Marketing is for companies who have sucky products.

The more entrepreneurs in the world that are getting their ideas financed, the more great companies there are going to be that we can all invest in.

All markets have boom and bust cycles, and I think venture capital market has even more exaggerated boom and bust cycles.

My venture investing career has three phases, all roughly 6-8 years long. The first, at Euclid, was software to Internet. The second, at Flatiron, was Internet to bubble. And the third, at USV, has been web 2 to mobile. I have always used a new firm to denote a new investment phase for me. Throw away the old. Start with the new.

Facebook is not an unstoppable juggernaut. There are a lot of other things people can do on the web.

It's upsetting to me that you have to be a millionaire to invest in your friend's start-up.

I generally blog between 5:30 A.M. and 7 A.M. I will from time to time add something during the day, but for the most part blogging is an early morning activity for me.