Raise as little as you can to get you to something that you can show - plus maybe a quarter or two so you have a little bit of cushion - and then raise some more money. Raise as little - not as much - as you can because that's the most expensive equity you're going to sell.

If I could press a button and have all of Sequoia Capital on the Midas List, I would choose to do that over a honoring a single individual.

We have co-opted seed funds. You know, Y Combinator, that was completely our money. We have secret handshakes with a whole bunch of people. Very dangerous, because word gets out that so-and-so's money is Sequoia's money, that would not be a good thing.

We've tried to build Sequoia Capital with an eye for the long term that we really look for in the companies we like to partner with.