I am sure innovation will blossom around the world, given that the Internet and mobile platforms enable innovators anywhere in the world to reach a global market with ease.

I think of myself as just another consumer.

Founders should think of their company as a product and build it and shape it with the same passion and care.

It's important to choose initial investors who are not twitchy and rushing for an exit. Wall Street's quarter-by-quarter lens may make the CEO make sub-optimal long-term decisions.

You don't want to be the site that people should use. You want to be the site they can't stop using.

Social enables word of mouth at an unprecedented scale. Its most powerful effect, through reviews and recommendations, is to put product quality and value for money as the key to success in commerce. Social brings a level of transparency that prevents marketers from advertising their way to success without underlying product quality.

Money was invented for a reason. We've seen people try to use beans, etc. and it doesn't work.