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Forbes Daily Briefing

Meet The Billionaire Investor Who Owns The Land Where Jurassic Park Was Filmed

Forbes Daily Briefing

Forbes

Careers, Business, News, Entrepreneurship

4.612 Ratings

🗓️ 21 September 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

Walter Kortschak, who made his fortune from 40 years of technology bets, opens up about his investing failures and triumphs—and why it’s dangerous to get swept up in AI’s “mass hysteria.”

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Transcript

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0:00.0

Here is your Forbes Daily Briefing Bonus Story of the Week.

0:04.0

Today on Forbes, meet the billionaire investor who owns the land where Jurassic Park was filmed.

0:11.0

Billionaire Venture Capitalist Walter Courtschak is confident in his formula.

0:17.0

He told Forbes, quote,

0:19.0

investing is about duration and persistence.

0:21.0

I don't know a lot of folks in our industry who have done very early

0:24.8

stage, growth equity, and private equity, and done it well for this long consistently.

0:31.1

The 65-year-old longtime investor owns homes in Aspen, Colorado and London, plus a nearly 3,000-acre Island of Kauai. He purchased most of his Hawaii land, where Jurassic Park was filmed,

0:46.2

and just down the street from Mark Zuckerberg's property in 2003.

0:50.9

Courtracks assets are now worth an estimated $1.6 billion, thanks to his tenure at Growth Equity

0:57.0

Firm Summit Partners and, later, personal early stage investments that paid off big.

1:04.0

Born in Canada to an Austrian father and an American mother,

1:08.0

Courchak had an international childhood,

1:10.0

raised largely in Geneva, Switzerland,

1:12.0

where his father worked at the Swiss outpost of chemical

1:15.1

manufacturer DuPont.

1:18.2

Courchak first wanted to be a software engineer and earned two degrees in the discipline, a bachelor's from Oregon State and a master's from

1:25.3

Caltech. Then he joined a computer graphics startup in 1982 that later became MSC software.

1:36.8

A couple years later he returned to business school at UCLA where he was one of two quote venture fellows in 1985

1:41.1

through the fellowship which places students in summer roles at VC firms,

1:46.2

Kortchak interned at Crosspoint Venture Partners,

1:49.2

an early seed stage firm.

...

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