Kara Swisher

Recent Posts by Kara Swisher

As BoomTown Already Said, Weiner Moves to Accel and Greylock

Accel Partners and Greylock Partners will officially announce today that Yahoo Network head Jeff Weiner will become an executive in residence at both Silicon Valley venture capital firms.


That obviously means Weiner (pictured here) is officially out at Yahoo (YHOO) too.

[UPDATE: Accel just announced the move on its Web site here.]

Of course, loyal readers of BoomTown would have known about this development last week, when this column broke the news of Weiner’s departure from Yahoo, where he was one of its top execs, in charge of all consumer-facing products at the company.

Now, he will presumably be dispensing advice to Web 2.0 start-ups, most of whom are probably interested in being bought by a consumer-facing company like Yahoo.

From the Accel release: “Weiner will advise the leadership teams of existing Accel and Greylock consumer technology portfolio companies, and will also work closely with the firm’s partners to evaluate new investment opportunities.

“ ‘Jeff’s operational experience in scaling products, teams and revenue will help Greylock enhance our capabilities and add value to our investments,’ said David Sze, general partner at Greylock.

“Weiner brings outstanding leadership experience and a deep knowledge of the consumer Internet and digital media sector to his new role. ‘We are thrilled to have access to Jeff’s perspective on Web product strategy and operations,’ said Theresia Ranzetta, general partner at Accel. ‘Additionally, we look forward to leveraging Jeff’s expertise regarding the convergence of media and technology for existing and future Accel portfolio properties.’ “

Shuttling between two firms is an unusual arrangement, although Accel and Greylock have made some investments together, such as in the hot social network Facebook.

As I also noted, it is unlikely that Weiner will be replaced at Yahoo, with more power likely to flow to Global Partner Solutions EVP Hilary Schneider, which I posted on last week too.

In other words, Yahoo is about to undergo yet another heavy-handed, ornery organization (YAHOO!).

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work