“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.”
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People are so bad at driving cars that computers don't have to be that good to be much better. Any time you stand in line at the D.M.V. and look around, you're like, Oh, my God, I wish all these people were replaced by computer drivers.
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.
Perhaps the single most dramatic example of this phenomenon of software eating a traditional business is the suicide of Borders and corresponding rise of Amazon.
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.