Word: andreessens
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Like other IPO millionaires, Andreessen is careful to point out how difficult it would be for him to sell his stock. "You can't just sum up the total value of the stock and say that that's actually what somebody has in his pocket," he says. "There are a lot of both legal and practical restrictions on what actually happens to the money." Under the provisions of most IPOs, officers and executives who have stock or stock options cannot begin selling shares for several months. In addition, the sec places strict limits on the number of shares that officers...
Until this month Andreessen lived in a rented two-bedroom house in Palo Alto with his girlfriend Elizabeth Horn, who sells commercial real estate. He gets to the office around 10 a.m. and rushes home at 5 p.m. to walk their bulldog. Until about 3 each morning, Andreessen answers E-mail, reviews the status of products and, as corporate vice president of technology, helps plan Netscape's next moves (he doesn't write code anymore). "Marc hasn't changed," says Horn. "He still buys 20 or more CDs of classical music at a time when we go to Tower Records...
Fifteen years ago, Steve Jobs knew how Marc Andreessen feels today. Apple Computer, which he founded with Steve Wozniak, went public in 1980 when Jobs was 25. But in 1985 he was pushed out of the company (today he doesn't even use Apple products, although a broken Macintosh he calls a "sculpture" sits in a closet), and his fortunes seemed to dim. Later that year, he started NeXT, but its computers never caught on the way the Macs...
...NEWFOUND WEALTH, Braun sounds like Andreessen. "What you're seeing is a lot of zeroes in your net worth, but not a lot of zeroes in your bank account. It's not real! I can't go to a 7-Eleven and buy a Coke with that money." He too has modest tastes. "I'm not into boats. I'm not into planes. I'm not into clothes. So it's really hard for me!" he says, laughing. "So what's available? I got myself a nicer home, and that's about it. And I went out and bought...
...Marc Andreessen might be surprised to hear it, but Doug Colbeth thinks the people over at Netscape are "very much Hollywood personalities." Colbeth is the president and ceo of Spyglass Inc., which directly competes with Netscape. Spyglass is not based in lush, sun-tinged California, but rather in Naperville, Illinois. Last June, when the company went public, management celebrated by taking the 54 employees to a minor-league baseball game (tickets: $2 apiece). "We're blue-collar high tech," Colbeth says...