He said it's hard for new start-ups to succeed. But, he claimed, there remain many winning business opportunities for the Internet.

Demonstrating the advances of current technology, Bezos delivered his speech via satellite from Seattle, and answered questions from the Internet, from people as far away as Madrid, Spain. He was unable to attend the conference in person due to the birth of his first child.

The conference began Friday evening with a keynote address by David Wetherell, CEO of CMGI, an Internet holding company.

Wetherell, named last year an "Internet Evangelist" by Business Week, said the Internet is currently only in its beginning stages of development. With only 3 percent of the world's population currently using the Internet, he stressed that the Internet bubble "is only going to get a whole lot bigger."

Wetherell said access to the Internet should be an "inalienable right," and that government should ensure free access to all citizens.

He further argued that more online advertising targeted at specific users will be necessary to offset the costs of free Internet access.

In addition to the panels and speeches, MBA students were given the opportunity to network with fellow MBA colleagues during social events at the House of Blues and Club Avalon. The event also featured a career fair with recruiting start-up companies.