The cult of the founder and Silicon Valley’s lack of moral authority
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
This week Kate and Alex were back at TechCrunch’s San Francisco headquarters to chat the news with Kleiner Perkin’s Mamoon Hamid. Hamid is best known as a former member of the Social Capital team, and for driving generational change at Kleiner Perkins, a decades-old venture capital firm.
While we were prepping our notes, Airbnb announced that it is indeed going public next year. The firm’s terse statement launched 1,000 blog posts (here is one, here is another), while instigating a few jokes. After all, the IPO market is hot now. Saying that you are going to try your best to get out next year isn’t incredibly impressive from a firm with as many billions as Airbnb is today. It’s also not at all surprising.
Still, it’s a near-promise. And that means eventually we’ll get to see what the popular home-sharing and accommodations company spends all its gross margin on. Moving along, we discussed the recent WeWork revelations. If you haven’t read the Wall Street Journal’s piece on the matter, you must. It is chock-full of colorful anecdotes with WeWork’s co-founder and CEO