It's harder than ever to build an enduring company. As soon as a product strikes a nerve with customers, competitors emerge globally because the costs to start are so low.

All you need to have a successful company is to make a good base for your product, from there on, all you need is to build on, to keep the customers excited about your product.

Businesses are not just local or even national anymore - good ideas are immediately global. So the market opportunities are much larger than we've ever imagined or seen.

As an immigrant, my wish is that we fix immigration. At Sequoia, we've backed a number of exceptional founders that were born abroad but started their careers in the Valley. They've created immense value, but more importantly, massive numbers of jobs locally, nationally and globally.

Art is very tricky because it's what you do for yourself. It's much harder for me to make those works than the monuments or the architecture.

You can hype a questionable product for a little while, but you'll never build an enduring business.