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

Almost every dot-com idea from 1999 that failed will succeed.

China is very entrepreneurial but has no rule of law. Europe has rule of law but isn't entrepreneurial. Combine rule of law, entrepreneurialism and a generally pro-business policy, and you have Apple.

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

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

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

These days, you have the option of staying home, blogging in your underwear, and not having your words mangled. I think I like the direction things are headed.