Matt Cohler

Hammer down product fundamentals first. Make sure you've got something that works before doubling down on promotion and marketing. Create a groundswell of organic support, and only then leverage PR and advertising to spread the word.

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.