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Sort of on a): Are non-exit returns ever something you think about? E.g. the possibility of buying into the next craigslist and getting x% cut of some large revenue stream, but never getting an IPO or buyout? Or is that just too uncommon, and/or people with those intentions never cross your radar because they don't seek funding rounds?

I don't know specifics about craigslist, but I haven't heard of anyone who is an investor of a company that pays significant dividends. Not saying it doesn't happen, though.

I suspect that folks who have large revenue streams imminent would go to some effort not to dilute themselves.

I think a lot of us have read Founders at Work.

How about this, has your wealth made you happier?

Not really, no. I like making things.

At what point did you decide to sell Delicious to Yahoo? Did you sell because of the money offered, because the initial idea was more or less finished or something else?

Two reasons: The second round was more difficult than expected, and I thought that search engine integration made a lot of sense.