The very first company I started failed with a great bang. The second one failed a little bit less, but still failed. The third one, you know, proper failed, but it was kind of okay. I recovered quickly. Number four almost didn't fail. It still didn't really feel great, but it did okay. Number five was PayPal.
Ignore your mistakes. The number one thing to worry about is -Am I doing what I'm good at?
A classic engineering mistake and one I've made is confusing what is hard and what is valuable.
We're all put on Earth for a limited amount of time. Am I using in a way that is great, or good enough, or wasteful?
Being an entrepreneur is not about being in love with an idea, it's about being in love with running a company.
You can have successful teams where people hate but deeply respect each other; the opposite (love but not respect among team members) is a recipe for disaster.
The single most important top-level trend is the shift to mobile.
Having a highly homogeneous background, education, values, preferences, etc, in the very early team is better than not - cuts down on time-wasting arguments.
The notion that diversity in an early team is important or good is completely wrong. You should try to make the early team as non-diverse as possible.
I have this massive notebook called IDEAS and another one called PERSONAL IDEAS and another one called CRAZY IDEAS.
I think the hallmark of a really good entrepreneur is that you're not really going to build one specific company. The goal - at least the way I think about entrepreneurship - is you realize one day that you can't really work for anyone else. You have to start your own thing. It almost doesn't matter what that thing is.
Mobile is the perfect example of what is enabling economic growth in the technology sector.
You can't get married to any one particular plan. That is the biggest lesson I learned at PayPal.
You are not designing for yourself, and shouldn't be. Most people using the Web don't understand (most of) what makes it work and don't want to. Design for those people. There are many more of them than you.
We're becoming slaves to our social networks - and that's not a bad thing. You like your favorite networks, so do you friends, and pretty soon you have market winners.
The world is now awash in data and we can see consumers in a lot clearer ways.
PayPal once rejected a candidate who aced all the engineering tests because for fun, the guy said that he liked to play hoops. That single sentence lost him the job.
Media is very different from financial services. People are very fickle and very vocal. They believe that things should be one way and not the other. It's still very rewarding to build products for huge audiences. It feels like you're making an impact.
If you can work a brand successfully into the narrative of your product, then it's really cool. Then people actually take the brand up and say, 'My positive experience in your product is directly connected and influenced by this brand and that worked great.
Facebook is so ubiquitous now that it's like another manifestation of the web itself.
As I was getting interviewed by the Wall Street Journal, or some big pub guy, all I remember was that he went off to the bathroom for a second, and they brought out my omelet. The next thing I remember, I woke up, and I was on the side of my own omelet, and there was no one at Buck's. Everyone was gone. They just let me sleep.
You're going to pull out your phone and try to use whatever is the most appropriate app on your iPhone or your Android device. Yelp saw that very early on. And when we launched the mobile product, we saw immediate growth, and we were stunned.
I've been developing mobile for years before anybody else really thought it was that important.
Right now, nearly all the apps on Facebook take a week to build. No more.
Facebook and Myspace are the U.S. audience, which is tried and true when it comes to being susceptible to ads.
