The role of the board is advice and consent. If the CEO does not lay out a clear strategy and tries to get the board to set one, it will usually end in disaster.

If someone is getting every decision wrong, that's when you need to act, and at that point it'll be painfully aware to everyone.

If it works out, you're going to be working on this for 10 years.

You need unstoppable people. You want people that are just going to get it done.

I prefer to invest in a company that's going after a small but rapidly growing market than a big but slow growing one.

A board member of mine used to say sales fix everything in a startup, and that is really true.

You want an idea that turns into a monopoly. But you can't get a monopoly, in a big market right away; too much competition for that.