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...

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...

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.

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.

On the back end, software programming tools and Internet-based services make it easy to launch new global software-powered start-ups in many industries – without the need to invest in new infrastructure and train new employees.

We worked personally with a lot of great VCs. They just work incredibly hard at supporting entrepreneurs and their companies.

These days, you have the option of staying home, blogging in your underwear, and not having your words mangled. I think I like the direction things are headed.

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

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

The big advantage that we have as a venture capital firm over a hedge fund or a mutual fund is we have a 13-year lockup on our money. And so enterprise can go in and...

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...

I think the tech stock, the public market is still completely traumatized by the dotcom crash. I think the investors and reporters and analysts and everybody is determined to not get taken advantage of again,...

I don’t like to not call a spade a spade.

Our combination of great research universities, a pro-risk business culture, deep pools of innovation-seeking equity capital and reliable business and contract law is unprecedented and unparalleled in the world.

I know where I’m putting my money.

Ten to 20 years out, driving your car will be viewed as equivalently immoral as smoking cigarettes around other people is today.

Health care and education, in my view, are next up for fundamental software-based transformation.

I’m really excited about anything that is able to address the really big markets, so anything that’s universally appealing.

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

The joke about SAP has always been, it’s making ’50s German manufacturing methodology, implemented in 1960s software technology, delivered to 1970-style manufacturing organizations, like, it’s really – yeah, the incumbency – they are still the...

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.

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.

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

Almost every dot-com idea from 1999 that failed will succeed.

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

I’ve been a customer of the top venture capital firms, so I know exactly what they do and don’t do.

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.

It’s hard to do that with people who think emotionally. A lot of people think in terms of people, emotions, and feelings. That’s more complicated. Engineering mentality makes it, in theory, a little easier.

A very large percentage of economic activity is shifting online and it makes sense that there are more services that are going to charge. It also means there are going to be more people willing...

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.

Where I grew up, we had the three TV networks, maybe two radio stations, no cable TV. We still had a long-distance party line in our neighborhood, so you could listen to all your neighbors’...

Adaptability is key.

I’ve been an entrepreneur three times. I started three companies.

I’m quite bullish. We’re coming up on year 15 of a flat stock market. Historically that’s a pretty good sign. So I’m not a hedge-fund manager but if I was I think I’d be feeling...

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

No one should expect building a new high-growth, software-powered company in an established industry to be easy. It’s brutally difficult.

Today’s leading real-world retailer, Wal-Mart, uses software to power its logistics and distribution capabilities, which it has used to crush its competition.

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...

TV and the press have always functioned according to the same sets of rules and technical standards. But the Internet is based on software. And anybody can write a new piece of software on the...

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

Great CEOs are not just born with shiny hair and a tie.

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...

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.

There is a constant need for new systems and new software.

PCs don’t suck. They’re inadequate.

In short, software is eating the world.

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.

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.

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