People tend to think of the web as a way to get information or perhaps as a place to carry out e-commerce. But really, the web is about accessing applications.

Out of ten swings at the bat, you get maybe seven strikeouts, two base hits, and if you are lucky, one home run. The base hits and the home runs pay for all the strikeouts

China is very entrepreneurial but has no rule of law. Europe has rule of law but isn't entrepreneurial. Combine rule of law, entrepreneurialism and a generally pro-business policy, and you have Apple.

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

I would say the consumer Internet companies - in a lot of ways, if you go inside the consumer Internet companies and you see how they run, it's how all their businesses are going to run.

The multipurpose device will always fail.

Today's stock market actually hates technology, as shown by all-time low price/earnings ratios for major public technology companies