There is a massive ecosystem that has to get built that looks like a biosphere. And the various parts of that biosphere better be there.

When you brought the Industrial Revolution in, all of a sudden India and China went from being the dominant global powers to being powers dominated by those who understood how to apply this new technology.

Until African-Americans and Hispanics can get serious, not just about area studies, which are important, but also about science and technology, they're not going to generate that wealth and that job within those communities. And that has absolutely devastating consequences for the places where people live, for the jobs and for the wealth.

There are certain zip codes that generate a disproportionate share of patents, of startups, of wealth, of jobs. And it's really important if other parts of the country are going to want to create these tech centers.

If you depend on a single industry, if you don't continuously upgrade it, if that industry is not producing real wealth, if it's simply shuffling paper from here to here in a very efficient manner sometimes, that's not enough and that's not where you begin to get the rest of your jobs.

There's always a question when you invest. Are you too early, are you too late, or are you just right? And there was a lot of hype about life sciences, around the sequencing of the human genome and a lot of people concluded that's not really there. But by the way, there was a lot of hype around the digital revolution just about the time of 2000 and the human genome, and it turns out that some of the world's biggest, most powerful companies are the survivors post that crash.

Within the United States, there is a real division between the PhDs given in science and math to the Asian community, to the traditional white community, and then to African-Americans and Hispanics.