Without going too deep, without globalization I am not sure everyone would be able to have a supercomputer in their pocket at the low cost.

Do people have confidence? I think the real confidence you need is the confidence in your outlook, and I think people are pretty confident it is a low-growth world.

As a whole, [changing] is deflation force that is being underestimated. Whether each person thinks of it in the context of the word deflation ... what they think of it is, "Hard to hold my margin. I'm under margin pressure. I'm under sales pressure. I'm under cost pressure."

If you're not exposing yourself to a non-consensus view somehow over the course of a day, you can reject them, but you should expose yourself to them.

In each business, there is a process, or a delivery system or information system, that is changing rapidly under them.

That is the brilliant thing about the millennials. They're not obsessing about, "Hey, there is not going to be a job for me" - they're trying to take advantage of how good a life they can have without having to create so much nominal income.

The only thing I find executives down about is the regulatory environment.