Bill Gurley
InvestorMember, Board of Directors at HackerOne · Board director at Sailthru
Austin, TX
Writes $1M – $15M checks · typically $8M
Midas 2001Midas 2002Midas 2006Midas 2007Midas 2008Midas 2013 · #33Midas 2014 · #70Midas 2015 · #9Midas 2016 · #8Midas 2017 · #7Midas 2018 · #2Midas 2019 · #3Midas 2020 · #7Midas 2021 · #20Midas 2022 · #24
Photo: TechCrunch, CC BY 2.0, via Wikimedia Commons ↗
About
Bill Gurley spent over two decades as a general partner at Benchmark, where his board seats included Uber, GrubHub, Zillow, and Stitch Fix. A former Wall Street research analyst, he is known for his long-form blog Above the Crowd and for public warnings about late-stage valuations and market structure. He stepped back from active investing at Benchmark in 2020 and now co-hosts the BG2 podcast with Brad Gerstner.
Invests in
AI & Machine LearningConsumerCybersecurityData & InfrastructureDeveloper ToolsE-commerceEnterprise SoftwareFuture of WorkHealthtechMarketplacesSaaSSocial
Beyond investing
- Education
- Earned an MBA from the University of Texas in 1993. Holds a BS in computer science from the University of Florida, earned in 1989. Studied at University of Florida (Bachelor of Science, Computer Science, 1989) Studied at University of Texas McCombs School of Business (MBA, 1993) Gurley graduated from Florida with a computer-science degree in 1989 and chose Compaq over IBM partly because of compensation, returning to the Houston area.
- Boards
- Serves on the advisory board of the McCombs School of Business at the University of Texas. Gurley serves as a Trustee of the Santa Fe Institute.
- Charities
- Gurley and his wife are active supporters of the Opportunity Fund and KIPP Bay Area. UT Austin announced that Amy and Bill Gurley made a $5 million one-for-one matching gift establishing the Amy and Bill Gurley Endowment for Texas Robotics, supporting undergraduate research, equipment, computing and materials.
- Communities
- Gurley's current professional profile identifies him as founder and president of P3 Institute, devoted to discovering and amplifying measurable policy reforms. Independent institutional materials remain sparse, so program scope and impact should not be inferred beyond his stated agenda.
- Awards
- Is a Chartered Financial Analyst. Was named to the Institutional Investor All-American Research Team in both 1995 and 1996. Gurley was named VC of the Year at TechCrunch's annual Crunchies awards in March 2016. Institutional Investor: Named to the All-American Research Team in consecutive years.
- Hobbies
- Has a habit of reading biographies, which inspired his book. Gurley maintains a blog about the evolution and economics of high technology businesses called Above the Crowd.
- Family
- Gurley is married with three children.
- More
- Wrote a book titled Runnin' Down a Dream about finding a fulfilling dream job, drawing on six years of research into career satisfaction. Gurley is a Chartered Financial Analyst. Gurley is known for his height of 6 ft 9 in and played on the University of Florida men's basketball team. BG2: Co-host with Brad Gerstner of a podcast on technology, markets, investing and capitalism. Public secondary biographies identify Gurley as born May 10, 1966 in Dickinson, Texas, outside Houston. A primary civil record was not reviewed; 2026 Zillow's age-59 filing is consistent with 1966 but not an exact date. He says using Borland products and buying Borland stock, while watching Compaq's public-company economics, shifted his interests from engineering toward business and finance. After the 1993 M.B.A., Gurley spent four years on Wall Street, including three at CS First Boston; his own biography records Institutional Investor All-America Research Team recognition in 1995 and 1996 and lead-analyst responsibility for Amazon's IPO. Gurley contrasts Hummer Winblad's hierarchy with Benchmark's equal economics: on joining, the founding partners shared in his work and had incentives to mentor him. Equality is an institutional design feature, not proof that each partner personally sourced every firm investment. Gurley says OpenTable was his first marketplace thesis at Benchmark: restaurant hardware looked unattractive in isolation, but restaurant and diner participation could mutually reinforce a single reservation network. OpenTable IPO'd in 2009 and Priceline acquired it in 2014. Gurley first invested in Zillow and joined its board in 2005, served through 2015, and was reappointed in January 2024. Zillow's announcement credits him as an early investor and category-building director; it does not disclose Benchmark's exact check or his personal proceeds. Benchmark supplied Grubhub's $11 million Series C in 2010. Gurley praised founders Matt Maloney and Mike Evans for launching markets, scaling and building a valued brand and highlighted renewed collaboration with OpenTable founder Chuck Templeton. Benchmark led Uber's February 2011 $11 million Series A at a reported $60 million post-money valuation and Gurley joined the board. Later references to a $12 million Benchmark cost include additional capital and should not be confused with the initial round or Gurley's personal money. Benchmark backed Nanosolar and founder Martin Roscheisen says Gurley served on its board for eight years. The thin-film solar company raised more than $450 million, cut up to 75% of staff and liquidated assets in 2013. Roscheisen later sharply criticized Gurley and Benchmark's governance; his account is a conflicted founder perspective, while the shutdown is independently reported. Gurley announced Benchmark's partnership with Jason Kilar and Richard Tom in 2014. Vessel raised more than $130 million but struggled to make paid early-access video work against free YouTube; Verizon acquired its team, product and technology in 2016 and shut the service. Terms were undisclosed, so return magnitude is unknown. Gurley joined Good Eggs' board when Benchmark led a $50 million 2018 round, citing operational discipline. He left in May 2023; reporting says a lifeline round cut valuation about 94% from its 2020-era level, and GrubMarket acquired the company in 2024 at a value only slightly above the prior $22 million mark. This was an impaired institutional outcome, not necessarily a total loss, and exact Benchmark returns are private. In 2015-2016 Gurley argued that giant late-stage rounds lacked IPO-grade scrutiny, encouraged unsustainable burn, inflated competition and delayed liquidity. Critics noted that Uber—his signature board company—also raised heavily and pursued subsidized expansion, making his warning important but not detached from the behavior criticized. Using Jay Ritter's data, Gurley argued that traditional IPO allocations systematically transfer value from issuers to favored buy-side clients. He organized a 2019 industry event and promoted direct listings as more transparent price discovery, while acknowledging that companies needing primary capital may still prefer an IPO. Gurley has argued since at least 2006 that Sarbanes-Oxley compliance costs deter smaller growth companies from U.S. markets, while later warning that irresponsible private-company disclosure and financing behavior could invite deserved regulation. These are his policy views, not settled empirical conclusions. In 2020 Gurley opted out of Benchmark's tenth fund and stopped ordinary new investments. By 2023 he remained a partner in prior vehicles, attended meetings and concentrated on roughly ten portfolio boards; describing the move simply as retirement or continued full activity would each be incomplete. Gurley has written Above the Crowd since the 1990s/2000s on technology-business economics, marketplaces, valuation, financing and policy. The live archive spans about 25 paginated index pages, but no immutable complete bibliography was located. Since January 2024 Gurley and Brad Gerstner have discussed AI capital spending, chips, software valuation, venture corrections, policy and capitalism. The show represents the hosts' analysis, not Benchmark institutional positions. Crown Currency published Runnin' Down a Dream: How to Thrive in a Career You Actually Love on February 24, 2026. The book develops a decade-long project and six principles around curiosity, peer groups, mentors, credit and purposeful work; Michael J. Mooney assisted with the writing. Gurley and Amy moved from San Francisco to downtown Austin around 2021-2022. He publicly described live music, restaurants, walkability, guitar, public-stock investing and UT commercialization work as interests after stepping back; no private residence details are retained.
From Bill's own website — common ground for a warm intro.
Board director at Sailthru
Intro paths
In turn, Bill can intro founders to Sailthru's investors below.
Sailthru's investors · 7
Co-founders at Sailthru
Experience
- P3 InstituteFounder and Presidentcurrent2026 — presentAustin, Texas, United States
- The Runnin' Down a Dream FoundationFoundercurrent2026 — presentAustin, Texas Metropolitan Area
- Crown CurrencyAuthor: Runnin' Down a Dreamcurrent2025 — presentAustin, Texas, United States
- BenchmarkGeneral Partnercurrent1999 — present
- ZillowMember, Board of Directorscurrent2024 — present
- Solv.Member, Board Of Directorscurrent2017 — present
- Marco PoloMember Board Of Directorscurrent2016 — present
- InstaworkMember, Board of Directorscurrent2016 — present
- Santa Fe InstituteMember of the Board of Trusteescurrent2017 — present
- HackerOneMember, Board of Directorscurrent2014 — present
- Stitch FixMember, Board of Directorscurrent2013 — presentSan Francisco Bay Area
- Nextdoor.comMember, Board of Directorscurrent2008 — present
- ImpactMember, Board of Directors2020 — 2024
- Good EggsMember, Board of Directors; Chair, Risk/Audit Committee2018 — 2023
- SailthruMember, Board of Directors2013 — 2019
- Brighter.comMember, Board of Directors2011 — 2017Santa Monica, CA
- Uber TechnologiesMember, Board of Directors2011 — 2017
- DogVacayMember, Board of Directors2012 — 2017
- Linden LabMember, Board of Directors2004 — 2017San Francisco, CA
- GrubHubMember, Board of Directors2010 — 2015
- Zillow.comMember, Board of Directors2005 — 2015
- OpenTableMember, Board of Directors1999 — 2014
- Scale ComputingMember, Board of Directors2010 — 2014
- DemandforceMember, Board of Directors2010 — 2012
- Clicker Media IncMember, Board of Directors2008 — 2011
- VUDUMember, Board of Directors2006 — 2010
- JAMDAT (EA Mobile)Member, Board of Directors2004 — 2006
- Avamar TechnologiesMember, Board of Directors2000 — 2005
- Shopping.comMember, Board of Directors1998 — 2005
- Nordstrom.comMember, Board of Directors1999 — 2002
- Fortune MagazineFreelance Writer1996 — 2001
- EmployeaseMember, Board of Directors1998 — 2000
- The KnotMember, Board of Directors1998 — 1999
- Deutsche BankSell-side Analyst, DMG Technology Group1996 — 1997
- Credit SuisseSell-side Analyst1993 — 1996
- Hewlett-PackardElectrical Engineer, Compaq Computers1989 — 1991
Deals · 1
Attribution from SEC filings, press coverage, and firm rosters.
Other disclosed investments
Board seats
BrighterDemandforceDogVacayGood EggsGrubhubHackeroneInstaworkLinden LabLiveOpsMarcoPoloNanosolarNextdoorOpenTableScale ComputingStitch FixUber TechnologiesVesselZillowZillow
Investor
Avamar TechnologiesBrighterBusiness.comClickerClicker.comDemandforceDogVacayEmployeaseGood EggsGrubhubHackeroneInstaworkJAMDAT MobileLinden LabMarcoPoloNanosolarNextdoor (NYSE: 2021)OpenTableScale ComputingShoppingSolv HealthStitch FixThe KnotTrunk ClubUberVesselVuduZillowZillow.com
Sources: curated public sources · SEC Form D filings · the investor's own website.
Public positions
He looks for where an intermediary is extracting a rent, and then asks whether that rent is earned. Applied to marketplaces it produces the take-rate framework; applied to IPOs it produces the underpricing argument; applied to AI policy it produces the capture argument. The through-line is a suspicion of gatekeepers and a preference for structures that price things honestly, including when the gatekeeper is his own industry.
2012 · Marketplaces
He set out ten factors that determine whether a digital marketplace can capture value, arguing that fragmentation, frequency, payment-flow position and the ability to expand the underlying market matter more than raw growth.
Still the most widely used framework for evaluating marketplace businesses.
2016 · Private markets
In On the Road to Recap he argued that structured late-stage financings had disconnected paper valuations from real economics and that a repricing was coming.
The most-cited warning of the pre-2022 cycle.
2019 · Going public
He argued the traditional IPO process systematically underprices offerings and that companies should not let intermediaries hand-allocate underpriced stock.
Reframed a process most founders accepted as fixed.
2020 · Going public
On the approval of primary direct listings he argued the change fundamentally undermined the traditional IPO's rationale.
A dated position on a structural market change.
2023 · AI regulation
In his 2,851 Miles talk he warned that AI licensing regimes would become regulatory capture — rules acquired by incumbents and operated for their benefit — invoking George Stigler's capture theory, and argued open source is the structural counterweight.
His most influential recent intervention, delivered as AI regulation was being drafted.
2017 · Uber
Speaking publicly after the leadership crisis, he defended Benchmark's decision to intervene in Uber's governance as necessary to protect the company.
His own account of the most contested episode of his career.
2025 · AI capital spending
On BG2 he has repeatedly pressed on whether hyperscaler capital expenditure is running ahead of demonstrable demand, while stopping short of calling it a bubble.
The current expression of the same instinct that produced On the Road to Recap.
Prediction record
The 2012 marketplace framework held. On the Road to Recap was right on substance and six years early — the correction came in 2022. Direct listings were legitimised but did not displace the underwritten IPO. His 2023 regulatory-capture warning is still open, and is partly a warning intended to prevent what it predicts.
Structured late-stage rounds and inflated private marks would end in a repricing
Correct2016 · Years
The repricing arrived in 2022 rather than immediately, but arrived comprehensively — down rounds, structure unwinding and widespread markdowns.
Six years early, which cost anyone who positioned for it immediately.
Direct listings would displace the traditional underwritten IPO
Correct2019 · Years
Exchange rules changed to permit primary direct listings and several large companies used the route, but the underwritten IPO remained the default.
The mechanism was legitimised; the displacement did not happen.
Marketplace value would accrue to businesses inside the payment flow with high frequency and fragmented supply and demand
Correct2012 · Decade
The marketplaces that captured the most value over the following decade fit the pattern closely.
His own portfolio is part of the evidence, so the sample is not independent.
AI regulation would be captured by incumbents through licensing regimes
Open2023 · Years
Licensing-style proposals have advanced in some jurisdictions and stalled in others, while open-weight models have remained competitive.
Partly a warning intended to change the outcome it predicts.
Controversies & responses
Where Bill has drawn public criticism — with what happened, their response, and the criticism itself, side by side.
▶Benchmark's lawsuit against Travis Kalanick2017
- What happened
- Gurley left the Uber board in June 2017 during the crisis that ended with Kalanick's resignation as CEO. That August, Benchmark sued Kalanick in Delaware, alleging fraud, breach of contract and breach of fiduciary duty, and seeking to remove him from the board. The suit was dropped in January 2018 as a condition of the SoftBank investment, which let both Benchmark and Kalanick sell substantial stakes.
- The response
- Benchmark framed the action as necessary to protect the company's governance; Gurley has defended the intervention publicly.
- The criticism
- It became the most prominent investor-founder rupture in venture history. Critics argued a firm suing the founder it backed damaged the trust the industry runs on, and that dropping the suit as a condition of a deal in which Benchmark could sell undercut the governance rationale.
- Where it stands
- Dismissed in January 2018; still cited on both sides of the founder-versus-board argument.
▶Being right too early2016
- What happened
- On the Road to Recap warned in April 2016 that private-market valuations were disconnected from economics. The correction did not arrive until 2022.
- The response
- He has been consistent rather than triumphant about it, and continued making the argument through the intervening years.
- The criticism
- A call six years early is difficult to act on; some argued the warning was structurally right but practically unusable, and that repeated early warnings dull their own effect.
- Where it stands
- Vindicated on substance, contested on timing.
▶Direct listing advocacy2019
- What happened
- He campaigned publicly and through invitation-only symposia against the traditional IPO process, arguing underwriters systematically underprice offerings.
- The response
- He framed it as founder-side advocacy against an intermediary rent.
- The criticism
- Underwriters and some issuers argued that book-building manages risk and secures long-term holders, and that direct listings suit only companies that need no capital and have strong brands.
- Where it stands
- Rules changed; the underwritten IPO remains the default route.
Founder fit — who Bill backs
Historically: a marketplace founder who understands their own take-rate logic, sits inside the transaction, and can show demand that did not exist before them — and who wants a board member who will engage rather than defer. Note that he stepped back from active investing in 2020, so this describes his lens rather than an open cheque.
Structured late-stage rounds, growth funded by permanent subsidy, and businesses whose defensibility rests on incumbent-written rules. And practically: he is not making new investments, so a pitch to him is a request for a view rather than for capital.
How to pitch
Work through his ten marketplace factors before you meet and name the ones you fail — he will find them anyway. Show contribution margin rather than gross bookings, and be able to defend your burn as a decision. If your last round carried structure, address it directly. Do not present a regulatory licence as your moat.
As of August 2026 his main public output is BG2, the podcast he has co-hosted with Brad Gerstner since October 2023, where the recurring subject is whether AI capital spending is running ahead of demonstrable demand — the same instinct that produced On the Road to Recap, applied to a new cycle.
Editorial inference from Bill's portfolio, writing and public record — not a published mandate.
Investment themes
11 documented themes from Bill's essays, talks and portfolio, grouped by what they say about founders.
▶More themes9
All markets are not created equal2012
His most-read essay sets out ten factors that determine whether a digital marketplace can hold economics — fragmentation on both sides, frequency, payment-flow position, network effects, expansion of the underlying market, and the risk of disintermediation.
For founders: Marketplace pitches are still measured against this checklist; know which factors you fail.
Be in the payment flow2012
A marketplace that sits inside the transaction can extract economics; one that only introduces the parties usually cannot.
For founders: If you do not touch the money, explain how you will.
Grow the pie, don't slice it2012
The best marketplaces expand the underlying market rather than redistributing an existing one.
For founders: Show demand that did not exist before you.
Late-stage private capital hides risk2016
On the Road to Recap argued that structured late-stage rounds and unicorn paper valuations had disconnected private marks from underlying economics, and that a reckoning would follow.
For founders: Structure in a round — ratchets, preferences, guarantees — is a warning sign he reads immediately.
Burn rate is a strategic choice2014
He has argued consistently that high burn is not a neutral by-product of growth but a decision that narrows a company's future options.
For founders: Expect to defend your burn multiple as a strategy, not a circumstance.
The IPO process is a wealth transfer2019
He argued that traditional underwritten IPOs systematically underprice, transferring value from company and existing shareholders to allocated buyers, and campaigned for direct listings as the alternative.
For founders: He is a founder-side voice on going public and will push back on standard bank advice.
Direct listings should include a primary raise2020
He supported the exchange rule changes that let companies raise new capital in a direct listing, calling it the change that made the mechanism a genuine alternative.
For founders: There is more than one route to public markets, and he knows the mechanics.
Regulatory capture is the sixth force2023
In a talk titled 2,851 Miles — the distance from Silicon Valley to Washington — he argued that incumbents acquire regulation and operate it for their own benefit, and warned that AI licensing regimes would do the same. He invoked George Stigler's capture theory directly.
For founders: He is hostile to regulation written by incumbents and sympathetic to open source as a counterweight.
Small funds, concentrated bets, equal partners1999
Benchmark's model — a flat partnership, deliberately modest fund sizes, few investments each and deep partner involvement — is the structure he practised for twenty-one years.
For founders: Expect one partner, deeply engaged, rather than a platform team.
▶AI & media1
Open source as an antidote to capture2023
In the same talk he argued open-source AI is the structural defence against a licensed, incumbent-controlled model layer.
For founders: Open-weight strategies have an ally in him.
▶Founders & company building1
Governance is not ceremonial2017
Benchmark's decision to sue a founder-CEO it had backed is the strongest statement any venture firm has made that board obligations bind founders too.
For founders: He treats governance terms as real, not as paperwork.
Podcasts & interviews
featuring Bill GurleyAre entrepreneurs happier? Bill Gurley - Benchmark Partner, Backed Uber, Zillow, Stitch Fix
Scott D. Clary - Success Story Podcast
Watch CNBC's full interview with Benchmark's Bill Gurley
cnbc.com
MiB: Bill Gurley, Benchmark
Masters in Business / The Big Picture · ritholtz.com
Watch CNBC's full interview with Benchmark general partner Bill Gurley
cnbc.com
The Conveyor Belt That Ruins Your Life | Bill Gurley - Benchmark Partner (Uber, Zillow, Stitch Fix)
Scott D. Clary - Success Story Podcast
Bill Gurley: Runnin' Down a Dream Rethinks Career Advice
Crazy Good Turns · crazygoodturns.org
6 more appearances
- BG2 with Brad Gerstner and Bill Gurley2026-01-01
- BG2 Episode 1: MANG, AI Valuations and the VC Correction2024-01-25
- Benchmark's Bill Gurley on the state of the IPO market2023-09-11
- From his new home in Austin, Bill Gurley opens up2023-05-16
- I give a lot of credit to Airbnb's Chesky for the quarter they put together, says Benchmark's Bill Gurley2022-05-04
- Benchmark Capital's Bill Gurley on Prop. 22, direct listings and work from home (Full Interview)2021-08-25
Writing
All posts ↗Bill Gurley recently announced a forthcoming book on finding a fulfilling career, and has previously written about venture capital governance red flags in light of FTX and about IPO allocation practices used as marketing by SoFi and Robinhood.
Book expanding Gurley's career research and speech into six principles; written with Michael J. Mooney.
Gurley announces a pre-orderable book, based on six years of research into career satisfaction, aimed at helping readers find and pursue a fulfilling dream job.
Prompted by the FTX collapse, Gurley lists warning signs of corporate malfeasance in private companies, including frothy markets, weak boards, dual-class stock, audit aversion, and unusual financial reporting.', 'published_date': '2022-11-28'.
Gurley examines how firms like SoFi and Robinhood use one-day IPO 'pops' as free-money marketing, arguing these gains represent wealth transfers funded by issuers.", 'published_date': '2021-06-03'.
Economic case for Internet marketplaces unlocking underused goods, assets and labor.
Analysis of unicorn capitalization, burn, valuation resets, responsibility and IPO liquidity.
10 more posts
- Investors Beware: Today's $100M+ Late-stage Private Rounds Are Very Different from an IPO2015-02-25
- Welcoming Jason Kilar, Richard Tom and the Vessel team2014-06-24
- HackerOne: A Superior Solution for Solving Web Vulnerabilities2014-05-28
- A Rake Too Far2013-04-18
- Our Most Recent Marketplace Investment, DogVacay2012-11-13
- All Markets Are Not Created Equal2012-11-13
- Intuit to Acquire Demandforce for $424MM2012-04-27
- All Revenue is Not Created Equal2011-05-24
- Note To Timothy Geithner2009-03-26
- Why SOX Will Lead to the Demise of U.S. Markets2006-04-05
Colleagues at HackerOne
Network8
Investors connected to Bill in public investor directories — a warm-intro map.
Frequently asked questions
- Is Bill Gurley still an active Benchmark investor?
- Not in the ordinary new-fund sense. He did not join Benchmark's tenth fund in 2020 and stopped new checks, but remained a partner in older funds, attended meetings and continued portfolio and board work. Current issuers still call him a Benchmark general partner, while BG2 uses former GP.
- What did Gurley do before venture capital?
- Technical marketing at AMD, design engineering at Compaq, an M.B.A. at UT Austin, then technology equity research at CS First Boston and Deutsche Bank/DMG. He was a ranked analyst and lead analyst on Amazon's IPO before joining Hummer Winblad.
- Which Gurley investments are most directly documented?
- OpenTable, Zillow, Grubhub, Uber, Nextdoor, DogVacay, Stitch Fix, HackerOne, Vessel, Solv, Good Eggs and Instawork have direct writing, company, filing or board evidence. Demandforce and JAMDAT also have strong direct attribution. Exact legal fund vehicles and checks are often private.
- Did Gurley invest in every famous Benchmark company?
- No. Equal economics and partnership collaboration do not establish individual sourcing. eBay and Webvan predated his 1999 arrival; Twitter, Yelp and Instagram are Benchmark examples he discusses, but reviewed evidence does not make them Gurley-led investments.
- What was Gurley's role in Uber?
- He led Benchmark's $11 million Series A in February 2011 and joined the board, becoming a close Kalanick adviser. He left in June 2017 during the culture and governance crisis; Benchmark partner Matt Cohler replaced him.
- What happened in Benchmark's lawsuit against Travis Kalanick?
- Benchmark alleged Kalanick fraudulently obtained control over three added board seats while concealing company problems. Kalanick disputed the claims, a judge sent the matter toward arbitration, and Benchmark dropped it as the 2018 SoftBank governance transaction closed. There was no merits judgment validating the allegations.
- What criticism applies to Gurley's Uber governance?
- The board acted amid serious company problems, but critics observed that Gurley sat on the board that approved the 2016 expansion later challenged as fraudulently induced. That raised questions about investor oversight and diligence; it is not proof Gurley knew of or participated in misconduct.
- What does Gurley look for in marketplaces?
- A poor status quo, major user-experience improvement, meaningful technology leverage, fragmentation, useful frequency and payments, large and expandable TAM, favorable participant dynamics and genuine network effects. He also emphasizes dense liquidity before broad expansion and a sustainable rake.
- How should a founder pitch Bill Gurley?
- First verify that the goal is advice or a legacy relationship, because he stopped ordinary new Benchmark deals in 2020. Then show the broken status quo, a dense wedge, both sides of the network, causal network effects, unit economics, take rate, revenue quality, capital plan, governance and the founder's obsessive learning. This is editorial synthesis, not a published application form.
- Which investments failed or were impaired?
- Nanosolar liquidated in 2013; Vessel's consumer service shut after Verizon bought the technology and team; Good Eggs suffered a reported 94% valuation cut before a low-valued 2024 acquisition. Webvan failed too, but Benchmark invested before Gurley joined, so it is not his deal. A complete loss list and fund returns are not public.
- What public-company boards does Gurley currently hold?
- Filing-confirmed current boards are Zillow Group, Stitch Fix and Nextdoor Holdings. Zillow reappointed him in 2024; Stitch Fix dates service to August 2013; Nextdoor elected him through its 2028 annual meeting.
- What are Gurley's best-known public-market positions?
- He has criticized Sarbanes-Oxley costs, giant opaque private rounds, excessive burn and traditional IPO underpricing, while supporting public-company controls, liquidity and direct listings when primary capital is not needed. These are argued policy and market positions, not universally accepted conclusions.
- What is Gurley's current work beyond investing?
- He co-hosts BG2, published Runnin' Down a Dream in 2026 and identifies himself as founder and president of P3 Institute. He also continues legacy portfolio and public-board duties.
- What philanthropy is publicly documented?
- Amy and Bill Gurley made a $5 million matching gift establishing a Texas Robotics endowment. Institutional biographies also document support for Opportunity Fund, KIPP Bay Area and Second Harvest of Silicon Valley. A complete grant history is not public.
Paths to reach Bill
People who overlapped with Bill at the same organization — a shared school or employer with one of them is a warm way in.
Together at BenchmarkBill: General Partner Emeritus
Together at Good EggsBill: Member, Board of Directors; Chair, Risk/Audit Committee
Together at Scale ComputingBill: Member, Board of Directors
Together at SailthruBill: Director
Together at VUDUBill: Member, Board of Directors
Together at Credit SuisseBill: Sell-side Analyst
Same school
Also attended Texas McCombs School of Business239
.png)
+ 233 more
Also attended University of Florida212
+ 206 more
Also attended Millsaps College5
Shared employers
Also worked at Instawork9
+ 3 more
Also worked at OpenTable15
+ 9 more
Also worked at Fortune Magazine11
+ 5 more
Also worked at Deutsche Bank786
+ 780 more