If you're not stubborn, you'll give up on experiments too soon. And if you're not flexible, you'll pound your head against the wall and you won't see a different solution to a problem you're trying to solve.

But there's still so much you can do with technology to improve the customer experience. And that's the sense in which I believe it's still Day One, and that it's early in the day. If anything, the rate of change is accelerating.

It's hard to find things that won't sell online.

But there's so much kludge, so much terrible stuff, we are at the 1908 Hurley washing machine stage with the Internet. That's where we are. We don't get our hair caught in it, but that's the level of primitiveness of where we are. We're in 1908.

The balance of power is shifting toward consumers and away from companies The right way to respond to this if you are a company is to put the vast majority of your energy, attention and dollars into building a great product or service and put a smaller amount into shouting about it, marketing it.

Am I going to regret leaving Wall Street? No. Will I regret missing the beginning of the Internet? Yes.

There is no map, and charting a path ahead will not be easy. We will need to invent, which means we will need to experiment.