And this is the beginning of the end.

Here's what you should say [to an investor]: 'this is what my company does' It's that simple. What you're trying to do is get potential investors to fantasize about how your product or service will make a boatload of money. They can't fantasize if they don't know what you do.

It's easy to say that entrepreneurs will create jobs and big companies will create unemployment, but this is simplistic. The real question is who will innovate.

When you enchant people, your goal is not to make money from them or to get them to do what you want, but to fill them with great delight.

Entrepreneurship is not for everyone.

Good people hire people better than themselves. So A players hire A+ players. But others hire below their skills to make themselves look good. So B players hire C players. C players hire D players, etc.

A 50-year-old company can innovate as well as two guys/gals in a garage.