Getting the big things right that make all the money, that's long cycle, really executing in a way that allows you to do it, that's short cycle.

The company I invested in is probably a leader in that area. They're a company called Second Spectrum, which happens to be based in LA but was started by two USC computer-science professors. It's filled with guys who love sports, who played sports, but really look like programmers.

I want to make sure (a user) can't get through ... an online experience without hitting a Microsoft ad.

The number one benefit of information technology is that it empowers people to do what they want to do. It lets people be creative. It lets people be productive. It lets people learn things they didn't think they could learn before, and so in a sense it is all about potential.

Developers, developers, developers...

I can tell you first-hand from my experiences with Sacramento, the league does try to honor the fan bases it has, and encourage teams to stay in their home markets.

From a client perspective, I really think the work Microsoft's doing with Surface, with HoloLens, with Xbox, that stuff's absolutely essential to the company's future. Because innovation in the future will either be from the cloud out to all devices, or from devices as supported by software in the cloud. I think it's important for Microsoft to participate both ways.