We can believe that we know where the world should go. But unless we're in touch with our customers, our model of the world can diverge from reality. There's no substitute for innovation, of course, but innovation is no substitute for being in touch, either.

I think these things social networks are going to have some legs,and yet there's a faddishness, a faddish nature about anything that basically appeals to younger people.

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.

Look at the product pipeline, look at the fantastic financial results we've had for the last five years. You only get that kind of performance on the innovation side, on the financial side, if you're really listening and reacting to the best ideas of the people we have.

Baseball is a set of individuals doing their thing in the same team, but it's much more individual. In basketball people are making real time decisions about who gets the ball, do we trust everybody out on the court, and the analytics certainly don't show you all those subtle dynamics, but they're very important.

There is such an overvaluation of technology stocks that it is absurd. I would include our stock in that category. It is bad for the long-term worth of the economy.

No. 1 thing is that life is just not as interrupt-driven as when you're running a company.