Estrin emphasizes the reality of entrepreneurship sometimes being about money. But she rebukes that entrepreneurship can never be JUST about the money.

Start ups are difficult and risky, says Estrin. Lots of combined skills are necessary. Attention to details, hard work and a lot of luck play an important role in the success of a company, she says. The environment is risk averse today--customers, funders and employees. Start ups have to be creative and find alternative funding, she adds.

The consumer market is not a very friendly market for startups, says Estrin. It can be a 5-7 year deal and not a 2-year cycle. It is a long haul to liquidity, she notes, but the good news is that rent is cheaper. It is important to build a strong foundation a brick at a time.

Estrin explains how it is difficult to reach critical mass in a tough economic environment, which prevents startups from growing enough to compete. She gives a personal example of Precept attempting to enter the market, but not reaching critical mass by the time Microsoft entered the market as well.

Estrin talks about the three cycles in IT networks: 1) Enterprise productivity cycle 2) Connecting people 3) Connecting devices.