The Internet doesn't change everything. It doesn't change supply and demand. It doesn't magically allow you to build businesses by turning investors' money into operating expenses indefinitely. The money always runs out eventually.. the Internet doesn't change that, as we have seen.

Make mistakes faster.

I don't see Merced appearing on a mainstream desktop inside of a decade.

Bad companies are destroyed by crisis, Good companies survive them, Great companies are improved by them.

I think Amazon is the preeminent pioneer in building a new way of doing commerce: personalized, database-driven commerce, where the big value is not in the purchase fulfillment, but in knowing as much about a customer base of ten or twenty million people as a corner store used to know about a customer base of a few hundred. In today's mass-merchandising world, that's largely gone; Amazon is trying to use computer technology to re-establish it.

Growth is kinda built into everyone's genes. It's built into management's genes, the salesman's genes, the investors' desires. People expect companies to grow.

Congress will pass a law restricting public comment on the Internet to individuals who have spent a minimum of one hour actually accomplishing a specific task while on line.