A Quote by Walter Schloss
We get a feeling, if we can, about what we think the company is worth.
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Something worth doing might take a while, so really flesh out the potential of the business and be honest about whether it's worth doing. If it's not a $100 million company in five years, maybe it'll take 10 or 15 years. If you're doing something that has a universal, timeless need, then you need to think of the company in a timeless way.
I felt, that night, on that stage, under that skull, incredibly close to everything in the universe, but also extremely alone. I wondered, for the first time in my life, if life was worth all the work it took to live. What exactly made it worth it? What's so horrible about being dead forever, and not feeling anything, and not even dreaming? What's so great about feeling and dreaming?
You were just worried about me." An exhale, relieved that I had understood. "Yeah" I turned. "Because you think I'm worth it" He put his fingers under my chin. "I absolutely think your worth it." "But you don't think you are." His mouth opened. Shut. "That's what this is about, Derek. You won't let us worry about you because you don't think you're worth it. But I do. I absolutely do.
My contract with mercury PolyGram Nashville was about to expire. And I never had really been happy. The company, the record company, just didn't put any promotion behind me. I think one album, maybe the last one I did, they pressed 500 copies. And I was just disgusted with it. And about that time that I got to feeling that way, Lou Robin, my manager, came to me and talked to me about a man called Rick Rubin that he had been talking to that wanted me to sign with his record company.
I think the next massive wave of value creation will be when you can get a manufacturing company or agriculture devices company or a health care company to develop dozens of AI solutions to help their businesses.
I think a lot of people get into what they're eating. Yes, it's important, but at some point, let's think about what we're feeling. It can become a control issue to control everything that you're eating and the exercise that you're doing. I think it's good to do a bit of everything, but to just notice how you're feeling when you wake up in the morning.
You get in a lot of trouble when you start putting fictitious numbers on value. I think to just say, we're going to say a dollar of cash is worth $2 all of a sudden, it isn't worth $2. It's worth a dollar today. And I think once you start putting phony figures into financial statements, you get in a lot of trouble.
I always tell guys to get paid what you are worth and know what you are worth so that if you are worth it, you will get that number.
The First Splendid Truth: To be happy, I need to think about feeling good, feeling bad, and feeling right, in an atmosphere of growth.
I bought a company in the mid-90s called Dexter Shoe and paid $400 million for it. And it went to zero. And I gave about $400 million worth of Berkshire stock, which is probably now worth $400 billion. But I've made lots of dumb decisions. That's part of the game.
I bought a company in the mid-'90s called Dexter Shoe and paid $400 million for it. And it went to zero. And I gave about $400 million worth of Berkshire stock, which is probably now worth $400 billion. But I've made lots of dumb decisions. That's part of the game.
Life at a public company ain't for me. The board pays you what you're worth, then you get reamed for your compensation.
If the only common thread you have as an industrial company is the fact that you think you're well managed, you can still be a pretty good company, but you're not going to be a dominant company, a competitive company over time.
If a thing is worth doing, it is worth doing well. If it is worth having, it is worth waiting for. If it is worth attaining, it is worth fighting for. If it is worth experiencing, it is worth putting aside time for.
If it's worth feeling bad about, it's worthy of amnesia.
Essentially, you have to be aware of a crisis happening: 'Can the company go on if I get hit by a bus?' That's, I think, how you build a great company and something that can scale.
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