Most of the value in tech companies exists far in the future, often beyond a decade, which is why growth rates are often overvalued compared to long-term durability.

The current AI hype cycle may resemble past speculative bubbles, but the tangible utility of AI products differentiates it from the crypto hype, where many products lacked clear value.

The distinction between hard tech companies and regular tech companies lies in the fundamental questions of possibility that hard tech companies must address, in addition to standard market risks.

Celebrating the impact of technology on society is more important than glorifying tech companies themselves; the focus should be on how technology is used to create value.

There's a significant difference between capital and value; the value of a dollar today does not equate to raw fundamental value, leading to misallocations in wealth.

Investing in things that aren't software is okay if you believe in the founder's expertise; there are many great opportunities in biotech that could lead to significant exits.

Valuation matters, but it shouldn't be the sole focus; understanding the potential return on investment is crucial, as a single successful investment can significantly outweigh losses from others.

The world is still largely unaware of the value of having extreme conviction in a single bet, which is why I'm excited for startups right now.

There's no such thing as value investing in startups; investing based solely on perceived bargains often leads to losses.