Kleiner Perkins, every mention
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every year anyone David Rosenthal 50Ben Gilbert 13Jason Calacanis 2Brad Gerstner 1
Verbatim, from the transcripts: the passages where Kleiner Perkins comes up
Google Part II: Alphabet (Audio) · Acquired
- ▶ 1:12:01 Ben Gilbert Interestingly, Shashir Miroda, this week, went on the Grit podcast, the Kleiner Perkins podcast, and laid out a bunch of data on this, and I actually didn't have a chance to reach out to Shashir yet, because it just came out, but a lot of…
Google Part I: Origins of Search. How the Best Business in Human History Happened (Audio) · Acquired
- ▶ 30:47 David Rosenthal He's at Kleiner Perkins alongside John Doerr.
- ▶ 30:50 David Rosenthal The two of them are running the firm and Vinod is on the board of Excite.
- ▶ 1:20:00 David Rosenthal Famously, Kleiner and Sequoia end up splitting the deal, and Michael Moritz and John Doerr, the two most legendary VCs in the world, they team up, they join forces, they split the deal, and they both join the board of Google at the Series…
- ▶ 1:20:55 David Rosenthal The reality is, Sequoia and Kleiner split tons of deals.
- ▶ 1:21:08 David Rosenthal Maybe they'd done one round or the other, and Sequoia and Kleiner split deals all the time.
- ▶ 1:21:26 Ben Gilbert Yeah, I think in the middle of negotiations, they got another term sheet at a hundred and fifty million dollar valuation instead of a hundred, but I think they were sort of already pot committed to Sequoia and Kleiner Perkins, and I…
- ▶ 1:21:52 David Rosenthal So, like, they knew they wanted to go with Sequoia and Kleiner.
- ▶ 1:25:14 David Rosenthal In the Kleiner partnership.
- ▶ 1:25:23 David Rosenthal You can understand why Kleiner and Sequoia would feel this way.
- ▶ 1:42:13 David Rosenthal My favorite story from the whole Google CEO hiring process was sort of the standard playbook here that John and Mike and Sequoia Kleiner would run with founders when
- ▶ 1:42:46 David Rosenthal And finally, after months of this, they come back and they tell Kleiner and Sequoia, all right,
- ▶ 2:02:49 Ben Gilbert Before they raised the Sequoia and Kleiner round came to Bill and said, what about two hundred million?
- ▶ 3:02:38 Ben Gilbert Sequoia and Kleiner Perkins are not gonna be just sitting there on their hands like, we love being private shareholders forever.
Meta (Audio) · Acquired
- ▶ 27:51 David Rosenthal Now, Friendster was based out here in Silicon Valley, had raised money from Kleiner Perkins.
- ▶ 1:35:47 David Rosenthal Were there any other deals like this that you could even kind of point to as a comparable from the past, and the only one I can think of was the Google Series A, which was twenty-five million dollars at a one hundred million dollar…
Microsoft Volume II: The Complete History and Strategy of the Ballmer Years (Audio) · Acquired
- ▶ 24:09 David Rosenthal They scrap the N-sixty-four information superhighway, they go raise money from Kleiner Perkins, John Doerr invests, joins the board, most legendary investor of the time.
Novo Nordisk (Ozempic) · Acquired
- ▶ 1:09:34 David Rosenthal The biotech market made drug development and production vastly more scalable, and it all happened right here in San Francisco, venture-backed by Kleiner Perkins, and it changed everything.
- ▶ 1:09:47 Ben Gilbert Former Kleiner Perkins employee.
Holiday Special 2023 (Audio) · Acquired
- ▶ 56:33 Ben Gilbert Series A from a whole bunch of great venture investors at Kleiner, Emergence, Lux, and NVIDIA itself called Together AI.
ACQ Sessions: Jason Calacanis · Acquired
- ▶ 1:55:41 Jason Calacanis You know, you definitely have to have the Sequoia and Kleiner.
- ▶ 1:55:55 Jason Calacanis It's, it's going to be Sequoia, Kleiner, Benchmark,
Benchmark Part I · Acquired
- ▶ 8:38 Ben Gilbert Uh, the 800 pound gorilla Kleiner Perkins.
- ▶ 8:43 David Rosenthal Uh, not just Kleiner Perkins, but specifically John Doerr's Kleiner Perkins.
- ▶ 9:31 David Rosenthal He had joined Kleiner.
- ▶ 9:57 David Rosenthal And that of course led to Vinod Khosla then joining Kleiner and like this dominant franchise.
- ▶ 11:25 David Rosenthal So to understand John, you know, we've painted the picture of how dominant he and Kleiner
- ▶ 11:33 David Rosenthal There were two very specific aspects to his style and Kleiner's style.
- ▶ 11:45 David Rosenthal He was the CEO of the firm.
- ▶ 12:21 David Rosenthal The other very particular aspect to the Kleiner Perkins model at this time was they had adopted this idea of a modern caretzu within a venture capital firm.
- ▶ 13:39 David Rosenthal A core part of this Caretzi model at Kleiner was, we helped facilitate, and some would argue they would do more than help facilitate, they would force these partnerships, biz dev relationships,
- ▶ 13:52 David Rosenthal Upon their portfolio companies.
- ▶ 14:07 Ben Gilbert If you are funded by Kleiner, you're sort of joining this cabal where Kleiner will sort of pull some strings behind the scenes and orchestrate what deals make sense for them as a shareholder across all of these companies.
- ▶ 14:23 David Rosenthal So, of course, KP was unquestioned the best venture firm at the time, but they weren't the only top tier firm.
- ▶ 20:19 Ben Gilbert But over the umbrella of the whole thing is a management company, which you would sort of think of typically an LLC, but you can think about it like Kleiner Perkins Incorporated.
- ▶ 27:03 David Rosenthal If we do a deep dive on it someday, I would be very curious to know how the Kleiner management company transitioned from Kleiner and Perkins and Caulfield and Byers to John Doerr.
- ▶ 36:46 David Rosenthal And he had the keys to Kleiner Perkins.
- ▶ 41:52 David Rosenthal Now, I think at this point, some firms, maybe just Kleiner, had charged more than 20% carry.
- ▶ 42:01 David Rosenthal I believe Kleiner did at this point because they were such a marquee.
- ▶ 42:04 David Rosenthal They were so proven.
- ▶ 42:06 David Rosenthal You know, if you wanted to invest with Kleiner, you had to pay a premium to get him.
- ▶ 42:10 Ben Gilbert They felt they had pricing power.
- ▶ 42:12 David Rosenthal Yeah, they had pricing power.
- ▶ 59:32 David Rosenthal He brings in Jim Barksdale, which of course is a Kleiner company and a John Doar company.
- ▶ 1:14:24 David Rosenthal Shaw with a full-fledged business plan and building everything out and then, you know, John Doar from Kleiner Perkins cold calling him.
- ▶ 1:30:02 David Rosenthal Now, other people in Silicon Valley did of course believe that, Kleiner Perkins being chief among them.
- ▶ 1:38:44 David Rosenthal John wasn't going to make the other partners at Kleiner Perkins equal partners to him.
- ▶ 1:38:50 David Rosenthal And there's downstream impacts of that to portfolio companies, to winning deals, but also to then working with portfolio companies, you know, John and Kleiner almost lost the Amazon deal when he tried to hand off the board seat.
- ▶ 1:39:23 David Rosenthal And then there's the other counter positioning aspect versus John and Kleiner of like, you know, there's no Koretsu here.
- ▶ 2:24:07 David Rosenthal They had the relationship with Bezos, even though Kleiner had the tighter relationship.
- ▶ 2:25:49 Ben Gilbert Kleiner was still Kleiner at that point, right?
Amazon.com · Acquired
- ▶ 1:33:00 David Rosenthal And of course, that is the legendary John Doerr of Kleiner Perkins.
- ▶ 1:33:49 David Rosenthal Choosing Kleiner to lead their Series A, eight million dollars at a sixty million dollar post money valuation.
- ▶ 1:34:03 David Rosenthal Now there was some structure to the deal, so it wasn't like a clean, the Kleiner term sheet was clean.
- ▶ 1:34:20 David Rosenthal And Amazon and Jeff went with John and Kleiner cause they were John and Kleiner.
- ▶ 1:34:49 David Rosenthal I really wanted to work with Kleiner Perkins then, but I guess we're gonna be going with General Atlantic.
- ▶ 1:35:25 David Rosenthal So they raised this money from Kleiner.
- ▶ 1:35:41 David Rosenthal It was actually more like nine-four because the Bezos family as a whole, not just Jeff's parents, Jackie and Mike, but also his siblings put a little more money in before the Kleiner round.
- ▶ 1:36:15 David Rosenthal So Jeff does two things after he raises the round from Kleiner.
- ▶ 1:36:18 David Rosenthal I didn't write down the quote, but somebody who was involved in the company at that point said something like, Jeff viewed this stamp of imprimatur from Kleiner and John Dora as like a shot of steroids into himself and the company.
- ▶ 1:41:00 Ben Gilbert It is worth highlighting this period of time, this 94 to 97, this pre-going public time, even though they had the imprimatur, as you put it, David, of Kleiner Perkins, and even though they were located in Seattle near Microsoft, and even…
- ▶ 1:43:10 David Rosenthal So Joy joins right at the end of 96, right after the Kleiner round, and Jeff, definitely because he wanted to do it, and you know, is consistent with Get Big Fast, maybe it was also sort of like this test for his new high potential CFO,…
- ▶ 2:25:45 David Rosenthal And Rahm's like, dude, the seed closed six months ago, and like, Kleiner, Sequoia, like, they're circling about doing a Series A, like, Jeff's like, I don't care.
- ▶ 2:26:18 David Rosenthal I couldn't figure out what it was, but the Series A that would happen shortly thereafter of Google famously split between John Dora Kleiner and Mike Moritz at Sequoia was at a hundred million dollar post-money valuation, which was insane…
- ▶ 2:30:16 Ben Gilbert A Morgan Stanley analyst with the name that some people will definitely know from her Kleiner Perkins days and now Bond days, Mary Meeker at the time, just at Morgan Stanley as an analyst, wrote right around IPO time that Amazon is the…
Altimeter (with Brad Gerstner) · Acquired
- ▶ 49:01 Brad Gerstner How do you, how are you gonna compete with Kleiner?