Wisdom worth sharing, words worth remembering.
Around '93 '94 the conventional wisdom about the Internet was that it was a toy for academics and researchers. So it was very very underestimated for about two years.
I love what the Valley does. I love company building. I love startups. I love technology companies. I love new technology. I love this process of invention. Being able to participate in that as a founder and a product creator or as an investor or a board member I just find that hugely satisfying.
There is an enormous market demand for information. It just has to be fulfilled in a way that fits with the technology of our times.
You are cruising along and then technology changes. You have to adapt.
An awful lot of successful technology companies ended up being in a slightly different market than they started out in.
Today's stock market actually hates technology as shown by all-time low price/earnings ratios for major public technology companies.
Any new technology tends to go through a 25-year adoption cycle.
In the next 10 years I expect at least five billion people worldwide to own smartphones giving every individual with such a phone instant access to the full power of the Internet every moment of every day.
Today's leading real-world retailer Wal-Mart uses software to power its logistics and distribution capabilities which it has used to crush its competition.
More and more major businesses and industries are being run on software and delivered as online services – from movies to agriculture to national defense.
If you're the village blacksmith and a model T comes along you better become a mechanic. People's lives are better when they get news online versus having to wait for the morning paper. It's a lot more efficient a lot more real time a lot less waste.
If I want to get work done that's usually about 3 in the morning.
