24 Quotes by Bill Gurley

It is critical to bundle all future variable costs of supporting the customer in order to fairly estimate the future contribution.

I think one thing that may have happened with both Facebook and Zynga is that they may have waited too long to go public. They got particularly cute on that front.

Having an investor on your board of directors who is naive about public markets or finds them complex or scary is non-optimal.

It's really hard to run a business against somebody who is not acting as if it were in business.

Marketing executives like big budgets, as big budgets make it easier to grow the top line.

The first time you went to eBay, you probably didn't do a transaction.

Venture capital is unscalable. Production equals the time each partner has.

Almost everybody who thinks about local thinks about daily deals, but companies like OpenTable and Zillow and Yelp are all getting their money from the local market.

Facebook has stitched together your social graph. The idea of an interest graph is to bring together everyone that has shared interests. If I can isolate the people who are into mountain biking in Marin, in one place, the ability to put ads against that is really high.