Kleiner Perkins Caufield & Byers kicked out partner Russ Siegelman, according to a trusted source. The former Microsoft employee, who once reported directly to Bill Gates, won't be part of KPCB's next fund. Was the bigshot VC firm sick of seeing its property Friendster languish under Siegelman's partnership? Or was he just bumped out to make room for another hotshot?
Friendster isn't Siegelman's first hot product. At Microsoft in the 90s, he was employee #1 of the MSN division (which, granted, is already dying a decade later). Then he launched the snappy magazine Slate (which was hemorraging money until its sale to the Washington Post).
So if our source is right, the burnout master will be off Friendster's board and job-hunting soon. Watch for him moving into biotech, energy, or mobile apps.