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Marc Andreessen on Building Netscape & the Birth of the Browser

a16z Podcast

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The Cost of Demanding Cash Over Stock

The decision of the university administrators to demand cash instead of stock from the speaker and others cost them at least a billion dollars in direct stock plus significant downstream philanthropy and other losses. It is estimated that the decision cost them around $3 billion in 1990s dollars. Despite attempts by subsequent administrations to repair the relationship, the speaker remains upset and holds a grudge.

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