Venture capitalist Hunter Walk, the co-founder of Homebrew, talks with Peter Kafka about his pre-investing career at Second Life, YouTube and "Late Night With Conan O'Brien." He also joined Google in 2003, when the 1,000-employee company was only known for search and before it went public. He discusses why venture capitalists like him need to be patient; how YouTube started making money and paying its users; and why Vine, Instagram and Snapchat should follow YouTube's example.

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