The advantage of the consumer businesses is they tend to be much broader-based, much larger number of customers, that tend to over time be a lot more predictable. The advantage of the enterprise companies is they are not as subject to consumer trend, fad, behavior.

Consumers are freeing up an enormous amount of time that they were spending with stereotypical old media, and clearly, that time is going primarily two places: videogames and online.

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.

Tech stocks are trading at a 30-year-low when compared to the multiples of industrials (companies). It's the weirdest bubble when everyone hates everything.

Many of the best firms historically in venture capital have been multi-sector.

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.

I always had the old-school model that I'm going to work for as long as I'm relevant and focus on for-profit activities and someday when I retire I'm going to learn about philanthropy.

The days when a car aficionado could repair his or her own car are long past, due primarily to the high software content.

First of all, every new company today is being built in the face of massive economic headwinds, making the challenge far greater than it was in the relatively benign '90s.

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 there's been a crisis in a market, you don't tend to have a new crisis in that market until the people who went through the last crisis aren't in the system anymore.

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.

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.

Qualified software engineers, managers, marketers and salespeople in Silicon Valley can rack up dozens of high-paying, high-upside job offers any time they want, while national unemployment and underemployment is sky high.

There's a new generation of entrepreneurs in the Valley who have arrived since 2000, after the dotcom bust. They're completely fearless.

If you want to bring down the prices of healthcare and education, the answer will be more innovation, more technology, which will then have the effect of freaking everybody out and saying, 'Oh, my God, you're going to kill all the jobs.'

In 2000, when my partner Ben Horowitz was CEO of the first cloud computing company, Loudcloud, the cost of a customer running a basic Internet application was approximately $150,000 a month.

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 know where I'm putting my money.

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.

If we're building high quality companies, if the customers like the products, if the technology innovation is real, then the substance is going to win out in the end.

The smartphone revolution is under-hyped, more people have access to phones than access to running water. We've never had anything like this before since the beginning of the planet.

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.

I think the American system is incredibly well developed. I think the founding fathers were geniuses.

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.

We have never lived in a time with the opportunity to put a computer in the pocket of 5 billion people.

Nokia and Research in Motion needed a modern operating system. They could have bought Palm or Android before Google did, but they didn't. Today, it's probably too late, and at the time they would have been criticized for overpaying, but as they say - shift happens.

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.

If we're in a bubble, it's the weirdest bubble I've ever seen, where everybody hates everything.

Innovation accelerates and compounds. Each point in front of you is bigger than anything that ever happened.

Newspapers with declining circulations can complain all they want about their readers and even say they have no taste. But you will still go out of business over time. A newspaper is not a public trust - it has a business model that either works or it doesn't.

I think 2012 is the year when consumers all around the world start saying no to feature phones and start saying yes to smartphones.

I am bullish on the global development. I am bullish on billions of people getting out of poverty.

It's much harder these days as a start-up to do physical devices.

There's always more demands than there's time to meet them, so it's constantly a matter of trying to balance them.

Companies in every industry need to assume that a software revolution is coming.

PCs don't suck. They're inadequate.

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.

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.

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.

With lower start-up costs and a vastly expanded market for online services, the result is a global economy that for the first time will be fully digitally wired-the dream of every cyber-visionary of the early 1990s, finally delivered, a full generation later.

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.

Today's stock market actually hates technology, as shown by all-time low price/earnings ratios for major public technology companies.

I enjoy not being a public company.

You are cruising along, and then technology changes. You have to adapt.

This has been a trend for a long time; the days of lifetime employment are long since over.

If you're unhappy, you should change what you're doing.

I don't think objectively we are in a tech bubble when tech stocks are at a 30 year low.

Amazon drove Borders out of business, and the vast majority of Borders employees are not qualified to work at Amazon. That's an actual, full-on problem. But should Amazon have been prevented from doing that? In my view, no.