Word: healtheon
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...meant tackling a host of infectious diseases in the Third World. Former Netscape CEO Jim Barksdale is spending $100 million to teach more kids to read in his native Mississippi, which ranks near the bottom in state rankings of literacy. Jim Clark, legendary founder of Silicon Graphics, Netscape and Healtheon, has pledged $150 million for a biomedical-research facility at Stanford. Pierre Omidyar, founder of eBay, has vowed to give almost all his $4.2 billion fortune to the Omidyar Foundation, which will help build the capacity of nonprofit organizations to become self-sustaining. Ted Turner, CNN founder and Time Warner...
...primitive computer graphics chips the potential for powerful new workstations built by Silicon Graphics. He looked at a simple interface for websites, and turned it into the Netscape Web browser. And he most recently has exploited the potential of the Web for dispensing medical information through a company called Healtheon. Each of these ideas has netted Clark a cool billion or so. Shouldn't such a visionary come up with a similarly new way of giving those bucks away...
Clark went on to found Silicon Graphics, Netscape and Healtheon, creating three multibillion-dollar companies. (So far.) I learned about Veblen--and loads about Clark--in Michael Lewis' new book, The New New Thing: A Silicon Valley Story (Norton; $25.95). It's a superb book and explains how engineers are the greatest creators of wealth in history and why Silicon Valley is the center of the universe (and how Clark came to be the center of the Valley). I tend to dislike most nonfiction, since so many writers approach their work as if they were doing the reader a favor...
...starting Silicon Graphics to sell workstations with the chip. That's where Clark honed his distaste for venture capitalists, whom he saw as stealing his enterprise and putting it in the hands of managers. Clark never let that happen again, keeping control when he got financing for Netscape and Healtheon...
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