Marc Andreessen

A middle-aged white guy (who is also an innovator in the field of conflict-of-interest resolution) has some harsh words for an older white guy who had the audacity to question the validity of something that appears highly validity-impaired at the moment. Read more »

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.” Read more »

Today, we learned two things about Mt. Gox CEO Mark Karpelès: He owns a suit and is, in fact, still in Japan, where he made a quick trip to Tokyo District court to place his collapsed bitcoin exchange into bankruptcy, after hackers made off with half a billion dollars worth of fake money.

Bitcoin exchange Mt. Gox said Friday it was filing for bankruptcy protection after losing almost 750,000 of its customers’ bitcoins, marking the collapse of a marketplace that once dominated trading in the virtual currency.

The company said it also lost around 100,000 of its own bitcoins. Together, the lost bitcoins would be worth approximately $473 million at market prices charted by the CoinDesk bitcoin index, although the price of Mt. Gox bitcoin had fallen well below that index after it stopped bitcoin withdrawals in early February….

“There was some weakness in the system, and the bitcoins have disappeared. I apologize for causing trouble,” Mr. Karpelès said during a packed news conference at the Tokyo District Court press club.

The company’s lawyer said at the news conference that Mt. Gox had outstanding debt of about ¥6.5 billion ($63.6 million) with assets worth ¥3.84 billion.

Karpelès said that “reducing the impact” of his firm’s failure “is the most important point.” That, however, may no longer be possible. Read more »

Carl Icahn thinks that eBay should spin off PayPal, and to prove it, he said a couple of eBay’s more prominent directors have more conflicts of interest than he has years. What he didn’t know is that one of them, Netscape founder and Silicon Valley legend Marc Andreessen, has a fool-proof system for avoiding such delicate situations: Whenever one of the seven boards of directors on which he serves starts talking about an area in which he has an interest—presumably all of them—he just closes his eyes and puts his headphones on and, presto, no conflict of interest. Read more »