A Quote by Jimmy Iovine
Diversifying, to me, is the product of having an idea and knowing to say, 'Let's do it.'
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It's the disease of thinking that a having a great idea is really 90% of the work. And if you just tell people, 'here's this great idea,' then of course they can go off and make it happen. The problem with that is that there's a tremendous amount of craftsmanship between a having a great idea and having a great product.
It was special with me being from Memphis and knowing the history of the venue, knowing all of the artists who performed in the Orpheum before me. Even having the idea to approach it was ambitious on my part, but I thought they would turn me down at first.
Having a great idea for a product is important, but having a great idea for product distribution is even more important.
You paint the way you have to in order to give. That's life itself, and someone will look and say it is the product of knowing, but it has nothing to do with knowing, it has to do with giving.
I think the critical thing is the product or service that you're trying to raise money for. And probably the best description of that, people should say when they hear, "This is what I want to do. This is what I want to bring to the market." They should say, "Gee! That's a great idea" or "Gee! Why hasn't somebody else thought of that before? Well, that's an incredible idea!" In other words, the more a person is delighted, or astonished, or happy with your product, or service, or idea, the more happy they are to put up money for it.
I love cars; I like the idea of manufacturing something, having a product, a hard product to sell and promote, but as time went on, I recognized that car companies are so bureaucratic and so ossified that it would take forever to work your way up. And so I went into consulting.
If I hear Anna say something, and I completely misheard her say it, and she goes, 'That's not what I said, but that's a great idea.' Whose idea was it? It was nobody's idea. It came out of thin air, but it was a misunderstanding. That's really what's fun about having a partner to throw ideas off of. Sometimes you get those good accidents.
When you diversify your mutual funds, you are diversifying something that is already diversified. Diversifying mutual funds is like taking high octane gasoline & adding water & then adding orange juice to it.
CEOs are often chief product officers. But for me to say I'm a chief product officer when my product is a community, I really should be thinking of myself as head of this community.
This is what youth must figure out: Girls, love, and living. The having, the not having, The spending and giving, And the meloncholy time of not knowing. This is what age must learn about: The ABC of dying. The going, yet not going, The loving and leaving, And the unbearable knowing and knowing
I'm not trying to be noble. I'm afraid. And the idea of having more love than I've ever had-- and knowing I might never have it again-- that scares me worse than anything.
Imagine how foolish you'd look if, like one clever salesman who once pitched to me, you tried to license your product to a big industry player without knowing they just launched a competing product. With the right background research, he could have avoided that and other landmines - and so can you.
I think there are lots of opportunities to improve the product. When you read the press, people say, "Oh, the product needs improvement." I look at that and say, "Hey, that's an exciting thing to get behind!" Because they can improve that product. That leaves more upside from an innovation and revenue potential than you're gonna find in a lot of places. So you could say that's a downside, I see that as an opportunity.
When I lecture kids, I say, 'You've got to be ambitious by the advertising' - ambitious. You've got to say, 'See, this product? Maybe I can change the world with this product.' They look at me like I'm nuts, but that's what you can do.
Just having the internet is a weird and dangerous thing because people become accustomed to knowing things when they want to know them and not having to work for it. I definitely see the value in not knowing everything and having mystery in life and mystery in people.
My preparation is mainly just knowing the lines and getting in and knowing where your character is, knowing what it's about and having ideas that you can put in on the day.
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