His advice is just find a board member you like to work with. At PandoMonthly in San Francisco this evening, he stressed the importance of board members checking in on you.

“One of the hardest thing of being integrated into Facebook is not having a board. And so we’re trying to navigate and find those people that we can turn to for help and to bounce around ideas,” he said.

When it comes to navigating venture capital territory, Instagram had a somewhat rocky ride. It’s seed investor, Andreessen Horowitz, declined to re-invest because Instagram famously pivoted and became a competitor of an existing Andreessen Horowitz portfolio company Picplz.

On the difference in size of venture firms, he said, “I think raising from smaller firms has just as many risks as working with larger firms, and it’s all about finding the right partner to work with.”