In order to build a great technology company, you have to hire lots of incredibly smart people. It's a total waste to have lots of big brains but not let them work on your biggest problems.
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The problem is that at a lot of big companies, process becomes a substitute for thinking. You're encouraged to behave like a little gear in a complex machine. Frankly, it allows you to keep people who aren't that smart, who aren't that creative.
Tech is important, but if you look at even the successful tech start-ups, you see they employ only dozens of people at most. Tech is never going to have the impact on the job market that manufacturing has.
Most managers are just trying to survive. That's why a lot of smarter guys have been let go from Fortune 500 companies: because they came up with new ideas that no one would allow them to try.
Tech companies tend to do tech best.
It's really easy to create a $1 billion company - you just have to solve a $10 billion problem.
There aren't enough people out there that are becoming experts in technology as technology moves.
Big companies have trouble with innovation. Innovation is about bad ideas, or ideas that look like bad ideas. That's the fundamental thing.
No one should expect building a new high-growth, software-powered company in an established industry to be easy. It's brutally difficult.
You can have a phenomenal technology with bad people; you're not gonna have much success. You can have mediocre technology with great people; they'll figure out a way to make a buck.
I definitely think what drives technology companies is the people; because in a technology company it's always about what are you going to do next.