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 think markets are often not thinking on a long-time horizon, I think that our government structurally is doing even less so. When we have a government where we have people who are up for election at most once every six years for a U.S. senator, that's a time horizon that is much shorter than in a market that a company is looking at 10, 15, 20 years which is a time horizon over which a stock price is typically valued.

You'll attract the employees you need if you can explain why your mission is compelling: not why it's important in general, but why you're doing something important that no one else is going to get done.

If you think about basic science or coming up with new theories of mathematics, these are not the kinds of things which are necessarily a well-defined market to pay people.

Recruiting is a core competency for any company. It should never be outsourced.

Every business is successful exactly to the extent that it does something others cannot.

In the '30s, the Keynesian stuff worked at least in the sense that you could print money without inflation because there was all this productivity growth happening. That's not going to work today.