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The entrepreneur made one of the most celebrated investments in the history of Silicon Valley — the initial $100,000 that bankrolled a search engine called Google in 1998 — while on the way to work one morning. Twenty one years later, Mr. Bechtolsheim may have seized a different kind of opportunity. The history of Silicon Valley is full of big bets and abrupt downfalls, but rarely has anyone traded his reputation for seemingly so little reward. For Mr. Bechtolsheim, $415,726 was equivalent to a quarter rolling behind the couch. Last month, Mr. Bechtolsheim, 68, settled the insider trading charges without admitting wrongdoing.
Persons: Andreas Bechtolsheim doesn’t, Bechtolsheim Organizations: Google, Securities and Exchange Commission, Bloomberg Locations: Silicon
Andreas "Andy" Von Bechtolsheim, co-founder of Arista Networks Inc., speaks during a Bloomberg West television interview in San Francisco, California, U.S., on Thursday, May 2, 2013. Andy Bechtolsheim, the co-founder of Sun Microsystems and Arista Networks , has reached a settlement with the SEC on insider trading charges that will cost him close to $1 million and bars him from serving as a public company officer or director for five years. Cisco announced its agreement to buy networking company Acacia for $70 per share in a $2.6 billion deal, driving Acacia's stock up 35%. "While the SEC announcement did not involve any trading in Arista securities, Arista takes compliance to the company's code of conduct and insider trading policy seriously," an Arista spokesperson told CNBC in an email. Bechtolsheim, who lives in Incline Village, Nevada, co-founded Arista in 2004 and took the company public a decade later.
Persons: Andreas, Andy, Von Bechtolsheim, Andy Bechtolsheim, Bechtolsheim, Bechtolsheim confidentially, didn't, Scott McNealy, Vinod Khosla, Bill Joy Organizations: Arista Networks Inc, Bloomberg West, Sun Microsystems, Arista Networks, SEC, Acacia Communications, Cisco, Arista, Acacia, Bechtolsheim, CNBC, Oracle, Sun Locations: San Francisco , California, U.S, San Jose , California, Incline Village , Nevada
WASHINGTON (AP) — Google will confront a threat to its dominant search engine beginning Tuesday when federal regulators launch an attempt to dismantle its internet empire in the biggest U.S. antitrust trial in a quarter century. If he decides Google broke the law, another trial will decide what steps should be taken to rein in the Mountain View, California-based company. Political Cartoons View All 1152 ImagesGoogle counters that it faces a wide range of competition despite commanding about 90% of the internet search market. One possibility is that the company could be forced to stop paying Apple and other companies to make Google the default search engine on smartphones and computers. Distracted, the software giant struggled to adapt to the impact of internet search and smartphones.
Persons: Judge Amit Mehta, Sundar Pichai, Larry Page, Eddy, Trump, Microsoft's Bing, Andy Bechtolsheim, Page, Sergey Brin, Justice Department's, litigator Kenneth Dintzer — Organizations: WASHINGTON, Google, Inc, Apple, Justice Department, Firefox, Regulators, Sun Microsystems, Microsoft, Netscape, Justice Locations: , California, Silicon
The U.S. government is taking aim at what has been an indomitable empire: Google’s ubiquitous search engine that has become the internet’s main gateway. That's what happened to Microsoft after its antitrust showdown with the Justice Department: Distracted, the software giant struggled to adapt to the impact of internet search and smartphones. From Google's perspective, the perpetual improvements explain why most people almost reflexively gravitate to its search engine, a habit that long ago made “Googling” synonymous with looking things up. The Justice Department contends Google's claim that it dominates the market by supplying the best search engine is a canard. Google insists that consumers could easily switch their default settings to another search engine.
Persons: Judge Amit Mehta, Sundar Pichai, Larry Page, Eddy, Mehta isn’t, Sergey Brin, Andy Bechtolsheim, Page, Brin, Trump, Microsoft's Bing, Bing Organizations: Washington D.C, Microsoft, U.S, Google, Stanford University, Sun Microsystems, Inc, Apple, Justice Department, U.S . Justice Department, Yelp, Department, Firefox, Regulators Locations: Washington, , California, Silicon, Colorado
So when a position opened up at the Seligman Communications and Information fund, the firm's then-chief investment officer asked Wick to take it over. Today, the Columbia Seligman Technology and Information fund (CCIZX) that Wick began running on New Year's Day in 1990, has $8.5 billion in assets under management. "It's really hard to guess how will the technology industry change in five years. By now, Wick has relationships going back decades in the tech industry. As of January, the Technology and Information fund held 2.96% of its assets in Bloom, up from 2.36% in October.
Once only for the superrich, angel investing is now open to anyone with a few thousand dollars. With an estimated 360,000 active angel investors, it's become a favorite pastime in Silicon Valley. "It felt like gambling," David Spreng, a veteran venture-debt investor who's been angel investing as a side hustle for more than a decade, said. He wrote his first angel check shortly thereafter, a $1,000 investment in an electric-aircraft maker. The currency of Silicon Valley"Your currency, for lack of a better term, in Silicon Valley is you either started a company or you angel invest, right?"
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