Had the people who started Facebook decided to stay at Harvard, they would not have been able to build the company, and by the time they graduated in 2006, that window probably would have come and gone.

If people were super-optimistic about technology there would be no reason to be pessimistic about the future.

Every tech story is different. Every moment in history happens only once. All successful companies are successful in their own unique way. It's your task to figure out what that future history will be.

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

In the developed world, technological progress means that you can have a situation where there's growth, where there's a way in which everybody can be better off over time.

The most fundamental reason that even businesspeople underestimate the importance of sales is the systematic effort to hide it at every level of every field in a world secretly driven by it.

It is sort of a bit of a caricature of capitalism, that it's always this zero-sum game where you have winners and losers. Silicon Valley, the technology industry at its best, creates a situation where everybody can be a winner.