Trends in Venture Capital Interest
Let’s just jump back up to 30,000 feet for a minute and talk about what's happening in the venture capital field. I'll talk about some areas of interest, and then we'll stop and let me address some of the questions because you had some great questions that will be interesting to talk about. This is a 2007 data looking at the mix of money that venture capitalists invested. A lot of money, almost $30 billion were invested last year. You can see the mix. Green tech is growing a lot. Geographical mix, this was what we were talking about ecosystem. It's really straightforward. Most of this is going on in California, and then the next big state is Massachusetts. These are the set of initiatives that we work at Kleiner Perkins, and as I mentioned to you, we don't go lab crawling mindlessly without knowing what we're doing. We have a set of ideas and things that we're interested in in the various sectors. I don't have to go through all of this. Things to highlight: The iPhone came out, a big phenomenon, huge application opportunity for our information technology group. We have a strategic relationship with Apple that, basically, we're taking $100 million and we're putting it towards new applications for the iPhone. We've received over 3,000 business plans, and that was announced at the beginning of the year. So it just gives you a sense for, again, you got to pick the spots. A number of my partners, John Doerr and Brook Byers and Ray Lane and others, I don't quite know how they do it, but they can predict the future in a way that I've never seen before. Green tech, I'll show you a slide on that in a moment. Life sciences, medical devices, therapeutics, personalized medicine. Molecular diagnostics is an area that Brook Byers actually started. He really thought about where is medicine going, what is needed to give better medical care. Somebody asked about costs. How do we get healthcare costs down? Right drug or the right therapy to the right patient at the ...
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