Guess what? The world changes. eBay has defined e-commerce.

One good thing about California is we have quite a broad-based economy. We provide more fruits and vegetables and produce to the United States than any other state. So we have actually the single largest agricultural sector in the country.

We also need to reduce corporate tax rates. This applies to small, medium and large businesses. At 35 percent, we have the second highest corporate rates in the world. It restricts the growth of small enterprises that need to plow capital back into their businesses and forces companies and jobs to move overseas.

Regulation is strangling businesses of all sizes in California, and we've got to streamline regulation so it's easy, not hard. to do business.

When a small business grows like eBay did, it has a multiplier effect. It creates other small businesses that supply it with intellectual capital, goods and services.

What's sort of interesting about the whole public relations disaster that is the Net, in some ways, is that the fundamentals are really good.

Silicon Valley is 130 miles from Sacramento, but it might as well be a million miles away given how it operates.