When we look at investing, we always think about 'how defensible is this, how likely is it that somebody is going to copy this.' E-commerce tends to be something easy to copy because it's execution.

If you want to be an entrepreneur, it's not a job, it's a lifestyle. It defines you. Forget about vacations, about going home at 6 pm - last thing at night you'll send emails, first thing in the morning you'll read emails, and you'll wake up in the middle of the night. But it's hugely rewarding as you're fulfilling something for yourself.

And the VCR did the same thing: the movie industry thought nobody would ever watch movies any more.

You have 1 billion people using the Internet with 200 million of those now using broadband internet connections, so the Internet has become a powerful network. It can carry calls.

It is very similar to companies like Google and other internet companies. When you go and search on Google you don't pay for that. But sometimes you click on an advert and Google makes money on that.

Today as an entrepreneur you have more options.

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.