The Importance of Intellectual Property in the Future

The way to get rich was to have this proprietary license to intellectual property that someone would have to pay you every time they were using. That's how Bill Gates got rich is because every time then a PC maker ended up making a PC, they were paying his company a license fee for their operating system. And he was pretty smart about how he structured those payments so that they would pay for every CPU they produced, not for the ones that actually use the operating system. So it became very quickly the dominant operating system and this real monopoly position.