We don't have sales trading, brokerage, capital lending - any of those kinds of things that got some of the Wall Street firms a little bit in trouble.

Respect public investors and treat them as partners and important constituents.

When we took Netscape public, if people wanted to invest in the web, that was the only stock that they could do it by investing in. So Netscape's market value was higher than it probably otherwise would have been if there were lots of other ways to play that theme.

I thought I was kind of a hotshot because I had had two years of work experience at Morgan Stanley, and I was about to get my Stanford M.B.A.