Around '93, '94, the conventional wisdom about the Internet was that it was a toy for academics and researchers. So it was very, very underestimated for about two years.

In the next 10 years, I expect at least five billion people worldwide to own smartphones, giving every individual with such a phone instant access to the full power of the Internet, every moment of every day.

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.

I've been an entrepreneur three times. I started three companies.

You only ever experience two emotions: euphoria and terror. And I find that lack of sleep enhances them both.

The gulf between what the press and many regular people believe Bitcoin is, and what a growing critical mass of technologists believe Bitcoin is, remains enormous.

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.