If you have managers reporting to managers in a startup, you will fail.

On the Internet, there are an unlimited number of competitors. Anybody with a Flip camera is your competition. What makes it even worse is that YouTube is willing to subsidize the cost of your bandwidth. So anybody can create and distribute for free basically, but the real cost is marketing. And that's always the big cost - how do you stand out and what's the cost of standing out? And there's no limit to that cost.

When you've got 10,000 people trying to do the same thing, why would you want to be number 10,001?

One thing I learned in the NBA is that the No. 1 job of a general manager is to keep his job. They are only 30 positions where you make millions and hang around with basketball players all day.

Once you have found out what you love to do, there is only one goal: to be the best in the world at it.

If I see a black kid in a hoodie and it's late at night, I'm walking to the other side of the street. And if on that side of the street, there's a guy that has tattoos all over his face, white guy, bald head, tattoos everywhere, I'm walking back to the other side of the street, and the list goes on of stereotypes that we all live up to and are fearful of.

Never follow your dreams. Follow your effort. It's not about what you can dream of. That's easy. It's about whether or not it's important enough to you to do the work to be ready to be successful in that business.