The reason we have so much talent in Silicon Valley building and investing in for-profit technology companies is that markets richly reward successful ideas, no matter who invents them. But to remain competitive in a free market, companies must exercise discipline to meet quantitative goals and eventually become cashflow positive.

Engineering is the art of managing scarcity - it's easy to design and build a massive bridge that will last forever if cost is not an issue. Similarly, to build a new company, you must manage scarce resources.

A common mistake among new entrepreneurs who have raised large rounds is that they have essentially infinite resources.

Joe Lonsdale Quotes