College is a magic time. Yes, you're young and fickle, but you want to be part of this college experience... Then you graduate from that. You have your first job, moving to a new city.

It's a market where individuals are coming into their own and making their own decisions as to who they want to be, what they want to buy, what they want to do. It's the time in the life where people are the wealthiest. They don't have a family to support.

The best early-stage venture capital investments appear obvious in retrospect; however, very few of them are actually obvious when you make them.

A lot of great people come to Facebook. In our business, we're about how do we help connect our companies to great people across all levels.

Are there lots of companies being created because it is easier and cheaper than ever? Yes. Do lots of them have silly names? Yes. But these entrepreneurs are just responding to the market.

The most important thing for us is investing and making companies great, and then they have all the options they want, whether that's to go public or stay private.

The story of Google is just when everyone concluded that a search engine would never make any money, everyone backed out of it, and Google walked into that vacuum and dominated.

There's a final exam in venture every four to six years. The scary thing is you need to get an 'A' in every discipline. You need to be on generational planning, need to be on great deal flow, need be on great outcomes, you need to be on great company building.

We listen to the entrepreneur. We try to have a fine tuning fork to understand what they are saying and whether that makes sense and know it when we see it. We don't try to do too much predicting.

We reviewed our process at Greylock and discovered that the best investments are non-obvious enough that they result in a mixed vote by our partnership.