Here's what Tom Ford told me when I was starting out. He created 3000 Sand Hill Road.

I asked him about the real estate business. He got excited: "Real estate is fantastic!"

I said: "Should I do something?"

He said: "No. If you want to get into the real estate business, you have to dedicate your life to it."

Same thing with venture capital.

You've got to be in it. Deep. Shallow. Horizontal and vertical on every topic you can think of.

You've got to understand the consumer from different points of view. You've got to have a futuristic vibe.

And you've got to keep adjusting based on everything you see around you.

If it's a hobby? Just invest in a venture fund. Pick one where the people are completely dedicated. That's all they live for.

If you come at it from an angle, that's great. But it's got to be your entire life.