For a new payment product, you always have to ask, how much better is it than the current solution? So when we started Paypal, for eBay micro merchants, it was much better than getting the 7 to 10 days process of cashing a check in the mail. When you look at stores or physical worlds, places, a lot of these places are already set up to take cash or credit card. Apple Pay may be an incremental improvement, maybe a little bit better. But when you have something that's pretty good and you go to something that's perfect, sometimes it's very hard to drive adoption because the delta is not that big.

The zero-sum world [the movie The Social Network] portrayed has nothing in common with the Silicon Valley I know, but I suspect it's a pretty accurate portrayal of the dysfunctional relationships that dominate Hollywood.

I no longer believe that freedom and democracy are compatible.

For Hamlet, greatness means willingness to fight for reasons as thin as an eggshell: anyone would fight for things that matter; true heroes take their personal honor so seriously they will fight for things that don’t matter.

You'll attract the employees you need if you can explain why your mission is compelling: not why it's important in general, but why you're doing something important that no one else is going to get done.

Luck is like an atheistic word for God.

I do tend to think that things that have incredibly long time horizons often do involve market failures.