If you look at academic studies, you can see that stock prices are most closely correlated with cash flow. It's such a straightforward number. Cash flow is what will drive shareholder returns.

Are you lazy or just incompetent?

Your margin is my opportunity.

Web 1.0 was making the Internet for people, Web 2.0 is making the Internet better for companies.

What we need to do is always lean into the future; when the world changes around you and when it changes against you - what used to be a tail wind is now a head wind - you have to lean into that and figure out what to do because complaining isn't a strategy.

I don't buy stocks, I make stocks.

People loved their horses, too. But you don't keep riding your horse to work just because you love it.