Kleiner Perkins makes major changes

Worked for KPCB backed startup RGBNetworks a few years back. Loss all of my respect for that VC after that. Install their own CEO - most technologically clueless guy I have ever seen, kicked the 3 founders (extreme smart MIT grad) out of the board/company, went on a hiring spree for a lot of clueless VP, directors (friends of CEO) - turn a company with $40 mil / years revenue into a walking zombie.

I'm really sad about KPCB and other firms taking the direction they're taking. It hit me hard to hear John Doerr express his desire to focus a lot of his energy on firing up Zynga.

I had a lot of respect for KPCB when they were going all out on cleantech, on stuff that would make a difference. It didn't give them much return, so they're out of that game now. But on a happy note, Khosla and Gates (who's now a limited partner to KV) are the new players there. Let's hope they succeed in some capacity and more follow.

I am curious about the implications actually. Wondering how much is the impact of crowd-funding / public micro-funding on deal quality and deal flow for these traditional VC firms (Mattermark anything?)? Why are the VCs lowering their fund size so rapidly? I know it's still early on to even ask this, but a discussion went on those lines in one of the hallway conversations recently.

Honestly I was expecting much worse of a restructuring for Kleiner Perkins. It also would not have surprised me if Doerr would have retired to go into clean tech politics or some related non-profit.

I'd like to see the pitch they used to still be able to raise this fund.

It's too bad they lost Denniston, I remember listening to him speak at Kleiner a few years ago as a student and thinking to myself, "this is one the most well-spoken, intelligent individuals I've ever encountered." Probably true for most KPCB staff, but a loss nonetheless.

> In related news, longtime Kleiner Perkins partner John Denniston has resigned to lead a Bay Area nonprofit called the St. Vincent De Paul Society.

Perhaps this was drafted poorly, but it gives the impression that this organisation is local to the Bay Area only.

The Society of St Vincent de Paul is an international charitable organisation. In Australia it is sufficiently famous to be known by the diminutive "St Vinnies".

What do you think are the implications (if any) of this change?

I'd be curious to know more about Bill Joy and how his role has evolved.