Joe Lonsdale

Last updated
Joe Lonsdale
Born
Fremont, California, U.S.
NationalityAmerican
Alma mater Stanford University (B.S.)
Occupation

Joseph Todd Lonsdale V is an American entrepreneur, technology investor, and philanthropist. [1] He is a founder of 8VC, a technology investment firm, and a co-founder of Palantir Technologies, Addepar, and OpenGov, and was an early investor in a number of companies, including the e-commerce platform Wish. [2]

Contents

After graduating from Stanford University, Lonsdale worked as an executive at Clarium Capital, a global macro hedge fund run by Peter Thiel, and in 2004 co-founded Palantir, a data analytics company for organizations in industries like intelligence and finance. Lonsdale left Palantir in 2009 to co-found Addepar, a wealth management technology company. He has co-founded several other technology companies, including OpenGov (a technology platform for data intelligence and budgeting of governments) and Epirus (a defense technology company [3] ). Also following his exit from Palantir, Lonsdale became an angel investor before starting Formation 8 in 2011 and 8VC in 2015. [4]

In 2020, Lonsdale relocated his family and 8VC from California to Austin, Texas. [5]

Early life and education

Lonsdale grew up in Fremont, California, and attended Mission San Jose High School. He was a two-time scholastic state chess champion. [6]

Lonsdale graduated from Stanford University in 2003 with a degree in computer science. He also served as Editor-in-Chief of The Stanford Review , the university’s conservative/libertarian newspaper. [7] Lonsdale is a member of the Phi Kappa Psi fraternity. [8]

Career

Early career

Lonsdale joined the financial arm of PayPal as an intern while a student at Stanford. [9] As a result, he is considered one of the "PayPal Mafia," a group of former PayPal executives like Peter Thiel and Keith Rabois who went on to found major technology companies. [10] After graduation he left to work in a variety of roles with PayPal co-founder Peter Thiel. Lonsdale also served as an early executive from 2002-2009 at Clarium Capital, a macro hedge fund founded by Thiel. [11] At Clarium's peak the fund grew to $8 billion in assets under management, but eventually shut down after a series of unprofitable investments and client redemptions resulted in its assets declining to between $300-400 million as of 2011. [12]

Palantir Technologies

In 2004, Lonsdale co-founded Palantir Technologies with Thiel, Alex Karp, Stephen Cohen, and Nathan Gettings. Palantir’s software allows human analysts to explore data from many sources, specifically in the intelligence, defense and financial services sectors. [13] [14] It has a corporate culture modeled in part on Google's. [15] Lonsdale initially served as co-head of product at Palantir.

Addepar

Lonsdale co-founded Addepar, a wealth management and data analytics platform for registered investment advisors, in 2009 with Jason Mirra. [16] The company automates asset management workflows, including portfolio reporting, across disparate data sources. [17] As of December 2020, Addepar administered over $2 trillion in assets and counted over 500 registered investment advisors, family offices, and banks as clients. [18]

Lonsdale currently serves as Executive Chairman at Addepar. [19]

Other entrepreneurship

Following his initial work at Addepar, Lonsdale co-founded OpenGov, a company which offers cloud-based software for government budgeting, in 2012. [20] He also co-founded and serves on the boards of Esper, Anduin Transactions, Affinity, Epirus Systems, and Zanbato. [21] [22] [23] [24] [25]

Angel investor and venture capitalist

Lonsdale has invested in technology companies in a variety of contexts since leaving Palantir, most recently through his venture capital firm 8VC. He debuted on the Forbes "Midas List" in 2016 [26] (as the youngest member) and was most recently ranked No. 18 in the publication's list of "Top Tech Investors" in 2021. [27]

Anduin Ventures

In 2010, Lonsdale launched Anduin Ventures, a seed fund for information technology companies. Anduin's advisors included Alex Moore, Steve Loughlin, Matt Michelsen, and Brian Koo. Anduin's portfolio companies include Addepar, Wish, [28] Any.do, a project with Lady Gaga to launch Backplane, [29] Badgeville, Blueprint Labs, Edmodo, Healthtap, JoyTunes, Karma, Onramp, Ostendo, Ness, Practice Fusion and Vicarious. [30]

Formation 8

In 2011, Lonsdale co-founded Formation 8 with Brian Koo and Jim Kim. [31] Other senior members of Formation 8 included Gideon Yu and Pierre Lamond. The fund had a broad mandate, investing across stages in both IT and energy companies, with an intended emphasis on business development in Asia. [32] As of December 2015, Formation 8 recorded an 84% internal rate of return in its first fund, putting it among the top funds of its class. [32]

In the fall of 2015, Formation 8 announced the partners would not be raising a third fund together. [33]

8VC

In 2015, Lonsdale co-founded 8VC with a group that included 15 of the 25 colleagues from Formation 8. [34] As of 2018, 8VC manages roughly $3 billion in assets. [35]

While 8VC is a generalist fund, it has invested heavily in the biotechnology, healthcare, and logistics industries. [36]

8VC's portfolio companies include Synthego, Joby Aviation, Deliverr, Common, Asana, [37] IDx, [38] Orca, Cityblock, [39] The Boring Company, Vector, Honor, Flexport, Epirus, [40] and Anduril. [41]

Relocation to Texas

In November 2020, Lonsdale announced that he was moving his family and 8VC from the Bay Area to Austin, Texas. [42] In an opinion editorial published in The Wall Street Journal, he cited California's "bad policies [that] discourage business and innovation", worsening public safety, high taxes, and a deteriorating quality of life as the primary factors in his decision. [43] In the editorial and subsequent interviews, Lonsdale argued that the "intolerant far left" that ran California's government and were the loudest voices in Silicon Valley companies were the root cause of these problems. [44]

Philanthropy

Lonsdale and his wife Tayler are active in a variety of philanthropic and mission-driven pursuits.

He is the Chairman of ONEHOPE, a non-profit winery that has raised more than $4 million for charitable causes. [45] Lonsdale served on the Board of Strive for College [46] and was the founding Chairman of The Seasteading Institute. [47] He is involved with Argive, which is dedicated to regulatory transparency and accessibility. [48]

Lonsdale has funded the research of Jennifer Doudna and the Innovative Genomics Institute; [49] Doudna won the Nobel Prize for her work on CRISPR in 2020. [50]

In addition, Lonsdale is a trustee of the Ronald Reagan Presidential Foundation. [51]

Thorn

Lonsdale is a board member and adviser to Thorn, a non-profit founded by actors Ashton Kutcher and Demi Moore, which partners with innovative technology companies to prevent child-trafficking and child pornography. [52] [53] Thorn has helped identified more than 30,000 victims of abuse. [54]

Cicero Institute

In 2018, Lonsdale started the Cicero Institute, a policy group that delivers "entrepreneurial solutions to public problems." [55] The Cicero Institute campaigns for laws that allow private competition in government areas such as health care, housing, and education. [56]

Controversies

On January 27, 2015, former Stanford University student Ellie Clougherty filed a lawsuit against Lonsdale accusing him of rape and sexual and emotional abuse. [57] Lonsdale denied the claims and filed a counter suit against Clougherty. [58] Stanford University banned Lonsdale from campus as a result of the allegation. [59] Clougherty dropped all of her legal claims against Lonsdale in a court filing on November 2, 2015. Lonsdale also dropped his counterclaims. [60] Stanford University investigators, citing evidence uncovered during discovery, said Lonsdale did not violate Stanford's sexual harassment policies and lifted the ban from its campus. [59]

Family

In September 2016, Lonsdale married Tayler Cox. [61]

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References

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  2. ↑ "Unfiltered". unfiltered.tv. Retrieved 2021-01-04.
  3. ↑ Gould, Joe (2020-07-22). "Epirus, a venture-backed startup, inks deal with Northrop for counter-drone tech". Defense News. Retrieved 2021-01-04.
  4. ↑ "Joe Lonsdale moves forward with 8VC's new fund and more". TechCrunch. Retrieved 2021-01-04.
  5. ↑ Kaplan, Talia (2020-11-11). "Tech entrepreneur flees California for Texas". FOXBusiness. Retrieved 2021-04-28.
  6. ↑ "30 Executives Who Are Excellent At Chess". Business Insider. Business Insider Inc. 24 June 2012. Retrieved 12 October 2013.CS1 maint: discouraged parameter (link)
  7. ↑ "Joe Lonsdale - Entrepreneurship and 8VC (First Meeting, EP.09)". Ted Seides. 2019-09-29. Retrieved 2021-01-04.
  8. ↑ ""The Shield of Phi Kappa Psi"" (PDF). 2005. Retrieved January 5, 2021.
  9. ↑ "PayPal Mafia", Wikipedia, 2019-12-31, retrieved 2020-01-28
  10. ↑ Brehse, Tami. "The 'PayPal Mafia' formed in the early 2000s, and includes everyone from Elon Musk to the Yelp founders. Here's where the original members have ended up". Business Insider. Retrieved 2021-05-10.
  11. ↑ O'Mara, Kelly (10 June 2012). "Addepar means to be the only technology platform RIAs will ever need -- and has MIT minds and PayPal money to back it up". United States: RIABiz. RIABiz LLC. Retrieved 13 February 2017.CS1 maint: discouraged parameter (link)
  12. ↑ Burton, Katherine. "Clarium's Thiel Says Bearishness on Dollar 'Wrong'".
  13. ↑ Ari Gesher(2010-03-08). "Palantir Technologies » BlogArchive » Friction in Human-Computer Symbiosis: Kasparov on Chess". Blog.palantirtech.com. Retrieved 2012-01-30.
  14. ↑ Levy, Ari (2020-11-06). "Why Palantir co-founder Joe Lonsdale is leaving Silicon Valley". CNBC. Retrieved 2020-11-24.
  15. ↑ Gorman, Siobhan (2009-09-04). "How Team of Geeks Cracked Spy Trade". Online.wsj.com. Retrieved 2013-10-12.CS1 maint: discouraged parameter (link)
  16. ↑ "Addepar Names CEO, President and COO" (Manufacturing Close-Up). United States: Close-Up Media, Inc. Close Up Media, Inc. 20 July 2013.
  17. ↑ "How Addepar built an ecosystem around the ultra high net worth investment community with CEO Eric Poirier – Tearsheet". tearsheet.co. Retrieved 2021-01-04.
  18. ↑ "WealthTech Addepar raises $117M in Series E funding". Finextra Research. 2020-12-01. Retrieved 2021-01-04.
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  21. ↑ "About us". Esper. Retrieved 2021-01-04.
  22. ↑ "About". Anduin Transactions. 2020-03-18. Retrieved 2021-01-04.
  23. ↑ "For investors seeking a purpose-built CRM toolkit, Affinity raised $13.5 million to get you covered". TechCrunch. Retrieved 2021-01-04.
  24. ↑ Gould, Joe (2020-07-22). "Epirus, a venture-backed startup, inks deal with Northrop for counter-drone tech". Defense News. Retrieved 2021-01-04.
  25. ↑ Inc, Zanbato. "Zanbato Raises $8 Million in Series B Funding". www.prnewswire.com. Retrieved 2021-01-04.
  26. ↑ Kroll, Luisa. "America's Richest Entrepreneurs Under 40 2016". Forbes. Retrieved 2021-01-04.
  27. ↑ "Joe Lonsdale". Forbes. Retrieved 2021-01-04.
  28. ↑ "Investments". Anduin Ventures. Archived from the original on 29 April 2015. Retrieved 10 May 2015.CS1 maint: discouraged parameter (link)
  29. ↑ "From Hedge Funds to Lady Gaga". bloomberg.com. Business Week. 9 June 2011. Retrieved 2015-02-16.CS1 maint: discouraged parameter (link)
  30. ↑ "Investments". Anduin Ventures. Archived from the original on 2015-04-29. Retrieved 2013-10-12.CS1 maint: discouraged parameter (link)
  31. ↑ "Formation 8 Raises Its First Fund Of $448M To Plug Silicon Valley Startups Into Asian Conglomerates". TechCrunch. 2013-04-18. Retrieved 2013-10-12.CS1 maint: discouraged parameter (link)
  32. 1 2 Alden, William. "Out of Formation".
  33. ↑ "What Caused Formation 8 To Split, and What Comes Next?". fortune.com. 2015-10-11. Retrieved 2019-04-18.CS1 maint: discouraged parameter (link)
  34. ↑ "Formation 8 Axes Plans For Third Fund, Lonsdale Now Raising $400M For "8 Partners"". TechCrunch.com. 4 November 2015. Retrieved 26 August 2016.CS1 maint: discouraged parameter (link)
  35. ↑ Socotra (2018-09-24). "Startup Socotra Closes Nearly $6 Million Series A with 8VC to Modernize Insurance Technology". GlobeNewswire News Room. Retrieved 2021-01-05.
  36. ↑ "Companies". 8VC. Retrieved 2021-01-08.
  37. ↑ "TechCrunch". techcrunch.com. 31 January 2018. Retrieved 3 April 2018.CS1 maint: discouraged parameter (link)
  38. ↑ "Idx raises $33 million for AI diagnostic systems that detect eye disease and other conditions". Venture Beat. Retrieved 18 April 2019.CS1 maint: discouraged parameter (link)
  39. ↑ "Public health startup Cityblock raises $65M Series B". TechCrunch. Retrieved 2021-01-08.
  40. ↑ "Companies". 8VC.com. Retrieved 22 Nov 2018.CS1 maint: discouraged parameter (link)
  41. ↑ "Controversial surveillance startup Anduril gets a $1.9 billion valuation". Fortune. Retrieved 2021-01-08.
  42. ↑ Hartmans, Avery. "Palantir cofounder Joe Lonsdale is moving his VC firm from Silicon Valley to Austin, in part because it is 'more tolerant of ideological diversity'". Business Insider. Retrieved 2021-01-04.
  43. ↑ Lonsdale, Joe (2020-11-15). "Opinion | California, Love It and Leave It" . The Wall Street Journal. ISSN   0099-9660 . Retrieved 2021-01-04.
  44. ↑ "8VC founder Joe Lonsdale on why he decided to move this company from California to Texas". CNBC. 2020-11-18. Retrieved 2021-01-20.
  45. ↑ Aziz, Afdhel. "The Power Of Purpose: How ONEHOPE Wine Is Revolutionizing The Wine Industry Through Social Impact". Forbes. Retrieved 2021-05-10.
  46. ↑ "Board of Directors". Strive for College. Retrieved 2018-11-25.CS1 maint: discouraged parameter (link)
  47. ↑ "Glenn Beck talks to Joe Lonsdale about Seasteading". YouTube. 2008-08-27. Retrieved 2013-10-12.CS1 maint: discouraged parameter (link)
  48. ↑ "Team". ARGIVE. Retrieved 2021-01-04.
  49. ↑ "Berkley: Annual Report of Philanthropy 2018-2019" (PDF).
  50. ↑ "The Nobel Prize in Chemistry 2020". NobelPrize.org. Retrieved 2021-05-10.
  51. ↑ "Board of Trustees". www.reaganfoundation.org. Retrieved 2021-05-10.
  52. ↑ "Defending Children From Sexual Abuse | About Thorn". Thorn. Retrieved 2021-01-04.
  53. ↑ "Joe Lonsdale". Philanthropy Roundtable. Retrieved 2021-01-04.
  54. ↑ Fox, MeiMei. "How Thorn Is Fighting To Eliminate Child Sexual Abuse From The Internet". Forbes. Retrieved 2021-05-10.
  55. ↑ "The Cicero Institute". www.ciceroinstitute.org. Retrieved 2021-01-07.
  56. ↑ "The Cicero Institute". www.ciceroinstitute.org. Retrieved 2021-01-07.
  57. ↑ "Tech investor Joe Lonsdale counters rape allegations". Mercury News. Retrieved 2016-08-26.CS1 maint: discouraged parameter (link)
  58. ↑ "Joe Lonsdale Personal Statement". 2015-01-28. Retrieved 2015-10-15.CS1 maint: discouraged parameter (link)
  59. 1 2 "Woman drops sex assault case against U.S. venture capitalist". News.yahoo.com. 2015-11-03. Retrieved 2016-08-26.CS1 maint: discouraged parameter (link)
  60. ↑ Levine, Dan (2015-11-02). "Woman drops sex assault case against U.S. venture capitalist". Reuters . Retrieved 2021-01-14.CS1 maint: discouraged parameter (link)
  61. ↑ James, Susan Donaldson. "At high risk for breast cancer, why she's decided against a mastectomy". Today.com . Retrieved 14 October 2016.CS1 maint: discouraged parameter (link)
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