“Groupon looked like a very high valuation, but any investment in a great company…” — Ben Horowitz

You have to be responsible when you're running an organization, and firing people who are your friends is part of that responsibility.

You read these management books that say, 'These are the hard things about running a company.' But those aren't really the hard things. The hard things are when you have to layoff half your company, or you have to fire your best friend. Or you have to figure out a way not to go bankrupt.

In my own experience as a C.E.O., I would find myself laying awake at 3 A.M. asking questions about my business, and there weren't management books out there that could help me.

Most books on management are written by management consultants, and they study successful companies after they've succeeded, so they only hear winning stories.