It’s very important for entrepreneurs to be realistic. So if you believe on that first day while you’re writing the business plan that there’s a 70 percent chance that the whole thing will fail, then that kind of relieves the pressure of self-doubt.

One of the huge mistakes people make is that they try to force an interest on themselves. You don't choose your passions; your passions choose you.

We can't be in survival mode. We have to be in growth mode.

I wanted to project myself forward to age 80 and say, ‘OK, I’m looking back on my life. I want to minimise the number of regrets I have.’ And I knew that when I was 80, I was not going to regret having tried this. I was not going to regret trying to participate in this thing called the Internet that I thought was going to be a really big deal. I knew that if I failed, I wouldn’t regret that. But I knew the one thing I might regret is not ever having tried. I knew that that would haunt me every day.

Good ideas will always get funded, so that's not going to be a problem. But you will see that it will be harder and harder for bad ideas to get funded.

Where you are going to spend your time and your energy is one of the most important decisions you get to make in life.

The framework I found which made the decision incredibly easy was what I called — which only a nerd would call — a “regret minimization framework.” So, I wanted to project myself forward to age 80 and say, “Okay, now I’m looking back on my life. I want to have minimized the number of regrets I have.”