A Quote by Scott Cook
Before 1980, it was basically illegal for U.S. banks to invent new products.
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When you advance a frontier, you're doing something that no one has done before. Every time that happens, you have to innovate. You have to think in new ways that hadn't been thought before. You have to invent a new piece of hardware, a new concept, a new law of physics, a new material, a new construction material to enable you to accomplish what it is that you chose to reach for by dreaming about tomorrow.
In the United States there are only two exceptions: banks have to report deposits they suspect to be related to either terrorism or drug trafficking. But if your funds derive from trafficking women and children for sexual exploitation, for example, or from illegal arms trafficking or any other illegal activity, then banks in the US are legally free to accept your money and are not required to report your deposit to the authorities.
There used to be corporations that produced products. Now there are just banks that produce deals, hedge-fund-driven banks and derivatives and those things.
What we used to have in Britain was professions, and then we had industry. Then at some point, maybe with Margaret Thatcher, we suddenly industrialised our professions. And now we have lawyers with products and banks with products, and lecturers and teachers with products.
I don't think I've invented anything. Henry Ford didn't invent the car, and Steve Jobs didn't invent the cell phone, and he didn't invent the digital revolution, but he could adapt, put things together in creative ways. So I think in what we do there's a lot of "let's try it and sees," whether it's a new color or a new style. But we didn't invent cosmetics or lingerie. How we market them - style, color - those are the things that we do, but it isn't pure creation. It's putting together ideas. I truly believe there's nothing really new in the world.
We like to invent new disciplines or look at new problems, and invent bandwagons rather than jump on them.
When you invent the ship, you also invent the shipwreck; when you invent the plane you also invent the plane crash; and when you invent electricity, you invent electrocution...Every technology carries its own negativity, which is invented at the same time as technical progress.
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.
Companies often visit my office, or invite me to theirs, to brief me on new products, Web sites, or software before they are released - usually a few weeks or days ahead of time. I don't review most of these products.
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.
Each time I invent something and have it manufactured, it's so incredibly exciting that I can't imagine ever wanting to stop. Envisioning new products is easy for me. I just don't have enough time in the day to design them all.
As a student, I had a hobby of inventing new ideas for products. For me, thinking of new businesses is like inventing new products.
So it's really for us about new products, because we have released a lot of new products.
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.
So, what exactly is the News-Press' unforgivable crime? Calling illegal aliens 'illegals' in a headline for a story about illegal aliens descending on California DMVs. A new law went into effect last Friday allowing illegal aliens to obtain driver's licenses without proof of lawful residence. The article featured interviews with ecstatic illegal aliens, including one who has been in the country illegally for '22 years.'
Before the 1970s, banks were banks. They did what banks were supposed to do in a state capitalist economy: they took unused funds from your bank account, for example, and transferred them to some potentially useful purpose like helping a family buy a home or send a kid to college.
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