There was a point in the late '90s where all the graduating M.B.A.'s wanted to start companies in Silicon Valley, and for the most part they were not actually qualified to do it.

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.

Practically everyone is going to have a general purpose computer in their pocket, it's so easy to underestimate that, that has got to be the really, really big one.

There's always more demands than there's time to meet them, so it's constantly a matter of trying to balance them

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.

Around '93, '94, the conventional wisdom about the Internet was that it was a toy for academics and researchers. So it was very, very underestimated for about two years.

An awful lot of successful technology companies ended up being in a slightly different market than they started out in.