Mike Moritz the venture capitalist who bankrolled the early development of Apple, has discussed the two main lessons he learned when he invested in the company: "If we can sell something to a group of people we know, then we can sell it to anyone," he said.

He also stressed the importance of good design. Moritz said that Steve Jobs' quasi-religious focus on design has helped Apple maintain its competitive advantage.

The venture capitalist also discussed lessons he picked up through observing or supporting other key companies, including Flextronics, NVidia, Yahoo, PayPal, and Google.

He stressed flexible teams, understanding the product and sales cycles, persistence, word-of-mouth, and the importance of maintaining focus on a particular market segment.

"Google values doing something very useful for users and paying customers", he said.

Mike Moritz also wrote the first book about Apple, The Little Kingdom.

He is the subject of a report carried on the Always On Network.