One of the biggest mistakes entrepreneurs make is not understanding the relationship they have with their investors. At times, they confuse VCs with their friends.

The Lean Startup is a process for turning ideas into commercial ventures. Its premise is that startups begin with a series of untested hypotheses. They succeed by getting out of the building, testing those hypotheses and learning by iterating and refining minimal viable products in front of potential customers.

Value Proposition Design is a 'must have' for anyone creating a new venture. It captures the core issues around understanding and finding customer problems and designing and validating potential solutions.

Schools reward their students for a combination of intelligence, perseverance, and hard work - in the classroom and on the playing fields. But these metrics don't help kids understand that great grades are not a pass for a great life.

Just after graduation in 1966, like many of my contemporaries, I applied for research training at the National Institutes of Health. Perhaps because his wife was a poet, Ira Pastan agreed to take me into his laboratory, despite my lack of scientific credentials.

Honestly, I feel you are poisoned if you read too much of the scientific literature because it makes you start thinking like other people. You're better off having a vague sense of what's going on and making your own way.

I'll go out to eat and have a really good lunch and try to shut the phone off, but I can't, really, because the social media stuff will start happening.

Part of the problem with the discovery of the so-called breast-cancer genes was that physicians wrongly told women that had the genetic changes associated with the genes that they had a 99% chance of getting breast cancer. Turns out all women that have these genetic changes don't get breast cancer.