Every kid coming out of Harvard, every kid coming out of school now thinks he can be the next Mark Zuckerberg, and with these new technologies like cloud computing, he actually has a shot.

My own theory is that we are in the middle of a dramatic and broad technological and economic shift in which software companies are poised to take over large swathes of the economy

We call it the 'Rule of Crappy People'. Bad managers hire very, very bad employees, because they're threatened by anybody who is anywhere near as good as they are.

So I came from an environment where I was starved for information, starved for connection.

At Microsoft, they all rock back and forth like Gates, they wear the same glasses, they have the same hair style. Maybe they grow them in tanks.

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.

TV and the press have always functioned according to the same sets of rules and technical standards. But the Internet is based on software. And anybody can write a new piece of software on the Internet that years later a billion people are using.