The stage of investing that I do is seed stage, so it's really early. Here's a pair of founders who maybe have a prototype. They have a little bit of traction, maybe one employee, tops. At that stage, you really, really can only evaluate a company based on those founders and what they've been able to build. It's very, very team driven.

There was a clear lesson here — and that was that the Internet loves Mister Splashy Pants.

It takes discipline not to let social media steal your time.

You can throw - and we've seen plenty of these kinds of companies - millions of dollars in advertising for a website or a service, and in the end if it's not useful no one's going to use it.

Nothing will replace good journalism.

You know that Estonia, based largely on how successful Skype was, built by Estonian developers, that was a tenth of the entire country's GDP when eBay bought it. That was like a decade ago, it was f****** Estonia, they were behind the Iron Curtain two decades earlier. They're now pushing for K-12 education in computer science in public schools. They've gotten the message. They know how much value that can bring.

There is a much bigger issue with student loan rates, the cost of tuition; those are some huge problems that need to be resolved.