Word: rieschel
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Heesen and four other veterans visited TIME last month for a talk that served as an epilogue to the Internet era and a prologue to innovation to come. Brenda Gavin, managing partner of Quaker BioVentures; John Preston, associate director of the M.I.T. Entrepreneurship Center; Gary Rieschel, managing partner of Mobius Venture Capital; and Susan Woodward, founder of Sand Hill Econometrics, joined Heesen on our Board of Technologists...
...RIESCHEL: One example from last year is social networking. That was ridiculous from a moneymaking perspective...
Since then, it is as if Son & Co. trained a fire hose on Silicon Valley and pumped in a steady stream of cash. President Gary Rieschel figures that in 1996, with Softbank Technology Ventures still an unknown in the valley, it invested $200 million in 55 companies in four months-- although "investing" hardly describes the act of writing checks as fast as you can. Last month Softbank opened Hotbank, an incubator for start-ups. There has been no need to advertise. Each week hundreds of applications pour into Hotbank; out come announcements of new Softbank allies: PeoplePC, Webvan, Global Sports...