August 9th (13 page)

Sometimes I get so involved in the business world that I don’t grasp the enormity of what’s happening up here. We’re at the center of the technology universe and what’s going on here every day is changing the world.
I’ve been very lucky to have been with Rogers Schmidt for almost twenty years and have been part of their growth into one of the top venture capital firms in the world. I’ve also made enough money for us to live comfortably for the rest of our lives which includes the fund we set-up to insure Ben would always have everything he might need should something happen to Maggie or I. Yes, my world is good, but at forty-five I think I’m ready to stretch my wings.

I probably see my brilliant friend Jeff at least once a month. He’s been trying to get me involved with one of his tech ventures since our Stanford days. The idea probably makes more sense now than ever before since we have the money between us to fund the company at least until we have something of substantial value and can raise other money without giving away the store. Plus we both have proven track records and relationships that are invaluable. This is particularly relevant now because I had lunch with Jeff a couple weeks ago and, after he swore me to secrecy, gave me a one sentence teaser of his new concept that he’s already started building in his head. He said, “It’s where people live online that provides the latest communication platform for connecting people.” The opportunity is huge; a billion dollar idea.

I shared this with Maggie and, not surprisingly, she said to follow my instincts and she’d support whatever I wanted to do. Jeff and I are going to get together in a couple of weeks and discuss things further but I’m fascinated with the idea of starting a Company with
someone who’s not only a friend but a friend with a brilliant mind. Bottom line is I guess I do have an ego and really would like to start something great that would also make the world a better place.

Here’s a good story. Fifteen years ago we started a college fund for Caroline with 100 shares of Apple. Of course, we’ve added a lot to the fund since 1981 and luckily we can keep that fund intact while we wait for some of the stocks to mature. Rumor on the street is that Steve Jobs is coming back to the Company he founded. Caroline knows Jobs life story well since she wrote a paper on him that includes what he’s done with NeXT Computers and Pixar. She refers to him as a true visionary. When I told her Jobs might be going back to run Apple her response was, “That’s what they need. Please don’t sell my shares.”

Tess, I only hope you are living your dreams.

Dear Tess,

I’ve probably read five hundred business plans in the last twenty years and it’s about time I wrote one of my own.

Jeff and I have started our own company. Our name is a play on the word “utopia.” We have incorporated as “Utonica,” and our tagline is “Where you live online.” Our mission is “to build the dominant online community” and we will do this by creating the first totally interactive user experience with our platform of the most advanced set of totally integrated communication tools in the world. Jeff and I really are partners as we each wrote checks for $2 million to start and fund Utonica.

Leaving Rogers Schmidt was not easy. I couldn’t have asked for a better working environment and leaving is bittersweet. It’s also complicated because of our detailed partner’s agreement which stipulates a twenty
step formula for capital distribution when a partner leaves. I did have a huge advantage over the other two partners who left Rogers Schmidt in the past since I helped draft this partner exit agreement.

Over the years Rogers Schmidt became a second family to me and the other partners are all good friends. They all understand my move because most face similar opportunities. Of course I still have a vested interest in Rogers Schmidt success.

Our offices are an easy ten mile drive from the house and we’ve hired six techies, and two business types, one to handle operations and the other for marketing. Our goal is to have
Utonica.com
up and running in a year. It’s an aggressive schedule but Jeff and I are both well aware of the cost more, take longer syndrome that cuts across any building project even if it is online.

I think we probably bought a house that’s too big especially since Caroline’s away at college. The house is so large it has an empty feeling most of the time. We could easily downsize which is an interesting dynamic since for twenty years we’ve been going the other way.

Ben is going to be sixteen in December and we continue to do the best we can by making his environment as stable as possible. We still stay abreast of all the autism research being done and Maggie, much more so than me, has become an expert in the field. Ben was evaluated again in June and his autism was classified as “mild.”

The stories told by caring mothers and fathers in the Parents of Autistic Children’s Group we meet with are
so sad and frightening that they help give Maggie and I perspective. We’re lucky we haven’t had to deal with a very aggressive or violent child. Fortunately, we’ve been able to control any acts or tendencies Ben might have towards aggressive behavior which has always been my biggest worry.

We’re so preoccupied with day to day challenges in raising Ben that we’ve neglected spending time thinking and planning his future. Now, led by the efforts of the autism non-profit we help support a series of workshops has been designed for parents that specifically deals with their child’s future including employment opportunities and long-term living arrangements.

Caroline continues to flourish at Yale. I couldn’t be prouder of her. It’s been great having her home this summer. She really is just like her mother, from her long auburn hair, beautiful smile and thin frame to her kindness and sense of right and wrong. I am truly blessed. Tess, I hope your world is bright, happy and healthy.

Dear Tess,

Although we’re slightly behind schedule the good news is that
Utonica.com
should be ready to launch soon. The bad news is that I’m back to 80 hour work weeks. It’s different with your own company but it doesn’t make my life any less hectic. I make sure I have time for Ben and Maggie but that doesn’t leave much time for anything else. The biggest casualty has been my exercise which has been reduced to maybe a couple hours a week.

There’s an interesting debate going on in the Valley over dotcom business models. One school of thought is to “get big fast” focusing on visitor growth. The other school of thought is that the “get big fast” model is not sustainable so you’d better figure out how you’re going to make money early in the game. I’m somewhere in the middle although I probably prefer to “get big fast” and then sell the company.

Financially, Jeff and I have put more money into the company plus neither of us is taking a salary. We’ve hired three more programmers and also have four interns from Stanford who help us out with a wide range of things. Our techie’s have been busy building our communication platform that includes webcams, e-mail, instant messaging, auctions, chat rooms, photo albums, personal ads and clubs. We’ve got an aggressive launch campaign that includes very funny billboards in strategic cities and also a hilarious TV commercial.

It’s hard to keep anything quiet for too long in the Valley and the word is out we’re building “Utonica.” A little chatter mixed with a little hyperbole is always good. Even though we haven’t gone live yet and are only a little more than a year old we received an offer to buy us from a major dotcom for $55 million. We quickly declined but that offer established a floor for the value of Utonica. It also lifted morale at the office sky high. Jeff and I celebrated with our wives over dinner.

It doesn’t seem possible that my precious little girl is nineteen and going to graduate from Yale next June. Maggie’s already invited both sets of parents and reserved hotel rooms. I’d better take two handkerchiefs for this graduation. Then it’s on to law school for Caroline. This California girl turned Ivy Leaguer has the tough choice of choosing between Yale and Harvard.

Maggie and I are dialed in. Since we realize communication is an absolute necessity we find at least a half hour a day to just talk. I’ve now been sober for almost six years and still go to meetings like clockwork.

Autism and the fight to treat and cure it still consumes our lives. Maggie is now speaking to groups of parents who recently discovered they have an autistic child. Speaking from personal experience is a powerful tool and she’s outstanding at relating and answering questions.

Ben seems to be doing well, at least according to his teachers. I still worry constantly but have accepted that is my role. I’m so concerned about the potential for aggressive behavior that I probably don’t give him the freedom he needs. I brought that up at our last parents meeting and like most things dealing with autism there is no answer.

The flaws of being human now has a poster boy in our President. The Monica Lewinsky scandal threatens to taint all the good things Clinton has done and he’s redefined the meaning of “sexual relations” for teenagers everywhere.

It’s been ten years since I ran The Bay to Breakers and I don’t miss that chaos but I do miss running and have put on weight. When I have time I’ll ride my mountain bike to work and then either get a ride or take a cab home if it’s dark. Its exercise, but not enough. I keep saying I’m going to go to yoga with Maggie but I’ve been saying that for twenty years. She insists it would
be good for me and she’s right. I rationalize that I’ll start yoga when I also start playing golf—when I retire.

Wishing you the best,