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I have been quoted saying that, in the future, all companies will be Internet companies. I still believe that. More than ever, really.

It's a lot easier to gain traction when there is such a great proliferation of Internet access. The velocity at which some of these startups are gaining traction is mind-boggling. Companies like ShoeDazzle, Stella & Dot, Gilt, Groupon - these companies are going from zero to hundreds of millions in revenue in three years.

Companies are bought for their revenue, customer base, technology, or people. A few great companies offer all of these, but any valuable business offers one.

The Internet represented a really important tool that would be used by every business out there to some extent. But for the vast majority of companies to say, 'We're an Internet company,' is a little bit like saying, 'We're a fax company because we have a fax machine.'

The companies that I really admire the most are the ones that have a deep visceral understanding of why people use their service, and they figure out ways of making money that are completely consistent with how people are feeling and what they are doing at the time.

Back in the late 1990s, venture capitalists got very excited about the Internet. A whole lot of money was poured into some companies that failed rather spectacularly, and a lot of people lost a lot of money.

If you look at the Internet, it's been hard for a lot of the traditional media companies to launch viable brands.

Any small business that's predicated on technological innovation and is differentiated and superior can expand globally very effectively using the Internet as a vehicle for promotion.