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How Russian Tycoon Yuri Milner Bought His Way Into Silicon Valley

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Re: How Russian Tycoon Yuri Milner Bought His Way Into Silicon Valley

#11

Post by jedberg »

DilipJ wrote: post #10
0x12 wrote: post #4

Earlier quoted context omitted.

If his 'outsiderness' is so irritating and alarming that's just nicely dressed up xenophobia. And from what I've seen of it SiliconValley is not much prone to that. So why is it different with Milner?

The Valley doesn't care about a person's ethnicity, as long as they generated their wealth through legitimate means. Milner, on the other hand, is nothing more than a frontman for Alisher Usmanov, who basically accrued everything through wholescale theft of state resources. Basically, Milner is a crook, and if there was any justice in the world he and Usmanov would be in jail for what they have done. But there isn't,…

I'm not denying this fact, but do you have any evidence for your claims?

Re: How Russian Tycoon Yuri Milner Bought His Way Into Silicon Valley

#12

Post by jcampbell1 »

0x12 wrote: post #4
jakeonthemove wrote: post #2

"It is his outsiderness that seems most irritating and even alarming" - that's the main issue that people seem to be having with Yuri. If he was American, he would be yet another success story, flashier than the others, but still competent enough to have made it big. As much as I admire the Silicon Valley investors who live in a normal house and drive a normal car, it's Milner's choice to go all out and get some expe…

If his 'outsiderness' is so irritating and alarming that's just nicely dressed up xenophobia. And from what I've seen of it SiliconValley is not much prone to that. So why is it different with Milner?

Xenophobia is an unreasonable fear of outsiders. The VC community should rationally dislike him because he is driving down the risk adjusted rate of return for VC investment, and backed by an endless supply of funds that traditional VCs have no access to. Of course, startup founders and tech employees should embrace him for the same reason.

As for his character, I don't think he is picked on anymore than Donald Trump. I reserve the right to make jokes about both of them.

Re: How Russian Tycoon Yuri Milner Bought His Way Into Silicon Valley

#13

Post by mapgrep »

pg wrote: post #9

If there's one mistake this story makes, it's in trying to come up with complicated theories about why Yuri does well. He's simply smart. That's what DST has in common with Andreessen Horowitz, though they have little else in common.

Come now, Paul. Yes, Yuri is smart. But he also has huge sacks of money to throw around, most of which comes from oligarch Alisher Usmanov. Wolff confirms here for the first time (I believe) that "Milner has created a separate fund to invest in international—and especially American—Internet companies, with Usmanov taking the biggest stake."

And we've yet to see any sort of track record for the piles of money Milner throws around, at least the big new money he is spending in America. In what sense is he "successful?"

It's kind of sad, to me at least, the extent to which a sort of amorality has really taken hold in Silicon Valley. It's nice that he's helped your investments out, Paul, but where does Yuri's money come from? Have you looked into him and Usmanov? I mean, the sad thing about Yuri Milner to me isn't that he's an ostentatious outsider, it's that he fits in so darn well in Silicon Valley. I wish this was the sort of place that looked completely alien to someone from Moscow or Wall Street. Every year, it seems that's less and less the case, at least in terms of culture.

Re: How Russian Tycoon Yuri Milner Bought His Way Into Silicon Valley

#14

Post by vizzah »

The wealth in hands of all these xUSSR oligarchs (Usmanov etc) was once a social wealth of all Soviet people. It is nice to see this wealth is now being converted 'back to social'. Our Facebook accounts are supposedly worth $100+ already, so it seems like a very clever plot to pay these money back to where they belong. Let's hope Mark will provide payouts for those choosing to close their accounts.

Re: How Russian Tycoon Yuri Milner Bought His Way Into Silicon Valley

#15

Post by vaksel »

mapgrep wrote: post #13
pg wrote: post #9

If there's one mistake this story makes, it's in trying to come up with complicated theories about why Yuri does well. He's simply smart. That's what DST has in common with Andreessen Horowitz, though they have little else in common.

Come now, Paul. Yes, Yuri is smart. But he also has huge sacks of money to throw around, most of which comes from oligarch Alisher Usmanov. Wolff confirms here for the first time (I believe) that "Milner has created a separate fund to invest in international—and especially American—Internet companies, with Usmanov taking the biggest stake." And we've yet to see any sort of track record for the piles of money Milner t…

yeah it's not like VC world is full of idiots, most of those guys tend to be smart.

Re: How Russian Tycoon Yuri Milner Bought His Way Into Silicon Valley

#16

Post by staunch »

vaksel wrote: post #15
mapgrep wrote: post #13

Earlier quoted context omitted.

Come now, Paul. Yes, Yuri is smart. But he also has huge sacks of money to throw around, most of which comes from oligarch Alisher Usmanov. Wolff confirms here for the first time (I believe) that "Milner has created a separate fund to invest in international—and especially American—Internet companies, with Usmanov taking the biggest stake." And we've yet to see any sort of track record for the piles of money Milner t…

yeah it's not like VC world is full of idiots, most of those guys tend to be smart.

Judged by their returns, all but the top tier of VCs (of which Milner is now a part) are idiots.

Re: How Russian Tycoon Yuri Milner Bought His Way Into Silicon Valley

#17

Post by gsivil »

pg wrote: post #9

If there's one mistake this story makes, it's in trying to come up with complicated theories about why Yuri does well. He's simply smart. That's what DST has in common with Andreessen Horowitz, though they have little else in common.

While smartness seems necessary it was almost never enough to succeed in Silicon Valley or in Wall Street or in the sciences. Smart is such a generic term that is almost meaningless.

Re: How Russian Tycoon Yuri Milner Bought His Way Into Silicon Valley

#18

Post by mathattack »

pg wrote: post #9

If there's one mistake this story makes, it's in trying to come up with complicated theories about why Yuri does well. He's simply smart. That's what DST has in common with Andreessen Horowitz, though they have little else in common.

Interesting. When I see success, it always seems like there is something additional to intelligence - like work ethic, or conviction. In this case it seems like his place in society allowed him to understand social media before a lot of other smart people. Additionally he had money when others didn't - he could invest in mail.ru and Facebook when other investors were in retreat.

Re: How Russian Tycoon Yuri Milner Bought His Way Into Silicon Valley

#19

Post by mathattack »

mapgrep wrote: post #13
pg wrote: post #9

If there's one mistake this story makes, it's in trying to come up with complicated theories about why Yuri does well. He's simply smart. That's what DST has in common with Andreessen Horowitz, though they have little else in common.

Come now, Paul. Yes, Yuri is smart. But he also has huge sacks of money to throw around, most of which comes from oligarch Alisher Usmanov. Wolff confirms here for the first time (I believe) that "Milner has created a separate fund to invest in international—and especially American—Internet companies, with Usmanov taking the biggest stake." And we've yet to see any sort of track record for the piles of money Milner t…

Based on subsequent valuations it would seem like Facebook, Groupon and others are doing very well. It only takes a few home runs to cover a lot of strikeouts and singles.

Re: How Russian Tycoon Yuri Milner Bought His Way Into Silicon Valley

#20

Post by 0x12 »

mathattack wrote: post #19
mapgrep wrote: post #13

Earlier quoted context omitted.

Come now, Paul. Yes, Yuri is smart. But he also has huge sacks of money to throw around, most of which comes from oligarch Alisher Usmanov. Wolff confirms here for the first time (I believe) that "Milner has created a separate fund to invest in international—and especially American—Internet companies, with Usmanov taking the biggest stake." And we've yet to see any sort of track record for the piles of money Milner t…

Based on subsequent valuations it would seem like Facebook, Groupon and others are doing very well. It only takes a few home runs to cover a lot of strikeouts and singles.

Only when you sell the stock. So the money to buy all that stock still had to come from somewhere.

Macaroni somehow doesn't cut it.

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