Steve Case Founder of AOL and Revolution Interview with Matt Bird at Greenwich Economic Forum – Traders Network Show – Equities News
Steve Case, Founder of AOL (Current CEO at Revolution) with Matt Bird at Greenwich Economic Forum (Greenwich, CT).
HIGHLIGHTS
- Revolutions average investment is $25-$50 million, making it one of the largest/most influential investing firms
- Revolutions companies are hiring for +1,000 jobs outside of Silicon Valley
- Steve is responsible for the largest merger in business history – AOL/Time Warner Cable
FULL COVERAGE
INTERVIEW TRANSCRIPTS: Steve Case, CEO of Revolution with Matt Bird
Matt Bird – Host, Traders Network Show: 00:00
Welcome back. You’re watching the Traders Network Show broadcasting worldwide from Greenwich, Connecticut. We’re here at the 2019 Greenwich Economic Forum and my next guest needs very little introduction both on the economic stage and the media stage. He is a former CEO of AOL and the current CEO of Revolution. Steve Case. Welcome to the show with you. So you just came off a panel a few minutes ago. Can you give us a little bit insight, be our eyes and ears? What’s going on up there? Give us a little feedback.
Steve Case – CEO, Revolution/Former CEO, AOL: 00:30
Obviously a lot of topics. The one I was particularly focused on was the revolution in venture capital, how venture capital, which sort of the jet fuel that drives the innovation economy has historically gone mostly to places like Silicon Valley and now it’s starting to broaden around the country. We launched initiative five years ago called Rise of the Rest that promotes entrepreneurship in Detroit and Indianapolis other places.
Steve Case – CEO, Revolution/Former CEO, AOL: 00:46
We’ve launched a fund that’s now has a hundred investments in 30 different States, and so even though most of the capital still goes to places like Silicon Valley last year, 75% went to three States, California, New York, Massachusetts. We’re starting to see States like Ohio, Michigan, Illinois, Virginia. Others are rising up and that ultimately will lead to great investment opportunities and also create more jobs in those places, which will help me think, unite the country.
Matt Bird – Host, Traders Network Show: 01:08
Yeah. What part is public player partnerships playing in all of that?
Steve Case – CEO, Revolution/Former CEO, AOL: 01:13
Economic development are critical. We basically what we do with the Revolution, the investment firm, it takes the lead in investing in the companies, but we also through the case foundation partner with a lot of different organization, Kauffman foundation, for example, very active around entrepreneurship. I also work on the government side. I worked with president Obama to pass something called the jobs act and make it easier for companies to raise capital. I worked with president Trump to great opportunity zones. They’re great tax advantages to invest in some of the rising city. So everybody has to do their part. But more collaboration clearly can drive more impact,
Matt Bird – Host, Traders Network Show: 01:30
You know, jobs acts, no pun intended has been truly revolutionary. How do you feel that that’s evolved?
Steve Case – CEO, Revolution/Former CEO, AOL: 01:48
It’s, it’s, it took a while to get going. It took a while for the sec to write the rules to figure out exactly what the rules should be around the capital formation. But I think now it’s starting to accelerate and some of the rules around private filings as a result of more companies looking at going public as the markets you know, kind of get to a point next couple of years, I think you’ll probably see more IPOs coming out. So overall we’re pleased.
Matt Bird – Host, Traders Network Show: 02:10
You know, I don’t want to take up much more of your time. I know you’ve been pulled a few directions. What can we expect last question, but what can we expect next out of a Revolution?
Steve Case – CEO, Revolution/Former CEO, AOL: 02:16
Well, Revolution has a seed fund Rise the Rest, Revolution Ventures and revolution growth and will continue to try to back the best entrepreneurs anywhere in the country, not just on the, on the coast and continue to work both with Akbar three back on the LPs, the institutions that we manage capital for the try to, you know, create some of the breakout successes of tomorrow.
Matt Bird – Host, Traders Network Show: 02:24
That’s amazing. Amazing. Say Steve, thanks so much for coming in. And so everybody, Steve Case, CEO of Revolution, we’ll be right back. A special thanks to our affiliate partners, ABC, NBC, Fox and CBS. Don’t go away. We’ll be right back.
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