Michael Monroe Lewis born October 15,   is an American author and financial journalist. He is known for his non-fiction work, particularly his coverage of financial crises and behavioral finance. Lewis was born in New Orleans and attended Princeton University where he graduated with a degree in art history. After attending the London School of Economics , he began a career on Wall Street during the s as a bond salesman at Salomon Brothers.
From humble beginnings , the venture capital VC industry has evolved into one of the most significant, and certainly best-known, asset classes within the private equity space. Venture-backed startups have redefined entire concepts of industry, with some of the trailblazers usurping the traditional oil and banking giants to become the most valuable companies on earth. The venture capitalists backing them have also taken their spot in the limelight, with the likes of Marc Andreessen, Fred Wilson, and Bill Gurley gaining recognition far beyond the confines of Sand Hill Road. Partly as a result of this, the venture capital space has seen an influx of participants and professionals.
But is the method actually a path to winning? The Moneyball thesis is simple: Using statistical analysis, small-market teams can compete by buying assets that are undervalued by other teams and selling ones that are overvalued by other teams. The best-known Moneyball theory was that on-base percentage was an undervalued asset and sluggers were overvalued. At the time, protagonist Billy Beane was correct. Jahn Hakes and Skip Sauer showed this in a very good economics paper.