Investing in management means building communication systems, business processes, feedback, and routines that let you scale the business and team as efficiently as possible.

Customers are a great way to finance a business for many reasons. First, customer financing is typically non dilutive. They want something from you other than equity in your business. Customers also help you fit your product to the market. And customers will help debug and improve the quality of the product.

The Internet is a computing platform built on top of core technology. Applied technology is what gets built on top of that: It's Web services.

It's not easy for an entrepreneur to find the time to blog. But for those who do it, it is a great tool to communicate with the various stakeholders in their business and build a reputation for thought leadership.

We need new medical approaches to preventing and/or curing disease. We need new scientific approaches to generating, storing, and being more efficient with energy. Maybe we need more space exploration. Maybe we need more undersea exploration.

When I see people laughing at ideas and companies we have backed, I smile. It means we are going to make a lot of money on that investment.