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.

Nothing will replace good journalism.

Every founder has to delude themselves into thinking, "Yes, it's going to be big. It's going to take over the world."

Having that kind of endorsement and having Paul Graham's readership coming to your site and contributing to it and building the foundation of the community was just a really invaluable way to start Reddit.

The great thing about the Internet is, it's the freest marketplace of ideas that there is.

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.

I try to help founders as much as I can, but so many of us we won't even take meetings with people who still just have an idea, because everyone has an idea.