John William “Bill” Gurley is one of the most influential venture capitalists in Silicon Valley, known for his sharp investment instincts and outspoken views on the tech industry. As a general partner at Benchmark, a prestigious venture capital firm, Gurley has played a crucial role in funding some of the biggest tech startups, including Uber, Zillow, and GrubHub. Over the years, he has been recognized as a leading dealmaker and a key figure in the evolution of the modern startup ecosystem.
Early Life and Education
Bill Gurley was born on May 10, 1966, in Dickinson, Texas, near Houston. His early years were marked by a strong interest in technology and business. He attended the University of Florida, where he earned a Bachelor of Science degree in 1989. During his time at university, he was also a member of the men’s basketball team, standing out due to his 6 ft 9 in (2.06 m) height.
Continuing his education, Gurley pursued a Master of Business Administration (MBA) at the University of Texas McCombs School of Business, graduating in 1993. His education laid the foundation for his future career in technology and venture capital.
Early Career in Technology and Finance
Before making his mark in venture capital, Gurley built a strong technical background:
- Compaq Computer: Worked as a design engineer, contributing to products like the 486/50 processor and Compaq’s first multi-processor server.
- Advanced Micro Devices (AMD): Worked in technical marketing for embedded processors.
Transitioning to finance, Gurley spent four years on Wall Street as a technology research analyst, including three years at CS First Boston. During this time, he covered companies such as Dell, Compaq, and Microsoft, earning a reputation as one of Wall Street’s top tech analysts. Notably, he was the lead analyst for Amazon’s IPO, an experience that deepened his expertise in evaluating disruptive technology businesses.
Following his time on Wall Street, Gurley became a partner at Hummer Winblad Venture Partners, a pioneering venture capital firm focused on software investments.
Benchmark: A Powerhouse in Venture Capital
In 1999, Gurley joined Benchmark, a prominent venture capital firm based in San Francisco, California. At Benchmark, he has led investments in and served on the boards of several high-profile startups, including:
- Zillow – Real estate marketplace
- GrubHub – Online food delivery service
- Nextdoor – Social network for neighborhoods
- OpenTable – Online restaurant reservation platform
- HackerOne – Cybersecurity platform
- Stitch Fix – Personalized fashion subscription service
- Uber – Ride-sharing giant
Gurley has also been involved in successful acquisitions, with companies like:
- Avamar Technologies (acquired by EMC)
- Business.com (acquired by R.H. Donnelley)
- JAMDAT Mobile (acquired by Electronic Arts)
- Shopping.com (acquired by eBay)
- Vudu (acquired by Walmart)
His ability to identify high-potential startups has earned him a consistent place on the Forbes Midas List, which ranks the world’s top venture capitalists.
Warnings About Silicon Valley’s Excesses
Gurley has been a vocal critic of unsustainable spending and speculation in Silicon Valley.
During the 2008 financial crisis, he gained attention for advising his portfolio companies to be cautious with spending while seizing opportunities created by the downturn. His blog, Above the Crowd, has been widely followed for its insights on venture capital trends, startup valuations, and industry warnings.
In a 2015 interview, he criticized the growing “bubble” in tech investments, arguing that Silicon Valley had become overly speculative. He also warned family offices and new investors to be wary of putting money into overvalued unicorn companies—startups valued at over $1 billion but lacking profitability.
Uber and the Resignation of Travis Kalanick
One of Gurley’s most notable investments was Uber, where he was an early investor and board member. He played a key role in the company’s growth but later became involved in its leadership crisis.
During Uber’s corporate scandals in 2017, which included allegations of misconduct and sexual harassment, Gurley pushed for accountability. He was instrumental in pressuring CEO Travis Kalanick to step down, marking a significant leadership change for the company.
Despite the tension, Gurley maintained a publicly supportive stance on Kalanick, tweeting:
“There will be many pages in the history books devoted to @travisk – very few entrepreneurs have had such a lasting impact on the world.”
In April 2020, The Wall Street Journal reported that Gurley would be stepping back from Benchmark, deciding not to participate in the firm’s new investment fund.
Public Recognition and Media Influence
Bill Gurley’s impact on the venture capital world has been widely recognized:
- VC of the Year (2016) – Awarded at TechCrunch’s annual Crunchies Awards.
- Forbes Midas List – Regularly ranked among the top venture capitalists in the world.
- Super Pumped (2022) – A fictionalized version of Gurley was portrayed by Kyle Chandler in Showtime’s drama about Uber’s rise and controversies.
Personal Life and Interests
Beyond his business achievements, Gurley is known for his towering height (6 ft 9 in), which inspired the name of his blog, Above the Crowd. His height was also referenced in the book eBoys: The True Story of the Six Tall Men Who Backed eBay, Webvan, and Other Billion-Dollar Startups.
Despite his success, Gurley remains committed to analyzing the tech landscape, advising entrepreneurs, and challenging the status quo in Silicon Valley.
Conclusion
Bill Gurley has cemented his place as one of Silicon Valley’s most respected venture capitalists. From backing revolutionary startups to sounding the alarm on unsustainable tech valuations, he has played a key role in shaping the modern startup ecosystem. His investment acumen, bold insights, and willingness to challenge industry norms ensure that his influence will be felt for years to come.
Frequently Asked Questions
1. What is Bill Gurley known for?
Bill Gurley is a venture capitalist and former Benchmark partner, known for investing in Uber, Zillow, GrubHub, and other top startups. He is also an outspoken critic of overvalued tech unicorns.
2. What role did Bill Gurley play at Uber?
Gurley was an early investor and board member at Uber. He played a crucial role in Travis Kalanick’s resignation during the company’s 2017 leadership crisis.
3. Why did Bill Gurley leave Benchmark?
In April 2020, Gurley announced he would not participate in Benchmark’s new fund, signaling his step back from active investing.
4. What are some of Bill Gurley’s most successful investments?
Some of his biggest wins include investments in Uber, Zillow, OpenTable, GrubHub, and Stitch Fix, along with multiple high-profile acquisitions.
5. What is the meaning behind “Above the Crowd”?
“Above the Crowd” is the title of Gurley’s blog, referencing both his towering height (6 ft 9 in) and his big-picture perspective on venture capital and startups.
