“Sometimes we do get taken by surprise. For example, when the Internet came along, we had it as a fifth or sixth priority. It wasn't like somebody told me about it and I said, "I don't know how to spell that." I said, "Yeah, I've got that on my list, so I'm okay." But there came a point when we realized it was happening faster and was a much deeper phenomenon than had been recognized in our strategy.”
Speech at the University of Washington, as reported in "Gates, Buffett a bit bearish" CNET News (2 July 1998) http://archive.is/20130102062335/http://news.com.com/2100-1023-212942.html
1990s
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