It's a horribly mismanaged company-probably a lot of pot smoking going on there.

Secrets are hard but solvable problems and we should talk about them. It's hard to work toward a radically better future if you don't believe in secrets.

I think that markets classically fail in cases where there are public goods that provide benefits that people cannot capture. The big debate is how big these public goods are, where they exist, things of that sort.

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

I think anything that requires real global breakthroughs requires a degree of intensity and sustained effort that cannot be done part time, so it's something you have to do around the clock, and that doesn't compute with our existing educational system.

University administrators are the equivalent of subprime mortgage brokers selling you a story that you should go into debt massively, that it's not a consumption decision, it's an investment decision. Actually, no, it's a bad consumption decision. Most colleges are four-year parties.

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.