New Bedford Whaling Museum Symposium to be Held on August 11

NEW BEDFORD –America’s earliest venture capital business model flourished during the era of whaling in this country: that is the central premise of a one-day symposium at the New Bedford Whaling Museum on August 11.

The Economics of Whaling Symposium will convene professors, historians, and businessmen to discuss the success of this 19th century American global enterprise and the application of this unique business model to modern finance.

The symposium is co-sponsored by the Whaling Museum and the Rotch-Jones-Duff House and Garden Museum, and runs from 10 a.m. to 5 p.m.

Cost to attend is $25 for Whaling Museum members and $35 for non-members.

Advance registration is required in order to receive symposium reading material.

To register go to the whalingmuseum.org.

Whale ship owners and agents showed tremendous business acumen by creating an incentive-based pay structure that motivated captains and their crews to optimize profits.

Simultaneously, the distribution of risk through syndication allowed for enormous profits despite predictable loses at sea.

The day also includes a reception and tour of the Rotch-Jones-Duff House and Garden Museum.

The house was built by shipwrights in 1834 for whaling merchant William Rotch Jr.

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