"Why is it that most of the best managed companies are operated by their owners? Think about Apple, Google, News Corp, etc. All of these companies are run by owners who have a huge amount of their net worth tied up in the business. The same is true of Microsoft until recently when Gates left the business for the most part. But even Gates still has a lot of money tied up in Microsoft. When these leaders make decisions, they are risking their own capital/net worth, not just the capital and net worth of shareholders who they supposedly work for, but really don't."
- From A VC in NYC written by Fred Wilson, principal of Union Square Ventures.
