Blog Post

Internet To VC Jobs; Silicon Valley Still Has It

Couple of trend stories, that bring out the bubbly environment that exists in the Internet and digital media space right now. The first one is about how the technology and Internet executives are moving again to VC positions, or at least positions within VC firms.
Some examples given: Former Yahoo executive James Slavet joined Greylock Partners as a partner in April to source deals in search, mobile technology, online marketing and advertising. Jonathan Fram, a former executive of Envivio and AOL subsidiary eVoice, recently joined the general partnership of Maveron, the Seattle VC firm started by Starbucks Corp. Chairman Howard Schultz. In June, Taek Kwon, a former chief executive of Friendster Inc., joined TPG Ventures as an operating partner and EIR.
The usual reasons: VCs hope the former tech execs can help the firms find start-ups with attractive business models in an increasingly competitive space as well as establish relationships with larger corporate giants, for business as well as exits.
The second story is about how the new wave of the Web boom was supposed to spawn one untethered by geography, with broadband everywhere.
Instead, the net startups which were hatched elsewhere are now migrating to Silicon Valley and environs. The trend shows how the SF Bay Area continues to possess a unique mix of VC money and skilled workers that tech firms can’t afford to pass up. Some examples: Meetro Inc., a maker of mobile social-networking software, transferred from Chicago to Palo Alto, Calif., in January, while Box.net Inc., an online file-storage-and-sharing site, jumped from Seattle to Silicon Valley that same month. Other companies are moving from overseas: Internet video company Metacafe Inc. is currently shifting its main office to Palo Alto from Tel Aviv.