“The telephone is a 100-year-old technology. It's time for a change. Charging for phone calls is something you did last century.”
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And the VCR did the same thing: the movie industry thought nobody would ever watch movies any more.
As an investor, what we're not looking for is 'oh this is a cool app, ' it's 'is this something that can become a big business?' You need to find those that can become real businesses.
With our work at Kazaa, we began seeing growing broadband connections and more powerful computers and more streaming multimedia, and we saw that the traditional way of communicating by phone no longer made a lot of sense.
If you want to be an entrepreneur, it's not a job, it's a lifestyle. It defines you. Forget about vacations, about going home at 6 pm - last thing at night you'll send emails, first thing in the morning you'll read emails, and you'll wake up in the middle of the night. But it's hugely rewarding as you're fulfilling something for yourself.
