My first mistake, of course, was in buying control of Berkshire. Though I knew its business - textile manufacturing - to be unpromising, I was enticed to buy because the price looked cheap. Stock purchases of that kind had proved reasonably rewarding in my early years, though by the time Berkshire came along in 1965 I was becoming aware that the strategy was not ideal. If you buy a stock at a sufficiently low price, there will usually be some hiccup in the fortunes of the business that gives you a chance to unload at a decent profit, even though the long-term performance of the business may be terrible. I call this the "cigar butt" approach to investing. A cigar butt found on the street that has only one puff left in it may not offer much of a smoke, but the "bargain purchase" will make that puff all profit. Unless you are a liquidator, that kind of approach to buying businesses is foolish.

Well, I'll be honest with you. I was a theoretical physicist but my Ph.D. work was on a problem that was not particularly interesting to me at the time. And I used to subscribe to Scientific American and I found that there were all these wonderful discoveries happening in biology and I also knew that a number of physicists had gone into biology and been successful. So, I decided to switch.

I would try to write my war story, whether it was interesting or not, and try to make something out of it. I describe that process a little in the beginning of Slaughterhouse Five; I saw it as starring John Wayne and Frank Sinatra. Finally, a girl called Mary O’Hare, the wife of a friend of mine who’d been there with me, said, “You were just children then. It’s not fair to pretend that you were men like Wayne and Sinatra, and it’s not fair to future generations, because you’re going to make war look good.” That was a very important clue to me.

When we started Airbnb, no one wanted to invest. I felt like a failure so many days. It was small, it wasn't growing... A sane person probably would have quit. But we kept going through obscurity, through rejection. We couldn't raise money — but over time, it started growing.

Certainly not. As a young child, I remember just dreaming about the Nobel Prize, but that was just a dream. It’s not something I would have ever thought was possible for me.

As I was starting my academic career, it was almost considered to be a negative signal to your career to get involved in politics ... But to me that was a sign you were doing something useful.

So achievement, to me, is something that just comes with this attitude of doing your work the best you can in a passionate way. It’s not something that you have to expect. It’s something that’s a consequence of what you do, but it’s certainly important.

Although my years at Irvine were very productive, I missed not doing experiments myself because of the many responsibilities associated with a faculty position: teaching courses, supervising graduate students, meetings, etc. After spending seven years at Irvine as Assistant and then Associate Professor, I decided to move to a non-academic position. I joined the Molecular Physics and Chemistry Section at the Jet Propulsion Laboratory in 1982. I had a smaller group – only a few postdoctoral fellows – but I also had the luxury of conducting experiments with my own hands, which I enjoyed very much.

In terms of this issue of these industrial gases affecting the environment, at the beginning the road was not easy, because we were suggesting that society had to change, that industries had to do something different than they were doing at that time. And of course, initially we did not meet with a good reception to these ideas from industry. And even from the scientific community — even though our ideas were well received in the small group of specialists in what we were doing — it was not necessarily well received by the scientific community at large. So we really had to continue doing as good a science as we could, and at the same time trying to well communicate our conviction that it was something important, something that had to change in the way society was functioning.

I then converted a bathroom, seldom used by the family, into a laboratory and spent hours playing with chemistry sets. With the help of an aunt, Esther Molina, who was a chemist, I continued with more challenging experiments along the lines of those carried out by freshman chemistry students in college.