Bill Gurley

It is critical to bundle all future variable costs of supporting the customer in order to fairly estimate the future contribution.

I have never seen Jeff Bezos, Marc Benioff, or Reed Hastings complain about being public. Nor have they ever argued that being public prevented them from doing things with a long-term focus.

Having an investor on your board of directors who is naive about public markets or finds them complex or scary is non-optimal.

On the way to work good-hearted young girls sometimes offer me their seats, which I accept and bless them in return, a transaction satisfying to all concerned.

I studied international relations and economics at the University of Virginia. I paid my way by working as a bartender in the summer and at three part-time jobs during the year.

I spend a lot of time on eBay buying vintage. I also really like Alexander Wang, Miu Miu, Vivienne Westwood, McQueen and Balmain.