American - Businessman | -
It's very difficult for people who don't play video games to understand their power simply by watching, and it's very difficult for people who aren't close to technology to understand how rapidly it can change whatever it touches.
Bing Gordon
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The world of digital media is being transformed. A bunch of new businesses can be reinvented, thanks to social graphs, the mobile internet, and the new shopping habits of the young. Those are going to create a whole generation of cool new companies.
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In my world, I read resumes upside down, so I start with personal interests. So if somebody doesn't have believable, interesting interests, they're not going to work in a creative business.
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Smart people tend to enjoy thinking about a lot of things at once. I'd say entrepreneurs should be serial monogamists; do one thing at a time until you make sufficient progress and then move on.
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One skill of a great entrepreneur is to get a whole complicated discussion and then say, 'We're going to do this one and we're only going to do this one'. Managers are good at prioritizing. Entrepreneurs know what is the one thing.
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For missionary entrepreneurs, the dream outcome is to build an 'Internet treasure' - a brand that defines a generation, proves that we are better than our parents, and becomes something we couldn't live without.
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Somehow, the company must stay true to the founding vision while avoiding the pitfalls of rapid growth - and perhaps survive the hiring of a previously successful executive who doesn't work out.
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The Internet Treasure companies tend to go public rather than get acquired, although there are clear exceptions, like Instagram, YouTube, Skype and PayPal.
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If you're living off credit-card advances and ramen noodles, a buyout offer might be too hard to resist. And you'll be even smarter the second time around.
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