On the back end, software programming tools and Internet-based services make it easy to launch new global software-powered start-ups in many industries - without the need to invest in new infrastructure and train new employees.

One of the advantages of moving quickly is if you do something wrong you can change it. What technologies tend to do is they tend to make a lot of mistakes... but then we go back and aggressively attack those mistakes - and fix them. And you usually recover pretty quickly.

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'

A lot of things you want to do as part of daily life can now be done over the Internet.

The gulf between what the press and many regular people believe Bitcoin is, and what a growing critical mass of technologists believe Bitcoin is, remains enormous.

Technology is like water; it wants to find its level. So if you hook up your computer to a billion other computers, it just makes sense that a tremendous share of the resources you want to use - not only text or media but processing power too - will be located remotely.

Whatever you're selling, storage or networking or security, you're going head to head with the incumbent players.