We decided to forgo our initial revenue from website creation to focus on building a network, which made it easier to attract more companies to join Link Exchange.

After selling Link Exchange to Microsoft, we started an angel fund called Venture Frogs in 1999, which was a challenging time due to the impending dot-com crash.

Many successful tech companies, like Amazon and eBay, began by dominating a small niche before expanding into larger markets.

After selling PayPal to eBay in October 2002, I recognized that the consumer internet was just beginning, contrary to the belief that it was over, and I decided to pursue the LinkedIn idea.

At eBay, we shifted our affiliate payment model to incentivize activated users, which improved the quality of users we acquired despite a drop in quantity. To drive user engagement, land users on the search results page for trampolines on eBay instead of the registration page, allowing them to see what they want to buy and register when they're ready.

PayPal's growth was driven by its two-sided marketplace, connecting buyers and sellers, and its viral mechanism through eBay.

In the early days, Airbnb's growth was significantly supported by online marketing, particularly through strategic keyword purchases.

By implementing feedback from our earliest customers quickly, we saw a significant increase in revenue and listings, demonstrating the power of word-of-mouth marketing.

Tony and Sanre started a company building websites in the late 1990s, solving the problem of getting traffic to those sites by linking them together, which created a powerful network effect.