Early Google exec got Larry Page's backing for a start-up factory focused on saving the planet
While Page was the initial Alphabet sponsor, Friedberg said the Google co-founder hasn't been involved in the company for a while. Alphabet'sTPB is an investment company, but it's not set up as a venture fund. That means Alphabet and other outside investors own shares in the parent entity but not the portfolio companies. They only get liquidity if TPB goes public or gets acquired.
"At least for my lifetime, I don't think there's going to be any shortage of problems and opportunities to go after," the 41-year-old Friedberg said. "If we have a liquidity event, we should be able to recycle that capital and use it for new work."
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