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" Facebook, Twitter, and Tumblr are all 'User First, Brands Second' services. The brands are all over these services now. But for the most part, these services didn't do much to bring them. The engaged users did. "

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" If you are successful, you will be cloned. That's life. In fact, it's a sign that you've made it when clones of your website, mobile app, and business start cropping up. "

Fred Wilson

Life

Start

Successful

" The best talent in the venture industry doesn't work in large companies and won't work in large companies. "

" There is a difference between hiring a CEO and turning over control of the business. "

" When people laugh at a company or say, 'This is the stupidest thing I have ever heard,' you are listening. "

" The Internet is a computing platform built on top of core technology. Applied technology is what gets built on top of that: It's Web services. "

" Investing in management means building communication systems, business processes, feedback, and routines that let you scale the business and team as efficiently as possible. "

" So many folks in the venture capital business are sheep that just want to follow the herd. They are momentum investors purchasing highly illiquid investments. That is a recipe for disaster. "

" I'm really interested in the intersection between reputation, identity, and knowledge. "

" Startups are rapidly changing systems. If you use an annual review cycle, you aren't getting feedback at the same pace that you need to adapt and change the business. "

" There are so many startups out there raising money. I don't think this is a bad thing. It's a good thing. Entrepreneurship is in vogue. Innovators are innovating. Makers are making. "

" I believe the mobile OS market will play out very similarly to Windows and Macintosh, with Android in the role of Windows. And so, if you want to be in front of the largest number of users, you need to be on Android. "

" When there were not very many Internet companies, the supply of Internet companies to the market was small and the appetite for them was large. Therefore, if you were in the business of creating Internet companies in 1996-98, you had a market that provided massive demand for that. "

" The more entrepreneurs in the world that are getting their ideas financed, the more great companies there are going to be that we can all invest in. "

" It's not easy for an entrepreneur to find the time to blog. But for those who do it, it is a great tool to communicate with the various stakeholders in their business and build a reputation for thought leadership. "

" Most adults I know start their Internet session at Google, and most kids I know start their Internet session at either Facebook or MySpace. "

" I would like to reiterate that I don't want any profiles of me. I am not newsworthy. "

Fred Wilson

I Am

" I believe Android will be stronger in the developing world than it is in the developed world. "

" All markets have boom and bust cycles, and I think venture capital market has even more exaggerated boom and bust cycles. "

Fred Wilson

Venture Capital

Think

" Certainly anything that is news or opinion needs to be free on the Web, because the Web is this very fluid medium that is very much driven by links and the flow of visitors through a discussion via links. "

" Given New York City's cultural diversity, it has always attracted creative people. "

" Many artists stick to making and hire a manager to focus on their business. Artists that build websites and mobile apps can do that, too. "

" I'm not saying M.B.A.s can't be great entrepreneurs. They can. But you don't need a degree to figure out it's costing you $5,000 per month to run your business, so you need $30,000 to keep it going for six more months. "

" Money is information, like bits. "

" Yahoo is free, it's fast and it's Web-centric. AOL is slow, it costs money and requires proprietary software. "

" Blog-based businesses have lower cost structures and are more 'authentic,' and as a result are drawing larger shares of ad budgets. "

Fred Wilson

Drawing

Cost

" My venture investing career has three phases, all roughly 6-8 years long. The first, at Euclid, was software to Internet. The second, at Flatiron, was Internet to bubble. And the third, at USV, has been web 2 to mobile. I have always used a new firm to denote a new investment phase for me. Throw away the old. Start with the new. "

Fred Wilson

Career

Start

" It's upsetting to me that you have to be a millionaire to invest in your friend's start-up. "

" One of the great things about young entrepreneurs is that they don't know that something can't be done. So they try something that's so audacious and usually end up pulling it off. "

Fred Wilson

Done

End

" Equity capital is expensive. Every time you do a raise, you dilute. "

" If you have a native monetization system where the atomic unit of content is the ad unit, that scales down all the way to a small screen experience. That's why Twitter is performing so well on mobile. "