The following is a guest post written by Bill Gurley, a general partner at Benchmark Capital who has led investments in OpenTable, Zillow and Uber (and many other successful startups).
Perennial Midas Lister Bill Gurley is the longest-serving active partner at Benchmark, the famed venture capital firm behind companies like Snapchat, Twitter and Uber, where Gurley sits on the board and led Benchmark's Series A investment in 2011.