Fred Wilson

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

Money is information, like bits. ”

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

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. ”

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. ”

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

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. ”

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

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. ”

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. ”