Silicon Valley’s Newest Passion: Ultimate Frisbee

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Feb. 28 (Bloomberg) –- Lightspeed Venture Partner Peter Nieh discusses the sport of ultimate frisbee, how it’s becoming extremely popular in Silicon Valley and his company’s sponsorship of the San Jose Spiders team. He speaks to Trish Regan and Julie Hyman on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

About ultimate frisbee in a long time.

I guess it is a hot sport in silicon valley.

With you guys sponsoring it, what is the visibility of the sport and what do you hope to gain by sponsorship?

Ultimate is a fast growing sport.

There is over 5 million people in the u.s. but play.

That is more than our players of crowd -- rugby and lacrosse combined.

All ages from high school up to people like me who are heading towards 50 years old, a lot of passion around the sport.

In regards to why ultimate and the spiders, it turns out that at least the ultimate teams out here, about half of the people in ultimate work in high-tech.

We thought it was a great way to get our name out there into the high-tech world.

You mentioned the names like the founder of google and whatsapp, solar city who is the nephew of elon musk, the founder of tesla and space x. there is a strong community of high-tech people out here and how it overlaps with ultimate frisbee.

Is there something about the sport that makes it more appealing than lacrosse or rugby or soccer or football or basketball, etc.? is there something about it intrinsically that is appealing to tech people?

One, it's incredibly dynamic.

There's a lot of change that happens rapidly on the field in that dynamic nature appeals to people in the high-tech industry, given how a dynamic the tech industry is.

You have to be good at strategy and execute extremely well.

You have to play with a lot of passion to win.

All the elements are very appealing to people who work in high-tech.

All these people in high-tech, all playing ultimate frisbee together.

There has been a lot of criticism as of late, specifically from carl icahn, on the ebay paypal front about the incestuous nature of silicon valley and in his particular case he's pointing to the board members that have had investments in what he considers competitors, ebay and paypal.

Knowing all these guys get together and play frisbee together and they are on boards together, is there any truth to the criticism that silicon valley is just too tight a club?

I think the club here is probably too close of a word.

One of the things that is compelling about silicon valley on the strength of silicon valley is because of how open it actually is.

When i look at my silicon valley has thrived, it's because there is a constant influx of folks.

Indian entrepreneurs is an example, who are nonexistent in the valley just 15 or 20 years ago.

Now look at the indian entrepreneurs and the successes they have had in the valley.

Or ukrainians.

Whatsapp.

What do you think of that valuation, $19 billion?

It is mind blowing.

Technology is a lot more pervasive in our lives.

I think the valuations that companies are getting, part of it is well-deserved.

I think we are also perhaps heading into a bubble or certainly in one now.

We are in now or heading into a bubble in tech?

As we look at the leader stage rounds, some of these valuations are really heading up into nosebleed land.

Peter nieh, thanks so much.

We've got to get to breaking news on riverbed tech.

This text has been automatically generated. It may not be 100% accurate.

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