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.

In the first round of work simplification...you can reasonably expect a 30 to 50 percent reduction...To implement the actual simplification, you must question why each step is performed. Typically, you will find that many steps exist in your work flow for no good reason. Often they are there by tradition or because formal procedure ordains it, and nothing practical ordains it.

Investment decisions and personal decisions don't wait for the picture to be clarified.

The new environment dictates two rules: first, everything happens faster; second, anything that can be done will be done, if not by you, then by someone else, somewhere.

The future is going to take care of itself, like it always has.

I was glad I liked chemistry.

You need just the right amount of ambition . . . If you have too little ambition, you don't push or work hard. If you have too much ambition, you put yourself ahead of others, elbow them out of your way.