The advantage of the consumer businesses is they tend to be much broader-based, much larger number of customers, that tend to over time be a lot more predictable. The advantage of the enterprise companies is they are not as subject to consumer trend, fad, behavior.

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

Breakthrough ideas look crazy, nuts. It’s hard to think this way — I see it in other people’s body language, and I can feel it in my own, where I sometimes feel like I don’t even care if it’s going to work, I can’t take more change. O.K., Google, O.K., Twitter—but Airbnb? People staying in each other’s houses without there being a lot of axe murders?

These days, you have the option of staying home, blogging in your underwear, and not having your words mangled. I think I like the direction things are headed.

The transformation of Apple is probably the biggest tech story of the last 15 years.

No one should expect building a new high-growth, software-powered company in an established industry to be easy. It's brutally difficult.

In the startup world, you're either a genius or an idiot. You're never just an ordinary guy trying to get through the day