“Exits are the best part of being an entrepreneur or investor. It’s when we get financially rewarded for all of the creativity, hard work, investment and risk we put into our companies.”

“Exits are the least understood part of investing—as often by the investors themselves as by the entrepreneurs. This book is about the large number of other exits—the ones that are not driven by the VCs.”

“Today, the optimum financial strategy for most technology entrepreneurs is to raise money from angels and plan an early exit to a large company in just a few years for under $30 million.”

“The grim irony of investing, then, is that we investors as a group not only don't get what we pay for, we get precisely what we don't pay for. So if we pay for nothing, we get everything.”

“Instead of stocks investors should invest in blankets, that way they’ll at least have something to keep them warm after they’ve lost all their money when the company goes under.”

“Every company needs an exit strategy and an exit plan. Ideally, the exit strategy should be agreed upon by the founders before the first dollar of investment goes into the company.”