Bill Gurley

He said, we only want to back founders that go all the way.

And it was a genius thing to write because that's what founders want to hear.

It's actually true of every venture capitalist in the world because you got a 50-50 shot when you change the CEO.

Why would you put that risk on your portfolio?

But deep in that blog post, there were two or three paragraphs that said, of course, the founder has to want to learn how to lead.

And I think one piece that we miss so much in this industry is there's nothing about a founder in the way they're born that makes them capable of leading a thousand person organization.

And there are people that have studied what it takes to be good at that their whole lives.

There's a handful of founders, maybe 30.

They got to work with Bill Campbell to help coach him on what it means to do that.

But it doesn't come natively.

It's not for free.

And you have to want to do that.

And there's a personality type where that's very hard.

I've had great conversation with Michael Dell.

He did it for a while, thought he didn't want to do it, ended up finding a way where he could do it and be happy.

And it's hard.

That part's hard.

And then maybe the last thing, well, I'd say two things.

One, networks effects are real and they can be more real if you focus on them.

And I think if you're in a hot market and growth's everywhere, it's easy not to think about them, but are there elements of your business where the data exhaust or whatever, where let's just say you have a thousand customers and then you get to 2000 customers, that 2000th customer should have a way better experience than the thousandth.