“Today's stock market actually hates technology, as shown by all-time low price/earnings ratios for major public technology companies.”
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When I started Netscape I was brand new out of college and all the aspects of building a business, like balance sheets and hiring people, were new to me.
Health care and education, in my view, are next up for fundamental software-based transformation.
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 trust - it has a business model that either works or it doesn't.
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.
