{
  "id": 93286,
  "title": "Guest commentary: Why venture capitalists need more influence on start-ups",
  "url": "https://urgent.news/2026/08/03/gastkommentar-warum-wagniskapitalgeber-mehr-einfluss-auf-start-ups",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-03T16:28:30.000Z",
  "source": {
    "name": "Handelsblatt",
    "slug": "handelsblatt",
    "url": "https://www.handelsblatt.com/meinung/gastbeitraege/gastkommentar-warum-wagniskapitalgeber-mehr-einfluss-auf-start-ups-brauchen/100243980.html"
  },
  "original_language": "de",
  "account": "Wagniskapital is recognized as a contemporary engine for innovation, although the investment model is not entirely novel. The 18th-century whaling industry shares striking similarities with the concept of wagniskapital. Both models involve substantial pre-investments in assets, and high loss probabilities, with potentially enormous profits in the case of a successful outcome. The parallels extend further. Once whalers were out at sea, the owners lost control over the captain. Melville's \"Moby Dick\" provides a fitting example. When the ship was in poor condition and the annual profit was at risk, First Officer Starbuck advised Captain Ahab to cancel the dangerous pursuit of the white whale. Ahab dismissed the warning and replied, \"The only true owner of anything is its captain.\" Some venture capitalists may find this familiar. During crises, founders often become unresponsive or uncontrollable. In GmbHs, minority shareholders do have voting rights, but information, control, and consent often remain toothless in practice.",
  "summary": "In times of crisis, founders are hardly accessible to investors. But that's exactly when professional advice is often particularly helpful, argues Thomas Lange, head of Achleitner Ventures.",
  "key_points": [
    "Venture capital shares similarities with 18th-century whaling industry.",
    "Founders may become unresponsive or uncontrollable during crises.",
    "Minority shareholders have limited voting rights in GmbHs."
  ],
  "editors_take": "The comparison of venture capital to 18th-century whaling highlights the loss of control investors face with start-ups, suggesting that more influence for venture capitalists could be a necessary check on founders.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}