Investing in management means building communication systems, business processes, feedback, and routines that let you scale the business and team as efficiently as possible.

Ideas that most people derided as ridiculous have produced the best outcomes. Don't do the obvious thing.

Don't try to solve the entire problem on day one.

Profiles aren't journalism.

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

There are so many startups out there raising money. I don't think this is a bad thing. It's a good thing. Entrepreneurship is in vogue. Innovators are innovating. Makers are making.

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