In the startup world, you're either a genius or an idiot. You're never just an ordinary guy trying to get through the day

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

More and more major industries are being run on software and delivered as online services—from movies to agriculture to national defense. Many of the winners are Silicon Valley-style entrepreneurial technology companies that are invading and overturning established industry structures. 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.

The transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate.

TV and the press have always functioned according to the same sets of rules and technical standards. But the Internet is based on software. And anybody can write a new piece of software on the Internet that years later a billion people are using.

People tend to think of the web as a way to get information or perhaps as a place to carry out e-commerce. But really, the web is about accessing applications.

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.