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

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" People already love to play casual games. But when you take a casual game and stick it inside a social network, it becomes way more exciting. "

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

" When I see people laughing at ideas and companies we have backed, I smile. It means we are going to make a lot of money on that investment. "

" 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. "

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

" 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. "

" 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. "

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

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

" 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. "

" Being an entrepreneur is hard. Having supportive and caring investors helps. "

" 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. "

" 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. "

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

" Twitter wasn't planned. It just happened. "

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

Venture Capital

" 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. "

" Venture capitalists are professional money managers. We are provided capital to invest as long as we can return it to our investors with a strong return in a reasonable amount of time. A strong return is three times cash on cash. A reasonable amount of time is ten years max. "

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

" Profiles aren't journalism. "

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

" 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. "

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

" 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. "

" The most common way customer financing is done is you sell the customer on the product before you've built it or before you've finished it. The customer puts up the money to build the product or finish the product and becomes your first customer. Usually the customer simply wants the product and nothing more. "

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

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

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

" 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. "

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