Word: siliconing
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Dates: during 2000-2009
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HOLLYWOOD AND SILICON VALLEY were shocked when Terry Semel became CEO of Internet portal Yahoo! in 2001. But the ex-Warner Bros. chief has led the company out of dotcom-bubble troubles to a new era of record profits. He has also done well personally, making a profit of more than $250 million on stock-option sales, according to analysis firm Thomson Financial. Semel talked to TIME's Jeffrey Ressner about technology, Tinseltown and the competition...
...things--the very first Apple computer mouse and the light-up LAVATORY OCCUPIED sign used on Boeing 747s. In 1991 his company merged with ID Two, designer of the first laptop, to form Ideo. During the heady high-tech 1990s, the firm became the hottest product-design shop in Silicon Valley, working with the biggest names in business, churning out hundreds of supremely user-friendly designs like the Palm V and the Polaroid I-Zone "fun" camera and winning more awards per year than any other design firm...
Such largesse is not unheard of in Silicon Valley. Especially when the business of social networking is involved. In October and November 2003, venture capital firms poured nearly $36 million dollars into four social networking websites—Tribe, LinkedIn, Friendster, and Spoke, according to the companies’ websites. Mark Kvamme, a partner at Sequoia capital, has gone so far as to dub the phenomenon “Internet 2.0,” and everyone from Microsoft to Google wants...
Zuckerberg will not discuss the details of those offers. He says he does have an idea of the site’s value, but won’t say what it is. Typically, companies like TheFacebook meet multimillion dollar offers. According to the San Jose Mercury News—Silicon Valley’s newspaper of choice—Friendster passed on a $30 million buyout offer from Google in 2003. Friendster founder Jonathan Abrams—who would not confirm the $30 million figure—says the company had two million users at the time. Today, TheFacebook...
Zuckerberg estimates he’s been to 40 meals with interested venture capitalists and representatives of other companies, like Google, to discuss investment opportunities. Nearly all of the top-tier Silicon Valley venture capital firms have expressed an interest, he says, and TheFacebook has met with most of them. The casual nature of the investor meetings makes it easy for Zuckerberg to go out for lunch, or to a concert, with or without the intention of accepting money. He enjoys the meetings, he says, out of sheer curiosity. But over the summer, when TheFacebook fell...