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Although Tananbaum was strategically invited to join Burning Mans board and thereby help shape the nonprofit that organizes the annual event his resignation probably isnt a surprise for his cohorts, some of whom have publicly downplayed the festivals class warfare issues. Whoops! Maybe the folks who were paid the most would say yes.". Foresite Capital Fund III, a $450 million fund, was closed in July 2015. "It all depend on who you spoke to I suppose. Jim has been a lead financier and thought partner for some of the most impactful and fastest growth companies of their generation including: 10x Genomics, Amerigroup (NASDAQ: ANTM), and Jazz Pharmaceuticals (NASDAQ: JAZZ). Jim was a math and electrical engineering/computer science major at Yale and received his M.D. New Paradigm for Understanding Health and Disease The SPAC, which raised $100 million, was led by Rajiv Shukla, who led an earlier SPAC which merged with DermTech Inc. in 2019. Tananbaum responded to Lillie in his letter published in December. Tananbaum, a contemporary art collector who resembles the actor Bob Saget, grew up on Manhattans Upper East Side and graduated from Yale and Harvard, where he earned both an M.D. The girls were all kind of looked at as though we were going to be a part of that., Lillies Facebook tell-all sparked outrage among Burners who resisted what they saw as the festivals takeover by wealthy moguls who treated Black Rock like their personal playground. (function (w, d, s, o, f, js, fjs) { [7][8][6] In 2014, Foresite Capital closed Foresite Capital Fund II, a $300 million fund. Tananbaums last outing with a SPAC resulted in a successful merger with Gemini Therapeutics in the fall of 2020. ideamensch is an interview platform for entrepreneurs, makers, and doers. I believe the biggest sin is to not invest in the big returning companies because of fear of losing. This is why I always think critically about where the puck is going and who are the best people to synergize with my organizational expertise when the puck gets there. In a December 2014 letter that he published online, Tananbaum said that he decided to join the board because he was "passionate about the impact Burning Man culture can have on the world," and because he felt his professional experience was valuable to the organization given its new nonprofit status. Jim Tananbaum Gemini finally hit the Nasdaq earlier this month and is currently trading at $12.95 per share. Jim Tananbaum, who joined the Burning Man Project Board of Directors in April last year, was featured in a February article by Felix Gillette called The Billionaires at Burning Man. Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Today, Renzela is estimated to produce close to $1 billion in annual revenue, 22 years after its launch. 10. Jim Tananbaum While the exact reasons for Tananbaum's resignation were not disclosed Thursday, the criticism that lead to the article in Bloomberg in February had been palpable among Burners for months after Beth Lillie, a woman from Los Angeles, recounted her experience in a September post online about working as a paid "sherpa" inside Tananbaum's camp. Despite these roadblocks, I put my nose down every day in order to get my new business off the ground. The fact that everyone told me that I had to set it up like other venture partnerships led me to make substantial compromises. Master of Business Administration, Harvard Business School; Medical Doctor, Harvard University; Master of Science, Massachusetts Institute of Technology; Bachelor of Arts/Science, Yale University.