"I met Woz when I was 13, at a friend's garage. He was about 18. He was, like, the first person I met..." — Steve Jobs

So when these people sell out, even though they get fabulously rich, they're gypping themselves out of one of the potentially most rewarding experiences of their unfolding lives. Without it, they may never know their values or how to keep their newfound wealth in perspective.

But Apple really beats to a different drummer. I used to say that Apple should be the Sony of this business, but in reality, I think Apple should be the Apple of this business.

It takes these very simple-minded instructions - 'Go fetch a number, add it to this number, put the result there, perceive if it's greater than this other number' - but executes them at a rate of, let's say, 1,000,000 per second. At 1,000,000 per second, the results appear to be magic.

We've demonstrated a strong track record of being very disciplined with the use of our cash. We don't let it burn a hole in our pocket, we don't allow it to motivate us to do stupid acquisitions. And so I think that we'd like to continue to keep our powder dry, because we do feel that there are one or more strategic opportunities in the future.