From 600+ conversations with the world’s leading thinkers.
Having a fiduciary duty implies an undivided loyalty to corporate interests, arguing that it's impossible to hold a fiduciary duty towards stakeholders since they are considered natural adversaries. Thus, according to the law, stakeholders are viewed as opponents.
The traditional sources of capital for ideas — investment, charity, rich relatives, grants — are nowhere near sufficient to the number of good ideas in the world.
Telecommunications has not only connected India, but it has also given India global recognition and a new respect for Indian talent. It has created our own multinationals, and created a huge amount of foreign exchange reserves.
The biggest mistake is thinking that some people at the top make strategy, while everybody else executes it. It feels intractable at this point, it's so ingrained in our way of thinking. People at the top don't make all the decisions; it's not the case that people at the top make a strategy decision and then everyone just engages in that exact model.
75% of people won't purchase from a brand they don't inherently trust.
I personally think that it's only the ignorant and populism pandering politicians who treat the hedge fund industry as a scapegoat for the financial crisis. It was the extremely heavily regulated investment banks who, risking their shareholders' money, levered their firms up to 40:1!
To rephrase John F. Kennedy, we are choosing to go to the Moon, not because it's easy, but because it's a great business!
Interestingly, during my observation year at Eton, I asked a staff member if they ever intended to expand the institution. Their perplexed reaction was intriguing. They asked me, 'Why would we want to grow?' The question made me realize that once growth ceases to be the primary objective, it allows the spotlight to shift towards aspects like sustainability, longevity, nurturing a strong culture, and attracting top-notch talent.
I felt strongly that search- as a product- was just going to continue to face more and more revenue pressure, forcing us to show more and more ads, and inevitably making the product worse over time.
In a bit of a unique proposition, this exchange was created before the ecosystem existed. When you look at the growth and development of WTI, you have Houston which has production, New York which provides financing, the refineries on the Gulf Coast, the traders, marketers, banks and many other pieces of the puzzle which are already there. The DME was a bit of a unique experiment, we created an exchange before all parts of the ecosystem were in place.
I just hope that those who become influencers make smart choices; it's the kind of attention that comes quickly and is very hard to maintain. The top 10 YouTubers 10 years ago are not the top 10 YouTubers now. There are a few people that remain, and who have maintained longevity, but for the most part, influencer culture is extremely short lived.
A brand is really an emotional connection you have with a product or service. It's so emotional in fact that you become fairly irrational in the way you try to justify why you're using it. If you split our brain into a rational and irrational side…. a brand is what is operating at the irrational side.