Tag Archives: Venture Capitalists

Jews of the Week: Sergey Brin and Larry Page

Google!

Sergey Mikhaylovich Brin (b. 1973) was born in Moscow to Russian-Jewish parents. After many long months trying to emigrate from the Soviet Union, the family was finally permitted to leave in the spring of 1979, when Brin was six years old. The family lived in Vienna, then Paris, and finally made it to the US with help from the Hebrew Immigrant Aid Society. Brin’s father got a job as a math professor at the University of Maryland, and his mother worked as a researcher for NASA. Following in his parents’ footsteps, Brin studied math and computer science at the University of Maryland. He went on to do graduate studies at Stanford, and there met Larry Page.

Lawrence Edward Page (b. 1973) was born in Michigan. His mother is Jewish, and his grandfather lives in Israel. Page’s parents were both computer scientists, and he grew up immersed in technology. He was also passionate about music, and credits music training with helping to shape his analytical mind. Page studied computer engineering at the University of Michigan before heading over to Stanford. Together with Brin, the two co-authored a paper on “The Anatomy of a Large-Scale Hypertextual Web Search Engine”. They then developed a new algorithm that would dramatically improve the capabilities of search engines. Brin and Page used their dorm rooms as office and lab, scrapping together whatever money they could for servers and other parts, and slowly building the infrastructure for their new search engine. (There were a number of other people involved, too, who were instrumental in its development.) The new search engine, originally called BackRub, was launched on the Stanford website in 1996. By the following year, Brin and Page understood that the search engine had the potential to transform the world. They renamed it “Google”, and bought the google.com domain on September 15, 1997 (twenty-three years ago, today). The rest is history.

Last year, Brin and Page both stepped down from Google (and its new parent company, Alphabet) though they are still employees and controlling shareholders. Both are big investors in green technology, space exploration, life extension, and Tesla Motors. They are also noted philanthropists. Among their donations are Brin’s $1 million to the Hebrew Immigrant Aid Society, and over $160 million to fight Parkinson’s disease (which his mother suffers from); and Page’s $15 million to fight Ebola and over $20 million to find treatments for vocal cord illnesses, which he suffers from. Brin and Page are currently the 13th– and 14th-richest people in the world.

Words of the Week

You always hear the phrase, “money doesn’t buy you happiness”. But I always, in the back of my mind, figured a lot of money will buy you a little bit of happiness. But it’s not really true.
– Sergey Brin

Google’s first logo, as it appeared on September 15, 1997 when the website was launched.

Jew of the Week: Yuri Milner

Yuri Bentsionovich Milner (b. 1961) was born in Moscow. He studied theoretical physics at Moscow State University before working at the prestigious Lebedev Physical Institute. He found that his abilities in physics were not the best (especially because he was placed on a lower track due to his being Jewish), and decided to switch to business. He first tried selling computers, then went to do an MBA at the University of Pennsylvania, becoming the first person from the Soviet Union to officially study in the US. Upon graduation, he got a job at the World Bank, and in 1995 was made CEO of Russian oligarch Mikhail Khodorkovsky’s investment company. In 1999, Milner read an article and decided it was a good idea to start an online business. He began a series of ventures that brought American-style sites to Russia, including Molotok.ru (the Russian eBay), Boom.ru (free webhosting), and 24×7 (Russia’s Amazon). In 2005, Milner established his own investment fund, Digital Sky Technologies. Five years later, his Mail.ru went public on the London Stock Exchange with a valuation of $5.6 billion. That same year, Milner bought pioneering Israeli instant messaging company ICQ, and has since invested an additional $150 million in Israeli startups. Milner’s venture capital fund has become one of the world’s greatest. He was among the first to invest in Facebook, with an initial $200 million, and plenty more since. He also invested $800 million in Twitter, $125 million in WhatsApp, and $1.6 billion in Alibaba, in addition to Groupon, Snapchat, Airbnb, and Spotify. In 2012, Milner established the Breakthrough Prize, awarding $3 million to great achievements in Physics, Life Sciences, and Mathematics. This is now the largest scientific award in the world, trumping even the Nobel Prize. In 2015, Milner founded the Breakthrough Initiatives to investigate life on other planets. Its first project is a $100 million, 10-year endeavour called “Listen”, searching for radio and laser signals from distant stars with the most sensitive equipment in the world. The most recent Breakthrough Initiative is “Starshot”, investing $100 million to develop a spacecraft that will be accelerated to 20% of the speed of light and take a 20 year journey to our nearest star. Milner also awards (together with Mark Zuckerberg) a $250,000 scholarship to the winner of the Breakthrough Junior Challenge, in addition to $50,000 for that student’s science teacher, and $100,000 for the student’s school science lab. Milner has been on Fortune‘s list of 50 Greatest World Leaders, and TIME’s 100 Most Influential People. He was voted Russia’s Businessman of the Year in 2010, and Man of the Year in 2011, and has been described as “the most interesting man in the world”. Milner recently purchased a house in Los Altos for $100 million, the most ever paid for a single-family home in US history (which the modest Milner was quite embarrassed about). He regularly attends the local synagogue. Milner made the news once again a couple of weeks ago when his Breakthrough Listen project discovered mysterious radio bursts from a distant galaxy, sparking whispers of the possibility of life elsewhere in the universe.

Words of the Week

An atheist has to know a lot more than I know. An atheist is someone who knows there is no god. By some definitions, atheism is very stupid.
– Carl Sagan