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May 31, 1999

Spotlight: San Francisco

Do your homework before you visit

When the California venture firm Kleiner Perkins Caufield & Byers reaped its $250m return on Netscape's IPO, tremors shook the world. Wall Street bankers took notice. They had been feeling the tremors grow, but now their seismographs were off the page. Meanwhile, back in California they uncorked the Wine Country's best bubbly. Imagine – the most profitable venture deal in history. They raised a cheer, drank a sip and then went right back to work. Hell, they were used to it by now. While

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