Rising home prices and conservative borrowing have today's homeowners sitting on a record amount of potential cash. Today's mortgage holders saw their home equity increase by...Real Estateread more
Stocks have been grinding sideways, but technical analysts say once they breakout, the move to the upside could be powerful.Market Insiderread more
The fresh round of cuts is on top of an estimated 4,500 temporary layoffs GM and its suppliers handed out to employees as of Friday.Autosread more
The new wireless earbuds, codenamed "Puget," are expected to come with an accelerometer and be able to monitor things like the distance run, calories burned, and pace of...Technologyread more
Think about the last TV show you recommended to a friend, or the last one that was recommended to you. Odds are, it was from a premium service like HBO, Netflix or Amazon.Entertainmentread more
SpaceX is deep into development of its Starship rocket, with recent updates from CEO Elon Musk showing the first one under construction.Investing in Spaceread more
Greta Thunberg, a 16-year-old Swedish environmental activist, delivered a powerful message at the United Nations Climate Action Summit on Monday.Environmentread more
The Mac Pro is the only major Apple computer to be assembled in the United States. Most of Apple's products, including the iPhone, are assembled in China and are facing tariff...Technologyread more
SoftBank wants to push Neumann out of the CEO role ahead of the IPO.Technologyread more
Toys R Us' bankruptcy caused a 7% surge in sales for the toy industry during the first half of 2018 as parents stocked up, then sales fell 2% as manufacturers experienced...Retailread more
After an unexpected loss of subscribers and increased competition in the streaming war, shares of Netflix erased all of its 46% gain for the year at its peak and officially...Marketsread more
Kleiner Perkins, one of Silicon Valley's old-guard venture capital firms, is moving fast to plug holes in its investment team. The firm, which was founded in 1972, just nabbed Mamoon Hamid as a general partner. Hamid co-founded Social Capital, and led investments there in Slack, OneLogin and other enterprise tech deals.
Hamid confirmed the move in a blog post today calling Kleiner Perkins' Chairman John Doerr a role model. Doerr is famous for not just his investing acumen, but running a firm where seniority rules.
New talent tends to move on from Kleiner, rather than rise in the ranks.
Earlier this week, four of Kleiner's newer investment partners departed all around the same time, and the firm shut down its "Edge Program" seed fund, Bloomberg reported. That program, and the partners managing it, were supposed to help keep Kleiner relevant and appealing to a new generation of start-ups.
Kleiner's name used to show up in plenty of early-stage venture capital deals, and gained fame for being an early backer of Netscape, Google, and Amazon. But the firm has shifted lately to investing in later-stage rounds for hypergrowth tech start-ups -- according to Crunchbase data, this year more than half of its investments have been in later-stage start-ups.
In later stages, shares in successful start-ups tend to cost more, and outsized returns on those investments are much harder to realize.
Mature firms like Kleiner are facing an onslaught of competition for early-stage deals. Rising "microfunds" are writing checks for seed and Series A deals without bigger, institutional VC's leading the way.
Last year, industry tracker Prequin found 470 first-time funds looking to raise and invest in start-ups. These microfunds were looking to raise, on average, around $106 million for seed and early-stage follow-on deals.
Social Capital was counted as a microfund just six years ago.
Kleiner bringing on the co-founder of one of these growing, next-generation funds may signal that the firm is ready to incorporate not only new talent, but new ideas.