You have to put yourself in a position to be lucky.
Roelof Botha
It's important to choose initial investors who are not twitchy and rushing for an exit. Wall Street's quarter-by-quarter lens may make the CEO make sub-optimal long-term decisions.
Social enables word of mouth at an unprecedented scale. Its most powerful effect, through reviews and recommendations, is to put product quality and value for money as the key to success in commerce. Social brings a level of transparency that prevents marketers from advertising their way to success without underlying product quality.
I think of myself as just another consumer.
At Sequoia, we have opened offices in China and India, and we have made a handful of investments in Latin America/Brazil.
I try getting in front of as many opportunities as possible, but in the late '90s, I had no idea that I'd end up being CFO of a technology company. I'd no idea what venture capital was.
Money was invented for a reason. We've seen people try to use beans, etc. and it doesn't work.
If you are in Mountain View, you don't resonate with the needs of urban dwellers. Tumblr couldn't have emerged in Sunnyvale.
I am sure innovation will blossom around the world, given that the Internet and mobile platforms enable innovators anywhere in the world to reach a global market with ease.
Israel has incredible entrepreneurial spirit and a deep bench of technology talent.
You don't want to be the site that people should use. You want to be the site they can't stop using.
