I think fear and fear of the unknown and perceived failure is what holds people back. For me, I am more scared of complacency than having something not work out. I'd rather take a leap of faith and fall than stand on the edge forever.

Having advanced well beyond what the French call "a certain age," I am often asked to convey to younger people helpful advice and counsel. So I will open these remarks with the best advice I ever received. The advice, which I have several times shared with others, was given to me by my mother-in-law on my wedding day. She had a prescription for a happy, enduring marriage: "It pays," she said, "it pays sometimes to be a little deaf."

Don't screw it up. Don't take it for granted. Try new things, even if you're old. Do the right thing, because if you do the right thing, the money will follow. Decide what you stand for. Finally, don't worry about being cool—be warm.

The challenge of a big, over-arching vision is that it's hard to know where to start. And your biggest opportunity will change from year to year. Technology changes. Competition changes. You change. My advice: Just start. Find a single unmet need that nudges the world closer to where you believe it's going. And if you hit a dead end, pivot.

Well yes, but like I said, small mistakes or small failures. We take small failures very often. We have failures in investment. We have failures in operation, but no big mistakes or big failures. How do we take that? Like ordinary business.

It takes a combination of ways to do these things, more than discipline. It’s a way of life. It’s like diet or gymnastics. You can know all the gymnastic things, all the exercises. You can know all the diets, but if you don’t do the diets, if you don’t do the exercise, it won’t work. It’s the same if you have some rules, but you don’t live them. It doesn’t work.