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We own only a small percentage in Omnivore, but we manage it. It is basically a venture capital fund to help newer enterprises and provide them with the funding they require in their early stages of development.

I have started many companies now worth more than $100 million. So I know a little about business.

I bought a company in the mid-'90s called Dexter Shoe and paid $400 million for it. And it went to zero. And I gave about $400 million worth of Berkshire stock, which is probably now worth $400 billion. But I've made lots of dumb decisions. That's part of the game.

Most financiers, corporate lawyers, lobbyists, and management consultants are competing with other financiers, lawyers, lobbyists, and management consultants in zero-sum games that take money out of one set of pockets and put it into another.

Every time I've done a fund raiser, I've been blown away by the amount of money and the generosity that our fans have.

In every business I had ever started, even ones that had totally failed, I had kept good relations with the investors.

Every business I don't know, if I spend enough time - a couple of months - I will know a lot. I know quite a lot about football now. I know the value of players, and we won't do stupid things.

I am a partner at CrunchFund, a venture capital firm with investments in many startups around the world. I am also a limited partner in many other venture funds which have their own startup investments.

You need to begin to network with angels and VCs while you are still ideating. It is easier to ask someone you know for funding than a stranger. Build your financial network by attending as many industry functions and reaching out for advice from experts online.