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We accelerated our capital spending in the fourth quarter, particularly in international and next-generation network deployment, which should not only sustain future revenue growth but also drive significant cost reductions across all communications services.

I think we are in an age where cash pays for time and space. The more cash you have, the bigger space you can buy and the smaller the technology to put in it.

Capital isn't this pile of money sitting somewhere; it's an accounting construct.

For resourceful tech founders, finding capital is rarely a problem; making the best use of it is another story. A few years slinging pepperoni pies and chicken wings - on tiny margins and with minimal investment - might not be the worst fiscal training.

You will always need more capital than you think, because it will always take you longer to reach profitability than you can imagine.

Today, we have our own concentrations of economic power. Instead of Standard Oil, U.S. Steel, the Union Pacific Railroad, and J. P. Morgan and Company, we have Amazon, Google, Apple, Facebook, and Microsoft.

I'd stay away from investments in a variety of sectors that are capital intensive. Anyone who says we need $100 million before we know if what we're doing makes sense and the customers want it - that's not going to work.

If you look at the history of the American capital market, there's probably no innovation more important than the idea of generally accepted accountancy principles.

The financial doctrines so zealously followed by American companies might help optimize capital when it is scarce. But capital is abundant. If we are to see our economy really grow, we need to encourage migratory capital to become productive capital - capital invested for the long-term in empowering innovations.