There is a constant need for new systems and new software.
I don't like to not call a spade a spade.
Companies in every industry need to assume that a software revolution is coming.
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.
There was a point in the late '90s where all the graduating M.B.A.'s wanted to start companies in Silicon Valley, and for the most part they were not actually qualified to do it.
Where I grew up, we had the three TV networks, maybe two radio stations, no cable TV. We still had a long-distance party line in our neighborhood, so you could listen to all your neighbors' phone calls. We had a very small public library, and the nearest bookstore was an hour away.
It's really rare for people to have a successful start-up in this industry without a breakthrough product. I'll take it a step further. It has to be a radical product. It has to be something where, when people look at it, at first they say, 'I don't get it, I don't understand it. I think it's too weird, I think it's too unusual.'
Our combination of great research universities, a pro-risk business culture, deep pools of innovation-seeking equity capital and reliable business and contract law is unprecedented and unparalleled in the world.
If I want to get work done, that's usually about 3 in the morning.
And once you get instantaneous communication with everybody, you have economic activity that's far more advanced, far more liquid, far more distributed than ever before.
Almost every dot-com idea from 1999 that failed will succeed.
Many of the best firms historically in venture capital have been multi-sector.
If you're unhappy, you should change what you're doing.
More and more major businesses and industries are being run on software and delivered as online services - from movies to agriculture to national defense.
Today's stock market actually hates technology, as shown by all-time low price/earnings ratios for major public technology companies.
There's no such thing as median income; there's a curve, and it really matters what side of the curve you're on. There's no such thing as the middle class. It's absolutely vanishing.
One of the advantages of moving quickly is if you do something wrong you can change it. What technologies tend to do is they tend to make a lot of mistakes... but then we go back and aggressively attack those mistakes - and fix them. And you usually recover pretty quickly.
The good news about building a company during times like this is that the companies that do succeed are going to be extremely strong and resilient.
There's a new generation of entrepreneurs in the Valley who have arrived since 2000, after the dotcom bust. They're completely fearless.
An awful lot of successful technology companies ended up being in a slightly different market than they started out in.
Aaron Sorkin was completely unable to understand the actual psychology of Mark or of Facebook. He can't conceive of a world where social status or getting laid or, for that matter, doing drugs, is not the most important thing.
The reality is the world is a really, really big place, and there's a lot of people running around with a lot on their mind. And you really have to figure out how to build a company that can put on a message that can actually reach people and have an impact globally.
Organizations spend hundreds of hours and hundreds of thousands of dollars installing and implementing huge servers, new Web sites and applications. They have to continue to do that, but they also have to clean up the mess of the '90s.
Innovation accelerates and compounds. Each point in front of you is bigger than anything that ever happened.
I am bullish on the global development. I am bullish on billions of people getting out of poverty.
I would say the consumer Internet companies - in a lot of ways, if you go inside the consumer Internet companies and you see how they run, it's how all their businesses are going to run.
Google is working on self-driving cars, and they seem to work. People are so bad at driving cars that computers don't have to be that good to be much better.
Practically everyone is going to have a general purpose computer in their pocket, it's so easy to underestimate that, that has got to be the really, really big one.
So I came from an environment where I was starved for information, starved for connection.
You go on Facebook, you buy social advertising. And you can very cost-effectively target people who are in the market for your product from all over the world.
This has been a trend for a long time; the days of lifetime employment are long since over.
People tend to think of the web as a way to get information or perhaps as a place to carry out ecommerce. But really, the web is about accessing applications. Think of each website as an application, and every single click, every single interaction with that site, is an opportunity to be on the very latest version of that application.