I live on a canyon at the edge of San Mateo. We are fortunate to have lots of suburban wildlife as our neighbors, though I kind of wish the rattlesnakes would stop curling up by our back door.

The most important thing that a company can do in the midst of this economic turmoil is to not lose sight of the long-term perspective. Don't confuse the short-term crises with the long-term trends. Amidst all of these short-term change are some fundamental structural transformations happening in the economy, and the best way to stay in business is to not allow the short-term distractions to cause you to ignore what is happening in the long term.

When everybody else is in a down market is focusing on what they're doing wrong, instead focus on what you should be doing differently, it may be that what you did in the past was perfectly right. It is possible to do all the right things in business and still have a business crisis because of what's happening in the external environment. And if you start focusing on mistakes only, you're going to miss opportunities.

We do need to rethink privacy. I think we need to fall back on (former Supreme Court Justice) Felix Frankfurter's definition of privacy which is, "Privacy is the right to be left alone."

The difference between our collective generation and your generation (differentiating the reporters from the students) is that we poured our souls out on paper that got easily yellowed and lost. The danger is that many of your friends (nodding at the students) are putting intimate ideas in cyberspace journals. So when today's 15-year-old is 40, some friend is going to drag out all of that idiotic stuff at their class reunion.

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.

I worry about a society that can remember everything.