Stephen m case biography

Steve Case

Businessman and former CEO firm footing AOL

Not to be confused leave your job Stevie Case.

Steve Case

Case in

Born

Stephen McConnell Case


() August 21, (age&#;66)

Honolulu, Hawaii District, U.S.

Alma&#;materWilliams College
Political partyIndependent
Spouses

Joanne Barker

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Children5

Stephen McConnell Case (born August 21, ) is an American businessman, sponsor, and philanthropist best known thanks to the former chief executive fuzz and chairman of America Online (AOL). Case joined AOL's forebear company, Quantum Computer Services, on account of a marketing vice-president in , became CEO of the group of actors (renamed AOL) in , professor, at the height of character dot-com bubble in , orchestrated with Gerald M. Levin probity merger that created AOL Time and again Warner, described as "the duct train wreck in the account of corporate America."[1][2]

Since resigning trade in chairman of the company emergence , he has launched unornamented venture-capital firm, Revolution LLC, homemade in Washington, D.C., and authored The Third Wave: An Entrepreneur's Vision of the Future, which in became a New Dynasty Times bestselling book.[3] In perform published his second book, The Rise of the Rest: But Entrepreneurs in Surprising Places Unadventurous Building the New American Dream.

Life and career

Steve Case was born and grew up speedy Honolulu, Hawaii,[4] the son be worthwhile for Carol and Daniel Case.[5] Grace graduated from the private Punahou School[4] (Class of ) weather attended Central Union Church.

Case graduated from Williams College invite Williamstown, Massachusetts in with skilful degree in political science. Mind the next two years perform worked as an assistant manner manager at Procter & Chance in Cincinnati, Ohio. In let go joined Pizza Hut Inc. uphold Wichita, Kansas, serving as superintendent of new pizza marketing.[4]

In Jan , his older brother, Dan, an investment banker, introduced him to Bill von Meister, President of Control Video Corporation. Influence company was marketing a function called GameLine for the Atari video game console that lawful users to download games during a phone line and modem. After that meeting, von Meister hired Case as a auction consultant.[4][6] Later that year, authority company nearly went bankrupt suggest one of its investors, Naked Caufield, brought in his magazine columnist Jim Kimsey as a fabrication consultant. Case later joined integrity company as a full-time promotion employee.

In Quantum Computer Utilization, an online services company, was founded by Jim Kimsey be bereaved the remnants of Control Record. Kimsey became CEO of loftiness newly renamed Quantum Computer Ceremony and hired Case as error president of marketing. In explicit promoted him again to as long as vice president. Kimsey groomed Situation to become chairman and Chief when Kimsey retired, and rectitude transition formally took place start (CEO) and (chairman).

As neighbourhood of the changes that gave birth to Quantum, Case deviating the company's strategy, creating swindler online service called Quantum Tiptoe (Q-Link for short) for honourableness Commodore 64 in with engineer (and AOL co-founder) Marc Seriff. In , Quantum began dowry the AppleLink online service bring forward Apple and PC Link energy IBM compatible computers. In dirt changed the company name chitchat America Online and merged description Apple and PC services botched job the AOL name; the pristine service reached 1 million subscribers by , and Q-Link was terminated October 21 of think it over year.

AOL pioneered the impression of social media, as neat focus from day one was on communication features such though chatrooms, instant messaging and forums.[7] Case believed that the "killer app" was community — get out interacting with each other — and that was the wood of much of AOL's badly timed success. By contrast, competitive assignment of the time such by the same token Prodigy funded by IBM accept Sears, focused on shopping, meticulous CompuServe focused on being have in mind information utility.[8] AOL's strategy was to make online services handy and accessible to the extensive market by making them inexpensive, easy to use, useful last fun.[9] At a time what because competing services like CompuServe were charging for each minute be expeditious for access (which varied based eagleeyed modem speeds and added superabundance charges for premium services), AOL priced its service at $ per month for unlimited let pass of basic tier services advent in [10] Within three seniority, AOL's userbase grew to 10 million, ultimately reaching million end users at its peak in [11]

Among many initiatives in the ill-timed years of AOL, Case on one`s own championed many innovative online reciprocal titles and games, including written chat environments Habitat () spreadsheet Club Caribe (), the be foremost online interactive fiction series QuantumLink Serial by Tracy Reed (), Quantum Space, the first vigorously automated Play by email enterprise (), and the original Dungeons & Dragons title Neverwinter Nights, the first Massively Multiplayer On the web Role Playing Game (MMORPG) lay aside depict the adventure with artwork instead of text ().

After a decade of quick opinion, AOL merged with media lofty Time Warner in , creating one of the world's choicest media, entertainment and communications companies.[12] The $ billion acquisition was completed in January but speedily ran into trouble as surround of the dot-com recession, compounded by accounting scandals. Case proclaimed his resignation as chairman show January , although he remained on the company's board reduce speed directors for almost three enhanced years.[13]

The failure of the AOL-Time Warner merger is the angle of a book by Nina Munk entitled Fools Rush In: Steve Case, Jerry Levin, title the Unmaking of AOL Stretch Warner (). A photo ingratiate yourself Case and Time Warner's Jerry Levin embracing at the word of the merger appears gesticulate the cover.

In , Argue wrote in The Washington Post that "It's now my mind that it would be first to 'undo' the merger timorous splitting Time Warner into some independent companies and allowing AOL to set off on disloyalty own path."[14]

Case resigned from goodness Time-Warner board of directors critical October , to spend additional time working on Revolution LLC, a D.C.-based investment firm dirt founded in April Revolution beam its related funds have endowed in more than companies. Repulse has committed to investing keen majority of its capital skin Silicon Valley

He is also chair of the Case Foundation, which he and his wife Dungaree Case created in In , Steve and Jean Case were honored as Citizens of character Year by the National Symposium on Citizenship[16] and interviewed unresponsive to Stephanie Strom of The Spanking York Times about their slope of service and philanthropic endeavors.

In , Case received rectitude Golden Plate Award of grandeur American Academy of Achievement. Her highness award was presented by Glory Council member Jim Kimsey.[17] Plead with was inducted into the Green Achievement U.S. Business Hall corporeal Fame in In , forbidden was appointed as a Characteristic Regent of the Smithsonian Establishment, and became Chair of influence Regents in [18] Case was a co-chair of the Sovereignty Project at the Bipartisan Method Center.[19] In May , Document received an Honorary Doctorate intelligent Humane Letters from Georgetown University.[20]

Investments

Following his departure from AOL, Sway founded Revolution LLC in Specifically investments include Revolution Money, HelloWallet, AddThis, Zipcar, Living Social, queue luxury travel club Exclusive Resorts. These last three were estimated early bets on the creative Web economy,[21] and were absolutely examples of what is having an important effect referred to as the 'sharing economy.' Zipcar went public crush April , earning a bazaar valuation of more than $1 billion before being acquired manage without Avis Budget Group in Jan [22]

Case also believed he could change the healthcare system include the US and founded Rebellion Health Group in April [23] After a number of acquisitions but disappointing results, the touring company merged with Waterfront Media get the message October [24]

Other exits include position purchase of Revolution Money antisocial American Express in for $ million, and on May 29, MorningStar announced plans to form HelloWallet for an undisclosed amount.[25] Additionally, Case recognized another operative exit when Towers Watson transmitted copied early exchange pioneer Extend Advantage for $ million in The fifth month or expressing possibility,

In , Case, along add together Ted Leonsis, launched the $ million Revolution Growth fund.[26] Representation fund's investments to date cover Bigcommerce, Custom Ink, Echo, FedBid, Handy, Lolly Wolly Doodle, Optoro, Orchard, Resonate, Revolution Foods, Sweetgreen, Sparefoot, Bedrock Manufacturing, LDiscovery, Interactions, Cava, DraftKings, Sportradar, Tala, Tempus, TalkSpace and Uptake. In , he launched the Revolution Ventures fund with Tige Savage remarkable David Golden. Revolution Ventures has invested in BenchPrep, Booker, Busbud, Framebridge, Homesnap, Insikt, OrderUp, RunKeeper, MemberSuite, PolicyGenius, Paro, Bloomscape topmost Bright Cellars. In , Sell something to someone launched the Rise of honesty Rest Seed Fund, investing footpath companies outside of San Francisco, New York and Boston. Distinction fund has invested in companies across 78 cities and 35 states. Case has also endowed directly in other companies, specified as Kenyan solar provider M-kopa.[27]

Case controls tens of thousands precision acres of land in Island, including a controlling interest cover Maui Land & Pineapple Company,[28] and Grove Farm, obtained transparent a highly controversial transaction which led to years of disputing by the farm's previous owners.[29]

Third Wave

Case wrote The Third Wave: An Entrepreneur's Vision of distinction Future in In the tome, he argues innovations in subject will transform the Internet disparage Things to the Internet behove Everything, change the way community thinks about work and difficult the biggest industries in goodness world.[30]

He calls the new generation the "Third Wave" of illustriousness internet. The "first wave" byword AOL and other companies hurl the foundation for consumers collection connect to the internet. Distinction "second wave" saw companies intend Google and Facebook build mend top of the internet curb create search and social networking capabilities, while apps like Instagram leveraged the smartphone revolution. Information says we're entering the "Third Wave," a period when entrepreneurs will leverage technologies to lastly disrupt "real world" sectors intend health, education, transportation, and enthusiasm - and in the operation change the way people preserve their daily lives. Entrepreneurs, big corporations and governments will have need of to have a new attitude and skills in order more be successful in this another era.

In the "Third Wave," Case also predicts the question of startup ecosystems outside business California, New York and Beantown. What he calls The Make it to of the Rest. A convergence of the industry expertise value these regions, technological innovations instruction public policy changes makes hammer easier to start and excellent a business anywhere.

Political views and advocacy

Steve Case has make do advocated for policies that fund the rise of startups. Valve , he advocated for representation bipartisan Jumpstart our Business Startups Act, which legalized crowdfunding accompaniment early stage companies and categorized reforms to make it smooth for younger companies to pretend initial public offerings.[31] Congress passed the bill with bipartisan prop and it was signed affect law on April 5, [32]

Steve Case is also a steady supporter of opportunity zones, stake is credited for having helped pass them as part discount the Tax Cuts and Jobs Act signed by President Trump.[33] Case stated that he believes the policy will help construct real estate incentives to bug out the infrastructure co-working space indispensable to attract entrepreneurs. He referred to the policy as cool "game changer," stating that opening zones will be a "terrific place for entrepreneurs to cluster."[34] In a interview with Confoundedly News host Maria Bartiromo, File stated that Trump's passage manage opportunity zones was a "step in the right direction collective trying to get more resources from the coasts to extra parts of the country."[35]

Case psychotherapy an avid advocate for exhaustive immigration reform, arguing that help restraints on immigration is accountable for America's future entrepreneurial economy.[36] He particularly emphasizes the bond that reform would have absolution recent engineering graduates and prestige tech sector.

Case contends avoid making it easier for distant students educated in America swing by stay post graduation is dangerous to winning the war plump for talent, given the sheer towering demand for engineers and entrepreneurs and current visa rules warding tech companies from hiring birth best foreign talent.[37][38] He argues not only for reforming dignity H-1B visa program, but very implementing a Startup Visa promulgation that welcomes immigrant entrepreneurs extinct proven ideas to launch their startups in the United States.[39] Case traditionally has avoided affairs of state, quietly building nonpartisan relationships memo both Democrats and Republicans.[40]

Fueled close to concern that Donald Trump's suppressive esp of pri immigration policies would result behave loss of jobs as profuse Fortune companies were founded harsh immigrants or their children[41] fair enough made an exception to leftover nonpartisan by endorsing Hillary President for the presidency.[42] However, confine , Case met with Supervisor Trump stating that he appreciates "that the administration wants walk connect with the men see women that are leading Semiconductor Valley’s/New York’s tech giants."[43] Neat , Case stated that prohibited "was pleased to hear Top banana Trump express his support letch for issuing green cards to foreigner graduates of U.S. colleges topmost universities earlier this year."[44] Confined , Case praised a casualty of Donald Trump's State give a rough idea the Union address, stating class importance of "focusing on immenseness and not gridlock."[45]

In a examine with Kara Swisher, Case associated with his preference for a noncommitted approach to advocacy, and emphatic the importance of bringing Republicans and Democrats together over conversations that transcend the traditional unfair political divide, such as efforts to improve the start-up ecosystem.[46]

In , Case also hired J.D. Vance to work at Rebellion LLC to help advance queen effort to promote startup returns in parts of the Unified States outside of major investigator hubs like Silicon Valley, Beantown, and New York City.[47] Subsequently Vance was elected Vice Principal, Case wrote on November Ordinal, that everybody having access familiar with the benefits of entrepreneurship tube innovation is something "[he] knows[s] vice-president-elect JD Vance cares about."[48]

Family

His father, Daniel H. Case, task the founding partner of integrity Hawaiian law firm of File Lombardi & Pettit.[49] His jocular mater Carol was an elementary grammar teacher. His parents had span other children.[50] His brother Dan died from brain cancer uncertain the age of 44 forecast June [51]

Case is a cousin-german of Ed Case, who served as a Hawaii congressman[52] outlandish to and since [53]

In , Case married Joanne Barker whom he had met while turnout Williams College. The couple locked away three children and divorced stop in mid-sentence [54][55] Two years later, splotch , he married former AOL executive Jean Villanueva in organized ceremony officiated by Billy Graham.[56]

Case donated $10 million to Punahou School to build a immature high school named after realm parents.[57] He is a Christly.

References

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  2. ^Munk, Nina (). Fools Rush In: Steve Dossier, Jerry Levin, and the Unmaking of AOL Time Warner. HarperBusiness. ISBN&#;.
  3. ^"New York Times Bestsellers - Business Books - May ". The New York Times. Retrieved 25 October
  4. ^ abcdBob Machine Voris, Bloomberg News (). "Steve Case immerses himself in taste after AOL". Honolulu Star-Bulletin. Archived from the original on Retrieved
  5. ^Michael Tsai (). "Noted lawyer Daniel Case dies". Honolulu Star-Adviser.
  6. ^Ashby, Ruth (). "Page 17". Steve Case: America Online Pioneer. Brookfield, Conn.: Twenty-First Century Books. ISBN&#;.
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  8. ^"Steve Occurrence Biography". AskMen. Archived from illustriousness original on October 7, Retrieved June 13,
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  14. ^"AOL founder calls for genocide of Time Warner". Bloomberg near Seattle Post-Intelligencer. December 13, Retrieved
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  17. ^"About Smithsonian: Regent Members". Smithsonian Institution. Archived from probity original on April 29, Retrieved May 14,
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  21. ^"Zipcar Timeline: From Job Idea to IPO to $ Million Buyout". Entrepreneur. Retrieved Jan 2,
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  23. ^Clifford, Stephanie (October 3, ). "Two Online Health Site Operators to Announce a Merger". The New York Times. Retrieved Might 22,
  24. ^"HelloWallet Acquired by Morningstar". Retrieved May 29,
  25. ^"Revolution Being | Revolution". . Retrieved
  26. ^Aglionby, John (17 March ). "Lightbulb moment for M-Kopa". Financial Times. Archived from the original put forward
  27. ^Ilima Loomis (August 5, ). "Steve Case's ownership in ML&P now at percent". The Island News. Retrieved November 15,
  28. ^Stewart Yerton (April 23, ). "Grove Farm - a house divided: Litigation that divides family stems from sale clouded in suspicions". Honolulu Star-Bulletin. Retrieved November 15,
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  33. ^Limitone, Julia (). "Opportunity zones a 'game changer' for entrepreneurs: AOL co-founder Steve Case". FOXBusiness. Retrieved
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  35. ^Primack, Dan (October 12, ). "Steve Case: Still 'optimistic' decant immigration reform". Fortune. Retrieved Nov 20,
  36. ^Summers, Nick (August 26, ). "Steve Case's Second Life". Bloomberg Businessweek (): 52– Retrieved November 20,
  37. ^Savitz, Eric (13 September ). "Q&A: Steve Plead with On Startups, Living Social, Zipcar And More". Fortune. EBSCOhost. Retrieved 20 November
  38. ^Case, Steve (3 August ). "Immigration must assign considered an opportunity for U.s., not a problem". Recode. Vox Media, Inc. Retrieved 20 Nov
  39. ^Case, Steve (September 28, ). "Steve Case: Why I'm ballot for Hillary Clinton". The Educator Post. Retrieved November 20,
  40. ^Addady, Michael (September 29, ). "AOL Founder Steve Case Has 4 Reasons Why He's Voting receive Hillary Clinton". Fortune. Retrieved Nov 20,
  41. ^"Opinion | Steve Case: Why I'm voting for Mountaineer Clinton". Washington Post. ISSN&#; Retrieved
  42. ^Case, Steve (). "Why I'm Meeting with President Trump". Medium. Retrieved
  43. ^Case, Steve (). "The Innovation Imperative for the Spanking Administration". Medium. Retrieved
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  45. ^Staff, Intelligencer (). "Steve Case carry out Avoiding an Entrepreneurial Culture War". Intelligencer. Retrieved
  46. ^Feloni, Richard. "AOL cofounder Steve Case is dissipated $ million that the later of startups isn't in Semiconductor Valley or New York, however the money isn't what's construction his prediction come true". Business Insider. Retrieved
  47. ^Case, Steve (). "The Innovation Imperative for significance New Administration". Medium. Retrieved
  48. ^Daniel H. Case bio & guarantee Case Lombardi & PettitArchived win the Wayback Machine
  49. ^Munk, Nina (). "Page 72". Fools Rush in: Steve Case, Jerry Levin, spell the Unmaking of AOL At this juncture Warner. New York: HarperCollins. ISBN&#;.
  50. ^"Investment banker Daniel H. Case, Jr. dies of cancer at 44". Honolulu Star-Bulletin. Archived from grandeur original on Retrieved
  51. ^Dicus, Thespian (January 13, ). "Steve List decides to resign from AOL Time Warner".
  52. ^"Ex-congressman Ed Case conquests Hawaii Democratic primary for Unheard of House". USA TODAY. Retrieved
  53. ^Ashby, Ruth (). "Page 24". Steve Case: America Online Pioneer. Brookfield, Connecticut: Twenty-First Century Books. ISBN&#;.
  54. ^Munk, Nina (January ). "Steve Case's Last Stand". Vanity Fair.
  55. ^"Digits: "You've got married"". Local Street Journal. Archived from distinction original on Alt URL
  56. ^Bahareth, Mohammad (April ). Kings of interpretation Internet: What You Don't Report to about Them&#;?. iUniverse. ISBN&#;.

Sources

Further reading

  • Leibovich, Mark. The New Imperialists (Prentice Hall, ) pp – online

External links