The best investments feel obvious in hindsight but insane in the moment.

I look for the next paradigm shift. File sharing, social networking, streaming — each one was dismissed before it was inevitable.

Running out of money is not the worst thing. Running out of ideas is the worst thing.

Facebook wasn't about technology. It was about identity. People wanted to be themselves online.

Philanthropy should be structured like venture capital — high-risk, high-reward bets on breakthrough science.

Napster was right about everything except the business model. The music industry proved us right 10 years later.