A Quote by Sam Altman
Share results (financial and key metrics) with the company every month.
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When dozens of company results are flooding newspaper offices everyday, an occasional fraudster slips in what looks like an authentic press release, with fake company results/information aimed at manipulating share prices.
It's not about market share. If you have a successful company, you will get your market share. But to get a successful company, what do you have to have? The same metrics of success that your customer does.
At Travelers, we were much more opportunistic. It was very successful, but it wasn't an integrated financial services company. We had a property casualty company, a life company, a brokerage company. We were a financial conglomerate. It wasn't a unified, coordinated strategy of any sort. When it merged with Citi, that became a big issue; Citi, at that time, wasn't yet a fully integrated, coordinated company.
We generally acquire a company every three to four weeks on average. And so it's a rare month that there's not a company being bought. We typically buy for technology and really great people.
There are 11 states in the United States that in the last 50 years instituted an income tax. So I looked at each of those 11 states over the last 50 years, and I took their current economic metrics and their metrics for the five years before they put in the progressive income tax... Every single state that introduced a progressive income tax has declined as an overall share of the U.S. economy.
People invest in companies in order to get a share of the profit that company will make. If the Government increases its share of the profits, potential profits, at the expense of the owners of the company, the shareholders, then that makes investment in that company less attractive.
Apparently modern financial regulators are vastly more sophisticated than we were as financial regulators 25 years ago - because we had never figured out that the key to financial stability was leaving felons in charge of the largest financial institutions in the world.
The list of companies that have added their own financial metrics is not a savory group.
If we are going to be able to create a new economic vision, companies will need to rethink every aspect of their operations; their bottom lines, ownership structures, demands on financial returns, how they raise capital. For example, an ethical company would say it should only take a fair share of the planet's resources and campaign on this.
Smart financial planning - such as budgeting, saving for emergencies, and preparing for retirement - can help households enjoy better lives while weathering financial shocks. Financial education can play a key role in getting to these outcomes.
You need to simplify the value proposition in the company's metrics for success on a whiteboard.
There are three objectives for content marketing: reach engagement conversion. Define key metrics for each.
Hard numbers tell an important story; user stats and sales numbers will always be key metrics. But every day, your users are sharing a huge amount of qualitative data, too - and a lot of companies either don't know how or forget to act on it.
Without the right marketing metrics, you are shooting in the dark. The only way to know if things are working for you or not is those metrics.
In terms of companies, they must stand for something bigger. They must be dedicated to something larger than financial results. I reject the Milton Friedman belief that a company's sole responsibility is to the shareholders.
No financial man will ever understand business because financial people think a company makes money. A company makes shoes, and no financial man understands that. They think money is real. Shoes are real.
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