Editor’s note: Ted Schlein is a general partner with Kleiner Perkins Caufield & Byers. Earlier in his career, he brought to market the first anti-virus software for commercial use at Symantec and also served as the founding CEO of Fortify software, now an HP company. 

Building a successful security software company is notoriously hard to get right over the long haul. Computer security is a fast-moving target. You still need anti-virus software, for instance, but it won’t necessarily keep you safe. The same is true for firewalls, and malware detection, and spam blockers, and various other security measures. For better or worse, there is never-ending opportunity here, as the good guys race to keep up with the bad guys.

The tricky part is that over time the bad guys have gotten smarter and the threats more ominous. The stakes keep ratcheting higher. Thirty years ago, we were dealing with…

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