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The latest chapter of Silicon Valley icon Kleiner Perkins' fall from grace is a tale of succession and leadership struggles

The latest chapter of Silicon Valley icon Kleiner Perkins' fall from grace is a tale of succession and leadership struggles
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In a report out Tuesday, Fortune's Polina Marinova chronicled the downfall of Kleiner Perkins Caufield Byers, once a giant-maker of Silicon Valley internet startups.




The report details how the firm missed early investments in Facebook, Slack, and Robinhood, and was distracted with unprofitable bets on clean energy.




Fortune also reported that longtime firm leader John Doerr, 67, overlooked star growth fund leader Mary Meeker when considering his replacement, instead opting for Mamoon Hamid from Social Capital.




Meeker left Kleiner Perkins in September 2018 to start her own growth firm, Bond.




Visit Business Insider's homepage for more stories.



Kleiner Perkins Caufield Byers was once the gold-standard of Silicon Valley venture capital firms. But its star has faded in recent years, and last year it was cleaved in half when one of its superstar partners left to start her own firm.
How Kleiner Perkins ended up in its current situation is the subject of a lengthy Fortune magazine feature story by Polina Marinova, that's worth a read.
Marinova recounts how a combination of unclear leadership and poor investment decisions led the once-prominent Silicon Valley institution to "B-list" status among entrepreneurs. Kleiner Perkins famously missed out on investments in internet services Facebook, Slack, and Robinhood, among others, in favor of going all in on clean energy at the direction of firm leader John Doerr.
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