More and more major industries are being run on software and delivered as online services—from movies to agriculture to national defense. Many of the winners are Silicon Valley-style entrepreneurial technology companies that are invading and overturning established industry structures. Over the next 10 years, I expect many more industries to be disrupted by software, with new world-beating Silicon Valley companies doing the disruption in more cases than not.

More and more major businesses and industries are being run on software and delivered as online services - from movies to agriculture to national defense

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.

The 2 hardest things you'll have to do when running a company are recruiting and talking people out of leaving.

My goal is not to fail fast. My goal is to succeed over the long run. They are not the same thing.

Out of ten swings at the bat, you get maybe seven strikeouts, two base hits, and if you are lucky, one home run. The base hits and the home runs pay for all the strikeouts