Vinod Khosla

Seeking an acquisition from the start is more than just bad advice for an entrepreneur. For the entrepreneur it leads to short term tactical decisions rather than company-building decisions and in my view often reduces the probability of success.

Imagine the world of mobile based on Nokia and Motorola if Apple had not been restarted by a missionary entrepreneur named Steve Jobs who cared more for his vision than being tactical and financial.

If everyone played it safe, we wouldn't get anywhere.

I'm a fiscal hawk. I vote against all taxes, but I do believe the environment, and climate change, is a bigger issue than fiscal deficits are as a risk to the nation.

Entrepreneurs have the flexibility and the ability to do things that large companies simply cannot. Could a large company pull off a trick like Amyris, going from anti-malaria medicine to next-generation fuel?

Startups allow technologists and scientists to take risks and change plans in a way that would be frowned upon in a big company. Having said that, big companies will play a key role in certain areas and in partnerships with little companies. Each has its strengths.

Will biofuel usage require land? Absolutely, but we think the ability to use winter cover crops, degraded land, as well as using sources such as organic waste, sewage, and forest waste means that actual land usage will be limited. Just these sources can replace most of our imported oil by 2030 without touching new land.

Knowing whose advice to take and on what topic is the single most important decision an entrepreneur can make.