A Quote by Michael Lewis
All that was clear that the profits to be had from smart people making complicated bets overwhelmed anything that could be had from servicing customers, or allocating capital to productive enterprise.
Quote Topics
Quote Author
Related Quotes
The idea that the profits of capital are really the rewards of a just society for the foresight and thrift of those who sacrificed the immediate pleasures of spending in order that society might have productive capital, had a certain validity in the early days of capitalism, when productive enterprise was frequently initiated through capital saved out of modest incomes.
I think maybe 50 years ago people and businesses felt like they had to choose between maximizing profits and making customers happy or making employees happy, and I think we're actually living in a special time where everyone's hyperconnected, whether through Twitter or blogs and so on. Information travels so quickly that it's actually possible to have it all, to make customers happy through customer service, to make employees happy through strong company cultures, and have that actually drive growth and profits.
I've never been in the enterprise where your customers are your partners. It was always, you had customers, and you had partners.
There's a few historical reasons for why git was considered complicated. One of them is that it was complicated. The people who started using git very early on in order to work on the kernel really had to learn a very rough set of scripts to make everything work. All the effort had been on making the core technology work and very little on making it easy or obvious.
CEOs are also chief capital allocators. This is a point Warren Buffett has repeatedly made: that the role management plays in allocating capital across businesses and boosting returns on that capital is a critical yet poorly recognized one.
Customers will always be nervous about lock-in, and I think the experience they had particularly with a company like Oracle, where it's a really hard thing to get out of, and they're so hostile to their customers, that I think it's a concern for every enterprise.
I think I get way too much credit for making what people consider to be smart choices, but it's only because I made a decision to stop worrying about making money. I had done network sitcoms. I had a nest egg.
I've been fortunate to have had the life I had prior to Hollywood. I wasn't starving, I was going to eat the next day. I came to Hollywood wanting a career that had longevity, and I wasn't afraid to take risks because I had a dollar in the bank. I wasn't driven by money as much as I was driven by making a successful transition. And I was smart enough to know that I certainly didn't have all the answers and I needed to surround myself with smart people and be willing to take risks and be willing to fail.
All people, entrepreneurs as well as non-entrepreneurs, look askance upon any profits earned by other people. Envy is a common weakness of men. People are loath to acknowledge the fact that they themselves could have earned profits if they had displayed the same foresight and judgment the successful businessman did.
I think I've got my business notions and my sense for that sort of thing from my dad. My dad never had a chance to go to school. He couldn't read and write. But he was so smart. He was just one of those people that could just make the most of anything and everything that he had to work with.
Starting my own business was kind of a wakeup call in a number of different ways. I had to meet a payroll every week, and we had to satisfy customers, and we had competitors that we had to compete with in order to have those customers come into our stores, and we had to compete with other employers for our employees.
What I learned about America is that anything is possible, but sometimes people get into businesses they shouldn't be in. They go in without capital or know how, but their mothers had told them that they could cook, and they're good with people.
I grew up with plenty of smart people. They would beat me at chess; they could solve brain teasers before I could, but then they would struggle in algebra. These were incredibly smart people who simply did not have the foundation in math that I had.
You know what works in venture capital? A group of incredibly smart, connected people who have the financial wherewithal and risk appetite to make multi-million dollar bets on unproven ideas and inexperienced founders. People who can make decisions quickly, and who spend their time trying to help entrepreneurs make the most of that cash.
So that the record of history is absolutely crystal clear that there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free-enterprise system.
So that the record of history is absolutely crystal clear. That there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.
Related Authors
Brian Tracy Quotes
American
Author
Cassandra Clare Quotes
American
Author
Frederick Lenz Quotes
American
Author
Henry David Thoreau Quotes
American
Author
J. K. Rowling Quotes
English
Author
Jodi Picoult Quotes
American
Author
John Green Quotes
American
Author
Joyce Meyer Quotes
American
Author
Marianne Williamson Quotes
American
Author
Neil Gaiman Quotes
British
Author
Richelle Mead Quotes
American
Author
Rick Riordan Quotes
American
Author
Robert Kiyosaki Quotes
American
Author
Stephen King Quotes
American
Author
Terry Pratchett Quotes
English
Author
Virginia Woolf Quotes
British
Author