First, only invest in companies that have the potential to return the value of the entire fund.

Superior sales and distribution by itself can create a monopoly, even with no product differentiation. The converse is not true. No matter how strong your product-even if it easily fits into already established habits and anybody who tries it likes it immediately-you must still support it with a strong distribution plan.

Great tech opportunities happen only once.

A true bubble is when something is overvalued and intensely believed.

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

A lot of the key to Apple's succes is Designing technology in order to hide it.

Higher education is the place where people who had big plans in high school get stuck in fierce rivalries with equally smart peers over conventional careers like management consulting and investment banking. For the privilege of being turned into conformists, students (or their families) pay hundreds of thousands of dollars in skyrocketing tuition that continues to outpace inflation. Why are we doing this to ourselves?