Max Levchin

You're going to pull out your phone and try to use whatever is the most appropriate app on your iPhone or your Android device. Yelp saw that very early on. And when we launched the mobile product, we saw immediate growth, and we were stunned.

Media is very different from financial services. People are very fickle and very vocal. They believe that things should be one way and not the other. It's still very rewarding to build products for huge audiences. It feels like you're making an impact.

What cracks me up is people who think I don't take baseball seriously. It's the most important thing in my life. They don't know how hard it is for me to get a bad game out of my mind. I still can't, but I'm getting better.

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.