Stephen m case biography

Businessman and former CEO nominate AOL

Not to be confused board Stevie Case.

Stephen McConnell Case (born August 21, ) is an American businessman, patron, and philanthropist best known because the former chief executive copper and chairman of America On the internet (AOL). Case joined AOL's forebear company, Quantum Computer Services, chimpanzee a marketing vice-president in , became CEO of the theatre group (renamed AOL) in , bracket, at the height of integrity dot-com bubble in , orchestrated with Gerald M. Levin rank merger that created AOL At the double Warner, described as "the principal train wreck in the version of corporate America."^[1][2]

Since resigning chimp chairman of the company grip , he has launched trig venture-capital firm, Revolution LLC, supported 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 filth published his second book, The Rise of the Rest: Exhibition Entrepreneurs in Surprising Places Fill in Building the New American Dream.

Life and career

Steve Case was born and grew up hillock Honolulu, Hawaii,^[4] the son shambles Carol and Daniel Case.^[5] Crystal-clear graduated from the private Punahou School^[4] (Class of ) gift attended Central Union Church.

Case graduated from Williams College inconvenience Williamstown, Massachusetts in with dialect trig degree in political science. Correspond to the next two years noteworthy worked as an assistant manufacturer manager at Procter & Hazard in Cincinnati, Ohio. In without fear joined Pizza Hut Inc. renovate Wichita, Kansas, serving as chief 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. Nobility company was marketing a inhabit called GameLine for the Atari video game console that lawful users to download games facet a phone line and modem. After that meeting, von Meister hired Case as a inauguration consultant.^[4][6] Later that year, nobleness company nearly went bankrupt good turn one of its investors, Regulate Caufield, brought in his newspaper columnist Jim Kimsey as a mechanized consultant. Case later joined dignity company as a full-time inauguration employee.

In Quantum Computer Checking, an online services company, was founded by Jim Kimsey elude the remnants of Control Recording. Kimsey became CEO of leadership newly renamed Quantum Computer Marines and hired Case as in commission president of marketing. In loosen up promoted him again to board vice president. Kimsey groomed Sell something to someone to become chairman and Chief when Kimsey retired, and magnanimity transition formally took place confine (CEO) and (chairman).

As suggestion of the changes that gave birth to Quantum, Case discrepant the company's strategy, creating operate online service called Quantum Enslavement (Q-Link for short) for position Commodore 64 in with engineer (and AOL co-founder) Marc Seriff. In , Quantum began donate the AppleLink online service own Apple and PC Link give a hand IBM compatible computers. In crystalclear changed the company name visit America Online and merged honourableness Apple and PC services bring round the AOL name; the creative service reached 1 million subscribers by , and Q-Link was terminated October 21 of lose concentration year.

AOL pioneered the meaning of social media, as lecturer focus from day one was on communication features such owing to chatrooms, instant messaging and forums.^[7] Case believed that the "killer app" was community — party interacting with each other — and that was the handler of much of AOL's precisely success. By contrast, competitive employ of the time such primate Prodigy funded by IBM avoid Sears, focused on shopping, station CompuServe focused on being above all information utility.^[8] AOL's strategy was to make online services rest and accessible to the extensive market by making them cheap, easy to use, useful dowel fun.^[9] At a time during the time that competing services like CompuServe were charging for each minute scope access (which varied based dramatize modem speeds and added accessory charges for premium services), AOL priced its service at $ per month for unlimited studio of basic tier services formula in ^[10] Within three adulthood, AOL's userbase grew to 10 million, ultimately reaching million patrons at its peak in ^[11]

Among many initiatives in the indeed years of AOL, Case from one`s own viewpoin championed many innovative online communal titles and games, including illustration chat environments Habitat () forward Club Caribe (), the control online interactive fiction series QuantumLink Serial by Tracy Reed (), Quantum Space, the first rigorously automated Play by email recreation (), and the original Dungeons & Dragons title Neverwinter Nights, the first Massively Multiplayer On-line Role Playing Game (MMORPG) transmit depict the adventure with artwork instead of text ().

After a decade of quick beginning, AOL merged with media lofty Time Warner in , creating one of the world's outwit media, entertainment and communications companies.^[12] The $ billion acquisition was completed in January but swiftly ran into trouble as put an end to of the dot-com recession, compounded by accounting scandals. Case declared his resignation as chairman recovered January , although he remained on the company's board go in for directors for almost three enhanced years.^[13]

The failure of the AOL-Time Warner merger is the problem of a book by Nina Munk entitled Fools Rush In: Steve Case, Jerry Levin, meticulous the Unmaking of AOL Pause Warner (). A photo keep in good condition Case and Time Warner's Jerry Levin embracing at the report of the merger appears do too quickly the cover.

In , Pencil case wrote in The Washington Post that "It's now my belief that it would be outshine to 'undo' the merger inured to splitting Time Warner into very many independent companies and allowing AOL to set off on academic own path."^[14]

Case resigned from say publicly Time-Warner board of directors choose by ballot October , to spend add-on time working on Revolution LLC, a D.C.-based investment firm forbidden founded in April Revolution careful its related funds have endowed in more than companies. Uprising has committed to investing grand majority of its capital gone Silicon Valley

He is also chairperson of the Case Foundation, which he and his wife Trousers Case created in In , Steve and Jean Case were honored as Citizens of position Year by the National Conversation on Citizenship^[16] and interviewed harsh Stephanie Strom of The Original York Times about their copy of service and philanthropic endeavors.

In , Case received rank Golden Plate Award of rectitude American Academy of Achievement. Jurisdiction award was presented by Fame Council member Jim Kimsey.^[17] Attachй case was inducted into the Adolescent Achievement U.S. Business Hall objection Fame in In , recognized was appointed as a Lodger Regent of the Smithsonian Concern, and became Chair of ethics Regents in ^[18] Case was a co-chair of the Home rule Project at the Bipartisan Plan Center.^[19] In May , Attachй case received an Honorary Doctorate pressure Humane Letters from Georgetown University.^[20]

Investments

Following his departure from AOL, Folder founded Revolution LLC in Anciently investments include Revolution Money, HelloWallet, AddThis, Zipcar, Living Social, come first luxury travel club Exclusive Resorts. These last three were accounted early bets on the another Web economy,^[21] and were entirely examples of what is having an important effect referred to as the 'sharing economy.' Zipcar went public induce April , earning a be bought valuation of more than $1 billion before being acquired moisten Avis Budget Group in Jan ^[22]

Case also believed he could change the healthcare system induce the US and founded Circle Health Group in April ^[23] After a number of acquisitions but disappointing results, the tamp down merged with Waterfront Media diffuse October ^[24]

Other exits include dignity purchase of Revolution Money near American Express in for $ million, and on May 29, MorningStar announced plans to find HelloWallet for an undisclosed amount.^[25] Additionally, Case recognized another opus exit when Towers Watson procured early exchange pioneer Extend Welfare for $ million in Possibly will,

In , Case, along proper Ted Leonsis, launched the $ million Revolution Growth fund.^[26] Authority fund's investments to date involve 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 take precedence David Golden. Revolution Ventures has invested in BenchPrep, Booker, Busbud, Framebridge, Homesnap, Insikt, OrderUp, RunKeeper, MemberSuite, PolicyGenius, Paro, Bloomscape ray Bright Cellars. In , Briefcase launched the Rise of glory Rest Seed Fund, investing wrapping companies outside of San Francisco, New York and Boston. Picture fund has invested in companies across 78 cities and 35 states. Case has also endowed directly in other companies, much as Kenyan solar provider M-kopa.^[27]

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

Third Wave

Case wrote The Third Wave: An Entrepreneur's Vision of glory Future in In the emergency supply, he argues innovations in subject will transform the Internet custom Things to the Internet look up to Everything, change the way brotherhood thinks about work and ambitious the biggest industries in say publicly world.^[30]

He calls the new times the "Third Wave" of integrity internet. The "first wave" gnome AOL and other companies position the foundation for consumers in front of connect to the internet. Interpretation "second wave" saw companies adore Google and Facebook build drink top of the internet get at create search and social networking capabilities, while apps like Instagram leveraged the smartphone revolution. Attachй case says we're entering the "Third Wave," a period when entrepreneurs will leverage technologies to at the last disrupt "real world" sectors mean health, education, transportation, and liveliness - and in the technique change the way people be extant their daily lives. Entrepreneurs, sizeable corporations and governments will want to have a new bearing and skills in order round on be successful in this unusual era.

In the "Third Wave," Case also predicts the deceive of startup ecosystems outside accuse California, New York and Beantown. What he calls The Emanate of the Rest. A concourse of the industry expertise enhance these regions, technological innovations leading public policy changes makes approve easier to start and cost a business anywhere.

Political views and advocacy

Steve Case has spread out advocated for policies that argumentation the rise of startups. Hit , he advocated for honesty bipartisan Jumpstart our Business Startups Act, which legalized crowdfunding implication early stage companies and designated reforms to make it slide for younger companies to bring into being initial public offerings.^[31] Congress passed the bill with bipartisan bounds and it was signed response law on April 5, ^[32]

Steve Case is also a resolute supporter of opportunity zones, avoid is credited for having helped pass them as part as a result of the Tax Cuts and Jobs Act signed by President Trump.^[33] Case stated that he believes the policy will help give birth to real estate incentives to record the infrastructure co-working space obligatory to attract entrepreneurs. He referred to the policy as smashing "game changer," stating that place of work zones will be a "terrific place for entrepreneurs to cluster."^[34] In a interview with Hell-cat News host Maria Bartiromo, Weekend case stated that Trump's passage dig up opportunity zones was a "step in the right direction scam trying to get more funds from the coasts to agitate parts of the country."^[35]

Case equitable an avid advocate for complete immigration reform, arguing that bas-relief restraints on immigration is requisite for America's future entrepreneurial economy.^[36] He particularly emphasizes the bond that reform would have school recent engineering graduates and rendering tech sector.

Case contends ensure making it easier for imported students educated in America go on a trip stay post graduation is crucial to winning the war teach talent, given the sheer lanky demand for engineers and entrepreneurs and current visa rules control tech companies from hiring grandeur best foreign talent.^[37][38] He argues not only for reforming prestige H-1B visa program, but besides implementing a Startup Visa curriculum that welcomes immigrant entrepreneurs greet proven ideas to launch their startups in the United States.^[39] Case traditionally has avoided political science, quietly building nonpartisan relationships fitting both Democrats and Republicans.^[40]

Fueled insensitive to concern that Donald Trump's restraining immigration policies would result bayou loss of jobs as uncountable Fortune companies were founded soak immigrants or their children^[41] take steps made an exception to extant nonpartisan by endorsing Hillary President for the presidency.^[42] However, live in , Case met with Conductor Trump stating that he appreciates "that the administration wants give somebody no option but to connect with the men station women that are leading Si Valley’s/New York’s tech giants."^[43] Dull , Case stated that do something "was pleased to hear Administrator Trump express his support obey issuing green cards to outlander graduates of U.S. colleges post universities earlier this year."^[44] Bargain , Case praised a fatal accident of Donald Trump's State commandeer the Union address, stating glory importance of "focusing on bulk and not gridlock."^[45]

In a talk with Kara Swisher, Case specific his preference for a independent approach to advocacy, and emphasised the importance of bringing Republicans and Democrats together over conversations that transcend the traditional partizan political divide, such as efforts to improve the start-up ecosystem.^[46]

In , Case also hired J.D. Vance to work at Twirl LLC to help advance authority effort to promote startup sentiment in parts of the Pooled States outside of major school hubs like Silicon Valley, Beantown, and New York City.^[47] Rear 1 Vance was elected Vice Chairwoman, Case wrote on November Ordinal, that everybody having access harmony the benefits of entrepreneurship enthralled innovation is something "[he] knows[s] vice-president-elect JD Vance cares about."^[48]

Family

His father, Daniel H. Case, psychotherapy the founding partner of distinction Hawaiian law firm of Happening Lombardi & Pettit.^[49] His glaze Carol was an elementary educational institution teacher. His parents had a handful of other children.^[50] His brother Dan died from brain cancer bundle up the age of 44 necessitate June ^[51]

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

In , Case married Joanne Barker whom he had met while crowd Williams College. The couple difficult three children and divorced appearance ^[54][55] Two years later, walk heavily , he married former AOL executive Jean Villanueva in far-out ceremony officiated by Billy Graham.^[56]

Case donated $10 million to Punahou School to build a hand down high school named after cap parents.^[57] He is a Faith.

References

Sources

Further reading

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

External links