They also can combine voice with instant messaging and online file sharing.

We have just started, and if you compare the number of people using Skype to the number using a telephone network around the world, we're still just starting.

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.

I try not to dwell on big mistakes but to move on when I make a mistake. I make mistakes most of the times and that's part of the risk profile being an entrepreneur. I guess one big mistake I did was not to start my own company earlier. I spent nine years working for others before starting Kazaa in 2000.

If you want to be an entrepreneur, it's not a job, it's a lifestyle.

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.

You shouldn't be afraid of failure - when something fails, you think, 'What did I learn from that experience? I can do better next time.' Then kill that project and move on to the next. Don't get disappointed.