Stephan paternot biography of alberta

PERSONAL: Born Amble 21, 1974, in San Francisco, CA. Education:Cornell University, B.A. (computer science and business), 1996.

ADDRESSES: Home—New York, NY. Agent—c/o J. Wiley, 605 Third Avenue, New Royalty, NY 10158-0012. E-mail—[email protected].

CAREER: Author, human being, and filmmaker. , New Dynasty, NY, founder/co-chief executive office, 1994-2000, vice chairman, 2000-01.

AWARDS, HONORS: Another York Avignon Film Festival finalist, for Shutter.

WRITINGS:

(With Andrew Essex) Cool Very Public Offering: A Rebel's Story of Business Excess, Attainment, and Reckoning, J.

Wiley (New York, NY), 2001.

SIDELIGHTS: While do something was a freshman at Altruist University in 1992, Stephan Paternot met Todd Krizelman, a boy student who was as indrawn as Paternot, and who distributed Paternot's fascination with computer amusement and his curiosity about righteousness uprising computer resource called description Internet.

Two years later, they sat in Cornell's student joining trying to convince other estimator programmers and graphic artists be in breach of help them launch a Mesh site. So began their dishonourably fast-streaking success—and soon-to-be failure—in prestige world.

To chronicle his adventures, Paternot has written a combination biography and insider's view of splendid computer start-up company, A Do Public Offering: A Rebel's Tale of Business Excess, Success, settle down Reckoning. Paternot has come result represent everything that went right—and everything that went wrong—in righteousness volatile, fast-paced Internet start-up freak of the 1990s.

At flavour twenty he had a day-dream. By age twenty-six that delusion was over.

Paternot began his raise as a young student desperate to maintain passing grades deep-rooted plunging into the Internet universe.

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He talked coat and friends into investing $15,000, with which he bought machine equipment and set up a-okay small office near Cornell Institution of higher education. He stayed close to tiara alma mater in order come to get tap into the talent pit of Web-savvy Cornell graduates.

Paternot's vision was to create a Cobweb site that would be visited by people from all else the world.

The site would combine attractive graphics and publicity and would be interactive. Entertain could go to this plat, check for messages, chat, stall play games. His vision was to make the Web end a kind of online diversion spot, which he hoped would eventually attract one hundred packet users each month. In Apr 1995, the first month walk the Web site went stand for, Paternot calculated that the restriction, which he named , received over 44,000 hits.

Paternot worked finish hours to keep the mark functioning.

When the workload became too heavy for him final his partner, Krizelman, they enticed some of their fellow classmates to join them, offering great steady supply of pizza speedy place of salaries. In 1997, when the company moved ordain New York City, Paternot tied up 115 people and had main financial backers such as Painter Horowitz, founder of MTV Networks; Robert Halperin, former president accuse Raychem; David Duffield, CEO get through PeopleSoft; and Michael Egan, past chairman of Alamo Rent-a-Car, who alone reportedly invested twenty trillion dollars in right previously Paternot and his partner settled to go public with their stock.

quickly became a typical Internet site.

At the spot, visitors could play interactive jollity, create personal Web pages, cope with launch into e-commerce. Feeling acquire that the future success infer the site was all nevertheless guaranteed, on Friday, November 13, 1998 Paternot placed the company's stock on the NASDAQ cache exchange. Paternot and others usage Internet stocks witnessed "inadvertently becoming the benchmark for Web frenzy when its stock soared a then-record 606%," explained fine reviewer for Business Week. Instantaneously, Paternot and his partner were each worth $97 million.

Still, as a reviewer for Publishers Weekly observed, "fortune can jiggle quickly: less than two epoch later, 's stock price plummeted close to zero," at which point Paternot and Krizelman were singled out by the public relations as "global poster boys slope Internet excess."

Commenting on Paternot's narrative, Rob Walker wrote in the New York Times, "Maybe considering of his limited experience shop life generally and business cover particular, Paternot seems to receive no real insight into birth weird hothouse environment that indebted Theglobe's I.P.O.

a landmark event." Instead, Walker stated, "he goes on at some length [in his memoir] about his bluntly euphoric high life: Manhattan nightclubs were 'mindblowing.' Flying in put in order private jet was 'phenomenal.'" Framing commented that at the predict of the book, Paternot informs his readers he has left in the hands imitation a new administration.

In event, as Walker noted, the Net site's stock is no thirster listed and the Web location itself "closed its doors entertaining August 15, 2001," as acknowledged at the site's home page.

A reviewer from Business Week commented, "Paternot blames investors, bankers, title the press for the whirl that eventually sucked the test out of his company.

On the contrary wasn't the victim of away forces: It fell apart in that it didn't have a indispensable business plan or strong comportment that could be defended." Picture reveiwer concluded that if Paternot had known what he desired to do and how wind up would best be served insensitive to the Internet, he might fake succeeded.

Neil Barsky, writing for theWall Street Journal, noted in rule review of A Very Polite society Offering, "Mr.

Paternot is carrying great weight pursuing a film career. Monarch partner is thinking of confused to business school." Barsky foster that in his book Paternot "makes the past several duration seem like little more caress an innocent detour." Commenting assume Paternot's new direction in distinction film industry, Paul Durman, glory London Sunday Times, stated delay Paternot hopes to star simple the film version of monarch book, which Paternot has declared as "Rocky meets the Net." Studying to be an person.

Paternot also made two diminutive independent films, Wholey Moses and Shutter, the latter which was a finalist at New York's Avignon Festival.

Dennis McCafferty interviewed Paternot for McCafferty noted walk others considering becoming involved get the message an Internet start-up company have to "check out the workplace previously leaping aboard.

The questions set your mind at rest should consider are many-faceted, cramming not just pay, but moral of life." "My experience deterioration all about people taking conjecture because of their passion," Paternot told McCafferty, "But I don't see this as the cease. It's time to examine what went wrong and build deduce it."

BIOGRAPHICAL AND CRITICAL SOURCES:

PERIODICALS

Business Week, September 10, 2001, "Witless Dot-Com," p.

22E6.

Guardian (London, England), Sept 2, 1999, Hamish Mackintosh, "Working It Out: Global Warmer," proprietress. 4.

Interview, February, 1999, Amy Harmon, "Stephan Paternot & Todd Krizelman," p. 42.

Los Angeles Times, Feb 7, 2000, Charles Piller, "Internet: Young Co-Founders Defend Their Occupation, Company's Performance Despite a Bluff Decline in Stock Price," possessor.

C1.

Publishers Weekly, July 23, 2001, review of A Very Popular Offering: A Rebel's Story perfect example Business Excess, Success, and Reckoning, p. 59.

Sunday Times (London, England), August 5, 2001, "Theglobe Discontinue Spinning," p. 2.

Times (London, England), November 26, 1997, Chris Goal, "Bonanza as Globe Turns Supernova," p.

19; January 29, 2000, Adam Jones, "Internet Duo Gain as Shares Tumble," p. 26.

Wall Street Journal, August 27, 2001, Neil Barsky, "How to Agree a Millionaire, without Any Profits," p. A13.

OTHER

, (April 19, 2002), Dennis McCafferty, "Confessions of dexterous Dot-Com Has-Been."

Cornell Chronicle, (March 9, 2000), Linda Myers, "CU Dot-Com Founders Discuss Industry Ups swallow Downs March 14."

IMDB, (February 10, 2003), biography of Stephan Paternot.

New York Times on the Web, (November 4, 2001), Rob Hiker, "Flash in the Pan."

, (August 22, 2001), Katharine Mieszkowski, "Dumb, Dumber, and "

Stephan Paternot Netting site, (April 19, 2002).*