You cannot make a giant space company in your dorm room. Not today. And the reason is that the heavy lifting infrastructure isn't in place.

Good ideas will always get funded, so that's not going to be a problem. But you will see that it will be harder and harder for bad ideas to get funded.

I told all of our original investors that they would lose their money for sure.

It's very important for entrepreneurs to be realistic. So if you believe on that first day while you're writing the business plan that there's a 70 percent chance that the whole thing will fail, then that kind of relieves the pressure of self-doubt.

I was working at a financial firm in New York City with a bunch of very smart people, and I had a brilliant boss who I much admired. I went to my boss and told him I wanted to start a company selling books on the Internet. He took me on a long walk in Central Park,listened carefully to me, and finally said, "That sounds like a really good idea, but it would be an even better idea for someone who didn't already have a good job."

AI is real and will change every industry. We are living in a golden age, and there is reason to be optimistic. There has never been a better time to be an entrepreneur and start a start-up.