More and more major industries are being run on software and delivered as online services—from movies to agriculture to national defense. Many of the winners are Silicon Valley-style entrepreneurial technology companies that are invading and overturning established industry structures. Over the next 10 years, I expect many more industries to be disrupted by software, with new world-beating Silicon Valley companies doing the disruption in more cases than not.

In 2000, when my partner Ben Horowitz was CEO of the first cloud computing company, Loudcloud, the cost of a customer running a basic Internet application was approximately $150,000 a month.

Any new technology tends to go through a 25-year adoption cycle.

The most important thing is to get on the right horse.

Innovation accelerates and compounds. Each point in front of you is bigger than anything that ever happened.

Google is working on self-driving cars, and they seem to work. People are so bad at driving cars that computers don't have to be that good to be much better.

At a certain point in your career - I mean, part of the answer is a personal answer, which is that at a certain point in your career, it becomes more satisfying to help entrepreneurs than to be one.