In order to learn how to do something well, you have to fail sometimes. In order to fail, there has to be a measurement system. And that's the problem with most philanthropy - there's no measurement system. You give somebody some money to do something and most of the time you can really never measure whether you failed or succeeded in your judgment of that person or his ideas or their implementation.

So let's not use a stylus. We're going to use the best pointing device in the world. We're going to use a pointing device that we're all born with - born with ten of them. We're going to use our fingers. We're going to touch this with our fingers. And we have invented a new technology called multi-touch, which is phenomenal. It works like magic.

First was the mouse. The second was the click wheel. And now, we're going to bring multi-touch to the market. And each of these revolutionary interfaces has made possible a revolutionary product - the Mac, the iPod and now the iPhone.

Woz and I started Apple in my parents' garage when I was 20. We worked hard, and in 10 years Apple had grown from just the two of us in a garage into a $2 billion company with over 4,000 employees.

There's nothing that makes my day more than getting an e-mail from some random person in the universe who just bought an iPad over in the UK and tells me the story about how it's the coolest product they've ever brought home in their lives. That's what keeps me going.

Team, it turned out that Michael Dell wasn't perfect at predicting the future. Based on today's stock market close, Apple is worth more than Dell. Stocks go up and down and things may be different tomorrow but I thought it was worth a moment of reflection today.

As individuals, people are inherently good. I have a somewhat more pessimistic view of people in groups. And I remain extremely concerned when I see what's happening in our country, which is in many ways the luckiest place in the world. We don't seem to be excited about making our country a better place for our kids.