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

What do you get when you cross a herd of sheep with a herd of lemmings? A herd of venture capitalists.

It's quite possible for an executive to hit her goal for the quarter by ignoring the future.

In all the difficult decisions that I made through the course of running Loudcloud and Opsware, I never once felt brave. In fact, I often felt scared to death. I never lost those feelings, but after much practice, I learned to ignore them. That learning process might also be called the courage development process.

As a company grows, communication becomes its biggest challenge.

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

Your employees know each other better than they know you.