When I see people laughing at ideas and companies we have backed, I smile. It means we are going to make a lot of money on that investment.

The strategy of Tumblr is very elegant.. The atomic unit of user experience is the same as the ads.

I think 'crazy' is a compliment. I think you make money with people who are crazy.

Given New York City's cultural diversity, it has always attracted creative people.

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

Building product is not about having a large team to manage. It is about having a small team with the right people on it.

Certainly anything that is news or opinion needs to be free on the Web, because the Web is this very fluid medium that is very much driven by links and the flow of visitors through a discussion via links.