Tom Perkins: The Captain Of Capitalism

(CBS)  This story was originally broadcast on Nov. 4, 2007. It was updated on May 30, 2008.

If there were a hall of fame for business tycoons, Tom Perkins would be a first ballot shoo-in. His hands-on engineering skills, combined with his nose for profit, made him the captain of venture capitalism and helped transform Silicon Valley into the money machine of the West. The firm he co-founded, Kleiner Perkins Caufield & Byers, provided start-up capital for companies like AOL, Amazon.com, Netscape, and Google; the list goes on and on.

As correspondent Lesley Stahl first reported last year, he has also been at the center of some corporate boardroom battles at Hewlett-Packard that led to the ouster of one of the most powerful women in business: then-CEO Carly Fiorina. And in 2006 he triggered a confrontation that then brought to light how HP was spying on its own board members and journalists.

By all accounts, Perkins is brilliant, willful and wealthy, lacking in nothing but perhaps a tad of humility.

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Tom Perkins has his own personal mega-yacht, "The Maltese Falcon." She's the world's largest privately-owned sailboat, what one magazine called a "big boatload of ego."

"Somebody has to have it, right?" Perkins says, laughing. "Why not me?"

When Stahl first saw the boat, it was moored off the coast of Italy. The Falcon is also a technological breakthrough. The masts stand 192-feet tall, weigh 25 tons each, and are made of carbon fiber.

"The B-1 bomber's made out of carbon fiber," Perkins explains. "Except for the American Air Force, I purchased the most carbon fiber of anybody ever."

On board, the boat is no less spectacular. On a scale of 1 to 10, the boat is a 12.

"It's your typical football field size yacht, you know," Perkins jokes.

Inside, there are two 1,800-horsepower engines, 11,000 square feet of living space, and his crew of 20 includes a gourmet chef and a team of stewards and stewardesses.

The wheel house-or "captain's bridge"-is command central for the boat's technological wizardry.

Perkins designed the software himself for the computers that make sailing on the Falcon as easy as playing a computer game. You know the wheel a skipper uses to steer a boat? The Falcon's wheel is much smaller than that.

A knob turns the masts, so that the wind blows into the sails at the perfect angle.

Perkins also showed Stahl how to unfurl the boat's 15 sails, a job that would take about 80 deckhands an hour on a traditional sailboat. All it takes on the Falcon is five minutes, and the touch of a screen.

And just like that the sails housed inside hollow, carbon fiber masts began to unfurl-all 26,000 square feet of them. That's over half an acre's worth of sail.

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[roob3]

I enjoyed the show about Mr. Perkins. Hats off to him. What he does with HIS money.... That HE worked for...that he studied for...is HIS business.. besides all that money goes back into the economy. So whats the problem with these crybabies. (maybe jealousy?? tsk tsk) Ms. Stahl questioned him like he should apologize for being rich. Wonder what she does with her $$$$. Way to go Mr. P !

[ericball3]

How is this journalism? The interviewer spends all her time obsessing over exactly how much he paid for his toys and her only question of any substance is simply whether he hates women. I had hoped for a serious interview with insight into the dynamics of the dysfunctional HP Board, not a fluff piece more like "The Lifestyles of the Rich and Famous".

[ericball3]

How is this journalism? The interviewer spends all her time obsessing over exactly how much he paid for his toys and her only question of any substance is simply whether he hates women. I had hoped for a serious interview with insight into the dynamics of the dysfunctional HP Board, not a fluff piece more like "The Lifestyles of the Rich and Famous".

[feelfree4u]

Re: "The Captain Of Capitalism"

If this is accurate, then this man appears to be the pilot of a pirate ship.

[nbsm456]

Tom Perkins studied hard and worked hard to get what he''s got so why can''t he spend it as he wants? Don''t you jealous misfits realize that the multi-millions he spent on that yacht went back into the economy for wages, materials, etc. to build it, plus the wages for dozens of crew required to operate it? How much did you send to Katrina. Myamar or China? So the guy is egocentric, he''s earned it.

[rbar4]

Are you kidding. We just saw this episode. I cannot believe that there was no more news that could have filled this slot than that of a successful misogynist.

[lewiston14]

This always comes up "you should help the planet" Like send everybody a penny. Thats what 200 or 300 milion would get you. no more no less. And where is it written he has the duty to clean up a place like the low lands of Katrina which was a stink hole to begin with. Heck I would be happy with small row boat with an on 2HP motor and a fishing rod. Most of you dont want to save the world you want him to save you. News flash it going to happen so put you pitty putty away and play with it another day

[karmageddon1]

I''ve been watching 60 minutes since 1978 and have never felt compelled to write until now. What kind of shoddy journalism is this? I thought I was watching "Lifestyles of the rich and famous." Why should we be interested in this scumbag?

[lynncs]

This Tom Perkins character is nothing but "White Trash With Money" .... He gets bored with his "toys" and does nothing for people other than his "good ol boys" and destroys other people''s careers.....his association with Rupert Murdoch says much about his character.....The "Values" they talk about are for the "little people" while they are greedy ---- self serving-----and I guess as they are happy with someday being "the richest guys in the cemetery" I find people like this truly despicable.

[rational_1]

Perkins, you are an ******. why don''''t you use your money to help people? There are Katrina victims, there are people living in abject poverty in our country...look at the Gates--they are doing things for humanity with their money--you are puffing up your ego...You are despicble, detestable, and i think you are the personification of evil. Stop using your money to explode your ego and start using it to help people!
Posted by lindacallaha at 11:12 PM : Jun 01, 2008

After getting Genentech off the ground this man has already done more for humanity than 99.999999% of the other people out there. If he never does another good thing for anyone else ever again, he''ll still be massively in the plus column for just the one thing he did with Genentech. So, if he wants to be ostentatious and play with his expensive toys for the rest of his life, more power to him. He deserves it.