Using technology merely to lower operational costs amounts to standing on a whale fishing for minnows. It just allows you to do the old thing more efficiently, where in this moment of deep transformation, it is much more likely that you should be doing something entirely new in an entirely different way.

Though I carry enough electronics to get nervous in a lightning storm, I love paper and I always have a Moleskine journal with me to capture notes, conversations and ideas.

This new economy that's just emerged has a new central economic actor. It's not the worker, the person who produces, nor the person who consumes, the purchaser. It's a new actor that does both things at the same time, call them a creator. They both create and consume in the same single act, and we're just beginning to see the shape of this new economy and it changes not just the economy itself, it's going to change the whole nature of the work relationship.

It's interesting to see the lament of each generation overwhelmed by the next new tool. I can show you passages from scholars of Germany in the 1480s lamenting the fact that they are overloaded with all this stuff to read because of the printing press.

If you look at the last 150 years, about every 30 years or so, a new scientific discipline emerges that starts spinning out technologies and capturing people's imaginations. Go back to 1900: That industry was chemistry. People had chemistry sets. In the 1930s, it was the rise of physics and physicists. They build on each other. Chemists laid the experimental understanding for the physicists to build their theories. It was three physicists who invented the transistor in 1947. That started the information revolution. Today, kids get computers.

This new world of personal media - the Web, the Internet and et cetera - not only delivers the world to your living rooms, but everywhere. And we get to answer back. And we're expected to answer back.

I think the most important thing that a company can do, not just in the customer space but the employee space, is to be completely open and completely honest. Don't pretend that you're doing something that you can not do. There's an old saying in Silicon Valley, "It's not a bug. It's a feature."