some people may have noticed that only Elon Musk features on the frontpage for Paypal while Peter Thiel and Max Levchin are not.
Apparently there is a lot of politics behind this, with Thiel and Sequoia having been at odds over funding, the IPO and then selling to eBay.
Also, supposedly one of the big motivations for Thiel and Founders Fund was to compete and out-do Sequoia.
Sean Parker from Plaxo also isn't on the front page. Moritz had him locked out of his Plaxo office by changing the locks, and then fired him. Funnily enough Parker now works with Thiel at Founders Fund.
Might be just noise but the alt texts for the 3 YC blank squares are: Mellanox, VanceInfo, Paypal. Paypal in there hints to me it's probably just noise...
That's not true. The investors get a percentage of the returns from the startups funded with that money. When the money runs out, the deal ends.
This is how all funds work. A university that invests in a fund managed by VCs doesn't get part ownership of the VC firm. They get part of the returns from the startups funded with the specific pool of money they contributed to.
Sequoia is acting like an LP (usually universities, pension funds, high net worth individuals,etc.) in a typical venture fund is the way I'm looking at it.
Apparently there is a lot of politics behind this, with Thiel and Sequoia having been at odds over funding, the IPO and then selling to eBay.
Also, supposedly one of the big motivations for Thiel and Founders Fund was to compete and out-do Sequoia.
Sean Parker from Plaxo also isn't on the front page. Moritz had him locked out of his Plaxo office by changing the locks, and then fired him. Funnily enough Parker now works with Thiel at Founders Fund.
Funny what you can learn from that webpage.