Can we imagine the United States without electricity? No, that would be pretty hard. Likewise, we can't really imagine being without an open Internet. The cost would be so grave, so serious.

The best part of being an angel investor is seeing these kids coming up with companies that get way more traffic than Reddit had when we sold it. I think, 'Are you kidding me? They're just kids, and they've done so much.

Hundreds of these companies I've seen since the beginning stages - including Dropbox and Airbnb - one of them has actually been crushed by an incumbent. The Googles, the Twitters, the Facebooks, they might be someone to acquire you, which is not necessarily a bad position to be in.

Do not be scared of the incumbents.

Raise $500 for a thing you care about because you actually get the experience of taking an idea and actually doing it. There are fewer and fewer excuses not to.

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.

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