Web 2.0 Summit: Sequoia Capital’s Michael Moritz
these bits really caught my attention. i totally agree.
Web 2.0 Summit: Sequoia Capital’s Michael Moritz
Moritz: Lesson of Google: Larry and Sergey taking their time and being deliberate, and being prepared to say no. Most people are in such a panic because they have product deadlines to meet, or open reqs; most every leader and director of every company will fall prey to temptation to lower hiring standards to fill the spot; that is very much a short term fix. Very glad Larry and Sergey were insistent in take their time, and finding Eric Schmidt, thanks to John Doerr, to join their company. I am huge, huge believe that greatest possible thing that can happen to an investor in a company is to be blessed with the sort of personal people who start company with enthusiasm, verve, talent and develop and grow with that company. No accident that the really great companies - Microsoft, Oracle, Intel, Bill Gates, Steve Ballmer, Larry Ellison, Gordon Moore, Larry and Sergey - the founder grow up with the companies, and do not lose the zest they had in the early years. Look at the history of Apple over the last 20 years and what happens when the founder returns.
John is asking Moritz about platform companies; he is wondering if Facebook is similar to other ones?Moritz: There are traits of those companies; you get the whiff of them, more than a whiff, at Facebook. When communications flows through one of these companies, good things tend to happen on the Internet. Facebook is this incredible communications system. That would be one common theme - Google, PayPal, YouTube - company that few, than 100s, than 1,000s then millions and 10s of million can do something for themselves. Enable millions of people to do something they haven’t done before.