The legendary Silicon Valley investor Bill Gurley thinks Los Angeles tech founders should be more focused on growing their business over the long term instead of selling to larger competitors too quickly.

"I think [they've] historically been a little too transactional, which I blame on Hollywood," Gurley said, speaking in a keynote session on the second day of the dot.LA Summit. "You tended to have more M&A outcomes than IPOs."

dot.LA Summit -- Bill Gurley & Spencer Rascoff www.youtube.com


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