Dan Quayle

In 1967, the world health community launched a global effort to eradicate smallpox. It took a coordinated, worldwide effort, required the commitment of every government, and cost $130 million dollars. By 1977, smallpox had disappeared.

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.