A few years ago, Kleiner seemed to be deemphasizing the Web to focus more on opportunities in cleantech, but the news today is just another signal of how serious Kleiner is about this market opportunity. “This third wave of disruption of social and mobile has meant that digital investing has taken on a new prominence in Kleiner,” Doerr says.
via John Doerr and Mary Meeker Speak about their New Partnership.
It’s no secret that Kleiner stopped doing internet deals a couple of years ago and decided to focus more on energy and clean tech. Now that they’re through with that phase, I wonder if that strategic misstep will be turned into an HBS case study or instead be overshadowed entirely by the structural changes reverberating through the industry.
As for the Meeker hire, I think Paul Kedrosky said it best in this tweet:
We stopped doing the “analyst turns VC” thing post-2001. This seems so hoary, like your parents showing up in their disco clothes.
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