You have to find a small market in which you can get a monopoly and then quickly expand.

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.

You're either not hiring at all or it's probably your single biggest block of time.

You need this sort of a tailwind to make a startup successful.

You want an idea that not many other people are working on, and it's okay if it doesn't sound big at first.

The tenth social network, and limited only to college students with no money, also terrible. Myspace had won.

You should be able to describe any employee as an animal at what they do.