Nancy Gibbs

I'm sentimental about many things: the lumpy feel of a baby's unused feet, the metallic smell of the air before the first snow, the last scene in 'It's a Wonderful Life.' But Valentine's Day leaves me cold.

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.