The more evident it is that a certain company is going to become the market leader in a big market space, then the higher the valuation goes because the risk has been dramatically reduced.

You've got to figure out how you're going to come in and significantly impact and redefine a market such that you become a market share leader in it.

Starting a company is like going to war. You can't do anything else but be fully engaged. You have to be insanely, passionately, nothing-can-stop-me committed.

You need to understand the market, know how you can differentiate yourself in it, and grasp the price and the functional differentiation competitive points that are going to allow you to be disruptive.

I'm only going to make investments with people that I'd want to spend time with anyway.

When the market goes down dramatically, you're going to have more margin calls, and this is definitely one of the higher days,