Owning the intellectual property is like owning land: You need to keep investing in it again and again to get a payoff; you can't simply sit back and collect rent.

Part of the problem is when we bring in a new technology we expect it to be perfect in a way that we don't expect the world that we're familiar with to be perfect.

What's really going on here is, this is a media shift. It's comparable to what happened in the 1950s and the birth of electronic mass media back then.This is the birth of a new kind of personal media, where, instead of we're all watching one program, we're all watching each other. And the history of media makes it really clear. Whenever we have a big innovation, the first wave of stuff we do is pretty crummy. The printing press gave us pornography, cheap thrillers, and how-to books. Television gave us Newt Minow's vast wasteland.

When I was a young student, I thought grow-ups would come and make things work. Now I realize that grown-ups are just kids with wrinkles.

I believe in markets doing what they do well, which is to develop technology, and letting citizens do what they ideally do well, which is to set policy.

The Internet is an incredible business tool. First of all, the Internet/the cell phone - the cell phone is just another way to get at it - I think is having a huge impact in Africa most particularly, where it enables people - suddenly, they know crop prices. They can communicate. It makes their lives more efficient.

I became a real free market fanatic. I'm probably less so now than even two or three years ago.