Tech stocks are trading at a 30-year-low when compared to the multiples of industrials (companies). Its the weirdest bubble when everyone hates everything.

There are people who are wired to be skeptics and there are people who are wired to be optimists. And I can tell you, at least from the last 20 years, if you bet on the side of the optimists, generally you’re right.

Today's stock market actually hates technology, as shown by all-time low price/earnings ratios for major public technology companies

Today's leading real-world retailer, Wal-Mart, uses software to power its logistics and distribution capabilities, which it has used to crush its competition

Over the next 10 years, I expect many more industries to be disrupted by software, with new world-beating Silicon Valley companies doing the disruption in more cases than not.

Once you understand that everybody's going to get connected, a lot of things follow from that. If everybody gets the Internet, they end up with a browser, so they look at web pages - but they can also leave comments, create web pages. They can even host their own server! So not only is everybody consuming, they can also produce.

Most of the big breakthrough technologies/companies seem crazy at first: PCs, the internet, Bitcoin, Airbnb, Uber, 140 characters.. It has to be a radical product. It has to be something where, when people look at it, at first they say, ‘I don’t get it, I don’t understand it. I think it’s too weird, I think it’s too unusual.’