Out of ten swings at the bat, you get maybe seven strikeouts, two base hits, and if you are lucky, one home run. The base hits and the home runs pay for all the strikeouts

More and more major businesses and industries are being run on software and delivered as online services - from movies to agriculture to national defense.

There was a point in the late '90s where all the graduating M.B.A.'s wanted to start companies in Silicon Valley, and for the most part they were not actually qualified to do it.

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.

Innovation accelerates and compounds. Each point in front of you is bigger than anything that ever happened.

In a startup, absolutely nothing happens unless you make it happen.

I've been a customer of the top venture capital firms, so I know exactly what they do and don't do.