A Quote by Tobias Lutke
Our mantra has been, 'We will not buy a company unless we think the people that make up the company have a better job the day after the acquisition than before.'
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What's been unique about our acquisition is that Google is leaving us independent. That actually means that the company is structured the same... We really are a company within a company.
When you're in a start-up, the first ten people will determine whether the company succeeds or not. Each is 10 percent of the company. So why wouldn't you take as much time as necessary to find all the A players? If three were not so great, why would you want a company where 30 percent of your people are not so great? A small company depends on great people much more than a big company does.
We find that when we make an acquisition, or we have a hiring experience, that's one of the hardest things to change. If you've been working for a company where you didn't dare challenge your boss, or what's politically correct in the company, then it affects your career.
Every job in a company is important. Unless you experience a wide range of those jobs, I don't think you are as well prepared to start and run a company as you could be.
My job is to not be easy on people. My job is to make them better. My job is to pull things together from different parts of the company and clear the ways and get the resources for the key projects. And to take these great people we have and to push them and make them even better, coming up with more aggressive visions of how it could be.
If I ran the whole place like it was my way or the highway, we would not be as good a company. I'm going to have mistakes - they'll be made on my watch and will embarrass me. But I'll also make sure the company learns from them so it can become a better company.
When you buy enough stocks to give you control of a target company, that's called mergers and acquisitions or corporate raiding. Hedge funds have been doing this, as well as corporate financial managers. With borrowed money you can take over or raid a foreign company too. So, you're having a monopolistic consolidation process that's pushed up the market, because in order to buy a company or arrange a merger, you have to offer more than the going stock-market price. You have to convince existing holders of a stock to sell out to you by paying them more than they'd otherwise get.
When there is some fear about accounting and growth and the economy, food stocks are a decent place to be, ... This company has been through a bit of a restructuring the last couple of years. Management is doing a great job. The company is improving and people are buying chocolate. So, what a great week to buy it.
Being in compliance with industry standards is less than 5 percent of what companies need to do to make food safe. Company after company finds that out after they have events.
My biggest dream for this company is to restore it - to bring Time Warner back to the position that I think it once had and, even better than that, to make it the greatest company in the media and entertainment world.
Why are we here? I think many people assume, wrongly, that a company exists solely to make money. Money is an important part of a company's existence, if the company is any good. But a result is not a cause. We have to go deeper and find the real reason for our being.
You know, I'm behind my company. My company has been a big part of my life. And it's not that I been buying a company or that my father bought a company and tried to do something out of it. You know, it's not the same thing. It's my name, it's my company, it's my signature.
When I started my first company, I still had a 40-hour a week job. I was working on my company on nights and weekends before I took the plunge and gave up a salary.
There are two kinds of people... There are the dreamers who go and buy, and there are the doers who go and make. And I've always recognized that. So the dreamers are what support our company because they will buy the product that they could make if they wanted to, had time to, or were so inclined to.
Good developers like seeing their products sell in large quantities. They enjoy the competition of doing a better job than the other company, especially if the other company has more people on the project and they're entrenched and people are saying that we don't have a chance of getting in there and... and doing well.
If you are a manufacturer, an Internet company doesn't suit you. An Internet company does not display your product; it can't upsell. But we do a better job than any of the opposition.
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