Carl Icahn, Marc Andreessen Find Common Ground

Uncle Carl thinks that the Netscape founder thinks he’s stupid or lying, re: all of Andreessen’s conflicts of interest as an eBay board member. Marc Andreessen is happy to confirm as much, and to raise him one “hypocrite.”

In my opinion, Mr. Andreessen’s conflicts are clear and insurmountable. However, Mr. Andreessen attempted to defend himself, telling the Wall Street Journal that “he recuses himself from boardroom discussions that could involve companies his firm is backing.” Seriously? Mr. Andreessen expects eBay stockholders to be comforted by the fact that he self-polices himself? Excuse me if I do not find that nearly sufficient – especially in light of the Skype fiasco.

False and misleading accusations have been made against eBay and against me in my role as an eBay director….

Throughout the eBay board’s process of divesting Skype, I fully disclosed my potential interest and recused myself from all deliberations on the transaction, including all discussions, negotiations, and decisions. I was uninvolved in eBay’s decision to spin off Skype and in eBay’s decision to choose to partner with the Silver Lake syndicate….

I do not serve on the board of any company with any significant competitive overlap with eBay….

Some people have also floated a theory that venture capitalists are more prone to potential conflicts than other kinds of directors due to their investments in multiple companies at once. I also don’t think that’s true. For example, activist hedge fund managers also tend to hold equity stakes in many companies at the same time, creating the exact same kind of potential conflict.

Open Letter to eBay Shareholders [Shareholders’ Square Table]
My Statement on eBay Director Role and Governance [Marc Andreessen blog]

5 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (5)

  1. Posted by Guest | March 4, 2014 at 4:19 PM

    Is it a conflict of interest you write this after your "word up" from Carl Icahn?

  2. Posted by Felixthecat | March 4, 2014 at 4:54 PM

    Hey Yous Guys. Chaz here. Dats why dis guy likes me so much. Dis is just like me. He teaches people lessons to Gaspo way – punch 'm in da gut, kick m in da balls, spit in their face, amd tell dem how you banged their mom. Dats why da guys at CNBC gots togedder to gang up on me and get me fired. I taught dem a lesson two. FBN let's me do anyting I want as da ratins is so bad.

    Take for example da guy who was pickin on da size of my wife. I paid da waiter at Elios to spit in his meal and den spill a drink on him. Den, when we's got outside, I punched him out as he waitin for da cab.

    Me and Carl is a lot alike.

  3. Posted by Quant me maybe... | March 4, 2014 at 5:29 PM

    Mark Andreesen is a good 'company fucker upper'.

    Not sure if Carl Icahn is a good 'company fixer upper' but he has a point.

    > When he gets on a board things are going wrong or are going to go wrong.

  4. Posted by CoolerCat | March 4, 2014 at 6:33 PM

    Dude,

    I remember Felix the Cat – a cool cat indeed.

    You are not a cool cat as this is pretty mean. Granted – Charlie is one of the biggest Aholes on the planet, his wife is essentially a cow, his broken English is almost as offensive as his greaser look/attire to include gold chains, his behavior and psychological profile reflect the insecurities of someone likely sexually abused as a child and his constant reference to "we broke dat story" is both false and annoying. In fact beating a press release by 10 seconds is not "breaking news" as much as it is "breaking gas" (hence GASparino). Still, you'd be a lot cooler a cat if you cut with the gangster speak in your writing and simply called him for the lying, insecure, minor league hack that he is.

    We all know that FBN is a pathetic joke as are Cavuto, McKee, et al are idiots. They spend Roger/Rupert's money on losers like themselves and Charlie and then have to really pay up for someone like Maria to come in and save their collective asses. Their hope is that Maria will do the the opening bell what IMUS did for the early show. After that they got nothing! So who their next savior – Betty Lieu?

  5. Posted by 70Columbus | March 4, 2014 at 6:40 PM

    Directors always have a duty of loyalty. Shareholders may or may not depending at least in part on %age ownership, which will generally be higher than Carl purchases. Andreessen probably knows this as a board member and private investor. The lawyers who helped him and his PR firm with the response certainly know this. So he's attacking Carl with a non-truth. That should piss him off – this thing's getting legs.