But innovation comes from people meeting up in the hallways or calling each other at 10:30 at night with a new idea, or because they realized something that shoots holes in how we've been thinking about a problem.

I'm sorry, it's true. Having children really changes your view on these things. We're born, we live for a brief instant, and we die. It's been happening for a long time. Technology is not changing it much - if at all.

When you're in a start-up, the first ten people will determine whether the company succeeds or not. Each is 10 percent of the company. So why wouldn't you take as much time as necessary to find all the A players? If three were not so great, why would you want a company where 30 percent of your people are not so great? A small company depends on great people much more than a big company does.

Stay hungry, stay foolish.

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.

It's not about charisma and personality, it's about results and products and those very bedrock things that are why people at Apple and outside of Apple are getting more excited about the company and what Apple stands for and what its potential is to contribute to the industry.

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.