Microsoft Volume I

7615.074 - 7642.544 Steve Ballmer

He's basically making the argument that disruptive forces come at you so fast in the technology industry that even though you can grow extremely fast and it's this extremely scalable thing, distributing software at zero distribution costs, and even though the margins are unbelievable because you have zero marginal costs, they still shouldn't be valued as highly as like a CPG company, which is so different than the way that people think about it today.