Published via L: 2013-12-12 17:26:14
The latest news – in a year-long deluge of mea culpas, nasty lawsuits, and admissions of strategic missteps – is that the firm is retrenching, refocusing on the consumer Web, and cutting its early stage investment staff. We know, thanks to a leaked memo to LPs, who is staying: John Doerr, Ted Schlein, Randy Komisar, Beth Seidenberg, and Mike Abbott.
John Doerr Quote: I wish people wouldn't put me on a pedestal.
The venture industry is intensely competitive, it’s changing. We’re reimagining what we should do at Kleiner to serve entrepreneurs. We’re very critical of our own organization and how we can make it better. And, a lot of stuff has changed. It’s way easier to start a venture than it ever was before, and as I said the goal is to build really big companies. The size of the markets are so large – a billion connected devices, which in theory you can get to download something the next day.
I wish people wouldn’t [put me on a pedestal]. I do think [the industry] has changed, and I do need to adapt. I tweet, I follow teets, but I don’t tweet daily…I wish I could blog, I envy people who can blog, but I struggle with words – they are the enemy.
My Two Cents
Kleiner Perkins rough patch goes to show how intensely competitive and tough the business of startups and venture capital is in general. Tough tough times for the legendary leader of KPC&B.
