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I don't think a lot of people have been entrepreneurial about venture capital.

Many entrepreneurs, and the venture investors who back them, seek to build billion-dollar companies.

There are lots of ways to make money in venture capital, and there are even more ways to be mediocre. The industry has too much money and too many smart people chasing too few great entrepreneurs.

Technology ventures can succeed with very little investment, unlike many other industries. A lot of the big Internet players like Google or Yahoo were started by a couple of guys with computers. Microsoft was started in Bill Gates' garage.

The big value of the founder running the company is really two things: the knowledge and the commitment.

One of the perks of being the founder is that you get to build the company in your image.

Founding a company is hard. Most of it isn't smooth. You'll have to make very hard decisions. You have to fire a few people. Therefore, if you don't believe in your mission, giving up is easy. The majority of founders give up. But the best founders don't give up.

Most companies don't have the luxury of focusing exclusively on innovation. They have to innovate while stamping out zillions of widgets or processing billions of transactions.

I feel that the best companies are started not because the founder wanted a company but because the founder wanted to change the world... If you decide you want to found a company, you maybe start to develop your first idea. And hire lots of workers.

Venture capitalists certainly create value for themselves, but they also singularly create value for the rest of the world.