Customers always want something new

I'm convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance... Unless you have a lot of passion about this, you're not going to survive. You're going to give it up. So you've got to have an idea, or a problem or a wrong that you want to right that you're passionate about otherwise you're not going to have the perseverance to stick it through.

When companies get bigger they try to replicate their success. But they assume their magic came from process. They try to use processes to substitute content.

We're going to be able to ask our computers to monitor things for us, and when certain conditions happen, are triggered, the computers will take certain actions and inform us after the fact.

At Apple, people are putting in 18-hour days. We attract a different type of person—a person who doesn’t want to wait five or ten years to have someone take a giant risk on him or her. Someone who really wants to get in a little over his head and make a little dent in the universe. We are aware that we are doing something significant. We’re here at the beginning of it and we’re able to shape how it goes. Everyone here has the sense that right now is one of those moments when we are influencing the future.

I get asked a lot why Apple's customers are so loyal. It's not because they belong to the Church of Mac! That's ridiculous.

We've demonstrated a strong track record of being very disciplined with the use of our cash. We don't let it burn a hole in our pocket, we don't allow it to motivate us to do stupid acquisitions. And so I think that we'd like to continue to keep our powder dry, because we do feel that there are one or more strategic opportunities in the future.