It's pretty challenging for large funds to spend the time and energy necessary to get a meaningful return when most of the wins coming out are perhaps below $100 million exits and the ones above are very few and far between.
Only now did I recognize the reciprocal relationship which exits between manufacturing power and the national system of transportation, and that the one can never develop to its fullest without the other.
So we do have our exits and our entrances and we are perhaps mere, but I think if one keep a certain joyousness in life which should be in playing, then good for one, but it's slightly more serious than that.
When I do a fashion show, it's not done until it exits out of the door.
One is struck in the study of saints, angels and gods by a pattern that seems quaint and harmless. Yet, it is so common that I know there must be a deeper meaning. There always seem to be guardians and spirits of doors, bridges, exits and entranceways.
One thing I would like to see in Vancouver and Canada is something similar to the PayPal mafia. They were all early employees of PayPal. They all had monster exits with PayPal, and they were able to take their winnings and form a syndicate that co-invests.
You take something like RingCentral. It doesn't need any more money or financing: it is relatively mature, recurring revenue business - not really worried - but you know, we could sell it tomorrow. We have not been in a rush to sell it. We don't care about exits as much. We care about building fundamental value.
I described the euro as a burning building with no exits and so it has proved for some of the countries in it.
[the Fellowship exits Rivendell, with Frodo in front]
Frodo: Mordor, Gandalf, is it left or right?
Gandalf: Left.
