With lower start-up costs and a vastly expanded market for online services, the result is a global economy that for the first time will be fully digitally wired - the dream of every cyber-visionary of the early 1990s, finally delivered, a full generation later

The Internet has always been, and always will be, a magic box.

The smartphone revolution is under-hyped, more people have access to phones than access to running water. We've never had anything like this before since the beginning of the planet.

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.

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

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.

One of the advantages of moving quickly is if you do something wrong you can change it. What technologies tend to do is they tend to make a lot of mistakes... but then we go back and aggressively attack those mistakes - and fix them. And you usually recover pretty quickly.