You have to continue to be adopting your decision framework. One was whenever I saw a bargain, I should run. It's a sign of no heat. Whenever I did a bargain, I regretted it later. Whenever I was forced to pay up, to date that has been a very good basket of companies

We still use that as one of the primary things that we look for when we sit across the founder is if I weren't doing what I'm doing now, which I love doing this. If I was going to go look for a job, would this be one of the top 10 places that I would want to go work at? Can you convince me?

The shorthand is the three characteristics that the seekers and the Wizard of Oz were seeking. To follow the yellow brick road to the Emerald City and have their wizard grant them. What did the cowardly lion want? Courage. All right, courage. That's number one. The scarecrow was seeking if I only had a brain, he was seeking wisdom. And perhaps the ... See more

The first is probably not having a team that has the skills. You so often run into people who can't code, but want to do a startup and then don't have a co-founder who can code. That's probably the number one

Apoorva's superpower is optimization. He's just said, "These are the 19 things we need to accomplish to make the unit economics work. And I'm halfway on this one and just laid it out."

Number two, I think, would be picking markets that don't exist

What kinds of actions did that mean when you were at eBay operating to try to promote price discovery or price equilibrium or something like that? What were you literally doing? Jeff: The most interesting thing is early on we try all these initiatives that we baked on our own and debuted the community. And we found out the leverage was way more to ... See more

And being on the other side helping founders try to tell their story, the number one thing that I get back is like if only I had more time. Actually, no, no, you don't need more time. You took too much time to begin with. If you're saying I have an idea that's so complex, you need to take time to understand it. That I think misunderstands human bei... See more