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#42
#42

Marc Andreessen

a16z Portfolio: Coinbase, GitHub, Airbnb

Profit

Multi-billion-dollar returns

Year

2009–present

Asset

Tech startup portfolio

Category

Venture

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The Thesis

Andreessen, who created the first web browser, founded a16z on the thesis that 'software is eating the world' and built a new model for venture capital that combined investing with operational support.

The Story

Marc Andreessen co-founded Andreessen Horowitz (a16z) in 2009 with the bold thesis that software was eating the world — that every industry would eventually be transformed by software companies. The firm's investments in companies like Coinbase, GitHub (sold to Microsoft for $7.5 billion), Airbnb, Lyft, Slack, and dozens of others generated extraordinary returns. a16z's early fund vintages are among the best-performing in venture capital history.

What made Andreessen's approach revolutionary was the operational model. Rather than just writing checks and sitting on boards, a16z built a team of operational experts who helped portfolio companies with recruiting, marketing, business development, and regulatory strategy. This "platform" model, now widely copied, allowed a16z to win competitive deals by offering more than just capital. Andreessen's personal credibility — as the inventor of the Mosaic web browser and co-founder of Netscape — gave him unparalleled deal flow and insight into technology trends before they became obvious.

Key Insight

Software is eating the world — and the investors who understand technology trends earliest can position themselves to profit from the transformation of every industry.

Software is eating the world.

Marc Andreessen

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