“The Market has to be huge because everyone makes mistakes. You never quite get it right the first time. I believe that the Internet is very efficiently arbitraged. Anything you can think of has been thought of and tried. The only way you’re going to find something is if you stick to it, at an irrational level and try a whole bunch of things. Companies that don’t do giant pivots are always doing micro pivots. “You need a large enough market that you can pivot in and you still have a customer base. Another related point to that is – it’s just as hard to build a large company as it is a small company, so you might as well build a big company. It’s roughly the same effort.”

I found his comments on the Start Fund to be the most interesting. Despite all the heat generated when the fund was first announced, I didn't see anyone else describe it as an "unbundling" of advice from money, which is the way Ravikant puts it. It's an interesting way of looking at things.

I'm not sure I'd have used the words "in-depth", but here's what he says about bubbles: "We might be in a series of micro-bubbles, seed round prices being driven higher by VCs competing with angels for good seed deals. I don’t think we’re in a macro bubble. The total amount of money in the market or at risk is still very small."