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I didn't think I was good at anything, didn't do well in school. And then in the third grade, I was going to a public school. And the teacher was putting math problems on the board. And I said to myself - it's amazing how you can remember certain incidents at any age that made an impression - I asked myself why is she putting those up when the answers are obvious. And then I saw it wasn't obvious to anybody else in the class. So I said, "Hey, I'm good at something."
I was doing a campaign once for a manufacturer, and I couldn't think of an ideas, and I was kind of desperate about it. The night before I had to show something to my client I had a dream, an interesting dream. I woke up and for once in my life I wrote it down and went back to sleep Next morning I went to the office and had that dream out into a TV commercial which is still running thirty years after and which has made that particular product the leader in its field.
When you're running a company, you have employees - lots of them - that can interrupt your schedule. You have customers that can interrupt your schedule. You have a certain obligation to wave the flag because people expect to get out and wave the flag. The number of ways that others can command your time is high. At this stage, I get to pick and choose a little more. Not that there aren't some things that have to be done, but I get a little more control over my time.
As a private person, I have a passion for landscape, and I have never seen one improved by a billboard. Where every prospect pleases, man is at his vilest when he erects a billboard. When I retire from Madison Avenue, I am going to start a secret society of masked vigilantes who will travel around the world on silent motor bicycles, chopping down posters at the dark of the moon. How many juries will convict us when we are caught in these acts of beneficent citizenship?
I wanted to be an industrial designer, so I went to business school for that, and I then went on to marketing at Interpublic Group of Companies, which was one of the first organizations to actually think about brand marketing. I worked on Coca Cola's account, and then I was recruited by Pepsi, and I ended up being Pepsi's first MBA. I was called the High Wire Act because I was in my 20s and I was given jobs of increasing responsibility that I was totally unqualified for.
One of the great blessings of the restored gospel is the privilege of entering into sacred covenants with our Father in Heaven-covenants made binding by virtue of the holy priesthood. When we are baptized and confirmed, when brethren are ordained to the priesthood, when we go to the temple and receive our endowment, when we enter into the new and everlasting covenant of eternal marriage-in all these sacred ordinances, we make solemn commitments to keep God's commandments.
My friends don't understand, whether it's belonging to a country club or playing golf, or whatever a vacation is, that should make you happy. And it's like, "No, happiness is much deeper." I think people have to struggle to find things that give them purpose, the real meaning. Why am I alive? Why did God bless me with these skills or these resources? What am I to do with them? If God just lets some person be very fortunate, let's say financially, it's kind of a funny God.
I've never believed protectionism of that kind will lead us anywhere. I think you can have certain specific rules for engaging with India.. for example, not allowing mineral resources to be taken out of the country.. but there is not a shred of doubt in my mind that when you open an economy you should do it in totality. Foreign investment adds a sense of competition; we should see this as a wake-up call to modernise and upgrade. Companies that do not will undoubtedly die.
The Declaration of Independence was only partially applied for women and for certain immigrants such as the Chinese. And it wasn't applied to get rid of corporate welfare and cronyism. People who had special connections got special deals from the beginning. So all of those violations of what the Declaration of Independence expressed, have led to the problems we have today. So, the sins of the fathers are visited upon the sons for seven generations, or much longer. Forever.
On my very first day at T-Mobile, I demanded that every time I spoke publicly to the company, all employees across the country would be invited to watch. I faced legal and all that crap, but ultimately we were able to figure it out. We record it, too, so if somebody can't leave the sales floor, they can watch it later. Another thing I did very early on is give every employee stock, which we continue to do. So every time I speak to them I speak way over some of their heads.
Ben and I built Ben & Jerry’s on the idea that business has a responsibility to the community and environment If you open up the mind, the opportunity to address both profits and social conditions are limitless. It’s a process of innovation If we were going to have a business we were going to have one that was consistent with our values We measured our success not just by how much money we made, but by how much we contributed to the community. It was a two-part bottom line.
A lot of lies and misinformation has been put about by eco nuts on the back of a report by an idiot economist [Sir Nicholas Stern]. Environmental head bangers are talking nonsense when they claim that aviation is the fastest-growing source of carbon emissions. Coal-fired and oil-fired power stations are the biggest contributor of carbon but I have yet to hear any fearless eco warriors advocating nuclear power as they drive around in their SUVs to their next protest meeting.
I love the fact that Satya Nadella's checked the checkbox for cross-platform for a number of our services. I still think it's very important to do the right kind of innovative integration across Windows and our hardware platforms with our cloud services. I think the company's doing a lot of good stuff. Real competition in AWS. Real competition in terms of the clients, particularly from a hardware perspective, there's also [competition] from Chrome. But all in all pretty good.
Guys, just remember, if you get lucky, if you make a lot of money, if you get out and buy a lot of stuff--it's gonna break. You got your biggest, fanciest mansion in the world. It has air conditioning. It's got a pool. Just think of all the pumps that are going to go out. Or go to a yacht basin any place in the world. Nobody is smiling, and I'll tell you why. Something broke that morning. The generator's out; the microwave oven doesn't work . . . Things just don't mean happiness.
My view on well-being and fulfillment comes from Maslow and positive psychology, and that is that you're satisfying three sets of needs. First need is physiological and safety needs: Got to satisfy those first. And the second is you got to satisfy your community needs because we're social animals, and if we don't have that, we're empty and we don't have people to share knowledge and bounce things off of, and challenge ourselves. And then the third is the idea is to find a calling.
President Xi Jinping clearly understands, and I think agrees, that the situation in North Korea has intensified and has reached a certain level of threat that action has to be taken. And, indeed, the Chinese, even themselves, have said that they do not believe the conditions are right to engage in discussions with the government in Pyongyang. And so what I think we're hopeful is that we can work together with the Chinese to change the conditions in the minds of the DPRK leadership.
Don Keough's (CEO Coca-Cola) 11 Rules on "HOW TO LOSE": 1. Stop taking risks 2. Be content 3. Never deviate from what the founder did 4. Be inflexible 5. Rely totally on research and experts 6. Concentrate on competitors instead of your customers 7. Put yourself - not the customer - first 8. Solve administrative concerns first 9. Let others do your thinking for example, headquarters 10. Rely on T-G-E: "That's Good Enough" and T-N-M-J: "That's Not My Job!" 11. Rationalize slow growth
My favorite leader is George Washington. Because he came from very modest circumstances. He wasn't the son of a plantation owner. He was the son of a farmer. He had no formal education, very frustrated. He started writing a diary when he was in his teens, and he wrote things like, "When I grow up, I want to be respected. When I grow up, I want to be successful. When I grow up, I want to know things." What I find fascinating about Washington is he wanted to make something of himself.
It's a very erroneous strategy to try to push the Russian opposition to unite. First of all, the opposition is addressing different parts of Russian society that have differing points of view. And besides, a united opposition is a nice big target that the authorities have a much easier time fighting. And besides, resisting an authoritarian regime with an authoritarian opposition merely means that, in the event of victory, you're just doing yet another round of the same old, same old.
I visit T-Mobile call centers. We've got about 18 major call centers in the US, and before I was CEO, I heard that no CEO had gone to physically visit them. I go in, they meet me outside, we take selfies as I stand like a piece of furniture, I tell them about how things are going - but most importantly, I say thank you and help them see that their behavior and their work has driven the culture of the company that's changed the industry and the whole world. It's a bit of a love affair.
Navalny is doing a very important thing in his segment of society. Gudkov is a doing a very important thing in his segment of society. Yabloko, or more accurately, some of the leaders of the Yabloko party, are doing a very important job in their segment of the population, people such as Schlosberg. And our organization Open Russia is also doing important work with its segment of society, because those people who are focused on us, our segment, they're not part of those other segments.
One of the things I've probably absorbed when I was in business school - and didn't know I was learning it - was about life cycles, that things begin, and they peak, and then they decline. So whether you look at life cycles of fashion, or you look at life cycles of things that people buy, designs, everything is in a life cycle. Getting out of the apparel businesses and into beauty and lingerie, those were very big bets, but they were very deliberately thought about and tested over time.
The characteristics that I look for when I'm looking for really good entrepreneurs to lead companies are you have to have an inquiring mind, you have to say there must be a better way to do things, and now with technology at a point where everything is possible, how do we turn the possible into the probable? And it all starts with a passion to do something really well, to solve a problem in a way that's never been solved before, and to have just an incredible work ethic, to be persistent.
Achievement must be made against the possibility of failure, against the risk of defeat. It is no achievement to walk a tightrope laid flat on the floor. Where there is no risk, there can be no pride in achievement and, consequently, no happiness. The only way we can advance is by going forward, individually and collectively, in the spirit of the pioneer. We must take the risks involved in our free enterprise system. This is the only way in the world to economic freedom. There is no other way.
Strangely, from a life-change standpoint, I sold the company I was running and got divorced in the same month. And so there I was, at home, and I'm not the CEO. I took a few months thinking about what I wanted to do. When the first call came in about running a company owned by Deutsche Telekom, I thought it was laughable and really not something I'd do. I took the meeting mainly because the headhunter I knew. At first I thought I was just helping her fill out the roster, but then I dug into it.
Consumers will purchase high quality products even if they are expensive, or in other words, even if there are slightly reasonable discount offers, consumers will not purchase products unless they truly understand and are satisfied with the quality. Also, product appeal must be properly communicated to consumers, but advertisements that are pushed on consumers are gradually losing their effect, and we have to take the approach that encourages consumers to retrieve information at their own will.
I think leaders lead themselves, but leaders have ideas and maybe they're visionary ideas. Probably today, people would say Steve Jobs was a visionary because he invented this little gadget, the cell phone. But he didn't invent cell phones, and he didn't design the cell phone. He just took a couple of ideas and put them together, and no one else put those same ideas together as successfully as he did. But he had something that he was trying to do that intrigued him, and he could do it very well.
Case (Keenum) is going to be the quarterback. We’re going to give him a chance to see how he can perform. I think the jury is still out. He’s got a lot of ability. He’s shown some flashes of brilliance and then he’s shown some rookie mistakes. We’ve got to see if we can improve, eliminate those mistakes, minimize those mistakes and continue some of the outstanding play that (we’ve) seen and see whether we think that he can be a starting quarterback in the NFL. At this point, we really don’t know.
Principles are concepts that can be applied over and over again in similar circumstances as distinct from narrow answers to specific questions. Every game has principles that successful players master to achieve winning results. So does life. Principles are ways of successfully dealing with the laws of nature or the laws of life. Those who understand more of them and understand them well know how to interact with the world more effectively than those who know fewer of them or know them less well.
A lot of what is done by the climate lobby is anti-science. But there is some science behind it. Like, there are greenhouse gases, and they do contribute to warming. But if you look at the last, say, 160 years, the first 80 of that period, they went up about four-tenths of a degree. And now, the second 80 that CO2 has increased by, what, 30 percent or something, it's gone up five-tenths of a degree. And there's been in the last 30 or 40 years, there's been no real increase in storms or bad weather.
People are conditioned to believe that error is inevitable.... However, we do not accept the same standard when it comes to our personal life. If we did, we would resign ourselves to being shortchanged now and then when we cash our paychecks. We would expect hospital nurses to drop a certain percentage of all newborn babies. We would expect to go home to the wrong house periodically. As individuals we do not tolerate these things. Thus we have a double standard, one for ourselves, one for the company.
I think what I've tried to do is make the world a better place. I think that's what's really important. Nobody remembers who sold the most togas in Rome. In terms of legacy, people remember the great villains more than they remember the great heroes. So I think how you feel about yourself is the most significant question. What do you say about yourself when you put your head on the pillow? Are you really proud of what you're doing and the way you're doing it? I think it's really a fundamental question.
To retire by the age of 35 was my goal. I wasn't sure how I was going to get there though. I knew I would end up owning my own business someday, so I figured my challenge was to learn as much as anyone about all businesses. I believed that every job I took was really me getting paid to learn about a new industry. I spent as much time as I could, learning and reading everything about business I could get my hands on. I used to go into the library for hours and hours reading business books and magazines.
Distinguish open-minded people from closed-minded people. Open-minded people seek to learn by asking questions; they realize that what they know is little in relation to what there is to know and recognize that they might be wrong. Closed-minded people always tell you what they know, even if they know hardly anything about the subject being discussed. They are typically made uncomfortable by being around those who know a lot more about a subject, unlike open-minded people who are thrilled by such company.
I learned early on that one of the secrets to campus leadership was the simplest thing of all: speak to people coming down the sidewalk before they speak to you. I did that in college. I did it when I carried my papers. I would always look ahead and speak to the person coming toward me. If I knew them, I would call them by name, but even if I didn't I would still speak to them. Before long, I probably knew more students than anybody in the university, and they recognized me and considered me their friend.
When you are filled with soul energy you become magnetic." 11 Teachings to help on the journey to Soul Realization: (1) Practive humility; (2) Give up pride and self-delusion; (3) Practice loving kindness; (4) Give up anger, hatred and vindictiveness; (5) Practice generosity; (6) Avoid greed and stealing in its different aspects; (7) Practice honesty; (8) Avoid maliciousness and exploiting lies; (9)Practice moderation; (10) Avoid excessiveness; (11) Do not allow yourself to be enslaved by your lower nature
Each of us will have our own Fridays—those days when the universe itself seems shattered and the shards of our world lie littered about us in pieces. We all will experience those broken times when it seems we can never be put together again. We will all have our Fridays. But I testify to you in the name of the One who conquered death—Sunday will come. In the darkness of our sorrow, Sunday will come. No matter our desperation, no matter our grief, Sunday will come. In this life or the next, Sunday will come.
Everybody has to solve that "meaning of life" and purpose question for themselves. Everybody does it their own way. I think you have to be thoughtful about the way that you're doing it. So I describe it as purpose. If you can think about leading a purposeful life - not just an accumulation but you actually make the world a better place - then I think in the grand scheme of the universe, that that explains our existence. If not, we're just passing through. We're grains of sand and we're blowing in the breeze.
I have a theory that the best ads come from personal experience. Some of the good ones I have done have really come out of the real experience of my life, and somehow this has come over as true and valid and persuasive. People love to read stories. They like to know you as a real person who has your struggle, pain, success and failure, etc. One well-known example is Jared Fogle's weight loss story which made millions of dollars for Subway. Start to collect your stories from today and use them in your ad campaigns.
I believe that our society's "mistake-phobia" is crippling, a problem that begins in most elementary schools, where we learn to learn what we are taught rather than to form our own goals and to figure out how to achieve them. We are fed with facts and tested and those who make the fewest mistakes are considered to be the smart ones, so we learn that it is embarrassing to not know and to make mistakes. Our education system spends virtually no time on how to learn from mistakes, yet this is critical to real learning.
So to the best we can, what we do is focus on creating value for others, and how do we do that? We do it by trying to produce products and services that our customers will value more than their alternatives, and not just their alternatives today, but what the alternatives will be in the future. We try to more efficiently use resources than our competitors, and constantly improve in that, and we try to do the best job we can in creating a safe environment, and environmental excellence, and constantly improve at that.
Success is not in obtaining the thing. Because there's always another thing. And then you look back on it, and for me, through my evolution, yes I have success by most measures - but for me, when it comes to the greatest joy of reward, there's an emotional element and there's an intellectual element. Emotionally, my greatest joy was the personal relationships I've had. That was the greatest joy. Intellectually, my satisfaction was that I do feel I've evolved well and I'm doing my best to contribute toward evolution.
The plague of pornography is swirling about us as never before. Pornography brings a vicious wake of immorality, broken homes, and broken lives. Pornography will sap spiritual strength to endure. Pornography is much like quicksand. You can become so easily trapped and overcome as soon as you step into it that you do not realize the severe danger. Most likely you will need assistance to get out of the quicksand of pornography. But how much better it is never to step into it. I plead with you to be careful and cautious.
Being a good private equity investor is more complicated than it seems. I would say that there are a few characteristics that are important. If you look at the skill set that you need to ultimately be a successful private equity investor, at least at the senior level, you have to be, in this business, a good investor. You have to be able to help companies perform and you have to have judgment around exiting investments. If you look at the skill sets there, they include some things you can teach and some that you can't.
Logic is the subject that has helped me most in picking stocks, if only because it taught me to identify the peculiar illogic of Wall Street. Actually Wall Street thinks just as the Greeks did. The early Greeks used to sit around for days and debate how many teeth a horse has. They thought they could figure it out just by sitting there, instead of checking the horse. A lot of investors sit around and debate whether a stock is going up, as if the financial muse will give them the answer, instead of checking the company.
The country is now universally recognised as a nation on the move and takes its place amongst the successful economies in the region. The future potential is enormous but the country's destiny is in our hands. The time has come to move from small increments to bold, large initiatives. The time has come to stretch the envelope and set goals which were earlier not seen to be possible. The time has come for performance to be measured and for allocated funds of the government to reach the people for whom they were intended.
The meaningful work and the meaningful relationships are, to me, comparable rewards. I think being on a mission to do something great is great, and to be on that mission with people who you have really meaningful relationships with not only provides both types of rewards, but it's mutually supportive. Because you can have tough love, but there's also the love part of that in terms of the caring for each other, and when you have the caring you can be tougher on each other. Some people describe it as an intellectual Navy Seals.
In general, I'm pretty busy with the other things I charted ... I bought a piece of a sports-tech company. We do a lot of work with at the Clippers. I think that'll be great. We're really looking at the possibility of extending and building a real over-the-top distribution channel with value-added services for the Clippers, that could lead to other partnerships and investments. But most of the stuff I'm looking at isn't because I say, "Hey, I want to invest." It sort of comes around from the work we're doing with the Clippers.
When you coach and teach leadership, most people think about them. It's like you're the leader and how do you influence them. Clearly, leaders do take their followers, their flock, their enterprise, their business - whatever - hopefully to a better place. But I think the foundation of what makes really great leaders is they lead themselves, and they're conscious about knowing themselves and coaching and leading themselves in a very profound way. The simplest of us talk to ourselves. The question is, "Do we really lead ourselves?"
For me, one of the highlights of being in the private equity world is that you need to learn a lot and very quickly about different businesses. So it's always a continuing learning experience where you can apply what you know, of course, by way of judgment and by way of numerical analysis. You're always investing in new businesses, which is a learning experience in itself. I think that is a wonderful thing and I think it makes for intellectual challenge and for continued personal growth. That, for me, is the highlight of this job.