By Mo Krochmal,
PALO ALTO, Calif. -- Arthur Keller spent almost 20 years at Stanford University, earning his Ph.D. and then joining the faculty and taking a office in the Bill Gates building that houses the computer science department.
These days, Keller sleeps late and the only grades he worries about are his children's. At 43 years old, he is semi-retired -- or something very similar to that.
A database technology he helped design and build, which he describes as "helping simplify access to disparate electronic catalogs," has helped create two successful businesses -- Persistence Software and Mergent Systems -- and has made Keller a stock options millionaire. Persistence went public last June, while Mergent was acquired in a $200 million deal by CommerceOne in January.
Keller's association with Stanford ended in a layoff, the money that funded his position ran out, and he headed to the private sector and a consultancy he runs out of his two-story Palo Alto home.
Keller's work now builds on his deep knowledge of database technology and allows him to continue teaching -- this time entrepreneurs rather than grad students, as well as being able to spend time with his children and dabble in Silicon Valley venture philanthropy.
He works with ccRewards.com, an Internet company built to manage online coupon and discount offers, and with start-up Whoosh, a small company operating in stealth mode.
He talked to TechWeb's Mo Krochmal Thursday about his lifestyle decisions and his new career as an angel investor and technology business consultant.
What is your job title?
I'm an angel investor and I'm the only one in Silicon Valley who is not working 60 hours a week. I invest in companies and I only invest in them if I can work with them. I provide hands-on advice, help with business strategy and technology strategy and how to structure it to raise money from venture capitalists.
What is the best way to do that?
Tell them you've gotten a lot of interest and the round of financing is about to close and they better get in there.
Venture capitalists say they like to get back two dollars for every one dollar they invest. What kind of returns do you like?
I'm usually the first dollar that comes in and I use my network to bring in more. I want more than $2 back. But, I'm patient, I want to spend the time.
So, how much time do you spend on work weekly?
I spend 30 hours, plus I do volunteer work, so about 40 to 50 hours a week. I sleep in in the morning, but I stay up until 2 or 3 in the morning. I think it's great.
Do you miss the academic life?
A little bit. I was at Stanford from 1977 to 1985 as a graduate student and from 1987 until 1999 as a researcher. But I'm having so much fun now working with smart people in start-ups. It's exciting being an adviser with these companies. It's just like working with students -- and a lot of them are just out of school anyway. When I was a kid, I just wanted to be a professor. I was that for a while, now I'm having a lot of fun helping people.
This pays better doesn't it?
Actually, I wasn't paid too badly at Stanford. And I wrote a Pascal textbook in 1988 that brought in enough to put a down payment on a house.
I've had two successes so far and no failures. My wife will soon help out in the consulting business, reading and critiquing business plans.
It's possible to design the lifestyle you want. We are helping people and having a lot of fun.
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