The values of the world we inhabit and the people we surround ourselves with have a profound effect on who we are.

I don't want to be like the angry old guy in the corner who is always ranting and raving about the same things - but I don't mind doing that just a little bit!

And my advice for college graduates is don't reflexively give money to your alma mater, something particular to Americans that I find extraordinary. Take Princeton, for example - it has more money on a per capita basis than any educational institution in the history of educational institutions. There is no scenario where it can spend all the money its endowment generates every year. If there is anyone who gives a single dollar to Princeton, they have completely lost their mind. I will say that without reservation.

Emotion is contagious.

What is learned out of hard work and trial is inevitably more powerful than what is learned easily.

We spend a lot of time and effort trying to figure out who's going to be a good NFL quarterback, and we do a very bad job of it. We don't really know. And we also spend a lot of time trying to figure out who will be a good teacher, and we're really bad at that too. We don't know if someone is going to be a good teacher when they start teaching. So what should we do in those situations in which predictions are useless?

The iPod is clearly a tipping point (and I'm not quite sure it is a wholly positive development), because it is a revolution in the way that we consume creative property, which I would call art. It has radically changed the relationship between the artist and the audience, how money changes hands, and how much money changes hands. Music was the first, and books are coming next. The Kindle or some form of electronic book is clearly inevitable, and it will massively reshape how books are sold, who pays for them, and how they're consumed. It is going to be really fascinating.