Twitter is hard to evaluate. They have a lot of potential. It's a horribly mismanaged company — probably a lot of pot-smoking going on there. But it's such a solid franchise it may even work with all that.

I do tend to think that things that have incredibly long time horizons often do involve market failures.

It's a horribly mismanaged company-probably a lot of pot smoking going on there.

My own answer to the contrarian question is that most people think the future of the world will be defined by globalization, but the truth is that technology matters more.

A startup is the largest endeavor over which you can have definite mastery. You can have agency not just over your own life, but over a small and important part of the world. It begins by rejecting the unjust tyranny of Chance. You are not a lottery ticket.

Probably the most extreme form of inequality is between people who are alive and people who are dead.

You want to be the last company in a category. Those are the ones that are really valuable.