The debt austerity would not be problems if we had technological progress. If you doubled the debt in the U.S., and the size of the economy doubled because of technological progress and growth, the two would roughly cancel out and it would all be a totally manageable situation.

In a world of scarce resources, globalization without new technology is unsustainable.

The developing world can just do things that are extensive or horizontal, that basically copy. The developed world needs to do things that are intensive or vertical, where we take our civilization to the next level.

I'm always very excited about trying to do something on next-generation biotechnology and life sciences because I think if we can cure cancer or dementia, we can really make the future a lot better and I think these things are eminently doable.

Value investors look at cash flows. If a company can maintain present cash flows for 5 or 6 years, it’s a good investment. Investors then just hope that those cash flows - and thus the company’s value - don’t decrease faster than they anticipate.

Luck is like an atheistic word for God.

I'm skeptical of a lot of what falls under the rubric of education.... People are on these tracks. They are getting these credentials and it's very unclear how viable they are in many cases.