Imagine the world of mobile based on Nokia and Motorola if Apple had not been restarted by a missionary entrepreneur named Steve Jobs who cared more for his vision than being tactical and financial.

I've probably failed more often than anybody else in Silicon Valley. Those don't matter. I don't remember the failures. You remember the big successes.

The first rule of venture capitalism is hands-on experience. You have to get your hands dirty.

Communication always changes society, and society was always organized around communication channels. Two hundred years ago it was mostly rivers. It was sea-lanes and mountain passes. The Internet is another form of communication and commerce. And society organizes around the channels.

Seeking an acquisition from the start is more than just bad advice for an entrepreneur. For the entrepreneur it leads to short term tactical decisions rather than company-building decisions and in my view often reduces the probability of success.

Startups allow technologists and scientists to take risks and change plans in a way that would be frowned upon in a big company. Having said that, big companies will play a key role in certain areas and in partnerships with little companies. Each has its strengths.

Big data will replace the need for 80% of all doctors