I think we can be the very best place to start a business, to grow a business, to invent a new technology, to change the world, to change the country. But we've got a lot of work to deliver a new California to the people of California.

Well, California used to be in the dream-making business, and unfortunately what's happened I think we're now in the dream-breaking business.

For me, the international expansion of eBay was the best idea. We are now in 35 countries, and have a huge global network. The second best one was the acquisition of PayPal - the wallet on eBay.

A business leader has to keep their organization focused on the mission. That sounds easy, but it can be tremendously challenging in today's competitive and ever-changing business environment. A leader also has to motivate potential partners to join.

Look at growth, look at how much time people spend on the Net and look at the variety of things that they are doing. It's all really good, so I am actually encouraged by the fundamentals that underlie usage growth on the Net.

The fact that used cars is our largest category is a good example. We would not have sat in a conference room and said, "Hey, how about used cars?" So what can be learned that is extensible to other companies is to ask what are your customers doing with your products that maybe you didn't anticipate that they would do? How do you think of your customers as your research and development lab, as opposed to having an R&D lab at headquarters?

People ask me, how is managing in the New Economy different from managing in the Old Economy? Actually, it's a lot the same. It's about the financial discipline of the bottom line, understanding your customers, segmenting your customers by their needs, and building a world-class management team.