Most of the big breakthrough technologies/companies seem crazy at first: PCs, the internet, Bitcoin, Airbnb, Uber, 140 characters.. It has to be a radical product. It has to be something where, when people look at it, at first they say, ‘I don’t get it, I don’t understand it. I think it’s too weird, I think it’s too unusual.’

At a certain point in your career - I mean, part of the answer is a personal answer, which is that at a certain point in your career, it becomes more satisfying to help entrepreneurs than to be one.

The most important thing is to get on the right horse.

The smartphone revolution is under-hyped, more people have access to phones than access to running water. We've never had anything like this before since the beginning of the planet.

It's an old - and true - cliche that VCs rarely actually say 'no' - more often they say 'maybe', or 'not right now', or 'my partners aren't sure', or 'that's interesting, let me think about it'

My goal is not to fail fast. My goal is to succeed over the long run. They are not the same thing.

Perhaps the single most dramatic example of this phenomenon of software eating a traditional business is the suicide of Borders and corresponding rise of Amazon