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Unlike in school, in life you don't have to come up with all the right answers. You can ask the people around you for help - or even ask them to do the things you don't do well. In other words, there is almost no reason not to succeed if you take the attitude of 1) total flexibility - good answers can come from anyone or anywhere (and in fact, as I have mentioned, there are far more good answers 'out there' than there are in you) and 2) total accountability: regardless of where the good answers come from, it's your job to find them.
I engaged - started engaging in yoga as a physical practice, but very quickly found out there was something broader to it, and that it was actually helpful for my pain, and started to get into meditation, started to study the Upanishads and the Bhagavad Gita and a lot of the scriptures associated with yoga, the Yoga Sutras, and very quickly came to this conclusion that this had a huge impact on my ability to lead, but, more importantly, the ability to control my sympathetic nervous system, which had a direct tie to the pain in my arm.
One day in Auschwitz I became so dispirited that I couldn't carry on. They had given me a beating, which wasn't exactly a pleasant experience. It was on a Sunday, and I said: 'I can't get up'. Then my comrades said: 'That's impossible, you have to get up, otherwise you're lost'. They went to a Dutch doctor, who worked with the German doctor. He came to me in the barracks and said: 'Get up and come to the hospital barracks early tomorrow morning. I'll talk to the German doctor and make sure you are admitted'. Because of that I survived.
The death of Walt Disney is a loss to all the people of the world. In everything he did, Walt had an intuitive way of reaching out and touching the hearts and mind of young and old alike. His entertainment was an international language. For more than 40 years, people have looked to Walt Disney for the finest quality in family entertainment. There is no way to replace Walt Disney. He was an extraordinary man. Perhaps there will never be another like him… The world will always be a better place because Walt Disney was its master showman.
Humans are pack animals. In Biblical times, the great market cities in Europe or the United States, people want to be with other people. And in a way, the more that we're isolated, whether we're living on farms and we're only talking to our cell phone, the greater the need we have for group experience. So while people are saying that no one is going to go shopping because it's just inconvenient, and it's not as easy as buying online, why are people going to concerts? Why are people going to museums? Why are they going to sporting events?
Despite the fact that Starbucks has grown to be a large company. We've always played music in our stores and has always acted as an opportunity to create a mood in our stores. And customers started asking, "What song are you playing and can I buy that?" . And we said "No." And that was kind of the catalyst for beginning to look at music. We started out with our own compilations and after the success of that. We had the courage to say, "Let's produce our own record." and the first record was with Ray Charles before he unfortunately passed away.
My Picassos and Ferraris - those are kind of just toys. Those aren't the things that matter. What matters in the car collecting or the art collecting is to learn about it, and then actually not the acquisition but to put them into a collection that I think is curated. You know, so something of me in the collection that the artist actually created the work. If I was going to collect art, it had to be something of me, my eye, things that appeal to me so when I looked at it, it would really look like a collection, not just an accumulation of stuff.
Recent events in the aftermath of Hurricane Katrina have reaffirmed for me, however, the complete folly of any Republican strategy to increase black representation in the Republican Party by appeals based on race. Whatever the name- 'African American Outreach' or 'Black Republicans for Bush'- any effort to attract blacks or any other ethnic group to the Republican party, based on explicit or implicit appeals to race or ethnic identity, are not only a waste of time and resources, but are also misguided and potentially quite damaging to the nation.
The company [Microsoft] really has to chart a direction in mobile devices. Because if you're going to be mobile-first, cloud-first you really do need to have a sense of what you're doing in mobile devices. I had put the company on a path. The board as I was leaving took the company on a path by buying Nokia, they kind of went ahead with that after I told them I was going to go. The company, between me and the board, had taken that sort of view. Satya, he's certainly changed that. He needs to have a clear path forward. But I'm sure he'll get there.
I had a friend who was the King's surgeon in England. One day I asked him what makes a great surgeon. He replied, "What distinguishes a great surgeon is his knowledge. He knows more than other surgeons. During an operation he finds something which he wasn't expecting, recognizes it and knows what to do about it." It's the same thing with advertising people. The good ones know more. How do you get to know more? By reading books about advertising. By picking the brains of people who know more than you do. From the Magic Lanterns. And from experience.
Our Heavenly Father loves each one of us and understands that this process of climbing higher takes preparation, time, and commitment. He understands that we will make mistakes at times, that we will stumble, that we will become discouraged and perhaps even wish to give up and say to ourselves it is not worth the struggle. We know it is worth the effort, for the prize, which is eternal life, is “the greatest of all the gifts of God.” And to qualify, we must take one step after another and keep going to gain the spiritual heights we aspire to reach.
I don't think I've invented anything. Henry Ford didn't invent the car, and Steve Jobs didn't invent the cell phone, and he didn't invent the digital revolution, but he could adapt, put things together in creative ways. So I think in what we do there's a lot of "let's try it and sees," whether it's a new color or a new style. But we didn't invent cosmetics or lingerie. How we market them - style, color - those are the things that we do, but it isn't pure creation. It's putting together ideas. I truly believe there's nothing really new in the world.
In order to be a success in business, there is one thing you must do. You cannot be successful without it. That is WORK. I have not told you anything new. Everyone knows that you cannot be successful in anything without work. Why does not everyone work? Because some lack the one thing that makes men want to work - ENTHUSIASM. That is something no one can give you. You must acquire it yourself, and the only way that you can become enthusiastic about anything is to have a thorough KNOWLEDGE of it. You have never seen an enthusiastic man who was lazy.
When we love something, emotion often drives our actions. This is the gift and the challenge entrepreneurs face every day. The companies we dream of and build from scratch are part of us and intensely personal. They are our families. Our lives. But the entrepreneurial journey is not for everyone. Yes, the highs are high and the rewards can be thrilling. But the lows can break your heart. Entrepreneurs must love what they do to such a degree that doing it is worth sacrifice and, at times, pain. But doing anything else, we think, would be unimaginable
If you wait through long, cold hours in the November woods with a bow in your hands hoping a buck will show or if you spend days walking in the African bush trailing Cape buffalo while listening to lions roar, you’re sure to learn hunting isn’t about killing. Nature actually humbles you. Hunting forces a person to endure, to master themselves, even to truly get to know the wild environment. Actually, along the way, hunting and fishing makes you fall in love with the natural world. This is why hunters so often give back by contributing to conservation.
Dating is like trying to catch a fish. Some guys go to the gym and have huge muscles and six-pack abs, and that attracts a lot of women. Other guys, they go and learn how to become pick-up artists so they charm their way into a woman's heart, at least for the night. Then there are guys like myself, who don't have either of those, but we have some level of generosity and can treat women with respect and open a door for them or buy them gifts. And surprisingly, buying presents happens to be one of the languages of love! And it's one that many women relate to.
Evolution is the only thing that exists through time. That is true for computers, or people, or a business. We tend to see things in a static way, and so you see what is. Even in looking at ourselves, what we really are is essentially vessels for our DNA that keeps evolving through time. So seeing that and embracing that reality, and thinking of everything as kind of this perpetual motion machine in which you embrace reality - you don't wish it was different. You realize that it's your puzzle to interact with. You interact with it well, you evolve yourself.
It's the luxury of time that lets me in some ways now spoil myself. I get my workout in every day. I get a good, long sleep every day. I won't say they're guilty pleasures. When I first left Microsoft, I would say I spent the better part of a year saying, "OK, how do I get as busy and crazy and manic as I was at Microsoft?" Since then I said, "No, I'll make a bigger contribution in this phase of my life by being able to pick and choose, not being so manic, having time to step back, a little more time for what I'll call discernment rather than just activity."
The one thing that I think separates Microsoft from a lot of other people is we make bold bets. We're persistent about them, but we make them. A lot of people won't make a bold bet. A bold bet doesn't assure you of winning, but if you make no bold bets you can't continue to succeed. Our industry doesn't allow you to rest on your laurels forever. I mean, you can milk any great idea. Any idea that turns out to be truly great can be harvested for tens of years. On the other hand, if you want to continue to be great, you've got to bet on new things, big, bold bets.
People are interested in certain ideas, in certain periods, and then that moves, and okay, now people are more interested in studying this, and there is no perfect balance, and how would you know what the perfect balance is? I mean, what does it mean to have too many Beethoven chairs and too few Stravinsky chairs? I mean, that's kind of a value judgment that isn't really based on humility. We don't know what the optimum number is, so let people figure this out on their own. People are more interested in Beethoven than Stravinsky? Great! Why would that bother me?
If you were charged with fixing the U.S. auto industry, how would you do it? The guys who run the auto companies are out of touch with their customers and their employees. They ride to work in their limousines. They go up in their elevators and lock themselves in their offices. They don't walk out into the plants. They wouldn't even drive in the neighborhoods where their employees live. They give themselves big bonuses when the company isn't making any money. I'd make them get involved with the people who are building the cars. They've got to become real people.
I think different societies, cultures, individuals, teams of people, make the world a better place. The founding fathers, they made New England, they made those 13 colonies. I don't know if they thought they were changing the world or just changing their world, but they did make the world a better place. Doctors that cure patients or cure diseases or make discoveries, they're making the world a better place. Can I make the world a better place by selling underpants? Not really. That's just the means. That gives me resources to try to make the world a better place.
Princeton has made an enormous difference in my life, and I am delighted to be able to express my gratitude in such a tangible way. The generosity of earlier generations of donors made it possible for me to attend Princeton as a young student from Hong Kong, and I have always wanted to do all I could to assure that students in the future.. from the United States and around the world.. will have the same kinds of opportunities I had to learn from faculty members who are leaders in their fields at a university that remains second to none in its commitment to teaching.
I think success is about purpose. People ask about success at different points in your life. As I look back, I think people that are successful feel good about what they are doing, and they can look back at what they've done and they feel good about it. People sometimes ask about success and they say, "What's your legacy?" and I say, "I think it's really a dumb question." I think the question is: What am I doing now? Do I feel good about myself? Am I proud of myself? Whatever purpose there is in life, I think success is about purpose. It's not about material things.
Meditation gives you two things: equanimity and creativity. And it does that by taking one from their conscious mind, where there's all that noise and chaos and so on, into the subconscious mind where there's quiet and where creativity emanates from. You have a mantra, and when you repeat it over and over again, all those thoughts go away because you shift them to that mantra. And then eventually that sound disappears, and then you're left not conscious or unconscious - you're left in this subconscious state, and by opening that up, first of all you get control of it.
As an engineer, I understood that the natural world operated according to fixed laws. Through my studies, I came to realize that there were, likewise, laws that govern human wellbeing. It seemed to me that these laws are fundamental not only to the wellbeing of societies, but also to the miniature societies of organizations. Indeed, that is what we found when we began to apply these principles systematically at Koch Industries. Through our observation of how they could create prosperity in an organization, I began to systematize my beliefs into Market-Based Management.
Putin doesn't conduct elections in the Western sense of elections. This is more accurately probably described as a plebiscite, where people are supposed to express their support for him. The Russian system is not unique in this respect, but it is rather interesting. Here, in the West, the impression that people have is that Putin runs the whole country. This is not so, at all. To a certain extent, you could say that he runs the Kremlin, and this means that it's, in some situations, hard to tell whether it's him running the Kremlin, or the people around him running him.
I do not know how history will judge me, but let me say that I've spent a lot of time and energy trying to transform the Tatas from a patriarchal concern to an institutional enterprise. It would, therefore, be a mark of failure on my part if it were perceived that Ratan Tata epitomises the Group's success. What I have done is establish growth mechanisms, play down individuals and play up the team that has made the companies what they are. I, for one, am not the kind who loves dwelling on the 'I'. If history remembers me at all, I hope it will be for this transformation.
The expression I use: Pain + Reality = Progress. Whenever I would have a painful mistake, I started to view that as puzzles that would give me gems if I could solve the puzzle. So, it made me thoughtful - what should I do differently next time? That was the puzzle. And the gem was some principle for handling the same thing when it came along again, and then I would write it down. And by writing it down and referring to it, and also being able to show it to other people so that we could agree that that was a good way of handling that thing - that was very, very powerful.
To have an idea meritocracy, one needs to do three things. First, they have to put their honest thoughts on the table, for everyone to look at and everyone to work through. Second, they need to have thoughtful disagreement, by which there are quality exchanges, in which there's open mindedness and the realization that no one has all the right answers. And you can work through that and get to better answers because good collective decision making is better than any individual decision making. And third, you have to have ways of getting past the disagreements if they remain.
I was recruited by Pepsi and put out in Pittsburgh, and I worked in the bottling lines, and then I was sent on to Phoenix, Arizona, where I also drove trucks and I put up signs, Pepsi signage, and I was then sent on to Las Vegas for a month of training, and then I finally ended up in Milwaukee. So I got a really hands - on introduction to the soft-drink industry. I was so appreciative of the fact that I was able to not only learn a business through what I learned at business school, but I was able to learn it with hands-on learning. I'm a huge believer in hands-on learning.
Let's say I am a chocoholic and I eat tons of chocolate a day. A hundred thousands of tons a day. I have this craving, but I can't afford it, so I get a printing press, and I start printing money, and I print billions and billions to buy chocolate. So I create this boom in the chocolate industry, so stores are running out of chocolate. So they have demand, so chocolate makers expand. Cocoa growers expand. You create this great boom. But now the feds arrest me and shut me down. And now there is a depression in the chocolate industry. That's what happens with the monetary policy.
T-Mobile is a young, consumer-driven business, and the average age of my customer outside of Bellevue is 27 or 28. They like outspoken, frank discussion. There was an event where it started to come together, I thought the audience would only care about the MLB guys, but they wanted to know what was on my mind. And I literally snapped about the state of the wireless industry. Over the next 24 hours, there was a lot of stuff that was coming out of my mouth that was meant to stay in Vegas, but it hit a chord. It was an action statement for me that I was going to fix this industry.
This is my year of transition from what I'm calling the second phase of my life to the third phase of my life. And I wanted to pass it along. What I mean by that is, in the first days of your life you're dependent on others and you learn. You're basically a kid, depending on your parents. In the second phase of your life, you're working and others are dependent on you and you're trying to be successful. And then when you go to the third phase of your life it's no longer as much of a kick to be successful. There's a natural, instinctual desire to help other people be successful.
Each one of us will travel a different road during this life. Each progresses at a different rate. Temptations that trouble your brother may not challenge you at all. Strengths that you possess may seem impossible to another. Never look down on those who are less perfect than you. Don't be upset because someone can't sew as well as you, can’t throw as well as you, can't row or hoe as well as you. We are all children of our Heavenly Father. And we are here with the same purpose: to learn to love Him with all our heart, soul, mind, and strength, and to love our neighbor as ourselves.
I have a bad rote memory, but I tend to learn through my experiences. And then when I went into the markets, and then starting my business as an entrepreneur, that affected my thinking a lot, too, because in order to be successful as both an investor and an entrepreneur, one has to be an independent thinker and bet against the consensus and be right. Because the consensus is built into the price, and if you're not an independent thinker in the markets you won't succeed. And if you're not an independent thinker as an entrepreneur starting out, you're not going to bring anything special.
We believe we're moving out of the Ice Age, the Iron Age, the Industrial Age, the Information Age, to the participation age. You get on the Net and you do stuff. You IM (instant message), you blog, you take pictures, you publish, you podcast, you transact, you distance learn, you telemedicine. You are participating on the Internet, not just viewing stuff. We build the infrastructure that goes in the data center that facilitates the participation age. We build that big friggin' Webtone switch. It has security, directory, identity, privacy, storage, compute, the whole Web services stack.
We needed to be uncompromising with our workforce, to expect 100 percent of our employees to comply 100 percent of the time with complex and ever-changing government mandates. Striving to comply with every law does not mean agreeing with every law. But, even when faced with laws we think are counter-productive, we must first comply. Only then, from a credible position, can we enter into a dialogue with regulatory agencies to demonstrate alternatives that are more beneficial. If these efforts fail, we can then join with others in using education and/or political efforts to change the law.