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" 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. "

Fred Wilson

Internet

Work

Development

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

" 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. "

" 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. "

" 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. "

" The entire world is now a rival to Silicon Valley. No country, state, region, nor city has a lock on innovation in technology anymore. "

" Profiles aren't journalism. "

Fred Wilson

Journalism

Profiles

" Politics and government have been a terrible place to invest; education has been a terrible place to invest, but that is because the entrenched interests make it a terrible place to invest. The way you invest in those sectors is you go against the entrenched interests; you try and disrupt the entrenched interests, not to service them. "

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

" Skyping with your spouse works well enough, but apparently it is hard to get the kids to hang out on Skype for long. "

" 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. "

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

" 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. "

" 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. "

" 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

" We need new medical approaches to preventing and/or curing disease. We need new scientific approaches to generating, storing, and being more efficient with energy. Maybe we need more space exploration. Maybe we need more undersea exploration. "

" The venture business is a bit of an apprenticeship business, so the firm I worked for didn't let me make an investment until I was 30. That was probably a very smart thing. "

Fred Wilson

Smart

Business

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

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

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

" 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. "

" 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. "

" 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 takes great salesmanship to convince a customer to buy something from you that isn't built or isn't finished. "

" 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

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

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

" 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. "

" Marketing is for companies who have sucky products. "

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

Fred Wilson

I Am