My own theory is that we are in the middle of a dramatic and broad technological and economic shift in which software companies are poised to take over large swathes of the economy
In a startup, absolutely nothing happens unless you make it happen.
The difference between a vision and a hallucination is that other people can see the vision.
In the startup world, you're either a genius or an idiot. You're never just an ordinary guy trying to get through the day
There are people who are wired to be skeptics and there are people who are wired to be optimists. And I can tell you, at least from the last 20 years, if you bet on the side of the optimists, generally you’re right.
In short, software is eating the world
Innovation doesn't come from the big company. It never has and never will. Innovation is something new that looks crazy at first glance. It comes from the 19-year-olds and the start-ups that no one's heard of.
Most of the big breakthrough technologies/companies seem crazy at first: PCs, the internet, Bitcoin, Airbnb, Uber, 140 characters.. 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.’
My goal is not to fail fast. My goal is to succeed over the long run. They are not the same thing.
People who tell computers what to do, and people who are told by computers what to do.
The 2 hardest things you'll have to do when running a company are recruiting and talking people out of leaving.
You only ever experience two emotions: euphoria and terror. And I find that lack of sleep enhances them both.
You are cruising along, and then technology changes. You have to adapt.
One of the advantages of moving quickly is if you do something wrong you can change it.
Innovation accelerates and compounds. Each point in front of you is bigger than anything that ever happened.
If you think you can execute a previously failed idea, you just have to be able to show that now is the time.
Health care and education, in my view, are next up for fundamental software-based transformation.
Smart tech investor thinks about: a) future product roadmap, b) bottoms-up market size & growth, c) talent and skill of team. Essentially you are valuing things that have not yet happened, and the likelihood of the CEO and team being able to make them happen. Finance people find this appalling, but investors who do this well can make a lot of money.
China is very entrepreneurial but has no rule of law. Europe has rule of law but isn't entrepreneurial. Combine rule of law, entrepreneurialism and a generally pro-business policy, and you have Apple.
There is the opportunity to do more and better if you're smaller and more nimble.
A lot of things you want to do as part of daily life can now be done over the Internet.
Start-ups should be based on radical ideas. There should be a high failure rate for start-ups, because if there isn't their ideas aren't bold enough.
We call it the 'Rule of Crappy People'. Bad managers hire very, very bad employees, because they're threatened by anybody who is anywhere near as good as they are.
Almost every dot-com idea from 1999 that failed will succeed.
People tend to think of the web as a way to get information or perhaps as a place to carry out e-commerce. But really, the web is about accessing applications.
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