To turn $100 into $110 is work. To turn 100 million into $110 million is inevitable.

The iPod made music mobile, but today, how many devices do you need to walk around with? You want it on just one. And inevitably that's going to be the phone.

Frankly, right is right and wrong is wrong, particularly when a parent is talking to a child. A bright line around moral responsibility is very important.

It strikes me as hubris that Universal will buy EMI. What it will do is create a super-major that will have far too much power... I think when Universal goes up over 40 percent market share, I don't see how reasonable regulators can countenance. It will impact not just labels, but artists and cultural diversity.

If you look at the market cap increase in Apple since it created the iPod versus what's happened to the music industry, you have to say Apple got the better part of that deal.

It's interesting that the book publishing industry, on the iPad, has much more flexibility than the music industry had.

To turn $100 into $110 is work. To turn 100 million into $110 million is inevitable.