A Quote by Buzz Aldrin
NASA needs to focus on the things that are really important and that we do not know how to do. The agency is a pioneering force, and that is where its competitive advantage lies.
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[In picking stocks] You really have to know a lot about business. You have to know a lot about competitive advantage. You have to know a lot about the maintainability of competitive advantage. You have to have a mind that quantifies things in terms of value. And you have to be able to compare those values with other values available in the stock market.
By the way, how much does NASA cost? It's half a penny on a dollar. Did you know that? ... The most powerful agency on the dreams of a nation is currently underfunded to do what it needs to be doing, and that's making dreams come true ... How much would you pay for the universe?
America's competitive advantage lies in its human talent. All of us should be doing everything we can to cultivate and develop our work force.
The NRO is like a secret twin to NASA. It's the U.S.' 'other' space agency. The agency is about as old as NASA, but its existence was secret until 1992.
When thinking about how to deploy kind of professional and social networking into your business, it's really not a question of if, it's a question of when. And the reason is, just think about the fact that those businesses that adopt new technologies to operate efficiently and use them to get a competitive edge are the businesses that in fact, you know, it becomes one more competitive advantage. Whether it's a fax machine or a mobile phone or a new way of doing financing or any of these things, you know, these are key things to do.
Times of economic crises can change what the competitive landscape looks like, because when, for example, you have boom times, capital is easy to come by, growth is easy, sometimes what you focus on is, you know, how to accelerate in the boom. During economic crises, the question is, the companies that come out of, you know, that are sailing through that with the best liquidity, both assets on the balance sheet, making money, ability to grow their businesses, get a disproportionate competitive advantage.
The first rule of success, and the one that supersedes all others, is to have energy. It is important to know how to concentrate it, how to husband it, how to focus it on important things instead of frittering it away on trivia.
I'm very competitive, but I know when not to be competitive. I know how to have fun, but I know when it's time to get serious. That makes things a lot easier.
We need to be very thoughtful about how we propose to spend the money that NASA does have for space exploration. And we need to be clear that there's the human spaceflight part of NASA, and there's the science space part of NASA, and there's also aeronautics. Those are all very different things that NASA does.
The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.
To reform the Secret Service, the agency needs a director from outside the agency who will be immune from that culture and not beholden to entrenched bureaucrats within the agency.
One of the best things I ever did was to train in a practical skill. I love computers and they've become such a part of life, especially to the world of design. But it's important to understand that they are a tool, as much as a hammer or a saw is a tool. Computers don't help you design. There needs to be more emphasis on training young designers in how to build things. A good writer needs a good vocabulary. A good designer needs to understand his materials and processes. You can't, as a successful designer, pretend to get any respect if you don't know how things are made.
NASA calls stuff nominal instead of phenomenal, like it really is. So I have given up that there is going to be a balance and NASA is going to do certain things and we are finally in a state of existence where small groups of individuals can do extraordinary things, funded by single people.
Our busy lives force us to focus on things we do from day to day. But the development of character comes only as we focus on who we really are.
We actually look to the scientific community to kind of come back to NASA and tell us what the priorities should be. And then at NASA, we try to look within our budget and say, 'What can we accommodate, and what are the most important things for the nation?'
In a world where routine production is footloose...competitive advantage lies not in one-time breakthroughs but in continual improvements. Stable technologies get away.
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