When I talk to entrepreneurs today, I feel like the grandfather who was in the Civil War.

We call it the 'Rule of Crappy People'. Bad managers hire very, very bad employees, because they're threatened by anybody who is anywhere near as good as they are.

The Internet has always been, and always will be, a magic box.

Health care and education, in my view, are next up for fundamental software-based transformation.

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.

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'

Smart tech investor thinks about: a) future product roadmap, b) bottoms-up market size & growth, c) talent and skill of team. Essentially you are valuing things that have not yet happened, and the likelihood of the CEO and team being able to make them happen. Finance people find this appalling, but investors who do this well can make a lot of money.