The next Google or Facebook will come from somewhere other than Silicon Valley.

With our work at Kazaa, we began seeing growing broadband connections and more powerful computers and more streaming multimedia, and we saw that the traditional way of communicating by phone no longer made a lot of sense.

We have 2 million users in the U.S. and about 13 million worldwide in more than 200 countries. We're getting 80,000 new users each day. And more than half a million people are connected via Skype at any given moment.

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.

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.

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.

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