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The New New Thing: A Silicon Valley Story 1st Edition
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Michael Lewis was supposed to be writing about how Jim Clark, the founder of Silicon Graphics and Netscape, was going to turn health care on its ear by launching Healtheon, which would bring the vast majority of the industry's transactions online. So why was he spending so much time on a computerized yacht, each feature installed because, as one technician put it, "someone saw it on Star Trek and wanted one just like it?"
Much of The New New Thing, to be fair, is devoted to the Healtheon story. It's just that Jim Clark doesn't do startups the way most people do. "He had ceased to be a businessman," as Lewis puts it, "and become a conceptual artist." After coming up with the basic idea for Healtheon, securing the initial seed money, and hiring the people to make it happen, Clark concentrated on the building of Hyperion, a sailboat with a 197-foot mast, whose functions are controlled by 25 SGI workstations (a boat that, if he wanted to, Clark could log onto and steer--from anywhere in the world). Keeping up with Clark proves a monumental challenge--"you didn't interact with him," Lewis notes, "so much as hitch a ride on the back of his life"--but one that the author rises to meet with the same frenetic energy and humor of his previous books, Liar's Poker and Trail Fever.
Like those two books, The New New Thing shows how the pursuit of power at its highest levels can lead to the very edges of the surreal, as when Clark tries to fill out an investment profile for a Swiss bank, where he intends to deposit less than .05 percent of his financial assets. When asked to assess his attitude toward financial risk, Clark searches in vain for the category of "people who sought to turn ten million dollars into one billion in a few months" and finally tells the banker, "I think this is for a different ... person." There have been a lot of profiles of Silicon Valley companies and the way they've revamped the economy in the 1990s--The New New Thing is one of the first books fully to depict the sort of man that has made such companies possible. --Ron Hogan --This text refers to an out of print or unavailable edition of this title.
From Publishers Weekly
While it purports to look at the business world of Silicon Valley through the lens of one man, that one man, Jim Clark, is so domineering that the book is essentially about Clark. No matter: Clark is as successful and interesting an example of Homo siliconus as any writer is likely to find. Lewis (Liar's Poker) has created an absorbing and extremely literate profile of one of America's most successful entrepreneurs. Clark has created three companiesASilicon Graphics, Netscape (now part of America Online) and HealtheonAeach valued at more than $1 billion by Wall Street. Lewis was apparently given unlimited access to Clark, a man motivated in equal parts by a love of the technology he helps to create and a desire to prove something to a long list of people whom he believes have done him wrong throughout his life (especially his former colleagues at Silicon Graphics). As Lewis looks at the various roles of venture capitalists, entrepreneurs and programmers and at how these very different mindsets fit together in the anatomy of big deals, he gives readers a sense of how the Valley works. But the heart of the book remains Clark, who simultaneously does everything from supervise the creation of what may be the world's largest sloop to creating his fourth company (currently in the works). Lewis does a good job of putting Clark's accomplishments in context, and if he is too respectful of Clark's privacy (several marriages and children are mentioned but not elaborated on), he provides a detailed look at the professional life of one of the men who have changed the world as we know it. (Oct.)
Copyright 1999 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
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Top customer reviews
Explaining the how's, why's, and differences between the old way of doing things and the new (or new new) way of doing things can be tricky, because it assumes you have some understanding of how the old (or old old) way of doing things works. I'm not a Wall Street investor, but I felt not only capable of understanding Lewis' framework of explanation, but I felt like I could extrapolate deeper meaning from it. He manages to paint fascinating pictures of all the people involved in the pursuit of the new new thing and how their constellation manages to orbit itself as it becomes standard operating practice in the growing tech industry.
I also felt like I could better understand how the minds of billionaire "executives" (as Lewis points out, Jim Clark wasn't exactly sure how to describe exactly what it was he does) and how they anticipate the next new new thing, why it interests them, and how quickly it starts to lose their interest. If you can understand someone like Clark, you can start to understand the industry.
Does that that mean I wouldn't recommend it? No! I still liked it, and would recommend it as a "good" read, I was disappointed because I expect a "great" read from this author.
Although I doubt commercial interest warrants, this book could use an updated epilogue, particularly surrounding Healtheon/WebMD, which I have to think does not at all match the original vision.
As usual, very well written and engaging; always the case with Lewis. I didn't find Jim Clark as sympathetic as I think I was intended to, and as a result some of the chapters focused on him personally (especially his flying a helicopter, and sailing his boat across the Atlantic) dragged a bit.
Lewis is a master of engaging character portrayals, with intoxicating and hyperbolic prose. He plays objective narrator throughout, sometimes interfering with the plot, but holds no punches in describing Clark's maniacal quest for wealth.
In the end, there is a wonderful demonstration that wealth doesn't bring happiness with it. From p. 258: "Why do people perpetually create for themselves the condition for their own dissatisfaction?" -- an retort to Clark's statement that "Once I have more money than Larry Ellison, I'll be satisfied". A few years earlier, satisfaction for Clark amounted to a measly $10 million on the bank; that number mushroomed to $1 billion.
Throughout, Lewis conveys the feeling of the Internet bubble of the late 90s; the wealthy, controlling venture capitalists; the insanely-priced IPOs for companies that had no clue how to make money. So yes, that's all a bunch of old old things by now, and if I were looking for a historical account of that period, the book would be worth only 4 stars; yet, I was going for the portrait of Clark, and for those who lived through it, the book is a good behind the scenes look at the creation of Silicon Graphics, Netscape, and Healtheon.