John Doerr is one of the most prolific venture capitalists in the world, and one whose investments have been at the heart of the emerging Internet industry. His most recent -- and most spectacular -- success is Google, which Doerr backed in 1999 despite significant skepticism among other VCs. Asked at the time why he would back a search company with no proven business model, Doerr responded: "With this kind of traffic, we'll figure it out." Seems they did. In conversation with journalist and author John Heilemann, who has been jousting onstage with Doerr for nearly a decade now. A not to be missed discussion.

This is a presentation delivered at the Web 2.0 Conference held in San Francisco, CA, October 5-7, 2004. Our thanks go to MediaLive International and O'Reilly Media, the producers of Web 2.0, for permission to bring you this session, one of many from Web 2.0 here on IT Conversations.