Billion Dollar Lessons from A VC Investor in GeoCities

Yahoo is closing GeoCities. This prompted VC Fred Wilson to reminisce about his old venture capital firm Flatiron Partners' hundredfold return on GC:

"I learned a lot from that deal. I learned that the Internet is all about people expressing themselves on pages they own and control. I learned that a business deal made over dinner and a handshake can turn into hundreds of millions of dollars, I learned that good partners are worth every penny of returns you give up to get them, and I learned that selling too soon is not too painful as long as you don't sell too much. And most of all I learned that you can make 100 times your investment every once in a while. And when you do, it's something special."

Source: Gawker