A Quote by Bob Davids
Every time I started a business and the people told me I was an idiot, I ended up making a lot of money. Si Redd used to say me, "Boy, you gotta be where they ain't." What that means is that you find areas of low competition because high competition means lower margins, and lower margins mean less profit. So we were always looking for places where we can be unique. If the thinking is out-of-the-box, people may not understand because they have not seen it before... Therefore you are an idiot.
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Profit margins are probably the most mean-reverting series in finance, and if profit margins do not mean-revert, then something has gone badly wrong with capitalism. If high profits do not attract competition, there is something wrong with the system and it is not functioning properly.
In truth, Wall Street is in for a radical makeover. Fewer people, lower margins, lower risk, lower compensation - and ultimately, fewer talented people. It is likely to change the culture of an industry that for nearly a century has been the money center of the world.
My understanding from talking to a lot of people in the business has been that it used to be that a newspaper was considered a community service. Now they're being run as profit centers, and they're trying to get pretty high profit margins. As a result, investigative reporting has been seen as a problem.
The U.S. and European markets have become mature, profit margins are lower, and equipment isn't so new. Because profits are relatively low, it limits the willingness of companies to invest in newer equipment.
The U.S. and European markets have become mature, profit margins are lower, and equipment isnt so new. Because profits are relatively low, it limits the willingness of companies to invest in newer equipment.
In the U.S., PC-makers have no incentive to lower prices because it kills their profit margins. They keep adding new features like high-end retina displays and faster processors to justify their high prices.
I've seen a lot of people getting into Jazzmasters because of me, and, well, people don't know what they're in for. I mean if you're looking for endless sustain, you're going to have to get it out of your hands (laughs). Because a saxophonist gets it out of his breath. You've got to work for it on the guitar - it means you have to pull it out of yourself, otherwise, what are you doing? You end up playing a lot of noise or scale exercises.
Obviously you have to make a profit to put out a newspaper. I'm not an idiot. But when the margins are in excess of 25 per cent you're talking about greed.
Just because you’ve only been alive for fifteen years doesn’t mean you’re less anything except old. That’s all it means. It doesn’t mean you’re less experienced. It doesn’t mean you’re less intelligent. It doesn’t mean you’re less sensitive. It doesn’t mean you take things less seriously. It’s like, these are younger human beings, meaning don’t, because they’re only ten, start thinking that they don’t know what you’re talking about -because they do. Don’t leave people out in the cold, and don’t talk down to people -don’t. It never works out.
People always say there is competition in nature, but I think that because we are human, it's not only competition. Because we are human we have something other than competition - sharing, helping others, or being oneself. Competition is really kind of ugly.
Think how weird profit margins are: We've got high unemployment and financial crises - and world record profit margins. People think the American market is very cheap. We don't. The market quite incorrectly gives full credit to today's earnings.
How could Digital's collapse be so precipitous? It's because, in many ways, financial performance data is misleading. As you move up to the top of the market, you're getting rid of the less profitable products at the low end and adding business with more attractive margins at the high end. The rate of unit volume growth might be tapering off as you pursue these smaller markets, but your margins actually look better. So Wall Street rewards your stock price until you hit the ceiling.
Bureaucracy has murdered people in the greater New Orleans area and bureaucracy needs to stand trial before Congress today. So I'm asking Congress, please investigate this now. Take whatever idiot they have at the top of whatever agency, give me a better idiot. Give me a caring idiot. Give me a sensitive idiot. Just don't give me the same idiot.
What corporations fear is the phenomenon now known, rather inelegantly, as 'commoditization.' What the term means is simply the conversion of the market for a given product into a commodity market, which is characterized by declining prices and profit margins, increasing competition, and lowered barriers to entry.
The size of your key ring is the size of your headaches. Si Redd once told me, "Every time you buy something you sell a piece of yourself." Why? Because you have to maintain it, to insure it, to worry about it. So the more you buy, the more you sell a piece of yourself and pretty soon you get so thin you can't do anything. So get rid of all those things and get back to the basics. Everybody has his own basics: it's what he enjoys. Si Redd told me I would "arrive" when I got down to one key. Still working on that!
Teachers try to make us feel lower than themselves, maybe because this is because they feel lower than outside people. One teacher told me to get out of the room and never come back, which I did.
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