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I got that answer during the cocktail reception before the D Conference officially opened last night in Carlsbad, Calif.

I was surprised to see Bill at the reception; after all, in just about 45 minutes he would take the stage with Microsoft CEO Steve Ballmer and D6 organizers Kara Swisher and Walt Mossberg. He was surprisingly relaxed, or maybe not so surprisingly. For someone so often in the spotlight, maybe Bill can just be himself anywhere.

As I approached, he was speaking about the Bill and Melinda Gates Foundation and projects where Microsoft software might be involved. "I use my own money," Bill said, rather than the Foundation's. I was impressed by that statement.

It's inevitable, given the popularity of Microsoft software, that the charitable organization would have projects where the company's products would be involved. That's a sticky area, rife with potential conflict of interest. Bill made clear that the simplest solution was to pay himself. It's a fine distinction, given that a large portion of the Foundation's endowment comes from the Gates, but an important one nevertheless. The approach sets a high standard for the use of public money.

Bill next answered somebody's question about his impending departure from day-to-day Microsoft operations. He is set to retire on June 30. But given that he is still chairman of the board and the largest shareholder, Bill will remain involved in Microsoft.

Right now Bill spends about 80 percent of his time at Microsoft and another 20 percent at the Foundation. From July 1, that 80-20 will flip around, with more of his time dedicated to the charitable endowment.