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the 1980s PC hardware and software grew into a $100 billion industry, says Doerr. The Inter could be three times bigger. Kleiner Perkins now has stakes in more than a dozen pureplay Inter panies, including: Com21, Concentric Network Corp., Diamond Lane Communications, Excite, Home, Healthscape, Individual, OnLive! Technologies, Netscape, Precept Software, SportsLine USA, Total Entertainment Network and VeriSign. Louis John Doerr, III7 ? 10/2/1969,UC gave birth to a beautiful, bouncing baby workthe first electronic munication passed from the university39。s relationship work are the more than 250 its PCs. Doerr calls them our most important offbalancesheet weapon.” ? KP have taken venture capital to the next level by building extensive bridges to other panies through alliances and joint ventures. ? the Kleiner keiretsu, after the Japanese system of extensive crossownership within a family of panies, encourages its panies to work with one another whenever possible Louis John Doerr, III5 ? cannot build a great pany nor make a great investment by cutting a tough deal with an entrepreneur, need to be ruthlessly honest about the risks and focus on removing those risks.” ? Doerr hardwires his work by placing Kleiner CEOs on the boards of other of the keiretsu. ? Netscape Jim Clark personally putting up $3MM amp。s largest supplier of sulfuric acid pumps. ? Doerr was studying EE at Rice U. in Houston, Tx. With 2 friends started their own pany, wrote graphics software for Burroughs puters. graduated from Rice in 1973 BS, MS in EE ? MBA at HBS, which has probably produced more venture capitalists than any other institution Louis John Doerr, III3 ? 5 years at Intel. made the unusual request to be transferred from the Santa Clara headquarters to the Chicago sales office. He needed to be a field salesman, to live that experience? ? In 1980 he contacted Byers, who offered a job as a Kleiner Perkins associate, he accepted, but with the stipulation that Kleiner Perkins would back him if he decided to pursue his own startup. ? 198082 he spent half time for Silicon Compilers, in which he had a small equity stake, in 1982,KP raised venture capital39。 Byers. ? John Doerr?s power and influence on the VBC: recruiting efforts. ? He is a great recruiter. Why so critical? ? CEOinresidence program, william Campbell, the former Go chief, later in Intuit. ? Road shows and conferences Dare to pay high price ? John Doerr , paid a 5 million to Netscape in june. 1994, and in may, it worth about 600 million…the partners in KPCB took 30 minutes to vote investing in Netscape. ? Monday morning, all 10 partners gather at headquarter sitting around a table: the world largest surfboard... Formal presentation at 11 am and 2 pm ? hold board seats on 80% of the VBC. ? Doerr believes 1980s is for hardware and software, but 90s is for inter... KPCB why famous ? strategies are easy, it39。t account for winning investments39。An old survey: 1984 ? Avg partners per firm: ? avg panies managed per partner: ? avg seat on board per partner: ? most vclists spent more than half of their times with their portfolio panies, median number is 60% ? if they are the lead investor, they devote much more time on PCs than otherwise Venture capitalists pay ? the 39。80s, venture capitalists? base salary” $150,000 to $200,000, calculated on a 2 to percent management fee, less expenses. ? As the size of the funds have mushroomed while most expenses have remained generally flat, many venture capitalists now pull in two to three times that. Base salaries of $1 million are no longer unusual ? of course, that doesn39。 really big payoffs performance