Steve Jobs always believed that you didn't want to do focus groups or research and ask people what they wanted. You wanted to create products that they didn't know they wanted yet and they would fall in love with. And I think that was part of the magic of his design philosophy.

And so the idea was, well maybe you can take an Atari video game machine, where people plug in a game cartridge, and plug in a modem, and tie that into a telephone, and essentially turn that game in the machine into an interactive terminal.

When I first got started in the late '70s, early '80s, and first was thinking about the interactive world, I believed so fervently that it was the next big thing, I thought it would happen quickly.

When I was trying to popularize the concept of the Internet - ten or 15 years ago - I came up with this concept of "the 5 Cs." Services needed to have content, context, community, commerce, and connectivity. After that, when I was trying to think of what the key management principles were to build into the culture, I started talking about the Ps. The P's were things like passion, perseverance, perspective and people. I think the people aspect is really the most important one.

The idea that maybe you don't have to own a car if you only need one occasionally may catch on, just like time-sharing caught on in real estate

I want to find people who have had to work hard and who have learned from their failures. Perseverance is no guarantee you’ll succeed, but without it, it’s almost guaranteed you won’t.

You're not just trying to do something marginally, incrementally better. You're doing something that is a fundamental paradigm shift, that will have exponential impact. That means it's harder to do, but ultimately, if it's successful, the impact it has is far greater.