The difference between a vision and a hallucination is that other people can see the vision.

If there's been a crisis in a market, you don't tend to have a new crisis in that market until the people who went through the last crisis aren't in the system anymore.

Where I grew up, we had the three TV networks, maybe two radio stations, no cable TV. We still had a long-distance party line in our neighborhood, so you could listen to all your neighbors' phone calls. We had a very small public library, and the nearest bookstore was an hour away.

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.

Companies in every industry need to assume that a software revolution is coming.

Technology is like water; it wants to find its level. So if you hook up your computer to a billion other computers, it just makes sense that a tremendous share of the resources you want to use - not only text or media but processing power too - will be located remotely.

The good news about building a company during times like this is that the companies that do succeed are going to be extremely strong and resilient.