Mediocre theoretical physicists make no progress. They spend all their time understanding other people's progress.

The great thing about fact-based decisions is that they overrule the hierarchy.

If you're competitor-focused, you have to wait until there is a competitor doing something. Being customer-focused allows you to be more pioneering.

You want to look at what other companies are doing. It's very important not to be hermetically sealed. But you don't want to look at it as if, 'OK, we're going to copy that.' You want to look at it and say, 'That's very interesting. What can we be inspired to do as a result of that?' And then put your own unique twist on it.

If you invent frequently and are willing to fail, then you never get to that point where you really need to bet the whole company.

I'm not saying that advertising is going away. But the balance is shifting. If today the successful recipe is to put 70 percent of your energy into shouting about your service and 30 percent into making it great, over the next 20 years I think that's going to invert.

I told all of our original investors that they would lose their money for sure.