In a world where wealth is growing, you can get away with printing money. Doubling the debt over the next 20 years is not a problem.

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

I think we have a bubble in the US in government bonds, because of the quantitative easing and the negative real interest rates, and to some extent, that increases asset values across the board, including in startups.

We might describe our world as having retail sanity, but wholesale madness.

When you already have $150 billion a year in revenues from the iPhone, it's very hard to come up with any new vertical that will sort of move the dial. And there's this sort of weird effect where the larger a company gets, the harder it is to come up with any new product that really moves the dial.

Education needs to be rethought. Education does not just happen in college, but it also happens in developing skills which will enable people to contribute to our society as a whole.

If you focus on near-term growth above all else, you miss the most important question you should be asking: will this business still be around a decade from now?