Venture capitalists and other technology investors are
applauding Julius Genachowski (pictured) as President-elect Barack Obama's pick to be chairman of the Federal Communications Commission.
Genachowski, who has known Obama since they worked together as students on the Harvard Law Review,
has a wealth of experience in tech startups as an entrepreneur and investor. Currently, he is a managing director of venture
capital firm Rock Creek Ventures, a special adviser to buyout firm
General Atlantic Partners LLC and the co-founder of tech accelerator LaunchBox Digital. Previously, he was former general counsel, head of business operations and a member of Barry Diller's office of the chairman at IAC/InterActiveCorp.
Genachowski was also a former
senior aide to former FCC Chairman Reed Hundt. Under Genachowki's leadership, the FCC is likely to make fast, affordable, open access to the Internet for everyone a high priority. He is also perceived to be a foe of media consolidation.
"This news made me smile a mile wide," blogged Union Square Ventures founder Fred Wilson, calling Genachowski "one of us."
Other tech investors cheering the news include Spark Capital's Bijan Sabet and Betaworks' Andrew Weissman.
"A friend of tech and the Internet and the startup ecosystem running the FCC," glows Wilson. "Just think about that and smile with me." --
Mary Kathleen Flynn
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