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.

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

I think the one advantage to a failed - recovering, but a pretty broken - economy, and a lot of broken promises, is that we've pulled the veils from our eyes way earlier than most people do, and realize "Hey, you know what, maybe I should try do this thing that I really care about, and why not spend the time now during my best years to get into knitting, or coding, or swamp boat sailing." And there's this resource called the Internet that's going to provide you with a stage and a library for all of those things.

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.

I hate phone calls so I believe in a telephone armistice. To me, the idea of calling someone unprompted is basically saying, 'Hey, stop whatever you're doing and talk to me right now.

Entrepreneur is just French for 'has ideas, does them'.

I guess if you include contractors that are six or seven people working on reddit, but when we got acquired there were basically three and then in the years since, we've added three more developer hires full time, and a community manger. But the site is still remarkably small.