Times of economic crises can change what the competitive landscape looks like, because when, for example, you have boom times, capital is easy to come by, growth is easy, sometimes what you focus on is, you know, how to accelerate in the boom. During economic crises, the question is, the companies that come out of, you know, that are sailing through that with the best liquidity, both assets on the balance sheet, making money, ability to grow their businesses, get a disproportionate competitive advantage.

One of the phrases I frequently look for is infinite learning curve.Because each entrepreneurial pattern is to some degree unique and new.

So usually you have to have product distribution as more fundamental than what the actual product is.

Part of what being a great founder is, is being both able to hold the belief, to think about where it is you want to be doing and want to be going, but also be smart enough that you are essentially listening to criticism, negative feedback, competitive entries.

The challenge when you think about product distribution is: how are you competing for potential customers or potential members time?

Social networks do best when they tap into one of the seven deadly sins. Facebook is ego. Zynga is sloth. LinkedIn is greed.

I don't normally think of like most successful moments, because like most entrepreneurs, I tend to think that however how high of a mountain I've climbed, I'm always looking at the next mountain to climb.