If you think about companies that were built in Silicon Valley, a lot of them early on were chip companies. And now the companies that are there, like Apple, are much more successful than any of the chip companies were.

My friends are people who like building cool stuff. We always have this joke about people who want to just start companies without making something valuable. There's a lot of that in Silicon Valley.

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.

There is something wrong with our system when I can leave here and make billions of dollars in 10 years while millions of students can't even afford to pay off their loans, let alone start a business.

It wasn't until we got our first office in Palo Alto where things became more like a company. We never went into this wanting to build a company.

For the first time we're allowing developers who don't work at Facebook to develop applications just as if they were. That's a big deal because it means that all developers have a new way of doing business if they choose to take advantage of it. There are whole companies that are forming whose only product is a Facebook Platform application.