As an investor, what we're not looking for is 'oh this is a cool app,' it's 'is this something that can become a big business?' You need to find those that can become real businesses.

Skype is easy enough to use so that people don't need to be tech savvy - a lot of users just want to communicate with their friends and family, and they find this is the easiest, cheapest way.

Today, over one million people now make their living on eBay, which is astounding.

And the VCR did the same thing: the movie industry thought nobody would ever watch movies any more.

With our work at Kazaa, we began seeing growing broadband connections and more powerful computers and more streaming multimedia, and we saw that the traditional way of communicating by phone no longer made a lot of sense.

Surround yourself with smart, dedicated people - to build something isn't a one-man show. It's more important to have smart people who really believe in what you're doing than really experienced people who may not share your dream.

If you could utilize the resources of the end users' computers, you could do things much more efficiently.