Andreessen Horowitz Charges Employees $10 Per Minute If They're Late To Meetings
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Silicon Valley venture capital firm Andreessen Horowitz charges its staff $10 per minute if they're late for a meeting with entrepreneurs.
In a blog post announcing the hire of Scott Weiss as its fourth partner, Ben Horowitz explains that the firm puts a premium on being attentive to entrepreneurs, and doesn't want to be like other VC firms where partners "show up to meetings late then spend the entire meeting on their phones and computers."
Horowitz also explains that Weiss fit all of the firm's criteria for a general partner: he's sold a company (messaging security company IronPort, to Cisco for $830 million), picked a winning product that nobody else believed in (Hotmail), and has been generally praised as a smart guy by the entrepreneurs he's worked with.
Last week, we talked to the firm's third partner, John O'Farrell, about investment philosophies, bubbles, and why Silicon Valley is the best place to form a tech company.
Don't miss: What's It Like Being A Partner At Silicon Valley's Most Powerful VC Firm?
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