Wisdom in fragments

Well credit, as you say, makes the world go around, but we want the right amount of credit. Too little credit and the economy can't grow, too much credit and the economy becomes unstable and we have the great financial crisis. So we need to find that proper Goldilocks point in the middle.

Complexity scientist & founding director of Santa Fe Institute's Complexity Economics program

My observation is if we make a parallel between biology and economics, the role of the economy is like the role of metabolism in an organism. Because what does the metabolism do? It takes in food, resources from the environment, and breaks them down and rearranges them to make other things that we need. Similarly, the economy takes in natural resources from the environment, combines them with labour to make goods and services that we use.

Complexity scientist & founding director of Santa Fe Institute's Complexity Economics program

The standard models were formulated through a process that started well before computers were in place, and I would say it's undergone a certain lock-in. Once you start going down that path, it's hard to break out of it to another path. As a result, economics is stuck. It's not even that the existing models are wrong, they're just very limited in what they can do, and mainstream economists have gotten very locked in to using those models – and only those models.

Complexity scientist & founding director of Santa Fe Institute's Complexity Economics program

A complex system is one where the properties of the building blocks, when they interact, can create phenomena that are very different from the building blocks themselves. The human brain is a great example. You take a neuron, which is a cell – you put an electrochemical signal in, electrochemical signal comes out – but somehow you hook 80 billion of them together and you get a brain. You have to hook them together just right, of course, but the result is completely fundamentally different than what you started with.

Complexity scientist & founding director of Santa Fe Institute's Complexity Economics program

If you make everything you do data driven, it's an inherent limitation on experimentation. Most PLCs are so driven by the finance department that they've lost the capacity to get lucky.

Vice Chairman of Ogilvy & advertising strategist and behavioral economist

If you benchmark on everything, you simply become more similar to your competitors and move into a red ocean space which is highly, highly, brutally competitive. There's only room for one, maybe two at most, cost-cutting businesses.

Vice Chairman of Ogilvy & advertising strategist and behavioral economist

The miracle of capitalism is that if you have a central government trying to solve something, it will come up with one averagely optimal solution for everybody. And capitalism will come up with 10 different solutions to the same problem.

Vice Chairman of Ogilvy & advertising strategist and behavioral economist

The average is the enemy of the marketer, because it actually disguises what you really need to know, which is the outliers, the unusual use cases, the anecdotal eccentricity, where most of the really valuable information lies.

Vice Chairman of Ogilvy & advertising strategist and behavioral economist

A fantastic business stumbles onto something psychological which just gives it a fantastic edge. Netflix's killer psychological hack was 'have 3 DVDs at any one time, watch them as often as you want, change them out as often as you want, £19.95 a month. No late fees ever.' That turned into a business worth billions.

Vice Chairman of Ogilvy & advertising strategist and behavioral economist

The problem with market research is that people don't think what they feel, don't say what they think, and don't do what they say.

Vice Chairman of Ogilvy & advertising strategist and behavioral economist

Legendary artists are not one hit wonders. They have staying power, they've been there for years, decades, generations. Like Beyoncé. After we recorded 'If I Were A Boy', she sat down on the couch with me and was extremely loving, nice, and wanted to know about my family and how I feel about things.

Grammy-nominated music producer and songwriter behind major pop hits

For me, that's the foundation of songwriting: improvisation. In improvisation on instruments, I feel creation is going a new path with every note, somewhere you haven't been before. You discover things, you're the adventurer in music.

Grammy-nominated music producer and songwriter behind major pop hits

Music is definitely a form of communication, and it gives me a good feeling. If I'm hungry and sit at the piano to play, I'm not hungry anymore. I'll forget everything when I make music. I think when we listen to music, it allows us to feel things.

Grammy-nominated music producer and songwriter behind major pop hits

Whenever I write a new song with somebody, it feels like the first time. I sometimes feel embarrassed, humiliated, like I don't know what I'm doing until we find a spark. You have to dare to go to this place where, even though you've done it before, it feels like you don't know what you're looking for until you find it.

Grammy-nominated music producer and songwriter behind major pop hits

To me, writing a song is like a ball game. You bounce the ball back and forth until someone doesn't want to play anymore. When you make music, you want to make someone feel something. So if you write in collaboration, you can have a good reality check if you can make each other feel something with every new word, every new melody.

Grammy-nominated music producer and songwriter behind major pop hits

I usually start at the end. When you listen to a song for the first time, if there's something you remember from it the next day, that's where I can start writing the song. Whatever the takeaway is, that's the starting point for me.

Grammy-nominated music producer and songwriter behind major pop hits