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Digg taught me what not to do just as much as what to do. Sometimes the most expensive lesson is the most valuable one.
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You can't wait for perfect. If you wait for perfect, someone else ships first and owns the market.
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The best founders I know are obsessive. Not ambitious — obsessive. There is a real difference.
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When I invested in Twitter, I wasn't betting on a product. I was betting on Jack. That is what early-stage angel investing actually is.