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.

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

The good news is we had this idea of cloud computing. The bad news is we were 10 years too early.

There's no such thing as the middle class. It's absolutely vanishing.

Only two people have been on the cover of Time Magazine in bare feet. I'm one, the other is Gandhi.

I think 2012 is the year when consumers all around the world start saying no to feature phones and start saying yes to smartphones.

Smart tech investor thinks about: a) future product roadmap, b) bottoms-up market size & growth, c) talent and skill of team. Essentially you are valuing things that have not yet happened, and the likelihood of the CEO and team being able to make them happen. Finance people find this appalling, but investors who do this well can make a lot of money.