For startups, SM is now crucial: it has never been cheaper and easier to reach one's customers. Entrepreneurs should thank God for Twitter, Facebook.

Don't ask people to do something you wouldn't.

What you learn in school is the opposite of what happens in the real world. In school, you're always worried about minimums. You have to reach 20 pages or you have to have so many slides or whatever. Then you get out in the real world and you think, 'I have to have a minimum of 20 pages and 50 slides.

Ambitious failure, magnificent failure, is a very good thing.

Just be nice, take genuine interest in the people you meet, and keep in touch with people you like. This will create a group of people who are invested in helping you because they know you and appreciate you.

It's just as valuable to curate content as it is to create it.

Try stuff. I also used to believe that it's better to be smart than lucky because if you're smart you can out-think the competition. I don't believe that anymore-this is not to say that you should strive for a high level of stupidity. My point is that luck is a big part of many successes, so (a) don't get too bummed out when you see a bozo succeed; and (b) luck favors the people who try stuff, not simply think and analyze. As the Chinese say, "One must wait for a long time with your mouth open before a Peking duck flies in your mouth."