Valley of the Boom (2018) s01e01 Episode Script

Part 1: print (hello, world)

1 [typing] GUMBEL: I guess I was doing that little tease.
That little mark with the "a" and then the ring around it.
GUMBEL: See, that's what I said.
Katie said she thought it was about.
- COURIC: Yeah.
- Oh.
- GUMBEL: But I've never heard it said.
- COURIC: Or around.
GUMBEL: I've seen the mark but never heard it said.
And then it sounded stupid when I said it @NBC.
What is Internet anyway? COURIC: Massive computer network.
GUMBEL: What do you, write to it like mail? COURIC: Allison, can you explain what Internet is? PATERNOT: The Internet back in '94 was cans with a string.
Nobody knew what the web was, and there very, very incarnations of something called browsers.
ANDREESSEN: They still really have zero concept of what Netscape is.
BARKSDALE: They don't even know what the Internet is.
ANDREESSEN: They don't even know the Internet is the Internet.
BARKSDALE: Most people had not really used the Internet, the vast majority of people hadn't used the Internet before the Netscape Navigator was introduced because you couldn't.
It was too damn hard.
MURRAY: "It's a web browser.
" And I'm like, "What's, what's a web browser, dude? Like, what is that?" "This is the way that you can visually see everything that we already do on the net.
" HUFFINGTON: When the Netscape browser was invented, it changed the whole experience of being online.
CLARK: Let's open this sucker up, and see what she can do! HUFFINGTON: Netscape made it possible to really explore incredible parts of the online universe that we didn't even know existed before.
PATERNOT: We want to bring people together.
We want to build a digital community through shared interests from people all over the globe.
An international social network of users who can connect solely through their computers.
KRIZELMAN: We want to change the world, man.
PATERNOT: We wanna change the [bleep] world.
HUFFINGTON: I'm sure TheGlobe founders would like a dollar for every time somebody asks them, so you were like Facebook before there was Facebook? KRIZELMAN: In the beginning, we were talking about names like TheGlobe and TheWorld and things that implied a global community.
PATERNOT: I remember having a flash in what cyber could be.
This is a new world.
This is day one of an entirely new world.
That you could create a location that people could go to and have an experience in a virtual space.
FENNE: Could you conceivably do this live? Like a live TV broadcast.
DUNNING: Well, yeah, that's the idea, eventually.
FENNE: This is it! This is what I've been seeing in my vision.
I'm Michael Fenne.
CUBAN: What Pixelon was claiming they were gonna be able to do, is deliver TV to your PC.
GOODIN: The entire engine that was driving the Pixelon train was Michael Fenne.
A golden tongue salesman, who had a vision.
HUFFINGTON: Michael Fenne was an unlikely mastermind selling something that we now take completely for granted.
- Yeah! - [cheering] GOODIN: I got a chance to meet Michael Fenne.
And almost immediately there just, something didn't seem right here.
PATERNOT: The Internet felt more like the Wild West where you were going beyond the frontier that people knew.
MURRAY: It was amazing, and you just watched this crazy circus take place.
[dial up internet] BERLIN: Yeah, so Silicon Valley was originally known as the Valley of the Heart's Delight.
And it was this incredibly beautiful place.
With orchards just as far as the eye could see.
People would talk about it in this sort of Edenic way.
It felt to people like paradise.
RULON-MILLER: Silicon Valley was about San Jose and peach orchards being turned into buildings for semiconductors and disk drives.
And some emerging thing called software.
BERLIN: From the '40s to the '80s, the orchards were being replaced by one tech after another.
Apple, Atari, Genentech, Intel.
But nothing ever compared to what happened in the '90s, when the Internet hit.
- ROSENSWEIG: The Internet.
- GOODIN: The Internet.
- CESPEDES: The Internet.
- LENZ: The Internet.
- BARKSDALE: The Internet.
- KRIZELMAN: The Internet.
- HERNANDEZ: On the Internet.
- CLARK: The Internet.
BARKSDALE: The Netscape browser certainly played a big part in opening up the Internet.
Molly, you feeling better, darling? The ability to sell product on the network, to be entertained by the network, communicate with other people.
All of those things were sort of unheard of before 1994.
MURRAY: The browser was definitely a neat and super-unique thing.
It-it was basically the best way to use the Net.
HUFFINGTON: It made it possible to really explore.
Um, incredible parts of the online universe that we didn't even know existed before.
SEAN: It should be so simple, but it's just not doing what I want.
When I hit return, the thing just crashes, every single time, no matter what I do.
ANDREESSEN: Okay, okay.
Just take a breath, Sean.
SEAN: A breath? I haven't taken a breath for like, eighteen months.
I'm used to being the smartest guy in the room, now I feel like I shouldn't even be in the room.
Have you ever tried backing in to one of these problems? REPORTER [over TV]: Marc Andreessen, the 23-year-old, who helped create the Netscape software, benefited from a leap of faith by investors.
RULON-MILLER: And what was Mark Andreessen? He was our Messiah of technology and the inventor of the browser.
ANDREESSEN: You just reverse the paradigm.
Because you know the solution, correct? SEAN: Yeah, I do, the desired outcome.
ANDREESSEN: Okay, then just work from there.
Right? MURRAY: Marc was basically visionary.
He saw way beyond the things that were being done at the moment.
SIINO: He was just so bright.
You could tell that just by talking to the guy.
SEAN: Wait.
Really? ANDREESSEN: You'll need to wrap it in an extra div, and then fire it up again.
It'll work.
- SEAN: How did you do that? - ANDREESSEN: I didn't do anything.
I just gave you a prompt.
You did.
Remember: there are no stupid questions, only stupid people.
BARKSDALE: He's rather blunt.
SIINO: I think the word would be arrogant.
BARKSDALE: And I don't think Marc ever suffered fools lightly.
CLARK: Let's go stud.
Can't run this meeting without you.
Almost forgot.
Time flies.
CLARK: All of us were quite aware that the number of downloads of the browser was just skyrocketing, and we were starting to get actual revenue.
I thought this was an explosive thing.
I thought we were gonna continue to grow explosively, so I suggested, "Why don't we try to go public?" ANDREESSEN: Barksdale and I were less certain and in fact, I was fairly adamant that - Marc Andreessen.
- ANDREESSEN: What? You're not Marc Andreesen.
KARNA: Um Yeah.
I mean, yeah.
Hey everyone, I'm not really Marc Andreessen.
Um, you know, my name's John Karna.
I'm the actor who you've been watching playing Marc Andreessen, but, um, yeah, I'm not him.
[laughs] The real Marc Andreessen would probably rather munch on a tasty snack of goat balls and broken glass than reminisce about the good old days at Netscape; which is to say, Marc is a very forward-looking individual, he's not a "those were the best years of our lives" kinda guy.
But I'm an actor; so I will say pretty much anything.
Oh, and from here on out, you know what, I'm just gonna try to stick to things Marc Andreessen actually said or things he would be likely enough to say that he won't sue us.
BARKSDALE: Don't get me wrong, I'm nothing but smiles over here, I'm just not 100% sold on going public.
My old advice had always been, a company had to show profitable results for three years in a row before you could consider an IPO.
The main thing is, I'm hearing a lot of feelings, not a lot of facts.
CLARK: Let's let go of the reigns here, let this sucker run.
Sales have doubled in a quarter.
Is that fact enough for you, Jim? BARKSDALE: The company was barely a year old.
Unheard of.
ANDREESSEN: It's just words, but as of yet, we haven't hit several benchmarks for version 2.
And I'm guessing that matters, yes? CLARK: Great.
So we launch the IPO, get a ton of capital to fund this thing and then 2.
0 makes 1.
0 look like a stone and chisel.
It gives us room, guys.
ANDREESSEN: And if Microsoft starts bundling their browser with their PCs? BARKSDALE: That would take a huge bite out of our market share before we're actually profitable.
A potentially fatal bite.
ANDREESEN: Okay, let me break it down for you in the simplest of terms.
This is Jim Clark.
He dumped three million dollars to start Netscape, so he wants to take the company public, have an initial public offering in order to make that money back as fast as possible so he can buy himself a giant robot yacht.
This is Jim Barksdale, our CEO.
Jim is a very experienced businessman from the non-tech world, who knows how IPOs work and what types of benchmarks you need to hit before you go public.
Jim understands systems, possibly better than anyone else out there.
And he wanted to make sure the company was set up for long term growth.
And he also said at one point, "I made a promise to take care of these people.
" And then there's me.
Marc Andreessen.
I just wanna get back to working on the product because at the end of the day that's really all that matters, right? Is that clear enough for you? CLARK: You're worried about facts? About market share? How's this? As we speak, 15 million people are using the Internet.
You know what that is? It's roughly half the population of California.
There are 5 billion people on this planet.
We've only scratched the surface of buyers out there.
Even with Microsoft entering the arena we're still looking at a majority percentage of a growing market.
The IPO gives us room to expand and evolve.
To stay ahead, not just keep up.
So, damn, boys! Let's open this sucker up and see what she can do! Okay.
All in favor, say, "Aye.
" Here we go, here we, here we go, uh Here we go KRIZELMAN: We were two guys in our twenties, and we would happily spend three hours chatting online to people around the world.
On a Friday night.
PATERNOT: Take a couple loners like us who didn't have girlfriends and you suddenly realize that you could be connected to anyone in the world, family, friends, potential girlfriends.
So the way we consider it is this is day one of an entirely new world.
Here we are.
KRIZELMAN: Welcome to our humble abode.
Don't let looks fool you.
We are cutting edge on many technologies.
Everyone, I wanna introduce you to Phil.
PHILLIP: Phillip.
Phillip, this is everyone.
Take a look around.
PHILLIP: So you're running Lotus on an IBM server.
PATERNOT: Yes, we are, good eye.
So, we can't pay you much.
KRIZELMAN: Minimum wage, basically.
PATERNOT: That, and the supply of pizza while you work.
PHILLIP: Pudgie's? - PATERNOT: Yeah, we could do Pudgie's.
- KRIZELMAN: Yeah, sure.
PATERNOT: So you have experience with HTML? - PHILLIP: Yeah.
- PATERNOT: Great.
KRIZELMAN: Can you tell us about some of your work? - PHILLIP: I could show you.
- PATERNOT: Oh, please.
PHILLIP: This one had a hand in, mostly back end stuff.
And this one was all me, front and back.
PATERNOT: Is that a chat function? PHILLIP: Yes, it is.
KRIZELMAN: Chat was not something we had invented at all; it had been around for twenty years, but we made it way more graphical, where people were chatting just with text.
We were adding what would now be called emojis.
We did not call 'em emojis back them.
We would have been calling them icons or little graphics.
And those things were so fun.
PHILLIP: And I looked at TheGlobe chat function and I already know how to make it better.
BOTH: How? PHILLIP: Bros, seriously? Pudgie's.
[laughter] So what are you guys trying to do with this? KRIZELMAN: Well you mentioned the chat function, there are games you can play, - a classified section.
Bro, what are you trying to do? PATERNOT: We want to bring people together.
We want to build a digital community through shared interests from people all over the globe.
An international social network of users who can connect solely through their computers.
KRIZELMAN: We want to change the world, man.
PATERNOT: We wanna change the [bleep] world.
KRIZELMAN: At the time, using computers was considered anti-social.
And so this idea that we could be so social online really flew in the face of everything that you'd sort of been raised to understand.
PATERNOT: Let's make it all about this site where people come, where they have a visible presence, where they can spend their time, express who they are to each other, and just exist.
Be somebody.
Right? Create your own virtual family for life that can belong there and follow you and connect with you, um, and you never feel alone again.
- PHILLIP: Cool.
- PATERNOT: All right, so you in? PHILLIP: I like the Molto-Multi-Meat-Madness.
KRIZELMAN: I'm sorry, is that PHILLIP: That's from Pudgie's.
It's only two bucks extra but totally worth it.
- KRIZELMAN: Yeah! Cool.
- Can do.
PATERNOT: All right, so, uh Monday, then? - KRIZELMAN: Monday.
- PHILLIP: Cool.
I'm in.
KRIZELMAN: How we gonna pay for him? I mean, we can afford him for what, three, maybe four weeks? PATERNOT: Right, so we need more money.
I can make some calls.
KRIZELMAN: We gotta think bigger, man.
If the site keeps growing at this current rate, we won't be able to keep it afloat with a few grand here and there.
We were always hearing about tens of thousands of new users signing up every single day.
So, we knew the revolution was on and whoever was gonna have the most money and executed the fastest was going to win.
You're the one from Palo Alto.
KRIZELMAN: You thinkin' venture capitalists? PATERNOT: I read Netscape raised $5 million from a 30-minute meeting with Kleiner Perkins.
We only need a fraction of that.
My dad might know some people.
PATERNOT: Your dad knows people at VC firms and it's just now coming up? - Jesus, Todd.
- KRIZELMAN: What? FENNE: Hi! I'm Michael Fenne.
I'm Mike Fenne, super happy to meet you.
[bleep] [roars] GOODIN: So Michael was coming from one of the more impoverished parts of the United States.
It's in rural Virginia.
It's coal country.
He was the son and the grandson of preachers in Appalachia.
He traveled across the country.
And according to him, he encountered a lot of hardships along the way.
I'm Michael Fenne.
GOODIN: He said that at one point, um, during his journey he had an abscess tooth that he pulled out himself, after anesthetizing himself with a bottle of Jack Daniels.
Uh, he claims that he was, uh, you know, robbed at gunpoint and stabbed in the chest.
- TWEAKER: Hey, sir.
Sir? - FENNE: Yes? TWEAKER: Would it be possible to get some money so I can take care of my family? FENNE: I don't have anything.
- TWEAKER: Please, I think - FENNE: Hey, I said no.
You need to take responsibility for yourself and respect the Lord's plan for you.
All right? God bless.
- TWEAKER: Hey, sir.
- FENNE: What? Ow! Ow! [grunting] [scream] MCCARTNEY: The stories were just so [bleep] outlandish that from, uh, you know, experience, talking to him, hard to say what was real and what wasn't real.
I got locked up on a rope conviction Working in a coffee shop I got myself knocked up You keep on knockin' but you can't come up Can I get some? Bang the drum Windshield wipers whether you like it or not I gotta get away but I don't wanna lose the spot Don't be dumb, you're so dumb I wish I had love You know I wanna get some I'll go to Philadelphia That's where I fell for ya Blah, blah, blah, blah, blah, blah, blah, blah - Can I get some? - [whimpers] Bang the drum RULON-MILLER: Netscape changed in a huge way that was positive when Jim Barksdale came in.
I mean, he was the most significant and most successful and impressive executive in the land.
Mike Homer the Head of Marketing who is now deceased sadly, and I had our classic marketing-sales bang-bang, disagreements that sort of spread throughout the company a little bit.
And Jim called me in one day and said, "Todd.
" BARKSDALE: Oh, Todd.
Conference room.
Michael, conference room.
RULON-MILLER: He said, "I hear you are not getting along with Mike Homer.
I hear from a lot of people you're having some fights and I don't think that's good business.
" BARKSDALE: Take a seat guys.
Here's the thing.
Number one: when you come across a snake, you kill it.
You don't call your buddies, you don't form a team, you don't put a meeting together, you just kill the snake, right? RULON-MILLER: Jim spoke in aphorisms and uh, and storylines.
And you had to listen thoughtfully to say what's the message here.
BARKSDALE: Number two, you don't go back and play with a dead snake.
- SIINO: A snake.
- HERNANDEZ: Don't play with dead snakes.
LENZ: Kill the snake, don't call your friends, kill the snake.
RULON-MILLER: And what it meant was if you see an opportunity or a problem, solve it and finish it, and don't go back and pick it up.
I guess you've heard there's a big problem here and it really hasn't been gettin' any better.
Mike's been really undercutting my methodologies in the sales force.
- Yeah, that's a buncha bull.
- BARKSDALE: Here's what's gonna happen.
We're gonna get together tomorrow, same time, and if you two still aren't getting along, I'm gonna flip a coin.
Now, heads, I fire Todd, tails I fire Mike.
Sound good? RULON-MILLER: Yeah.
BARKSDALE: Cool, all right.
Good talk.
RULON-MILLER: And my body went white and I said, "Oh my God, I better solve this problem.
" So a week later Mike Homer and I are getting along really well.
BARKSDALE: Number three, all opportunities start out looking like snakes.
- There he is! - Over here.
Good to see ya, how ya been? Good to see ya, how are ya? DAD: So I heard back from my buddy today at Kleiner Perkins he's willing to sit down with you.
- Excellent! Thank you, Dad.
- PATERNOT: Wow, okay.
- That's amazing, Mr.
- DAD: We're talking about a very smart guy at a very prestigious company.
He hears lots of ideas.
So how about you run this by me and we go from there? KRIZELMAN: It's gonna be huge.
That's your pitch? It's gonna be huge? PATERNOT: We We have other we have other stuff that we put together.
KRIZELMAN: Yeah, we have a whole like package and, uh DAD: Go ahead.
KRIZELMAN: Okay, yeah, so Steph and I have developed these functionalities that are unique to the site, like the gaming platform and registration program.
But what we're really trying to get these guys to invest in is our growing user base.
PATERNOT: Our community is growing exponentially every month.
If someone were able to tap into that market, it would be huge.
- DAD: Why? - PATERNOT: Revenue.
Possible subscription fee.
Your advertisements.
- DAD: Ads? - PATERNOT: Oh, yeah.
- DAD: On the Internet? - KRIZELMAN: Dad.
DAD: Do enough people even go there? - It seems like a bunch of geeky kids.
- [laughter] KRIZELMAN: Dad, Netscape Navigator has approximately 10 million users.
That number is growing daily.
Supposedly, 2.
0, their next version, will have enhanced graphic capabilities.
I mean, that means essentially you could sell billboards on your website.
I mean, that would change the game.
DAD: Hm.
[sighs] Okay.
I mean, still sounds a little generic.
But it does have definite promise.
Now you just have to focus your pitch so it's utterly specific to your product.
PATERNOT: We can do that.
- We can do that.
- KRIZELMAN: Yeah, we can do that.
And? PATERNOT: And we think it really comes down to TheGlobe.
com creating a massive worldwide community.
Imagine the possibilities once we're able to monetize that community and tap into its diverse markets.
KRIZELMAN: It could truly connect the world.
So it's just the website, correct? There's no software? BOTH: Correct, yeah, everything is web based.
But how are you making money? PATERNOT: At the moment we're focused on continuing to build our current user base.
And it's free to register? KRIZELMAN: Yes, but imagine if you could start putting ads in I thought your chat function was quite impressive.
PATERNOT: Thank you, it's essential to connecting our users and.
Have you thought about licensing it out? PATERNOT: We haven't.
We like that it's a unique draw for the site.
What about licensing the registration function? KRIZELMAN: We're trying to think a little more "big picture.
" And you've built these chat and registration - functionalities from scratch? - PATERNOT: Yes, we have.
And we have a great team working on new developments as well.
Well the site is impressive.
And the numbers are promising.
I'll look over your business model be in touch.
Thank you both.
KRIZELMAN: You had so much convincing to do to get to what you were actually trying to convey, it was very hard.
PATERNOT: There was this thing called the Internet.
The Internet.
KRIZELMAN: Isn't AOL already doing the Internet? PATERNOT: It's also called the World Wide Web.
KRIZELMAN: It doesn't ring a bell.
PATERNOT: Okay, well there's this alternative world that's starting up and anyone in the world can access it.
Has anyone talked to you about licensing out your registration software? Let's talk more about these tools that you're developing.
The company is based out of where? This is very interesting, we'll definitely get back to you.
This is a lot to think about, we'll definitely look it over.
BARKSDALE: Once a company decides to go public they go on what is called a "road show.
" Essentially you and your team travel around to different investment firms, informing their analysts about your company and sharing details about your business model, and the hope that they'll buy a large amount of stock.
[inaudible singing] BARKSDALE: See, that feels over the top to me.
It's a dot-com road show, it's not a Lady Gaga video.
Anyway, yeah.
Dozens of meetings within a matter of weeks.
It's grueling, but it's a necessary part of the process and it helps you not only share aspects of your business, but it allows you to gauge the investment industry's genuine interest in your company.
CLARK: We had to do a little song and dance.
It was really just selling the future, selling the prospect that this was a new era that we are blowing open.
BARKSDALE: Honestly, I find the whole process just really fun.
ANDREESSEN: Those meetings were my own personal hell.
Who exactly are we talking to? CLARK: Oh, four to six analysts.
No big deal.
We'll give 'em our pitch promoting our IPO, then take some questions.
BARKSDALE: Just relax, be yourself, rest in the knowledge that you have the best product to hit the market in 20 years.
Main thing is, if what you have is real, you don't need BS.
ANDREESSEN: Barksdale always talks about "The Main Thing.
" He even once said BARKSDALE: The main thing is the Main Thing is always the main thing.
Here, let me have a look.
CLARK: How come you coder guys always look like your mothers still dress you? ANDREESSEN: See? Hell.
BARKSDALE: Okay, uh My goodness.
Thank you for having us, and thank you for inviting the entire world.
[laughter] ANDREESSEN: "Four to six?" "No big deal?" Was that four or six? Half the company was in that room! CLARK: Gentlemen, shy of a handie from the CEO himself, that could not have gone better.
BARKSDALE: Not to piss on your marshmallow roast, Jim.
CLARK: Jesus, Barksdale.
What? BARKSDALE: I'm just pointing out that the fact that those analysts did us a hell of a favor with some of those questions they we're asking.
They really have zero concept of what Netscape is.
BARKSDALE: They don't even know what the Internet is.
ANDREESSEN: They don't even know the Internet is the Internet.
BARKSDALE: They don't.
ANDREESSEN: What? What? It's true.
When the swallows come back to Capistrano That's the day you promised to come back to me GOODIN: There was something really disarming and charismatic about Michael Fenne.
He seemed so gentle, and he had these, you know, beautiful blue eyes and this cherubic face and soft-spoken voice with a kind of Appalachian drawl or cadence.
FENNE: Hi, I'm Michael Fenne.
What a pleasure.
GOODIN: Michael knew the Bible well and he was constantly using Christianity and the bible in a way to try to get people's trust, and, you know, almost always, um, in a way to cast himself as the hero in so many of these, uh, kind of biblical, you know, proverbs.
And there was something about the way he came across that was very likeable.
The chapel choir will sing PASTOR: Welcome.
Please, find a seat and we'll begin.
Ya'll might want to schooch in down front, I won't bite you.
Please bow your heads.
BETHANY: It's like, restock your inventory, do you know what I mean? Excuse me.
I'm just gonna be a minute here.
Hey there.
Are you new to town? FENNE: I sure am.
I just got here yesterday.
So, I'm brand new! BETHANY: Ah, well, we are so happy to have you here at the South Coast Christian Assembly.
- I'm Bethany.
- FENNE: Hello, Bethany.
I'm Mike Fenne.
What a pleasure! BETHANY: It's so nice to see a fresh face around here.
It gets a little old talkin' to the same folks every Sunday to tell you the truth.
FENNE: Is that right, Bethany? BETHANY: Yes it is, Mr.
Mike Fenne.
Do you wanna get a coffee? - FENNE: Yeah, that'd be nice.
- BETHANY: Okay.
FENNE: The service was absolutely wonderful.
BETHANY: Well, you caught us on a good week.
Um, how're you liking San Juan Capistrano? You getting settled all right? I know everybody in this godforsaken town, so if you need anything, just say the word.
FENNE: That is so sweet.
I am actually looking for some really basic office space.
BETHANY: Well, I know just the person.
You have got to talk to Dave.
Um, let me just see if he's busy.
- One sec, okay? - FENNE: Okay.
GOODIN: I have a letter that is part of his permanent court record to his third wife shortly after he fled Wise, Virginia.
He says things like, you know, God has blessed me with a unique ability to defy reality.
FENNE: And now an interpretive dance choreographed by Paul Becker based on a real letter that I wrote to my ex-wife.
[clears throat] I want you to know in advance of reading this that I am taking this one and only opportunity to vent my feelings to you.
Yes, there is great anger in me.
But please bear with me and read the entire letter.
God has given me a new life to start over with.
GOODIN: God has given me a new life to start over with.
FENNE: And the sum total of my heart is joyous for the most precious gift.
If you have not filed for an annulment yet, please do so.
GOODIN: I will be singing and playing and taking a true love with me to all the places you will only be able to think about in your head.
I will live then and recover totally from the fatal wound that you gave and rise like the Phoenix.
FENNE: My life without you has been a living hell.
A hell you sent me into.
I never ever want to hurt like that ever again.
Forgiving you, and moving on is part of the necessary healing journey.
To put you fully out of my mind forever I have to forgive you completely first.
BARKSDALE: I've been up since 4:00am.
CLARK: I got you beat by an hour and a half.
BARKSDALE: Everything good to go? CLARK: Mm.
Don't know.
I got a call from Mary last night, couldn't get her on the phone.
Something about the stock price.
ROSENSWEIG: If you could get the endorsement of Mary Meeker, it was like printing money.
She was a successful analyst before the Internet.
BARKSDALE: She thinks $28 is too high? CLARK: I don't know.
BARKSDALE: Too low? CLARK: I Don't Know.
Go get a bagel and coffee.
Just relax.
BARKSDALE: I've got the runs.
One word: Netscape.
STEVE: "Here today and gone later today.
" David Lee Roth said that.
DARRIN: Really? I mean, it looks pretty good to me.
STEVE: The last scene of Dr.
Strangelove? "Waaa-hooo.
" Booooooom? This is who's playing with your nest egg over at NASDAQ, folks.
Twenty-five year-olds right out of college; who think that investing in a company that hasn't even turned a profit is a good idea.
DARRIN: Netscape owns 75% of a fledgling market share, ladies and gentlemen.
That tells me they own the new frontier.
You think the Internet is going away, then you're my grandfather.
STEVE: Anyone who gives their product away for free isn't running a sound business model.
You want my client's hard-earned shekels? Turn a profit for three quarters at least, then, you have my blessing.
- Go public.
- DARRIN: We invest, they expand, the stock price soars and you get to retire to Vero Beach early.
You're welcome.
STEVE: Have you been to Vero Beach? CLARK: At that particular time Mary Meeker was the primary technology analyst for Morgan Stanley, so her job was to be able to articulate to the investor customer what we were about.
7:00 a.
NASDAQ is pumping.
Why don't we have a price? [phone rings] - WOMAN [over phone]: Morgan Stanley.
- Mary Meeker's desk, please.
MARY: Yeah? BARKSDALE: Mary, Jim Barksdale, Netscape.
Uh, we're just a little concerned.
It's 10:00 a.
over there.
And we haven't started trading yet.
MARY: Yeah, well, they can't open the stock because they can't price the stock.
CLARK: What? Why? - MARY: Because retail interest is high? - BARKSDALE: How high? MARY: Well, dial Charles Schwab.
Do it now.
BARKSDALE: I got it, I got it, I got it, I got it.
Hang on.
[busy tone] MARY: There we go, fellas.
- [over phone]: Welcome to Charles Schwab.
- MARY: Fellas? VOICE [over phone]: If you're interested in the Netscape IPO, press 1.
For all other inquiries, press 2.
MARY: Wait.
Did they just put me on hold? CLARK: Mary, what does it mean? MARY: A, never put me on hold.
B, refresh your page.
CLARK: $71? BARKSDALE: $71 a share! Are you kidding me? CLARK: $71! - [cheers] - MARY: You're welcome.
- CLARK: Yeah, give me some of that.
- No, no, no, no.
All right.
Take it down.
Take it down, buddy.
Take it down, take it down.
Take it down.
CLARK: A little bit of my own ego, I suppose, but when I started Silicon Graphics, my first company, in those days, people all thought I was lucky.
So, I had a bit of an ego issue with that, I wanted to prove that I wasn't just lucky.
Whoooo! Netscape managed to prove that.
HUFFINGTON: The Netscape IPO changed everything.
You don't have to have 4 quarters of a profit.
You just have to have an amazing product, a great story, and a rock star founder and you're set.
Yeah! - [cheering] - BARKSDALE: Way to go.
Way to go.
Get back to work.
Anybody seen Marc? Anybody? STEVE: Goldman Sachs, this is Steve.
DARRIN: Netscape? Sure thing.
STEVE: Thank you.
What's your middle name? Thank you.
Netscape, yes, how many shares? DARRIN: 100 shares, you got it Mr STEVE: Yes, ma'am.
You're good to go.
Guess David Lee Roth should be putting cash down on that condo in Vero any time now.
STEVE: Wait, is it just us, or? DARRIN: Netscape? 50 shares? You got it Mr.
Smith Barney.
Netscape? Yup.
Can I get your name? Bro, did I not totally call it with this Netscape run? - Yes.
- DARRIN: Yo! Let me ask you something, is it hard being so unbearably handsome? Yeah, it's exhausting.
You? DARRIN: Mm.
You have no idea.
Gotta beat em off with a stick.
I bet.
MARY: Yeah, it's a nice jump.
I'm okay with it.
Happy people at Netscape today.
Thanks, Andy.
I'll circle back before we close.
Erin, get me Barry at Charles Schwab on the line, please.
REPORTER [over TV]: At the end of day one, Netscape had a market value of more than $2 billion.
Investors close to Morgan Stanley, which managed the public offering, got shares for $28.
Analysts say they probably sold most of them after the stock opened at more than $70 and crept higher.
Everybody else jumped in.
The entire 5 million share offering turned over nearly three times.
MARY: Sure, you want your first day to go well, but the truth is, it doesn't matter.
What matters is if you can keep that price up.
REPORTER [over TV]: Even at the closing price of $58, 25 cents, some analysts estimate Netscape's price earnings ratio next year could be an astonishing 970 to 1.
MARY: Netscape had that stability.
The flood of press they got from the massive IPO definitely didn't hurt, though.
Thanks, Danny.
I appreciate it.
Okay, you too.
What's up? SIINO: I have reporters from Wall Street Journal, New York Times, Forbes, Wired, the Chronicle, and about ten other news agencies all asking for interviews.
- How do you want to handle it? - BARKSDALE: Put together a list and we'll come up with a game plan with Jim and Marc.
- Okay.
- That reminds me Hey, everybody.
Quick word.
As you can imagine, there is a lot of interest from the press in our company right now.
Phones are just ringing off the hook.
I'm sure you're aware of the feeding frenzy outside the front door, here's the thing: please, do not say anything to the press unless we, your bosses, have approved it.
Okay? All right, back to work.
Whoo! SIINO: Actually, they just want to speak with Marc.
I guess, you know, he's 24 and [laughs] BARKSDALE: Right, yeah, that makes sense.
As much as I admire your discipline, if you were ever inclined toward an 8-ball and a hooker, today would be the day.
ANDREESSEN: Well, the night is young.
BARKSDALE: So, Marc, we need to talk about press.
Every blue chip member of the 4th Estate is barking down our door, and they all want to talk to you.
ANDREESSEN: Yeah, sure.
Anything to help the company.
CLARK: Okay.
In the meantime, are you planning on enjoying any of this? ANDREESSEN: You know, after today, we have to deliver 10,000%.
I mean, that's obviously ridiculous, you understand hyperbole, Jim? 2.
0 has got to dominate the browser market critically and financially.
And right now, our plug-in support is weak, our mail element isn't even happening, and about ten other things we promised are still in the idea phase.
So CLARK: Okay.
Got it.
But you're still coming to the party tonight, yes? BARKSDALE: Marc? Hey, man.
CLARK: Marc? - You coming to the party? - ANDREESSEN: Oh, there it is.
Um Yeah.
Yeah, definitely.
BARKSDALE: Well, all right.
PATERNOT: We broke 75,000 daily visitors this week, and apparently it doesn't mean [bleep]! Where does this leave us? KRIZELMAN: Another round of begging friends and family for money? PHILLIP: So? Damn.
You guys see this yet? It's crazy.
KRIZELMAN: Are those numbers right? PHILLIP: Bro, that's the Wall Street Journal.
Steph! Check this out.
PATERNOT: It closed at $58? And got up to 74? Where did they price it? - KRIZELMAN: $28.
- PATERNOT: $28? PHILLIP: You think Netscape could just, like, give us some money? Seems like they got enough of it.
PATERNOT: If anyone needed proof that the Internet is real, here you go.
KRIZELMAN: It's the biggest tech IPO since Microsoft.
PATERNOT: Call 'em all.
Aunts, uncles, half-cousins.
We just need to keep this thing alive for the next few months.
KRIZELMAN: Then what? PATERNOT: All those [bleep] fools who just turned us down are gonna be throwing money at us.
Trust me.
[party sounds] - Sounds good.
- CLARK: Hey, hey, hey! Everybody, everybody, everybody.
Who's got, who's got Everybody have a drink? - BARKSDALE: Here buddy.
- Everybody have a drink? - BARKSDALE: You need one.
- Okay.
CLARK: Um, a little over a year ago, we we we launched this sucker with a few million and a pipe dream.
And as of today the company is valued at just under $3 billion.
[cheers] CLARK: I'd say that's a That's a very good year.
BARKSDALE: And I would say it's safe to say that we are the top browser in the business.
So congratulations! [cheers] ANDREESSEN: It also makes us a target.
- So - Yep.
So keep on going.
It doesn't stop now.
In the startup world, you're either a genius or an idiot.
You're never just an ordinary guy trying to get through the day.
You know, the Internet has always been, and always will be, a magic box.
And we reached in and pulled out one magical coin.
So for a day, we got to be the geniuses.
For a day.
And in my opinion, even a day is way too long to rest on your laurels.
Yes, I'm trying to get a round trip ticket to San Jose.
Actually, make that one way.
First thing tomorrow.
Early as possible.
Yes, I'll hold.
Something in the way Ummmmm - Something in the way, yeah - FENNE: Hi, I'm Michael Fenne.
REPORTER [over TV]: When Netscape went public investors couldn't get enough of the stuff.
The company has a 70% share of sofware used to navigate the world wide web.
That's the most traveled part of the internet.
Something in the way, yeah Ummmmm Ummmmm