Facebook’s top lawyer, Ted Ullyot is forsaking the social network that gave social networking its cache, and joins a venture capital firm to focus on regulatory affairs and policy.
Sounds interesting, but is Ted Ullyot really tired of joining a company like Facebook that had a mere 100 million users when he joined in 2008, seeing it eclipse the magic billion in 2012? Or is he just seeking more challenges in the new venture space dealing with companies like bitcoin and drone outfits that face all manner of legal challenges.
He is, after all, a lawyer. Just one focused on cutting edge tech stuff.
Social networking is so passé. Ted Ullyot will now deal with legal minefields like bitcoin, drones and ride-sharing.
Fortune magazine report:
“I think a lot of the uncertain legal and regulatory issues we faced in the earlier days at Facebook — explaining the business to people in DC and in Brussels and state AGs — made for the most exciting and interesting work there for me,” Ullyot says. “When I was leaving Facebook, which by then was pretty stable, I thought it would be nice to work again with companies that face similar issues.”
At Andreessen Horowitz, Ullyot will have plenty to keep him occupied. The VC firm’s portfolio is full of legal minefields, including ride-sharing (Lyft), bitcoin (Coinbase) and drones (Airware).
He isn’t expected to parachute into portfolio companies — nor will be register as a lobbyist — but rather will serve as an outside advisor.
Prior to joining Facebook, Ullyot’s jobs included law clerk to U.S. Supreme Court Justice Antonin Scalia and as chief of staff in the U.S. Justice Department.
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