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According to our database, the following are or have been institutional investors in Uber, with individual partner names:
Google Ventures - David Drummond
Benchmark Capital - Bill Gurley
Lowercase Capital - Chris Sacca
First Round Capital - Rob Hayes
TPG - David Bonderman
Menlo Ventures - Shervin Pishevar
Kleiner Perkins Caufield & Byers - John Doerr
Other investors - no partner names available:
Welling Management Company
4 hours, 3 minutes ago on The horrific trickle down of Asshole culture: Why I’ve just deleted Uber from my phone
Private sector includes non-profit as well as for-profits.
9 months, 1 week ago on The inside story of how Obamacare became an insurance-industry bailout
Nobody said that the private sector never messes anything up. Of course, that happens all the time.
The issue is that government administered systems tend to be reformed much more slowly, because they aren't directly accountable to the people that use them, but rather the third party that writes the check: Congress. So, reform comes much more slowly, inefficiently and usually with all manner of political distortions.
Private sector systems are directly accountable to their customers, so reform of bad policies generally occurs at a much faster rate. Unless, that is, bad or outdated governmental regulation distorts the incentives of the market participants.
We already have a federally-run, single payer healthcare system: the Veterans Administration. I don't know anyone in their right mind who would want to double down on that bad system.
The U.S. just doesn't do big government well. When our A students go to Wall Street or Silicon Valley and the B and C students go into government, it's no shock to see how poorly our federal govt is run.
You raise many valid points.
I believe that "mid" stage firms can thrive by developing their abilities to create combinations from failed startup technologies. This will require a more technology-focused/savvy VC, but great companies have been formed by the combination of existing technologies found in the trash heap of failure.
1 year ago on VCs, Sears, and the disappearing middle market
An interesting aspect of this business model is whether the portals and angels will be able to be profitable with a "carry"-based environment.
That assumes enough successful outcomes to compensate for the investment and time opportunity costs.
1 year ago on Fred Wilson’s predictions for AngelList come true
Crowdfunding/crowd investing/crowd capital is definitely a new and viable option for startup capital formation and VentureDeal has supported in.
My take is that it really won't disintermediate traditional VC very much. VCs are in the business of detecting and investing in the next huge, game-changing, disruptive company. Frequently, when really disruptive companies go out for initial investment, a typical investor, even many VCs, will scratch their head and fail to "get it", fail to understand how the company could possibly succeed. But the visionary VC is willing to make a bet on it.
A perfect example is Twitter. When it launched, the vast majority of the population, even techies, could not understand why they would care to know about what their friends had for lunch. So, in my opinion Twitter would not have been successfuly crowdfunded, since the typical crowdfund investor would not have been able to understand the business model or the utility and potential value proposition of it.
Ironically, Fred Wilson invested in Twitter at the very earliest stage. He is a perfect example of a VC who is capable of making a bet on something that other people don't understand.
I do think, however, that crowdfunding will be very good at funding "fast follower" type companies. These "me too" companies will be able to receive funding from a typical small crowdfund investor, because they will presumably have a reference point in which to make a judgment on writing that check.
I also believe that the ultimate question over time for crowdfunding portals will be about the supply of money - investment return performance that attracts repeat investors to the concept. Will any of the crowdfunding portals share their aggregate investment financial results? I'm not talking about how much money was raised by startups, but how much money was RETURNED TO INVESTORS.
Show me a crowdfunding portal that publicizes that its INVESTORS prosper and I'll show you a sustainable portal.
1 year, 3 months ago on How the sharing economy will kill mediocre VCs
I would add that most startup founders/early CEOs are fairly limited in displaying the finer points of corporate communications. The informal nature of disruptive startups reinforces and contributes to this casual environment. Mistakes will be made, feelings a little bruised. If you can't stand the heat...
1 year, 3 months ago on Stop pretending it’s all a party: The social contract of working at a startup
Agree with the general thrust of the piece, we should avoid the vapid cliche spinners.
Being an entrepreneur is about "undertaking" something difficult and I don't begrudge weary souls from seeking shelter with like-minded folk from time to time.
It's just the "sermon" that wasn't worthy of the faithful.
1 year, 7 months ago on The fake church of entrepreneurship
With Wall Street/big finance disgraced, media needs to create a new "hero" for the American zeitgeist.
It has all the elements - the hero's quest of building something from nothing, rags to riches success as a beacon for the masses, pursuing the "progress" of making the world a better place through technology - the futuristic promise of a better life.
1 year, 7 months ago on Does anybody care about non-entrepreneurs?
The consumer sure seems to win - lower prices (even after dynamically changing them throughout the day), great selection, incredible convenience. Amazon is awesome.
1 year, 9 months ago on Jesus, Amazon, does the land grab ever end?
To FB, Graph Search is all about a-d-v-e-r-t-i-s-i-n-g...
1 year, 9 months ago on What Graph Search tells us: Facebook’s true power lies in connections, not social
It's so easy to start a consumer startup now: the friction that used to be there in terms of getting financing, launching online and having the initial resources is now much lower due to the wider availability of angel stage funding, metered cloud services, social media leverage and accelerators/incubators everywhere.As a result, the space has received over-investment along with too much "me too" technology development.But, this will probably result in a few of the smartest entrepreneurs combining pieces of these technologies with their own in order to create the next great innovation.
1 year, 9 months ago on Why Silicon Valley innovation has stalled
I'd be curious to learn whether SF empties out during the holidays (I suspect it does). With so many young people living there, it may see a net drop in souls within the city limits, as young folks leave town to visit family elsewhere.
1 year, 9 months ago on San Francisco: On Christmas, the mobile town that wasn’t
As The Economist has highlighted recently, the critical issue is whether a developing nation "gets rich before it gets old". According to their statisticians, China will not do so, partially due to their 1-child policy. India is a great question mark as well, since their rigid, bureaucratic structures continue to thwart badly needed reforms.However, the United States continues to enjoy a youthful influx of immigrants, and thus an ever-rejuvenating source of talent, creativity and wealth.Western Europe is indeed graying and has the additional burden of the Euro zone financial problems to work out, when they should be focused on competing harder on the world stage. They are definitely at risk of being the major loser in the decades ahead.
1 year, 10 months ago on As Western Europe grays, the money in emerging markets’ digital populations are leapfrogging it
On a successful Disney channel kid show (I have an 8 year-old), the lyric to the theme song goes like this: "I am, you are, we are, exceptional, exceptional."
How can everyone be "exceptional"?
Not to pick on Disney - they all do it - this is just Disney's version of an entertainment sugar fix, meant to give kids the feeling they're "exceptional", if they watch the show.
1 year, 10 months ago on What you believe is irrelevant
If they don't want to go public, then get out of the kitchen, to mix a metaphor.
Can institutional VC make their "top-quartile" numbers on M&A? Duh, no.
"It is terrible. Everyone I know who is running a public company is not having a good time." Oh, the horror!
Running a public company is about "having a good time"?
1 year, 11 months ago on Mercenaries in the midst: The lesson from Facebook and Zynga’s IPOs
Since the dot com boom of the late 90's, venture became an official "asset class" hard coded into the investment allocation matrix of LPs. Few of those LPs want to admit their error. They also hope that venture will return to trend - anything to help offset the dismal returns of their other portfolios.
1 year, 11 months ago on That venture capital shakeout is still taking way too long
Physical stores can succeed by offering something that a generic Wal-Mart cannot: a more memorable and unique "experience". You can't beat Wal-Mart or Amazon on price, selection or convenience, but you can beat them on making shopping something different.
1 year, 11 months ago on More than just a place to buy things
The key ingredient you didn't emphasize is hiring "A" level management. A great manager can marshal resources to motivate, educate and enforce standards so that the team achieves more together than they would each operating individually.
1 year, 11 months ago on We all talk about recruiting “A Players,” but that’s not how the Valley actually works
@Todd Dunning Jackson's beliefs are called "identity politics" and they lead to the worst kind of politics.
2 years ago on Samuel L Jackson’s Patronizing, Hypocritical Viral Message To Obama Voters
Homo Sapiens no doubt successfully evolved in part due to our ability to adapt to new situations, opportunities, threats, etc. One of the most powerful attractive words is "New", simply because it triggers the idea of potential benefit or advancement.
2 years, 1 month ago on Lost in a Haze of Distraction
I guess by the standards of "raising money", the US Federal Govt. would be the gold standard:
9/4/2012 USA debt = $16,000,000,000,000
2 years, 1 month ago on The Ecosystem Of Hype
We've been testing promoted account ads on Twitter and have been *very* pleased with the relevancy and quality of new followers. Twitter seems to be doing a pretty good job on their targeting algorithms...
2 years, 1 month ago on Will Twitter’s Uncanny Luck Ever Run Out?
Think that this is enabled/abetted by tech blogs with direct financial relationships with VCs (PandoDaily) or whose founder invested in numerous startups himself (TechCrunch)?
When the pervasive media constantly glorifies images of ever-expanding, conspicuous consumption...
When the world gives our government a virtually unlimited blank check for the past 40 years and our debt rises inexorably as we borrow in good years and bad, whether Republicans or Democrats are in power...
When the connection between corporate entity and individual has been virtually severed after repeated waves of mass firings during economic downturns...
When there is no vision of a higher national or personal calling other than "freedom"...
It's not surprising for impressionable people to envy and seek to emulate the rich, become rent seekers from government, lose any sense of loyalty to a cause or corpus other than themselves and feel "free" to obtain what they think they "deserve" by any means they deem necessary.
2 years, 2 months ago on Looterism: The Cancerous Ethos That Is Gutting America
Gee, when will the next company so dependent on an ever-changing social network platform go public again...
2 years, 2 months ago on What the Heck Happened to Zynga This Quarter?
Throughout the night, my 18 yr old nephew Morgan Jones in Denver, CO provided the real-time, comprehensive Reddit timeline on the Aurora shooting:
Citizen journalism - real-time...
2 years, 3 months ago on Lights, Camera, Reaction: When Did Eye-witnesses to Horror Become So Disturbingly Articulate?
What does "a truly global currency for a global Web" mean?
2 years, 3 months ago on Exactly How Screwed Is PayPal? (Hint: Very)
My sense is that you may see VCs open up "satellite" offices in the emerging markets, similar to what some have done in the past, such as New Enterprise Associates, Sequoia and others.
I also believe that the VC model is predicated on the VC being able to do two things efficiently: evaluate opportunities and manage investments. By doing those two things efficiently, VCs can still have a life outside of work. If Dave McClure is "always on an airplane", it doesn't sound like a sustainable model, from a personal standpoint, unless he considers airline check-in attendants his "family".
2 years, 3 months ago on Immobile Capital: The Unspoken Secret of Silicon Valley’s Success
Oh, I found it. Good Brit slang...
2 years, 4 months ago on I’ve Got the Facebook Phone. It Sucks
What is the etiology of "naff"?
"If there’s a misallocation of capital with too many people investing too much money in an underperforming asset class, it’s not good for anybody.”
Will we be saying this about crowdfunding...in 5 years?
2 years, 4 months ago on Institutional Investors Loved Venture Capital to Death
You really wanted to use "doucheoisie" somewhere, didn't you...!
2 years, 5 months ago on How to Understand Silicon Valley Speak
You know, the more things change, the more they stay the same. During the.com boom of the late 90s, all kinds of incubators sprang up. And then people (investors) figured out that coddling startups did not increase their chances for success, but rather warped and delayed the natural Darwinian selection process. Most of these incubators are simply option pools, an organized version of "spray and pray". But nothing substitutes for deep and specialized market knowledge to gain outsized returns.
2 years, 5 months ago on AngelPad Doesn’t Make Many Mistakes, But Maybe It Should
I think the trend that you're describing is partially a function of the venture capital industry attracting "finance types" ( i.e. bankers) over the past 15 years. Prior to the big run-up of the first.com era of the late 1990s, my guess is that you didn't see very many non-technology types in institutional VC.
As a result of the big-money successes of the late 90s and the "asset classification" of venture capital by limited partners, the industry attracted a much greater proportion of "financial engineers" rather than technology-focused partners.
Hence, the general change over time to smaller bets and greater safety.
2 years, 5 months ago on Fred Wilson Is Wrong About The Problem With Venture Capital
Didn't Arrington "move" to Washington state to avoid California state taxes on the sale of TechCrunch?
2 years, 5 months ago on Dustin Moskovitz: “I Couldn’t Imagine Moving to Optimize for Taxes”
As Fred Wilson once said, "no conflict, no interest".
2 years, 5 months ago on VCs in Angels’ Clothing: The Sneaky New Trend of “Deal Scouts” in Silicon Valley
Doesn't MSFT/Bing also power Yahoo?
2 years, 6 months ago on Dear Microsoft, Charging For an API is For Winners
@Christopher Gu Christopher, I can envision that different types of companies may want to attract different sorts of investors.
As an example, there might be an enterprise software startup that doesn't have the same kind of incentives/rewards available and which wants to attract a different type of investor base.
My point is simply that one size will probably not fit all, and I imagine that different marketplaces will form and cater to different types of companies, with different value propositions and investor bases.
2 years, 6 months ago on Welcome to the Wild West of Suckers, Lawyers, and Snake Oil Salesmen
@Christopher Gu I think you raise a good point, in the sense that the crowdfunding markets that will emerge/succeed may do so with a variety of financial return models between investor and investee. Some types of companies may be able to accumulate the kind of investment they need and yet provide different forms of compensation to their investors.
The points you raise are entirely valid. As a past Angel investor involved with a high quality Angel group and more recently the founder of a venture capital database (VentureDeal), the chance for the "small investor" to make a significant return is about the same as winning big in Vegas. Truly Accredited investors should place their "bets" in small amounts, among a portfolio of companies.
While VentureDeal has absolutely no intention of becoming an "Intermediary" in the new crowdfunding world, we do hope to provide research services to those quality-oriented intermediaries that seek to arm their investor base with additional points of reference so they can be more informed than a simple Google search.
Aside from that, crowdfunding for technology companies will no doubt prove to have its "pros and cons" and over time, the data will show which types of companies and investors tend to succeed and which fail. It will be a learning process for all parties involved and hopefully the investors choosing to make their "bets", will start small and go slow.
Thanks for the mention, but I didn't realize that our price of $25 per month qualified us as "very expensive". ;)
Having said that, it will be fun to watch the WhoGotFunded experiment.
2 years, 6 months ago on WhoGotFunded Will Make My Job Easier, Less Relevant