Big part of the challenge to innovation is that people too easily resign themselves to dying.

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

The best entrepreneurs know this: every great business is built around a secret that’s hidden from the outside. A great company is a conspiracy to change the world; when you share your secret, the recipient becomes a fellow conspirator.

Under perfect competition, in the long run no company makes an economic profit.

I believe we are in a world where innovation in stuff was outlawed. It was basically outlawed in the last 40 years - part of it was environmentalism, part of it was risk aversion.

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?

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