I don't waste time being depressed.

Innovation doesn't come from the big company. It never has and never will. Innovation is something new that looks crazy at first glance. It comes from the 19-year-olds and the start-ups that no one's heard of.

Perhaps the single most dramatic example of this phenomenon of software eating a traditional business is the suicide of Borders and corresponding rise of Amazon

The difference between a vision and a hallucination is that other people can see the vision.

I don't think objectively we are in a tech bubble when tech stocks are at a 30 year low.

We have never lived in a time with the opportunity to put a computer in the pocket of 5 billion people.

The good news about building a company during times like this is that the companies that do succeed are going to be extremely strong and resilient.