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It's an old - and true - cliche that VCs rarely actually say 'no' - more often they say 'maybe', or 'not right now', or 'my partners aren't sure', or 'that's interesting, let me think about it'
At a certain point in your career - I mean, part of the answer is a personal answer, which is that at a certain point in your career, it becomes more satisfying to help entrepreneurs than to be one.
I always had the old-school model that I'm going to work for as long as I'm relevant and focus on for-profit activities and someday when I retire I'm going to learn about philanthropy.
The gulf between what the press and many regular people believe Bitcoin is, and what a growing critical mass of technologists believe Bitcoin is, remains enormous.
Out of ten swings at the bat, you get maybe seven strikeouts, two base hits, and if you are lucky, one home run. The base hits and the home runs pay for all the strikeouts
There was a point in the late '90s where all the graduating M.B.A.'s wanted to start companies in Silicon Valley, and for the most part they were not actually qualified to do it.
Practically everyone is going to have a general purpose computer in their pocket, it's so easy to underestimate that, that has got to be the really, really big one.
People tend to think of the web as a way to get information or perhaps as a place to carry out e-commerce. But really, the web is about accessing applications.
When I started Netscape I was brand new out of college and all the aspects of building a business, like balance sheets and hiring people, were new to me.
If there's been a crisis in a market, you don't tend to have a new crisis in that market until the people who went through the last crisis aren't in the system anymore.
Tech stocks are trading at a 30-year-low when compared to the multiples of industrials (companies). Its the weirdest bubble when everyone hates everything.
Perhaps the single most dramatic example of this phenomenon of software eating a traditional business is the suicide of Borders and corresponding rise of Amazon
Today's leading real-world retailer, Wal-Mart, uses software to power its logistics and distribution capabilities, which it has used to crush its competition.
The spread of computers and the Internet will put jobs in two categories. People who tell computers what to do, and people who are told by computers what to do.
And once you get instantaneous communication with everybody, you have economic activity that's far more advanced, far more liquid, far more distributed than ever before.