Nokia and Research in Motion needed a modern operating system. They could have bought Palm or Android before Google did, but they didn't. Today, it's probably too late, and at the time they would have been criticized for overpaying, but as they say - shift happens.

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.

When I started Netscape I was brand new out of college and all the aspects of building a business, like balance sheets and hiring people, were new to me.

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.

I know where I'm putting my 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.

The good news is we had this idea of cloud computing. The bad news is we were 10 years too early.