A Quote by Nick Hanauer
Like most plutocrats, I, too, am a proud and unapologetic capitalist. I have founded, cofounded or funded over 30 companies across a range of industries. I was the first non-family investor in Amazon.com. I cofounded a company called aQuantive that we sold to Microsoft for 6.4 billion dollars. My friends and I, we own a bank.
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A father and two sons run Adelphia. It's a cable company. And they took from that company a billion dollars. A billion. Three people - three people took a billion dollars. What were they gonna do, start their own space program? 'Let's send the monkey to Mars, Dad!'
This sounds crazy, I know, but you can make a billion dollars - very few people do - but you can make a billion dollars on a product. It can be "Lion King," it can be "Simpsons," it can be "Family Guy," who knows what it is. Or you can make zero. But you can't make a billion dollars if you don't own it.
This paradox of vision - the genius of youthful ignorance - is nothing new. Had Bill Gates not been in diapers in the early days of computer software, he might have understood that there could never be a market for consumer software - but the 19-year-old Gates went ahead and cofounded Microsoft.
Nvidia's CEO, Jen-Hsun Huang, is an engineer and a chip designer. He cofounded Nvidia and still runs it like a startup.
And that's the secret. Timing, hard work and smart partners. Using that formula, I've either founded or funded over 80 companies, and none have gone bankrupt. Most have done very well.
Pfizer's actually teamed up with my nonprofit organization, which is called Adaptive Action Sports. I cofounded this organization in 2005 to help people with physical disabilities get involved in action sports, go snowboarding, skateboarding.
I have a company that is not Microsoft, called Corbis. Corbis is the operation that merged with Bettman Archives. It has nothing to do with Microsoft. It was intentionally done outside of Microsoft because Microsoft isn't interested.
The problem is that the way [President] Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion dollars for the first 42 presidents - number 43 added $4 trillion dollars by his lonesome - so that we now have over $9 trillion dollars of debt that we are going to have to pay back. [That's] $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic.
If GE's strategy of investment in China is wrong, it represents a loss of a billion dollars, perhaps a couple of billion dollars. If it is right, it is the future of this company for the next century.
So far as a man may be proud of a religion rooted in humility, I am very proud of my religion; I am especially proud of those parts of it that are most commonly called superstition. I am proud of being fettered by antiquated dogmas and enslaved by dead creeds (as my journalistic friends repeat with so much pertinacity), for I know very well that it is the heretical creeds that are dead, and that it is only the reasonable dogma that lives long enough to be called antiquated.
Over 30 years ago, Airbus was founded by a European consortium of French, German, and later Spanish and British companies to compete in the large commercial aircraft industry with U.S. companies.
I am truly an angel investor and I'am not a passive investor.As a passive investor, I am awful because I can not put funding into a company and leave it to other people.
Bill Gates has 90 billion dollars ... If I had 90 billion dollars, I wouldn't have it for long because I would just dream of all the crazy stuff I could do with it. This guy, 90 billion dollars. He could buy every baseball team and make them all wear dresses and still have 88 billion dollars.
When you look at a company like Amazon, one of the reasons that Amazon is one of the most powerful companies in the world is because we want to buy cheap stuff. If Donald Trump were to change trade laws, we couldn't buy the cheap stuff or in our Wal-Marts, they would cost a whole lot more.
We need to digitize from the inside of our business, but at the same time, finding the best solutions will require our industry to partner with companies across a wide range of industries.
Today, we have our own concentrations of economic power. Instead of Standard Oil, U.S. Steel, the Union Pacific Railroad, and J. P. Morgan and Company, we have Amazon, Google, Apple, Facebook, and Microsoft.
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