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“It's really hard to design products by focus groups. A lot of times, people don't know what they want until you show it to them. As Henry Ford said many years earlier: "If I had listened to my customers, I would have built a faster horse." Inventions in general express Shannon entropy. They come from the supply side.”

“When man invented the bicycle he reached the peak of his attainments. Here was a machine of precision and balance for the convenience of man. And (unlike subsequent inventions for man's convenience) the more he used it, the fitter his body became. Here, for once, was a product of man's brain that was entirely beneficial to those who used it, and of no harm or irritation to others. Progress should have stopped when man invented the bicycle.”

“Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the state.”

“I do not rush into actual work. When I get a new idea, I start at once building it up in my imagination, and make improvements and operate the device in my mind. When I have gone so far as to embody everything in my invention, every possible improvement I can think of, and when I see no fault anywhere, I put into concrete form the final product of my brain.”

“Innovation is not a big breakthrough invention every time. Innovation is a constant thing. But if you don't have an innovative company [team], coming to work everyday to find a better way, you don't have a company[team]. You're getting ready to die on the vine. You're always looking for the next innovation, the next niche, the next product improvement, the next service improvement. But always trying to get better.”

“If the Health Impact Fund were to be instituted, a single company would be in charge of a medical product all the way from its conception to the health improvements realized by actual patients. The company would be paid for health impact, and it would have to arrange the entire pipeline in between - all the steps of invention, of clinical testing, of getting marketing approval in many different countries, of wholesalers and retailers and prescriptions and so on - in a holistically optimal way.”