My goal is not to fail fast. My goal is to succeed over the long run. They are not the same thing.

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

I know where I'm putting my money.

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.

Breakthrough ideas look crazy, nuts. It’s hard to think this way — I see it in other people’s body language, and I can feel it in my own, where I sometimes feel like I don’t even care if it’s going to work, I can’t take more change. O.K., Google, O.K., Twitter—but Airbnb? People staying in each other’s houses without there being a lot of axe murders?

No one should expect building a new high-growth, software-powered company in an established industry to be easy. It's brutally difficult.

There is a constant need for new systems and new software.