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March 21, 2006

Adventures at Idealab

The L.A. Times has a good overview of the continuing financial adventures of Bill Gross and his Idealab technology incubator in Pasadena. On the one hand it's hard not to laud the guy for his brilliance and creativity, on the other hand there seems little doubt the place still needs adult leadership.

"Bill is off-the-charts smart, super-energetic and opinionated," said Harry Chandler, a former top executive with Idealab's Overture, which Yahoo acquired for $1.8 billion in 2003. "But as an operating businessman, he has some challenges. He needs checks and balances for the type of personality he is."

Some CEOs of Idealab companies resented the fact that they were paid less than $100,000 a year plus stock options, while Gross' compensation had soared to nearly $800,000 by 2002.

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