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I view real estate as the most intriguing opportunity that I've seen in my business lifetime.

If anything, the impact of digital technology is creating bigger brands and bigger superstars.

I think of real estate as a little bit like cooking or like art.

Not since the digital revolution in the early '90s has technology placed such a comprehensive burden on business, employees and individuals to reinvent their business plans, services and products, and themselves to keep pace with the changing marketplace.

Just like the Internet has transformed the media industry or the e-commerce industry, the software industry is also being affected dramatically by the Internet.

And it's interesting, when you look at the predictions made during the peak of the boom in the 1990s, about e-commerce, or internet traffic, or broadband adoption, or internet advertising, they were all right - they were just wrong in time.

The electronics industry expanded rapidly and the seeds for the semiconductor and software revolution were planted. The postwar period also saw the suburbanization of America, the rise of the homeowner, the build-out of the interstate highway system, and the rise of automobile culture. Credit availability expanded dramatically.

Real estate deals a lot with the government. It isn't like manufacturing, logistics, home appliances or the auto sector, which deal with consumers.

The Internet has created an incredible democratization of the architecture industry.

In the real estate business you learn more about people, and you learn more about community issues, you learn more about life, you learn more about the impact of government, probably than any other profession that I know of.