If you think about basic science or coming up with new theories of mathematics, these are not the kinds of things which are necessarily a well-defined market to pay people.

Monopoly is the condition of every successful business.

Rivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past.

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

You have as much computing power in your iPhone as was available at the time of the Apollo missions. But what is it being used for? It’s being used to throw angry birds at pigs; it’s being used to send pictures of your cat to people halfway around the world; it’s being used to check in as the virtual mayor of a virtual nowhere while you’re riding a subway from the nineteenth century.

One of the reasons I think people are increasingly nervous about U.S. debt is because they think that we are not actually digging ourselves out of the hole, but instead are digging ourselves into a deeper and deeper hole and will not be able to pay it back because we're not actually creating the new technologies that will enable us to pay back and the money somehow is not really being invested in the future or in progress.

In the '30s, the Keynesian stuff worked at least in the sense that you could print money without inflation because there was all this productivity growth happening. That's not going to work today.