Every time you make the hard, correct decision you become a bit more courageous, and every time you make the easy, wrong decision you become a bit more cowardly. If you are CEO, these choices will lead to a courageous or cowardly company.

Volatility and length, that's the value on an option. 10 years on a startup stock, that's a big valuable thing.

In Silicon Valley, when you're a private company, the entrepreneur can do no wrong.

The person they're working with, is going to be the person they'll know more. So if that person leaves, they're going to go - well, should have I left too? What did they get and how does that compare to my deal.

In a company, hundreds of decisions get made, but objectives and goals are thin.

A CEO needs great intelligence and great courage. And I always found my courage was tested more.

I emphasize to C.E.O.s, you have to have a story in the minds of the employees. It's hard to memorize objectives, but it's easy to remember a story.