Franklin Pitcher Johnson Jr.: Difference between revisions
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{{More citations needed|date=November 2019}}[[File:Pitch johnson (14852819467).jpg|thumb|Pitch Johnson (2014)]] |
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| name = Franklin Pitcher Johnson Jr. |
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| image = Pitch johnson (14852819467).jpg |
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| ⚫ | '''Franklin Pitcher Johnson Jr.''', or '''Pitch Johnson''', (born 1928 in [[Quincy, Illinois]]) is |
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| caption = Johnson Jr. in 2014 |
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| birth_date = {{birth year and age|1928}} |
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| birth_place = [[Quincy, Illinois|Quincy]], [[Illinois]], U.S. |
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| education = {{Plainlist| |
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* [[Palo Alto High School]] |
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* [[Stanford University]] (1946–50) |
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* [[Harvard Business School]] (1950–52) |
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}} |
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| alma_mater = |
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| occupation = {{hlist|Venture capitalist|investor|lecturer}} |
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| net_worth = |
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| known_for = Founder of Asset Management Company |
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| years_active = 1962–present |
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| title = |
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| boards = |
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| spouse = Catherine Johnson |
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| children = 4 |
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| father = [[Pitch Johnson]] |
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| mother = |
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}} |
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| ⚫ | '''Franklin Pitcher Johnson Jr.''', or '''Pitch Johnson''', (born 1928 in [[Quincy, Illinois]]) is an American venture capitalist and founder of multiple companies.<ref name="amiguet">{{citation |title= Franklin Pitcher Johnson jr., creador de empresas, Amgen, Tandem, Teradyne |work= [[La Vanguardia]] |author= Lluís Amiguet |page= 80 |date= 30 September 2010 |language= Spanish }}</ref><ref name="stanford">{{citation |title= 2009 Technology Symposium at Stanford. Pitch Johnson, Founder, Asset Management Company |accessdate= 2010-09-30 |url= http://www.usrts.org/stanford/live/default.asp?menuid=11490#Pitch%20Johnson |archive-url= https://web.archive.org/web/20100423161439/http://www.usrts.org/stanford/live/default.asp?menuid=11490#Pitch%20Johnson |archive-date= 2010-04-23 |url-status= dead }}</ref><ref name="stanford1"/> |
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== Personal life == |
== Personal life == |
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Franklin Pitcher Johnson Jr. is the son of [[Pitch Johnson|Franklin Pitcher "Pitch" Johnson]], an Olympic |
Franklin Pitcher Johnson Jr. was born in 1928 in [[Quincy, Illinois]] and is the son of [[Pitch Johnson|Franklin Pitcher "Pitch" Johnson]], an Olympic [[track and field]] athlete and college coach. When he was 12 years old his family moved to [[Palo Alto, California]]. He studied at the [[Palo Alto High School]] where he ran on the track team. According to Johnson Jr., he was not as good at running as his father. Despite that, according to him, he has learned a lot of things from his father, "My dad taught me to shake hands with my opponents after the race, win or lose."<ref name="hbs biography">{{cite web|url=https://www.alumni.hbs.edu/stories/Pages/story-bulletin.aspx?num=11|title=Franklin P. "Pitch" Johnson Jr., MBA 1952|date=January 1, 2012|accessdate=May 11, 2020}}</ref> |
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Johnson Jr. studied [[mechanical engineering]] at [[Stanford University]] (1946–50).<ref name="amiguet" /> After attending [[Harvard Business School]] (1950–52) he joined the [[US Air Force]] (1952–54) as an aircraft maintenance officer and worked in the [[Inland Steel Company]]'s Indiana Harbor Works.<ref name="hbs biography"/> |
Johnson Jr. studied [[mechanical engineering]] at [[Stanford University]] (1946–50).<ref name="amiguet" /> After attending [[Harvard Business School]] (1950–52) he joined the [[US Air Force]] (1952–54) as an aircraft maintenance officer and worked in the [[Inland Steel Company]]'s Indiana Harbor Works.<ref name="hbs biography"/> |
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He has a wife Catherine, three sons, and one daughter. He describes himself as an [[Episcopal Church (United States)|Episcopalian]] and a [[Republican Party (United States)|Republican]].<ref name="amiguet" /> |
He has a wife Catherine, three sons, and one daughter. He describes himself as an [[Episcopal Church (United States)|Episcopalian]] and a [[Republican Party (United States)|Republican]].<ref name="amiguet" /> |
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=== Venture capitalist === |
=== Venture capitalist === |
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The US Congress passed a law in 1958 to foment the creation of [[venture capital]] under which the government would lend private capital.<ref name="amiguet" /> Johnson and his friend, Bill Draper, decided to co-found a venture capital company in [[Palo Alto]]. With a combination of savings and family loans, they formed Draper and Johnson Investment Company (D+J) in 1962. Johnson then took courses at Stanford at age 35 to study [[molecular biology]] and [[computer science]]. These studies were later useful for his investments in [[biotechnology]] and [[Informatics (academic field)|informatics]]. |
The US Congress passed a law in 1958 to foment the creation of [[venture capital]] under which the government would lend private capital.<ref name="amiguet" /> Johnson and his friend, [[William Henry Draper III|Bill Draper]], decided to co-found a venture capital company in [[Palo Alto]].<ref name="hbs biography"/> With a combination of savings and family loans, they formed Draper and Johnson Investment Company (D+J) in 1962.<ref>{{cite news|url=https://www.inc.com/magazine/20101201/inside-the-mind-of-an-investor.html|title=Inside the Mind of an Investor|work=[[Inc. (magazine)|Inc]]|author=Leigh Buchanan|accessdate=May 12, 2020}}</ref> Johnson then took courses at Stanford at age 35 to study [[molecular biology]] and [[computer science]]. These studies were later useful for his investments in [[biotechnology]] and [[Informatics (academic field)|informatics]]. According to him, being "a local guy" has helped him since he knew many local entrepreneurs, lawyers, and other professionals and was easier for him to "check out" potential business partners.<ref name="amiguet" /> |
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In 1965 he founded a venture capital company, Asset Management Company, which is still in operation.<ref name="stanford" /> |
In 1965 he founded a venture capital company, Asset Management Company, which is still in operation.<ref name="stanford" /> Apart from that, he has also helped found other companies including [[Amgen]], [[Biogen Idec]] and [[Tandem]].<ref name="amiguet" /> He said that as a rough estimate, of every 10 companies that he helped fund, one would return 20 or more times the investment, 3 or 4 doubled it, and the rest didn't lose nor win money, and they had to be sold, sometimes with losses and sometimes ending even.<ref name="amiguet" /> |
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He helped found companies including [[Amgen]], [[Biogen Idec]] and [[Tandem]].<ref name="amiguet" /> He said that as a rough estimate, of every 10 companies that he helped find, one would return 20 or more times the investment, 3 or 4 doubled it, and the rest didn't lose nor win money, and they had to be sold, sometimes with losses and sometimes ending even.<ref name="amiguet" /> Some don't succeed or fail and keep going: he calls them the "living dead." |
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=== Business leader and educator === |
=== Business leader and educator === |
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| ⚫ | He was |
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| ⚫ | He was director of the National Venture Capital Association and of the Western Association of Venture Capitalists, and also a trustee of the [[Foothill–De Anza Community College District]] for 12 years.<ref name="stanford" /> He taught a class in [[entrepreneurship]] and venture capital for 12 years at [[The Stanford Graduate School of Business]], beginning in 1979 and he remained active in the faculty through 2009.<ref name="stanford" /><ref name="stanford1">{{cite web|url=https://www.gsb.stanford.edu/faculty-research/faculty/franklin-pitch-johnson|title=Franklin 'Pitch' Johnson |accessdate=2020-05-12}}</ref> During his period of teaching at the Stanford Graduate School of Business Johnson gave a paper "The Entrepreneurial Climate" to the American Chamber of Commerce in Paris in 1982. The paper was published by Harvard Business School and the phrase "The Entrepreneurial Climate" became used in academic and government circles. |
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He is a member of the board of international advisers to the IESE Business School in Barcelona. |
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Since 1990, Johnson has been an advisor to various [[eastern Europe]]an countries. Collaborating alongside the [[AMRO Bank|Amro Bank of the Netherlands]], the [[European Bank for Reconstruction and Development]] (EBRD), and Polish, Czech and Slovak entrepreneurs and venture managers he aided in forming a venture investment company called European Renaissance Capital. Its goal has been to invest in and help new companies in Poland, Czechia, and Slovakia. Additionally, he has been involved in the creating of a buy-out fund in Romania and venture capital funds in Russia, Norway, and New Zealand. He was a member of the board of international advisers to the IESE Business School in Barcelona.<ref name="stanford1"/> |
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The Columbia Business School has a position named ''Franklin Pitcher Johnson, Jr. Professor of Finance and Economics'', which was donated by his friend, [[Lionel Pincus]]. |
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==References== |
==References== |
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{{ |
{{Reflist|30em}} |
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{{Authority control}} |
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{{DEFAULTSORT:Johnson, Franklin}} |
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[[Category:Businesspeople from California]] |
[[Category:Businesspeople from California]] |
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[[Category:Stanford University alumni]] |
[[Category:Stanford University alumni]] |
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[[Category:American venture capitalists]] |
[[Category:American venture capitalists]] |
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[[Category:Living people]] |
[[Category:Living people]] |
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[[Category: |
[[Category:1928 births]] |
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[[Category:Episcopalians from Illinois]] |
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Latest revision as of 20:05, 7 December 2024
Franklin Pitcher Johnson Jr. | |
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.jpg) Johnson Jr. in 2014 | |
| Born | 1928 (age 95–96) |
| Education |
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| Occupations |
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| Years active | 1962–present |
| Known for | Founder of Asset Management Company |
| Spouse | Catherine Johnson |
| Children | 4 |
| Father | Pitch Johnson |
Franklin Pitcher Johnson Jr., or Pitch Johnson, (born 1928 in Quincy, Illinois) is an American venture capitalist and founder of multiple companies.[1][2][3]
Personal life
[edit]Franklin Pitcher Johnson Jr. was born in 1928 in Quincy, Illinois and is the son of Franklin Pitcher "Pitch" Johnson, an Olympic track and field athlete and college coach. When he was 12 years old his family moved to Palo Alto, California. He studied at the Palo Alto High School where he ran on the track team. According to Johnson Jr., he was not as good at running as his father. Despite that, according to him, he has learned a lot of things from his father, "My dad taught me to shake hands with my opponents after the race, win or lose."[4]
Johnson Jr. studied mechanical engineering at Stanford University (1946–50).[1] After attending Harvard Business School (1950–52) he joined the US Air Force (1952–54) as an aircraft maintenance officer and worked in the Inland Steel Company's Indiana Harbor Works.[4]
He has a wife Catherine, three sons, and one daughter. He describes himself as an Episcopalian and a Republican.[1]
Career
[edit]Venture capitalist
[edit]The US Congress passed a law in 1958 to foment the creation of venture capital under which the government would lend private capital.[1] Johnson and his friend, Bill Draper, decided to co-found a venture capital company in Palo Alto.[4] With a combination of savings and family loans, they formed Draper and Johnson Investment Company (D+J) in 1962.[5] Johnson then took courses at Stanford at age 35 to study molecular biology and computer science. These studies were later useful for his investments in biotechnology and informatics. According to him, being "a local guy" has helped him since he knew many local entrepreneurs, lawyers, and other professionals and was easier for him to "check out" potential business partners.[1]
In 1965 he founded a venture capital company, Asset Management Company, which is still in operation.[2] Apart from that, he has also helped found other companies including Amgen, Biogen Idec and Tandem.[1] He said that as a rough estimate, of every 10 companies that he helped fund, one would return 20 or more times the investment, 3 or 4 doubled it, and the rest didn't lose nor win money, and they had to be sold, sometimes with losses and sometimes ending even.[1]
Business leader and educator
[edit]He was director of the National Venture Capital Association and of the Western Association of Venture Capitalists, and also a trustee of the Foothill–De Anza Community College District for 12 years.[2] He taught a class in entrepreneurship and venture capital for 12 years at The Stanford Graduate School of Business, beginning in 1979 and he remained active in the faculty through 2009.[2][3] During his period of teaching at the Stanford Graduate School of Business Johnson gave a paper "The Entrepreneurial Climate" to the American Chamber of Commerce in Paris in 1982. The paper was published by Harvard Business School and the phrase "The Entrepreneurial Climate" became used in academic and government circles.
Since 1990, Johnson has been an advisor to various eastern European countries. Collaborating alongside the Amro Bank of the Netherlands, the European Bank for Reconstruction and Development (EBRD), and Polish, Czech and Slovak entrepreneurs and venture managers he aided in forming a venture investment company called European Renaissance Capital. Its goal has been to invest in and help new companies in Poland, Czechia, and Slovakia. Additionally, he has been involved in the creating of a buy-out fund in Romania and venture capital funds in Russia, Norway, and New Zealand. He was a member of the board of international advisers to the IESE Business School in Barcelona.[3]
References
[edit]- ^ a b c d e f g Lluís Amiguet (30 September 2010), "Franklin Pitcher Johnson jr., creador de empresas, Amgen, Tandem, Teradyne", La Vanguardia (in Spanish), p. 80
- ^ a b c d 2009 Technology Symposium at Stanford. Pitch Johnson, Founder, Asset Management Company, archived from the original on 2010-04-23, retrieved 2010-09-30
- ^ a b c "Franklin 'Pitch' Johnson". Retrieved 2020-05-12.
- ^ a b c "Franklin P. "Pitch" Johnson Jr., MBA 1952". January 1, 2012. Retrieved May 11, 2020.
- ^ Leigh Buchanan. "Inside the Mind of an Investor". Inc. Retrieved May 12, 2020.
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