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" 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. "

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" The Web is going to capture an increasing share of people's attention, and billions of dollars are going to flow in. What Web 2.0 is about is harnessing those dollars in highly leverageable ways. "

Fred Wilson

Flow

People

Capture

" Internet and mobile product development cycles are measured in months, not years. And the capital required to get a product built and into the market is less than $1 million. And the returns, when things work out, can be enormous. "

" 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. "

" 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. "

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

" Customers are a great way to finance a business for many reasons. First, customer financing is typically non dilutive. They want something from you other than equity in your business. Customers also help you fit your product to the market. And customers will help debug and improve the quality of the product. "

" 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

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

" Foursquare's adoption of a game dynamic when it launched is a particularly clever implementation of a social hook. "

" Games are the most social of all things on the web. "

" Facebook is not an unstoppable juggernaut. There are a lot of other things people can do on the web. "

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

" Start-ups should be hunch-driven early on and data-driven as they scale. "

" Not only do you have to put yourself in harms way in service of your country, you have to leave your families at home. It is a great sacrifice. "

" When my dad was in Vietnam, we lost a parent for a year. Thank God we didn't lose a parent for good. "

" 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. "

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

" Building product is not about having a large team to manage. It is about having a small team with the right people on it. "

" I think 'crazy' is a compliment. I think you make money with people who are crazy. "

" 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. "

" 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. "

" The companies that do the best job on managing a user's privacy will be the companies that ultimately are the most successful. "

" I'm a free speech bigot. I don't like censorship; I just don't think it's a good thing. "

" 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

" Venture capital is about capturing the value between the startup phase and the public company phase. "

" I generally blog between 5:30 A.M. and 7 A.M. I will from time to time add something during the day, but for the most part blogging is an early morning activity for me. "

" Board meetings should not be for the benefit of the board. They should be for the benefit of the CEO and the senior team. "

" I don't like to talk about myself. I like to talk about stuff that's happening, stuff that's going to happen, and the people who are going to make it happen. "

" 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. "

" 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. "