The distributor used to get 10, 12, 14 percent in most cases, but the App Store or Steam - they're taking 30 points. So clearly, they're viewing what they bring to the table in the digital environment to be more valuable than distribution.

I really think the app store is kind of the killer app for Apple and for Google.

Snapchat's ramp reminded us of another mobile app Benchmark had the good fortune to back at an early stage: Instagram.

I started hearing Snapchat in the same context as Twitter, Instagram and Facebook. That got me curious.

There's a myth that free-to-play is cheaper than a $60 game. It's just elastic. For some users, it winds up being a lot more expensive. I would have paid $150 a year to get a better version of FIFA.

Companies with aspirations to be larger publishers - Kabam, Kixeye, even Zynga - are moving aggressively off the Facebook platform to mobile and the open Web. Publishers aren't convinced that the costs of being on Facebook are worth it.

I've watched what happens when a game like 'DragonVale' gets to number one on iOS. Suddenly there's ten other versions of it that hit the store. As a gamer, that bothers me. I don't like those companies.

I've witnessed first hand the impact the Benchmark team has had on new ventures, and I believe their commitment to the entrepreneur and dedication to building companies of lasting value really set the firm apart.

Everyone talks about discovery, but I really believe that great content finds its audience.

The ambitions for Thatgamecompany are very exciting to me.