The trick is, a market has to be nonexistent when you start. If the market is large early on, you will have too many competitors. You have to make it large.

We see China as a large market opportunity with similar cyclical economic cycles that occur throughout every economy.

If you start a successful company in China at 11 A.M., by 2 P.M. there's three more companies like it.

If you choose a market that already exists, say, networking equipment, you have to compete with an established company like Cisco. Even if your product is marginally better, Cisco can fudge it and outsell you.

There's a number of companies clearly that we wish we had invested in either at the early or at the moderate stage.

You have to be willing to risk things; otherwise, somebody else will put you out of business.