On the back end, software programming tools and Internet-based services make it easy to launch new global software-powered start-ups in many industries - without the need to invest in new infrastructure and train new employees.

One of the advantages of moving quickly is if you do something wrong you can change it.

At a certain point in your career - I mean, part of the answer is a personal answer, which is that at a certain point in your career, it becomes more satisfying to help entrepreneurs than to be one.

Health care and education, in my view, are next up for fundamental software-based transformation.

Rule 1: All rules can be broken. Many (ex-legal and ethical) should be. Most people won't.

Newspapers with declining circulations can complain all they want about their readers and even say they have no taste. But you will still go out of business over time. A newspaper is not a public trust - it has a business model that either works or it doesn't.

Any new technology tends to go through a 25-year adoption cycle.