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.

Skype is easy enough to use so that people don't need to be tech savvy - a lot of users just want to communicate with their friends and family, and they find this is the easiest, cheapest way.

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.

Skype is for any individual who has a broadband Internet connection.

When radio stations started playing music the record companies started suing radio stations. They thought now that people could listen to music for free, who would want to buy a record in a record shop? But I think we all agree that radio stations are good stuff.

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.

The telephone is a 100-year-old technology. It's time for a change. Charging for phone calls is something you did last century.