New York's niche is content, and content is becoming more valuable. Just think about what is more valuable: MTV or the cable system that you use to get MTV? Howard Stern or the radio station you use to listen to him? Ultimately, technology becomes a commodity, and content - real, true branded content - becomes more valuable.

Equity capital is expensive. Every time you do a raise, you dilute.

It's not easy for an entrepreneur to find the time to blog. But for those who do it, it is a great tool to communicate with the various stakeholders in their business and build a reputation for thought leadership.

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

Startups are rapidly changing systems. If you use an annual review cycle, you aren't getting feedback at the same pace that you need to adapt and change the business.

The Internet is a computing platform built on top of core technology. Applied technology is what gets built on top of that: It's Web services.

Blog-based businesses have lower cost structures and are more 'authentic,' and as a result are drawing larger shares of ad budgets.