![]() ![]() ![]() When it has a product that early adopters like-or when it’s run through its seed-round money-it tries to raise an A round. When a startup is just an idea and a few employees, it looks for seed-round funding. Andreessen later told me that this “was like a cub reporter saying, ‘I need to write the Great American Novel before I can really file this story.’ ” A16z gave Doshi ten million dollars, and he gave it twenty-five per cent of his company. Doshi mentioned that he’d become so dissatisfied with the incumbent database software that he’d built his own. Then he pitched them in the lobby (having made sure that his parents’ Honda, which contained his father, was well out of sight). In 2012, he tracked down Andreessen and his equally if less splendidly bald co-founder, Ben Horowitz, at a Ritz-Carlton near Tucson. firms in the U.S., and last year they spent forty-eight billion dollars chasing that dream.ĭoshi had run the gantlet before. With great luck, once a decade that unicorn will become a Google or a Facebook and return the V.C.’s money a thousand times over: the storied 1,000x. Of those, at least ten will fold, three or four will prosper, and one might soar to be worth more than a billion dollars-a “unicorn,” in the local parlance. Each year, three thousand startups approach a16z with a “warm intro” from someone the firm knows. Competing V.C.s, disturbed by its speed and its power and the lavish prices it paid for deals, gave it another nickname: AHo. (There are sixteen letters between the “a” in Andreessen and the “z” in Horowitz.) Since the firm was launched, six years ago, it has vaulted into the top echelon of venture concerns. If you have a crackerjack idea, one of your stops on Sand Hill Road will be Andreessen Horowitz, often referred to by its alphanumeric URL, a16z. “The top V.C.s want you to show them you can invent the future.” “Mediocre V.C.s want to see that your company has traction,” Doshi told me. Doshi rapidly escalated to rhetoric-“We want to do data science for every single market in the world”-that would sound bumptious anywhere but on Sand Hill Road, where the young guy in jeans is obligated to astound the middle-aged guys in cashmere V-necks. ![]() They will be either lucky or wrong.” Far better to apply Mixpanel’s analytics, which enable mobile-based companies to know exactly who their customers are and how they use their apps. And when he so argues, fire-hosing you with syllogisms and data points and pre-refuting every potential rebuttal, he’s very persuasive.ĭoshi, lean and quizzical in a maroon T-shirt and jeans, began his pitch by declaring, “Most of the world will make decisions by either guessing or using their gut. He believes that Silicon Valley is mission control for mankind, which is therefore on a steep trajectory toward perfection. He believes that tech products will soon erase such primitive behaviors as paying cash (Bitcoin), eating cooked food (Soylent), and enduring a world unimproved by virtual reality (Oculus VR). ![]() He’s an evangelist for the church of technology, afire to reorder life as we know it. ( Forbes’ s Midas List of the top hundred V.C.s includes just five women.) But, whereas most V.C.s maintain a casual-Friday vibe, Andreessen seethes with beliefs. In many respects, he is the quintessential Silicon Valley venture capitalist: an imposing, fortyish, long-celebrated white man. Andreessen is forty-three years old and six feet five inches tall, with a cranium so large, bald, and oblong that you can’t help but think of words like “jumbo” and “Grade A.” Two decades ago, he was the animating spirit of Netscape, the Web browser that launched the Internet boom. Marc Andreessen, the firm’s co-founder, fixed his gaze on Doshi as he disinfected his germless hands with a sanitizing wipe. Inside the offices, he stood at the head of a massive beechwood conference table to address the firm’s deal team and its seven general partners-the men who venture the money, take a seat on the board, and fire the entrepreneur if things go wrong. of a data-analytics startup called Mixpanel, had come from San Francisco to Sand Hill Road in Menlo Park, where many of the world’s most prestigious venture-capital firms cluster, to pitch Andreessen Horowitz, the road’s newest and most unusual firm. On a bright October morning, Suhail Doshi drove to Silicon Valley in his parents’ Honda Civic, carrying a laptop with a twelve-slide presentation that was surely worth at least fifty million dollars. At his firm, Andreessen Horowitz, the venture capitalist routinely lays out “what will happen in the next ten, twenty, thirty years.” Photograph by Joe Pugliese ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |