It's called the music business. We've all gone into it 'cause we love the music, and a lot of people end up with nothing at the end of the day, after they've done all of this great music, 'cause they never learned any of the business side.

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 generally disagree with most of the very high margin opportunities. Why? Because it's a business strategy tradeoff: the lower the margin you take, the faster you grow.

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