A Quote by Martin Cooper
Bell Labs was a fantastic research organization but having them create and market new products for the world was terrible. They were not good marketers and yet it was AT&T engineers who were deciding what the products of the future were.
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The 1920s and 1930s were a period of sensational productivity growth: new products were springing up all over the place, and most of those new products and new methods were developed by people who started their own companies.
The market is so competitive. There are so many products that are similar. So we are forced to invest in innovative research in new products that are one or two years ahead of the market.
We were in the market ahead of competition. We brought new products on the market ahead of competition. We rolled out our networks. We begged, borrowed, stole, put things out. And while they were never near perfect, they were first. And that gave us, to my mind, a lot of advantage.
My passion has been to build an enduring company where people were motivated to make great products. Everything else was secondary. Sure, it was great to make a profit, because that was what allowed you to make great products. But the products, not the profits were the motivation.
There were the days when women were under contract, and they were thought of as a commodity, so they hired the best writers and a lot of them were women at the time. This was in the thirties and forties, to make product for the people who were under contract, who were their assets to the studios. But that doesn't exist anymore - and as a result, the people who are in the industry write products that interest them.
Shifting Philip Morris to the new a non-risk products doesn't mean that I will give market share to my competitors free of charge. In the markets where we are not present with IQOS yet or the other reduced-risk products, you still need to defend your share of the market. They still represent the bulk of our income, and so far they have financed the billions of dollars we have put behind these new products. But once we go national in a market, and absent capacity constraints, then you shift your resources and your focus to these new products.
Over the years of running Into The Gloss, I began to see a gap in the way beauty companies were creating products and marketing them to women. There wasn't one brand that really spoke to girls like me, who created products for real life. So we set out to create that brand with Glossier.
Why do eight out of ten new consumer products fail? Sometimes because they are too new. The first cold cereals were rejected by consumers. More often new products fail because they are not new enough.
When deciding whether to fund and build a company, we start from basic principles and because many of the businesses and products that our companies create are a complete novelty to us, them and the market, we have to do the math.
The securitisation of mortgages added a new dimension of systemic risk. Financial engineers claimed they were reducing risks through geographic diversification: in fact they were increasing them by creating an agency problem. The agents were more interested in maximising fee income than in protecting the interests of bondholders. That is the verity that was ignored by regulators and market participants alike.
I'm such a product junkie - I love trying new products and new shades. For me, it's really exciting to see what new and wonderful products come onto the market.
Well, the big products in electronics in the '50s were radio and television. The first big computers were just beginning to come in and represented the most logical market for us to work in.
My children came out as individuals in their own right. They were not my products. They had their own characters and were very strong-minded. I gave them a lot of freedom when they were still very young. The one thing they got from me is morals. They would never betray anyone. They are really good people.
What if the Big Three automakers made products that were simple and easy to use - imagine a car with a user interface made by Apple - while also constantly trying to push the state of the art? What if they constantly sought out new technologies and ideas, and incorporated them into their products?
I was a consultant for Kodak back in the late 80's. There were engineers there who told me that in the future, most photographs would be taken on telephones. They weren't able to do anything with that. They were engineers, not management.
Brands were a by-product of having great products and communicating them well to people. Power stations that generate a lot of electricity probably have a lot of steam coming out of the chimneys. That doesn't mean to say that the engineers stand around working out how to make more steam.
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