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 Subscribe to Bloggers speak out on BradReese.Com Why Cisco passed on buying VMware
According to Cisco's former senior vice president of corporate development, Dan Scheinman: "Back in the early 2000s, he proposed that Cisco buy a software company called VMware.
"It did not go over well. 'Cisco is a hardware company,' the suits informed him.
"Why mess around with software?"
Hummelstown, PA: Tue, 3/25/14 - 6:33pm View comments
"The brutal ageism of tech...years of experience, plenty of talent, completely obsolete..."
Silicon's Valley's Brutal Ageism
In 17-months I'll be 60-years old, so the New Republic story struck a nerve to say the least, for example it states:
"We now have a large and growing class of highly trained, objectively talented, surpassingly ambitious workers who are shunted to the margins, doomed to haunt corporate parking lots and medical waiting rooms."
"Back in the early 2000s, he proposed that Cisco buy a software company called VMware.
"It did not go over well. 'Cisco is a hardware company,' the suits informed him. Why mess around with software?"
The New Republic continued:
"Not that this shook his confidence. Scheinman simply concluded that he would have better luck if he made investments without clearing them through a bureaucracy.
"VMware, after all, became a $50-billion success.
"And yet, when Scheinman left Cisco in 2011 to become a venture capitalist (V.C.), he attracted not the slightest bit of interest from the established firms on Sand Hill Road."
Personally, I believe Dan Scheinman has seized upon a unique opportunity, how so you may ask?
Well, according to a San Jose Mercury News story about Scheinman:
"The brazen ageism that he has often encountered among younger entrepreneurs. I'd hear 'Cisco is irrelevant, you're old, you're stupid,' he says. 'The level of hubris among the 25-year-olds, the ones who are getting funding, is very high.'
"Age bias, increasingly acknowledged as a widespread phenomenon in Silicon Valley, has created opportunity too.
"Scheinman has invested directly in eight companies since 2010, all with chief executive officers age 35 or older."
Moneyball, valley-style: Investor uses age bias to advantage, funds older entrepreneurs
Moral of the story?
There's a heck of a lot of opportunity out there for Cisco's baby boomer employees.
So go for it and kick major butt!
Related document:
EMC Completes Acquisition of VMware
Related stories:
New Republic: Silicon's Valley's Brutal Ageism
San Jose Mercury News: Moneyball, valley-style: Investor uses age bias to advantage, funds older entrepreneurs
Network World: John Chambers to give keynote at VMworld 2007 after buying $150 million of VMware stock
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