The gulf between what the press and many regular people believe Bitcoin is, and what a growing critical mass of technologists believe Bitcoin is, remains enormous.

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.

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.

There was a point in the late '90s where all the graduating M.B.A.'s wanted to start companies in Silicon Valley, and for the most part they were not actually qualified to do it.

Any new technology tends to go through a 25-year adoption cycle.

There's a new generation of entrepreneurs in the Valley who have arrived since 2000, after the dotcom bust. They're completely fearless.

There's always more demands than there's time to meet them, so it's constantly a matter of trying to balance them