Regulatory fiat cannot create a market at a technologically interdependent interface. And by the same token, regulation and so-called monopoly power rarely prevail at modular interfaces between stages of value-added technology.

Because of the disruption phenomenon - technological progress outstripping the ability of customers to utilize it - the general tendency is for the money to migrate toward the subsystems.

People still cling to this belief that innovation is just random and unpredictable. But if you look closely, there are some real patterns. The companies that recognize and take advantage of those patterns have the real opportunity to create competitive advantage.

In the study of management, unfortunately, many writers have been so anxious to articulate a theory in the form of, "If you do this, this will result," that they never go through this careful effort.

There needs to be conviction and action behind rules.

I don't view it as mystic. I believe that God is our father. He created us. He is powerful because he knows everything. Therefore everything I learn that is true makes me more like my father in heaven. When science seems to contradict religion, then one, the other, or both are wrong, or incomplete. Truth is not incompatible with itself. When I benefit from science it's actually not correct for me to say it resulted from science and not from God. They work in concert.

There's usually some process by which a potentially great idea gets prostituted into something lacklustre, or by which the wrong idea gets put forward.