• real estate

    Bill Joy sells $40 million condo to Hugh Jackman at half off

    Dreamily inventive billionaire Bill Joy, the cofounder of Sun Microsystems, has predicted doom for the human race in the pages of Wired. He has a new reason for pessimism: A Manhattan condo he put on the market for $40 million has reportedly sold to Australian actor Hugh Jackman for $21 million — down from a previously rumored sale price of $25 million. The five-bedroom, three-floor condominium has a view of the Hudson River. We have a theory on why Joy sold, even at such a discounted price. More »

    12:20 PM on Fri Nov 14 2008
    By Owen Thomas
    11,721 views, 11 comments

    Most discussed Smitros: Thad headline begs for a punchline. more »

  • meltdowns

    Why venture capital won't save your job

    Those who fund young, growing companies love to tout their industry's role in job creation. Jobs — we could use some of those now, right? But with venture-capital firms like Sequoia Capital insisting on across-the-board layoffs, it's hard to buy that argument; jobs may be created at startups quickly, but they are just as rapidly destroyed. But startups aren't the only ones being pinched by venture capitalists — they're also taking their investors for a ride, according to an industry insider. More »

    2:40 PM on Thu Nov 13 2008
    By Owen Thomas
    4,637 views, 8 comments

    Most discussed Shadowlayer: I've to say this is a real eye opener for me: I always thought deep in my mind that the more »

  • nerdspotting

    Facebook CFO in two places at once

    We've always been impressed by Facebook CFO Gideon Yu's ability to snooker investors around the world. The list of people he's taken for a ride include Microsoft CEO Steve Ballmer and Hong Kong telecom mogul Li Ka-Shing. Just last Friday, he returned from a trip to Dubai, where he tried to shake loose some petrodollars from the Middle Eastern emirate's sovereign wealth funds. Some people seem to think Yu is still in Dubai. Which would be quite a feat, considering he's been spotted in Facebook's Palo Alto headquarters multiple times this week. Perhaps he's using CNN's new hologram technology?

    12:00 PM on Fri Nov 7 2008
    By Owen Thomas
    3,272 views, 1 comment

    Latest by insidefb: gideon is a master jedi. don't mess with him! more »

  • mysteries

    Why is VC Jeremy Levine lying for Jimmy Wales?

    Money is a commodity. What venture capitalists really bank is their reputation. And Jeremy Levine of Bessemer Venture Partners has just signaled that he's willing to cash in his reputation to protect a piddling $4 million investment. Levine is not amused by our report of how Levine got Wikipedia cofounder Jimmy Wales fired from his job as CEO of Wikia, calling it a lie. The report is accurate, Wikia insiders confirm; Levine's denial is the lie. The only mystery here: Why is Levine willing to dissemble for Wales? More »

    11:40 AM on Mon Nov 3 2008
    By Owen Thomas
    1,659 views, 7 comments

    Latest by dogcat: Great piece Owen. It sounds like Levine's made a big mistake: lying is so easy to do, but lying to try more »

  • gideon yu

    Facebook CFO's excellent Middle East adventure

    Gideon Yu is flying back from Dubai today, we hear. His coworkers at Facebook are surely anxious to know what gifts he's bringing back — and we don't mean the duty-free kind. TechCrunch reports he was there on a fundraising mission. The Persian Gulf's sovereign wealth funds are swollen with petrodollars. But Yu's assignment was tough. Maintaining the $15 billion valuation Facebook obtained from Microsoft and Hong Kong investor Li Ka-Shing in the face of a declining advertising market will require a lot of Yu's demonstrated slickness. But if Yu can squeeze cash out of Bill Gates, surely he can navigate a Middle Eastern bazaar. More »

    10:20 AM on Fri Oct 31 2008
    By Owen Thomas
    4,750 views, 13 comments

    Most discussed macbeach: I wonder if all of these things, not just Facebook, are reaching a saturation point. They are fun to try, but more »

  • scribd

    Startup guru Paul Graham's "greatest success" may be floundering

    I've always thought Scribd, the online document-posting startup, was set up mostly so its investors had an excuse to throw parties. They may not have that excuse much longer, if FuckedStartup's report that Scribd is running out of money is accurate. At a time when any number of startups are running out of money, why fret about Scribd's bank-account balance? Because Scribd was manufactured in angel investor Paul Graham's Y Combinator startup factory. More »

    9:20 AM on Mon Oct 27 2008
    By Owen Thomas
    1,269 views, 2 comments

    Latest by Shadowlayer: @Figaro: Word, whoever buys it will get an extra serving of lawsuit from the print industry. Anyway, I feel bad for more »

  • admob

    Sequoia shows its favor

    Venture capital is returning to an old formula: Doling out money for expansion to already-profitable businesses. That's why AdMob, a mobile-advertising startup, has gotten $15.7 million from Sequoia Capital. Sequoia, the backer of Apple, Cisco, Yahoo, and Google, summoned portfolio-company CEOs to an emergency meeting, warning them to cut costs and become self-sustainable. So why did AdMob get the cash? More »

    9:40 AM on Wed Oct 22 2008
    By Owen Thomas
    1,426 views, 5 comments

    Latest by kimbjo: Admob has always cooked their numbers. Maybe the VC's fell for it? more »

  • meltdowns

    Who's shameless enough to go to The Lobby this year?

    Silicon Valley venture capitalist David Hornik's invite-only dealmaking conference, The Lobby, takes place again next week at a plush resort in Waikoloa Village on the Big Island of Hawaii. Camp Cyprus was nothing compared to this funeral pyre of cash. Who cares that twentysomethings spent their own money to vacation with friends, and filmed an over-the-top video of their frolics? Hornik's hoedown is the ultimate marker of what-me-worry excess in an age of recession. And Valleywag has the complete list of who's going. More »

    12:00 PM on Fri Oct 17 2008
    By Owen Thomas
    5,485 views, 17 comments

    Most discussed Web2PointOhShit: And they're all going off to Hawaii... Anyone seen Snakes on a Plane? Anyone know where I can buy a more »

  • Skyrider

    Sequoia shutters a startup

    Some Valley investors succeed by spotting good ideas and nurturing them. Some succeed through utter ruthlessness. In that latter category lies Sequoia Capital, the investor behind Apple, Cisco, Yahoo, and Google. Skyrider, a file-sharing startup which had raised $25 million or more in venture capital, has shut down, according to VentureBeat. Startups fail all the time. But Skyrider was backed by Sequoia — and Sequoia, which zealously guards its reputation, rarely lets startups die so visibly. Skyrider was started as an ad-supported file-sharing service; its homepage suggested it was shifting into content distribution. But BitTorrent, a far better known name in file sharing, has struggled to crack that market. What's telling about Skyrider's failure: More »

    11:20 AM on Thu Oct 16 2008
    By Owen Thomas
    1,791 views, 10 comments

    Most discussed It Must Be Take a Worm for a Walk Week: Skyrider is a sweet track by Purple Motion. more »

  • rumormonger

    Tesla trying to raise $100 million?

    Of troubled electric-car maker Tesla Motors, the shining light of Silicon Valley's nascent clean-transporation industry, commenter quistrl writes:
    I hear the company is trying to raise 100mm with Goldman acting as the banker, anyone else hear anything.
    More »

    3:40 PM on Wed Oct 15 2008
    By Owen Thomas
    556 views, 3 comments