| Summary: | This article explores venture capital (VC) as a means and process of accumulating future social necessity. It explores the mechanisms of growth that make VC-backed firms distinct. I argue that a distinctive feature of surplus value capture through VC is valorization via socially necessary contracted space-time, a corrective to Marx’s theorization of socially necessary labor time, which appears incomplete in the context of VC. First, extending Marx’s general formula for capital, I develop a general formula for VC, demonstrating how the VC investment upends traditional theories of capitalist accumulation. Second, I argue that VC invests in firms seeking to capture ‘human capital’ resources and uncapitalized market ‘space’ (noncapitalist social logics of exchange) with the aim of achieving ‘product-market fit’. Third, I demonstrate how time and space are contracted under the VC process as a value capture (VC) mechanism relating to future social necessity. VC is, I argue, about accumulating today what we will all need to be consuming tomorrow, just to keep up with social norms. Finally, I explore how the valorization of crisis (VC) demonstrates the accumulation of future social necessity in practice. I conclude with thoughts concerning the possibility of alternatives beyond the overdetermined rapacity of ‘VC’.
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