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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

#71

Post by pg »

wavephorm wrote: post #65
DilipJ wrote: post #62

Earlier quoted context omitted.

"The reason VCs don't like Yuri is that he is disturbing the cosy world they formerly inhabited by offering more founder friendly terms." I greatly respect and admire you pg, and god knows you're far more intelligent than I am, but surely you can't be so naive as to think that Milner is doing what he is doing out of some altruism for founders? He is spending outlandish amounts on startups for the same reason Abramovi…

This was very well said and I hope entrepreneurs at least stop to think about this before accepting his money.

It was phrased in dramatic language. To be well said it would also have to be true.

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

#72

Post by adlep »

guard-of-terra wrote: post #3
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…

Given the background of Milner described in the article, I'd argue he doesn't care about material comfort and luxury. At all. Like Perelman - who lives with his mother in the middle of St. Peterburg, sees a lot of opera and is happy with that. His 100M home is probably just another investment. He had bought a part of California state, tiny but pretty impressive one. He can also live in his investment which is a bonus…

His mother and father were relatively hi ranked Soviet officials. He had it "made" in SU. Also, the guy bought a 100 million dollar house. YES, he cares about the material comfort and luxury. If you don't, you live in a regular apartment or a sub- million dollar mansion.

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

#73

Post by adlep »

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.

If you think that the only needed quality to be a billionaire in Russia is being smart, you are in fact disconnected from reality and shame on you for that - you should know better.

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

#74

Post by rdl »

geoka9 wrote: post #64
rdl wrote: post #50

Earlier quoted context omitted.

He bought into Russia's mail.ru (through a merger; he's considered a founder, even though mail.ru's roots go back years before), during the first dotcom boom. He led it and helped it get huge. A lot of people got rich, including Millner, and Russians had great mail service. It went public on the LSE a few years ago, and is worth billions. So, on top of substantial personal wealth, he became a known successful tech en…

> and Russians had great mail service. Just wondering, have you actually used it? I have and my experience is that it might have been one of the best free ones available in Russian, but it surely was not great. In fact when I stopped using it a couple of years ago it was terrible: routinely dropped connections to their POP server, a web interface overladen with copious flash ads that slow you machine down to a crawl,…

It was pretty good back in 2002. Not sure about now. (I worked with them for remailer stuff back in the day)

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

#75

Post by jacques_chester »

mathattack wrote: post #18
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.

> When I see success, it always seems like there is something additional to intelligence - like work ethic, or conviction.

I usually see luck. Luck is a huge variable.

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

#76

Post by guard-of-terra »

adlep wrote: post #72
guard-of-terra wrote: post #3

Earlier quoted context omitted.

Given the background of Milner described in the article, I'd argue he doesn't care about material comfort and luxury. At all. Like Perelman - who lives with his mother in the middle of St. Peterburg, sees a lot of opera and is happy with that. His 100M home is probably just another investment. He had bought a part of California state, tiny but pretty impressive one. He can also live in his investment which is a bonus…

His mother and father were relatively hi ranked Soviet officials. He had it "made" in SU. Also, the guy bought a 100 million dollar house. YES, he cares about the material comfort and luxury. If you don't, you live in a regular apartment or a sub- million dollar mansion.

You named the reason why I think he doesn't care. He had everything he needed and it didn't cost them money. The only you could buy with money in USSR is some pompious things. Items.

In USA, you buy better education, better health care, better neighbours, different social circle, better leisure, better future - you buy all that with money. You didn't buy these with money in USSR. His parents had all this because of their status, not because of their high wages. You could only put your money in useless and overpriced things.

If you don't care, you can live anywhere. Might as well invest in some expensive property.

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

#77

Post by DuncanIdaho »

pg wrote: post #71
wavephorm wrote: post #65

Earlier quoted context omitted.

This was very well said and I hope entrepreneurs at least stop to think about this before accepting his money.

It was phrased in dramatic language. To be well said it would also have to be true.

I would be hard pressed to not believe it. From my own experience.

I don't know Yuri - you do.

He may as well be the only honest Russian oligarch (or a front for the only honest Russian oligarch).

But what GP posted is the state of affairs everywhere in eastern block and by far the norm.

Thus you must understand if people think less of you because of your associates. It is an prejudice but a well founded one.

In the end it won't matter anyway. But this is the way things work. I believe I read somewhere that yourself are of Russian ancestry? If so I believe you should be familiar with long tradition of tyranny of the few in Russia.

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

#79

Post by yonasb »

mathattack wrote: post #18
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.

Exactly. That's what I got out of this article, insight into why he may be so successful. His ability to appreciate the value of social media more than some other investors and him being in a position to bet on it.

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

#80

Post by JanezStupar »

bluekeybox wrote: post #41
gsivil wrote: post #38

Earlier quoted context omitted.

If by "friends" you mean people that you can use/be-used to find your way to "financial" success you obviously have a different/distorted take on the term "friendship".

Who do you seek out? Birds of a feather with whom to weep about your own misfortune? The stupid ones whom you can easily brainwash for fun and profit? The ugly ones next to whom you look sexier than by yourself? The weak ones whom you can rule over? The quiet ones over whom your voice is heard? The short ones over whom you can tower over? Perhaps you seek out neither of the above, but I knew a few too many people who…

How about reaching for power and glory without seeing people around you as mere objects with favorable and unfavorable attributes?

Reaching for power with integrity has its own set of rewards. Credibility for one.

People with attitudes like yours are destined to be used and discarded. Because a man of true power knows not to trust such and also knows that using the same standards on people that they use themselves is not amoral.

Superficial achievements are worthless to me. Therefore I believe that only integrity, wit, boldness and favor of Fortune will breed true glory.

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