You have to let your team get all the credit for all the good stuff that happens, and you take responsibility for the bad stuff.

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.

By the way, that's my number one piece of advice if you're going to join a startup: pick a rocket ship.

One of the keys to focus, and why I said cofounders that aren't friends really struggle, is that you can't be focused without good communication.

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.

The best people know that they should join a rocketship.

Wait to start a startup until you come up with an idea that you feel compelled to explore.