TV and the press have always functioned according to the same sets of rules and technical standards. But the Internet is based on software. And anybody can write a new piece of software on the Internet that years later a billion people are using.

Nokia and Research in Motion needed a modern operating system. They could have bought Palm or Android before Google did, but they didn't. Today, it's probably too late, and at the time they would have been criticized for overpaying, but as they say - shift happens.

Out of ten swings at the bat, you get maybe seven strikeouts, two base hits, and if you are lucky, one home run. The base hits and the home runs pay for all the strikeouts

I would say the consumer Internet companies - in a lot of ways, if you go inside the consumer Internet companies and you see how they run, it's how all their businesses are going to run.

Health care and education, in my view, are next up for fundamental software-based transformation.

Ten to 20 years out, driving your car will be viewed as equivalently immoral as smoking cigarettes around other people is today.

It's an old - and true - cliche that VCs rarely actually say 'no' - more often they say 'maybe', or 'not right now', or 'my partners aren't sure', or 'that's interesting, let me think about it'