When I'm raising money, this fundraising, I'm thinking about the next fundraising. I'm thinking how I'm set up for it.

During normal times or boom times, there are some parts of the business that are going to so well, that that can cover for weakness and other parts of the business. What happens during recessions, is you have less windfalls just helping you cover mistakes. You have to be more careful about not making mistakes.

Part of the reason we like democracy is it's the portfolio of decades, which is to say you don't also get the disastrous dictator who completely destroys a society, engages you in wars and so forth.

Companies hire a lot during boom times because they're trying to adequately accelerate into the future.

What I think Peter Thiel imagines is that Donald Trump has a policy, that Trump has an idea of what to do. haven't heard any of those ideas. All I hear is sloganeering, vitriol, personal attacks.

One of the ways they run forward is by viewing the thing they’re doing as something that’s going to be the whole world.

When you have an idea, a classic entrepreneurial impulse is to hold the idea close to you and not tell people and that's almost always a mistake.