Here’s an entertaining video taken of Roger McNamee, of Elevation Partners by Kara Swisher.
McNamee’s office is ensconced in the middle of Silicon Valley’s Sand Hill Road, center of venture capital and the region’s large private equity firms.
McNamee turns around about two minutes in, and points to a golf hole right outside his office built by George Roberts of Kohlberg Kravis Roberts. McNamee of Roberts: “…he can afford to bring up the entire grounds crew from the August National Country Club, and they literally brought sod and sand from August National and put it back here. As far as I can tell, no-one’s ever been on it.”
Several years ago, during visits to this complex, we were told that KKR still had butlers and white gloved waiters serving visitors to their office. Seems nothing has changed. Some say the golf hole is evidence of froth in private equity. However, we’re not certain this is any different from what could have happened say, three years ago.
Web site readers can see video below.