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.

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 resources you happen to accumulate, what do you do with them? You can spend the money and buy some houses or whatever, and people do some of that and that's fine. You can give the money to other people, your family, but usually when you do that you screw them up and it ends up counterproductive. Or, you take those resources and reinvest them in things that you believe in, and that could be reinvesting in a philanthropic cause.

You really need to believe that you are on to something important.

Most of the people who had PCs did not have modems and could not use those PCs as communicating devices. They really were using them for spreadsheets or word processing or storing recipes or playing games or what have you.

In the entrepreneurial world, when you launch a company, you have a particular idea, a particular product, a particular service, almost always you pivot, you shift. The market reacts to your initial idea. You make some adjustments. It's only after making a few adjustments that you see the success.

You shouldn't focus on why you can't do something, which is what most people do. You should focus on why perhaps you can, and be one of the exceptions.