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Mercenaries vs. Missionaries: John Doerr Sees Two Kinds of Internet Entrepreneurs - Knowledge at Wharton

knowledge.wharton.upenn.edu · 1,188 words · saved by 1 readers

The growth of the Internet revolution from zero to $400 billion in five years owes much of its momentum to venture capitalists like John Doerr, partner at venture capital firm Kleiner Perkins Caufield & Byers. Yet Doerr, who spoke at a Wharton conference in San Francisco on March 31, worries about the future of that revolution, including an educational system in the U.S. that inadequately prepares its students to be business leaders. He also distinguishes between entrepreneurs who are mercenaries – starting companies just to flip them – and those who are missionaries, interested in building a team, focusing on the customer and creating long-term value.…Read More

--> John Doerr , whom Fortune magazine once described as America’s “only celebrity venture capitalist,” has often said that the personal computer industry’s growth from zero to $100 billion in 10 years was “the greatest legal accumulation of wealth in history.” Now he has something to add about the Internet revolution: It has dwarfed the PC revolution by going from zero to $400 billion in five years. “There are waves,” says Doerr, “and then there is a tsunami.” That tsunami—which has ushered in a new economy symbolized by Silicon Vall

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