The college kids should think hard about what they're doing. If you have a great idea for a company, there's no right time to start it, and it's often better to start it sooner rather than later. I went to Stanford undergrad and Stanford Law School, and if I had to do it over again, I might still do those things, but I wish I had asked the type of questions like, why I was doing it, was it just for the status and prestige, or was it because I was really interested in the substance of it.

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

Technology and capitalism are very much linked. I think that capitalism probably works best in a technologically progressing society.

Distribution may not matter in fictional worlds, but it matters in most. The Field of Dreams conceit is especially popular in Silicon Valley, where engineers are biased toward building cool stuff rather than selling it. But customers will not come just because you build it. You have to make this happen, and it's harder than it looks.

Never invest in a tech CEO that wears a suit.

Long-term planning is often undervalued by our indefinite short-term world.

What nerds miss is that it takes hard work to make sales look easy.