Carl Sandburg

Arithmetic is where the answer is right and everything is nice and you can look out of the window and see the blue sky - or the answer is wrong and you have to start over and try again and see how it comes out this time.

My venture investing career has three phases, all roughly 6-8 years long. The first, at Euclid, was software to Internet. The second, at Flatiron, was Internet to bubble. And the third, at USV, has been web 2 to mobile. I have always used a new firm to denote a new investment phase for me. Throw away the old. Start with the new.