master's degree, and they allowed him to do so. Thanks to the graduate courses he took, he realized that he was particularly interested in two things: organizational development, and the commercialization of innovative ideas. He graduated from MIT in 1970, with an undergraduate degree in chemistry and a Master of Science degree in management. Early career After graduating from MIT, Swanson took a job at Citibank, where he managed a venture investment group. His performance pleased his supervisors, and he and a colleague were chosen to open a San Francisco office for Citicorp Venture Capital. However, the new Citicorp investments were not doing well. One particular failure, which Swanson later believed to have been a lucky break, was the bankruptcy of Antex, a science based company that Citicorp had invested in. He worked with Eugene Kleiner, another Citicorp executive, to attempt to get some money out of the company's bankruptcy. Eugene Kleiner was the cofounder of the venture capital partnership Kleiner & Perkins. Swanson left Citicorp and joined Kleiner & Perkins in 1974, under the recommendation of Eugene Kleiner himself. As an associate, Swanson spent a lot of time and effort attempting to convince the heads of the science company Cetus, one which Kleiner and Perkins had invested in, to pursue genetic recombination projects. His interest in the technology had been piqued in a lunch with famed scientist and Nobel laureate Donald Glaser. However, the company refused to take on such a risky endeavor, and Kleiner & Perkins parted ways with the company. This falling out was one of the main reasons for the group's decision to advise Swanson to look for another job. Kleiner & Perkins had decided that they would rather work alone, and by the end of 1975, Swanson's position there would be terminated. Beginnings of Genentech A young Swanson now found himself unemployed. Swanson was interviewing almost daily, attempting to find a job. However, he was still fascinated by the potential of recombinant DNA technology, and decided to cold call scientists working on the technology, with the hope that one of them would be interested in commercializing it. One of the scientists he contacted, Herbert Boyer, expressed interest but was hesitant of meeting up with Swanson at first. Boyer was an academic scientist, and was not well versed on the matters of business. Swanson convinced Boyer to meet, for a short time, at his University of