Jeremy Grantham

The only investable idea I have real confidence in is farming and forestry. My family owns some forest, and now we're closing on a farm. Make the farming more sustainable and the forestry more sustainable, and everyone benefits.

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.