Douglas Fairbanks

The man who is gloomy, taciturn and lives in a world of doubt seldom achieves more than a bare living. There have been a few who have groaned their way through to a competence, but in proportion to that overwhelming number of souls who carry cheer through life, they are as nothing - mere drops in the bucket.

Mind you, physical training doesn't necessarily mean going to an expert for advice. One doesn't have to make a mountain out of a molehill. Get out in the fresh air and walk briskly - and don't forget to wear a smile while you're at it. Don't over-do. Take it easy at first and build on your effort day by day.

In taking stock of ourselves, we should not forget that fear plays a large part in the drama of failure. That is the first thing to be dropped. Fear is a mental deficiency susceptible of correction, if taken in hand before it gains an ascendency over us. Fear comes with the thought of failure.

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.