Hire sales people who are really smart problem solvers, but lack courage, hunger and competitiveness, and your company will go out of business.

You read these management books that say, 'These are the hard things about running a company.' But those aren't really the hard things. The hard things are when you have to layoff half your company, or you have to fire your best friend. Or you have to figure out a way not to go bankrupt.

As a company gets big, the information that informs decision-making gets massive. Depending upon the prism through which you view the business, your perspective will vary. If two people are in charge, this variance will cause conflict and delay.

You have to be responsible when you're running an organization, and firing people who are your friends is part of that responsibility.

The big value of the founder running the company is really two things: the knowledge and the commitment.

I described the CEO job as knowing what to do and getting the company to do what you want. Designing a proper company culture will help you get your company to do what you want in certain important areas for a very long time.