A Quote by Steve Jurvetson
I'd stay away from investments in a variety of sectors that are capital intensive. Anyone who says we need $100 million before we know if what we're doing makes sense and the customers want it - that's not going to work.
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Most entrepreneurs don't need as many customers as they think. A lot of people think 10 is too few for a sample. But if all 10 refused a product, why is that not enough? If you want 100, 1,000 or a million customers, you first have to get 10.
For me, as I suspect for most people, there comes a point where you have enough. If you've got £20 million, why keep going until you've got £100 million or £1,000 million? Does anyone need another vast yacht or private jet or a house full of gold?
If it's servicing a real need, that doesn't go away in a recession. If you're serving a true need, and if you have a loyal group of customers that are falling... As the world goes through a tough time, these customers will stay with you.
Thus, the capital owner is not a parasite or a rentier but a worker - a capital worker. A distinction between labor work and capital work suggests the lines along which we could develop economic institutions capable of dealing with increasingly capital-intensive production, as our present institutions cannot.
I think Salesforce, going public very early on before they were profitable, it made a lot of sense for them because it got customers comfortable that these guys were going to have capital and be transparent about their business.
I know the food groups that I like to have and are good for me and those that I have to stay away from. And so, I don't need to know exactly what I'm going to eat, but I take my insulin probably 20 minutes before I'm going to sit down.
If I did want to come back, I was going to make, what, $50 million? You know what; don't call my phone unless you've got $100 million.
I don't see me doing $100 million films because $100 million films, the very nature of them, you need to offend as few people as possible just to make your money back.
I love being a mum, but it's much more intensive work than being an actress - going to work feels like you've got a day off. Not that I want a day off from being a mum; it's just perhaps I had this impression before that mums don't work. But they work more than anyone.
Empowering innovations require long-term investments, which tie up capital for years and years. So companies are using capital to create more capital, and consequently, the world is awash in capital, but the innovations we need to advance aren't there.
If you're going to be an investor, you're going to make some investments where you don't have all the experience you need. But if you keep trying to get a little better over time, you'll start to make investments that are virtually certain to have a good outcome. The keys are discipline, hard work, and practice. It's like playing golf - you have to work on it.
SpaceX is very unusual. I don't know of any other startup where the founder put in $100 million of his own money before looking for any outside capital. They have wildly exceeded any reasonable expectations.
If you want to survive in the film industry, it's not about fighting for your visions because that's a given. It's thinking about how much is your vision going to cost, and then, what are the consequences, because you may have $100 million, but the reality is that $100 million needs to make $500 million to be a success.
I do have investments, investments in new jobs, investments in education, skill training, and the opportunities for people to get ahead and stay ahead. That's the kind of approach that will work.
Set your business plan to win; raise the bar or you're not going to be prepared. You need to think that what you're doing will make you $100 million.
We never really know what we want until after we get it. If after we get it, it makes life more miserable, we know that isn't what we wanted. If it makes our life wonderful, we know this is a strategy which will meet out need. That's why Paul Tillich, the theologian says we need to sin courageously. You ask for what you want, hoping to meet your needs. If you get it and it makes life worse, you learn that this isn't what I want.
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