It is the nature of the venture-capital (VC) game that most attempts at discovery fail, but a very few succeed at such a scale that they more than make up for everything else. That extreme ratio of success and failure is the power law that drives the VC business, all of Silicon Valley, the wider tech sector, and, by extension, the world. In The Power Law: Venture Capital and the Making of the New Future, Sebastian Mallaby has parlayed unprecedented access to the most celebrated venture capitalists of all time into a riveting blend of storytelling and analysis that unfurls the history of tech incubation, in the Valley and ultimately worldwide. By taking us so deeply into the venture capitalists’ game, The Power Law helps us think about our own future through their eyes. The CFR Fellows’ Book Launch series highlights new books by CFR fellows.