 He joined a Dallas-based venture capital company in 1986.In 1994, Pauken was elected chairman of his state party organization with strong support from Reagan conservatives and social conservatives disenchanted with the so-called "stand-patism" and moderation of the outgoing chairman, Fred Meyer, an ally of former President George H. W. Bush.Pauken won the chairmanship by defeating a last-minute challenge waged by still serving U.S. Representative Joe Barton of Ennis, whose district at the time stretched from the Dallas southern suburbs to Bryan-College Station.