Innovation has nothing to do with how many R&D dollars you have. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. It's not about money. It's about the people you have, how you're led, and how much you get it.

We're just enthusiastic about what we do.

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.

Our approach is to think of companies not as businesses but as collections of people. We [Apple]want to qualitatively change the way people work. We don't just want to help them do word processing faster or add numbers faster. We want to change the way they can communicate with one another. We're seeing less paper flying around and more quality of communication.

Everyone here has the sense that right now is one of those moments when we are influencing the future.

What had been the focus of my entire adult life was gone, and it was devastating. I didn't really know what to do for a few months. I felt that I had let the previous generation of entrepreneurs down. I was a very public failure.

I think if you do something and it turns out pretty good, then you should go do something else wonderful, not dwell on it for too long. Just figure out what's next.