When you already have $150 billion a year in revenues from the iPhone, it's very hard to come up with any new vertical that will sort of move the dial. And there's this sort of weird effect where the larger a company gets, the harder it is to come up with any new product that really moves the dial.

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

There are many more secrets in the world that are waiting to be found. The question of how many secrets exist in our world is roughly equivalent to how many startups people should start.

Monopoly is the condition of every successful business.

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.

The most contrarian thing of all is not to oppose the crowd but to think for yourself.

When you are starting a new business you don't want to go after giant markets. You want to go after small markets and take over those markets quickly.