Then people started using it more and more and it became the most downloaded software on the internet.

When a business becomes successful seemingly overnight, no one knows about all the months and years you've invested, all the projects you've tried before that didn't work.

Another differentiator is that Skype is free and simple to set up, and it costs us virtually nothing for a new user to join the Skype network, which is why we can offer the service for free.

Look for when the environment is changing - the big shift now is mobile Internet. It's really happening big-time. The way you interact with services on a smart phone compared to the Web is quite different, so there's a huge opportunity.

The Chinese market is very, very unique.

Some Internet operators are concerned that video services such as Netflix and YouTube consume lots of the bandwidth on the network. While there is some truth to this, my guess is that the operators wished they could provide the same kind of services with the same success as Netflix and YouTube.

As an investor, what we're not looking for is 'oh this is a cool app,' it's 'is this something that can become a big business?' You need to find those that can become real businesses.