A Quote by Lawrence Summers
Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular.
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Rocinante was of more value for a true traveller than a jet plane. Jet planes were for business men.
Failures are much more dramatic than successes, and people like drama. I think this is why automobile races draw such crowds. People expect spectacular crashes, which we tend to find more interesting than cars just racing around the track. The same is true of bridges, buildings, or any structure or machine.
I saved $725 million on the 90 planes. Just 90. Now there are 3,000 planes that are going to be ordered. On 90 planes I saved $725 million. It's actually a little bit more than that, but it's $725 million. Gen. Mattis, who had to sign the deal when it came to his office, said, "I've never seen anything like this in my life." We went from a company that wanted more money for the planes to a company that cut. And the reason they cut - same planes, same everything - was because of me. I mean, because that's what I do.
At some point, Apple will become much more aggressive and much more daring in taking their brand and capital to really reshaping markets.
Global companies can raise capital much easier than local Indian companies can because they have access to many more markets than we do, and this ends up distorting competition.
The innovation industries are rapidly going global. In five years, more than 50% of venture capital returns will come from markets outside the United States, including China, India, Brazil, and Australia, and AlwaysOn events are on top of these trends.
The armed forces are paying a lot more attention to the use of energy. The Air Force has realized that the paint on planes is heavy, so there are going to be a lot more silver planes, or planes painted in a less heavy way, so that you are using less fuel to get from point A to point B.
At a certain fork in the road of automatization, Europeans chose to have more time, and they work far less than we do and get much longer vacations. We chose to have more stuff, the stuff sold to us through those beckoning adjectives-bigger, better, faster: Jet Skis, extra cars, second homes, motor homes, towering slab TVs, if not the time to enjoy them or to enjoy less commodified pleasures.
As I talk with the Chinese on currency, I encourage them to move much more quickly with opening up their capital markets to competition, because I don't believe the world is going to give them as much time as they would like.
We're subject to the same forces of capitalism that have built the entire American economy. Strong returns induce more capital flow, which creates more competitors, and you have to evolve and get better, or you die.
But in general, as countries get wealthier, there's going to be more savings, which means you're going to have intermediation. So part of it is just the huge growth in wealth, and part of it was globalization - these companies, these clients getting much bigger and much more global.
The digital revolution is far more significant than the invention of writing or even of printing.”“The better we get at getting better, the faster we will get better.”“In 20 or 30 years, you’ll be able to hold in your hand as much computing knowledge as exists now in the whole city, or even the whole world.”“The rate at which a person can mature is directly proportional to the embarrassment they can tolerate.”“The key thing about all the world’s big problems is that they have to be dealt with collectively. If we don’t get collectively smarter, we’re doomed.
Unlike national markets, which tend to be supported by domestic regulatory and political institutions, global markets are only 'weakly embedded'. There is no global lender of last resort, no global safety net, and of course, no global democracy. In other words, global markets suffer from weak governance, and are therefore prone to instability, inefficiency, and weak popular legitimacy.
One of the problems with industrialism is that it's based on the premise of more and more. It has to keep expanding to keep going. More and more television sets. More and more cars. More and more steel, and more and more pollution. We don't question whether we need any more or what we'll do with them. We just have to keep on making more and more if we are to keep going. Sooner or later it's going to collapse. ... Look what we have done already with the principle of more and more when it comes to nuclear weapons.
When you see the same familiar faces, it's nice when you get a chance to play with the same musicians. You start to develop this shorthand so everybody knows where you're at and where you're going, but then again, there are always surprises. But the more people are comfortable with the material, the more free you can be with the music.
When you have different kinds of scientific and mathematical minds approaching problems, you will get more solutions. This leads to more innovation and more creative design.
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