A Quote by Sallie Krawcheck
Whenever you start a new business, the sheer number of variables at hand makes failure a constant possibility.
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I believe that the constant possibility of failure or possibility of decision-making feeds your creativity.
I like intersections. They're the nature of New York, and there's always the possibility that when you're at one you can meet someone new. Have I ever met anyone new at an intersection? No, but I like the idea of it. I like cities because if you're stopping on the corner to wait for a light to change, there's the possibility that you and somebody else can talk. And if you and that somebody else start to talk, then you can start to argue, and if you start to argue, you might start a revolution.
You go ask any founder of any company why he or she did it, you will never hear, "I wanted to create jobs for the community" as the number one, number two, number three, number four, number five, number 10 reason for doing so. That is a result of the success the business enjoys. Creating jobs is not why people start businesses. Creating jobs is not how people innovate in business. It's not how they compete.
Never admit the possibility of failure, or speak in a way that infers failure as a possibility.
Business model innovation is constant in this economy. You start with a vision of a platform. For a while, you think there's a line of sight, and then it's gone. There's suddenly a new angle.
New York makes me swoony and in love. The New York of the 1880s was a place where black eye fixers did a brisk business and people were routinely killed for their shoes. But, the constant aspiration of the city never changes.
But that constant adjustment and adaptation to your new environment, all the variables are the same. There's always a promoter, there's always a rider, there's always a shower, and there's always a stage.
If you can't embrace both failure or the possibility of failure, or the tremendous fear of failure, you can't be wildly successful. It's just an axiomatic truth.
Whenever there's a new music, there's a new way of listening. And whenever there's a new way of listening, there are new musics that follow from that. And people start listening differently - that can either mean in different places or at different volumes or in different social groups or through different technologies.
The variables vary too much and the constants aren't as constant as they seem.
The other way is the multiverse way. That says that maybe the universe we are in is one of a very large number of universes. The vast majority will not contain life because they have the wrong gravitational constant or the wrong this constant or that constant. But as the number of universes climbs, the odds mount that a tiny minority of universes will have the right fine-tuning.
Whenever one or more components of a company's business model changes, new business models are created for supporting companies. The changes might involve niches served, new marketing angles or improved value propositions.
The essence of man is imperfection. Failure is simply a price we pay to achieve success. If we learn to embrace that new definition of failure, then we are free to start moving ahead - and failing forward.
The government should not be in control of the private sector. You create opportunity, you create business, you create development, you hand it to the investor and start creating something new.
I am convinced that whenever we exaggerate or demonize, oversimplify or overstate our case, we lose. Whenever we dumb down the political debate, we lose. For it's precisely the pursuit of ideological purity, the rigid orthodoxy and the sheer predictability of our current political debate, that keeps us from finding new ways to meet the challenges we face.
The blockchain applications market is unravelling along a segmentation of activity that is spread along two sets of variables: private vs. public blockchains, and new vs. existing business models.
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