Now, if you're rich, you can spend a lot of money, Netherlands-style, and reduce that. But Bangladesh or parts of India, like Calcutta, they just simply won't be able to afford that kind of protection.

The most straightforward path would be if we could bring the cost of solar electric and wind down by another factor of say, three, and then have some miraculous storage solution, so that not only over the 24-hour day but over long periods of time where the wind doesn't blow, you have reliable energy. That's a path. But energy storage is hard. That's not a guaranteed path.

I did not even finish my studies

Software substitution, whether it's for drivers or waiters or nurses ... it's progressing. ... Technology over time will reduce demand for jobs, particularly at the lower end of skill set. ... 20 years from now, labor demand for lots of skill sets will be substantially lower. I don’t think people have that in their mental model.

Contrary to Piketty’s rentier hypothesis, I don’t see anyone on the [Forbes 400 list of the wealthiest Americans] whose ancestors bought a great parcel of land in 1780 and have been accumulating family wealth by collecting rents ever since. In America, that old money is long gone - through instability, inflation, taxes, philanthropy, and spending.

Why do people benefit in inverse proportion to their need? Well, market incentives make that happen.

... No one is less happy than I am with the performance of Microsoft stock! I've lost tens of billions of dollars this year - if you check, you'll see that's more than most people make in a lifetime!