From 600+ conversations with the world’s leading thinkers.
One of the challenges in networking is everybody thinks it's making cold calls to strangers. Actually, it's the people who already have strong trust relationships with you, who know you're dedicated, smart, a team player, who can help you.
The conversation I want us to have is, 'This could be any one of us.' Frequently, when we point out 'them', we're referring to the corporate, narcissistic, aggressive, high-achievers, often the deliberate culprits. Their stories pervade our movies and crime podcasts, enabling us to distance ourselves because we can't necessarily identify with their actions.
Even when I was 16, if you had asked me what I wanted most in the world – I would have said, '…to be able to do shows, and have people watch them.' Realistically, for my level of ability, talent and work-ethic, we expected about 200 people a night to come and see us.
Asia region countries are able to shave not just 10% off process-costs versus their western counterparts, but often 60-80%, often bringing great improvements and advantages in the process. This ensures they are more agile and able to sustain competitive advantage through continual innovation.
There simply isn't enough creativity and bandwidth at the top to deal with the level of complexity and change in today's world. In bureaucratic structures, a small group of leaders can hold the organization's capacity to change hostage to their own personal willingness to adapt.
It is the difference between an investor asking, 'so, what's your product…' and 'so, what's your idea, and what steps can we take to turn that into a product.'
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.
Your corporate's social responsibility is to win. You cannot be generous from an empty wagon! This nonsense about giving when you're broke is ridiculous. Corporate responsibility, first and foremost, is to win. You can then take those resources from winning and allocate them as you see fit. That's not a popular statement, but it's the truth!
Global investors were awash in cash due to current account surpluses in emerging economies and easy monetary policies. Investors from emerging economies first invested their rapidly rising wealth in risk-free Treasuries, but once they had their fill of Treasuries they looked for higher yield in what they thought was the next safest thing, U.S. residential mortgages. Due to shrinking returns on less risky investments, other global investors began to search for yield by taking more risk investing in more complicated securities and derivatives.
Academics, research analysts, and even regulatory agencies have recognized that today's markets are more liquid and less expensive than before the advent of HFT. This is no doubt due in part to the improvement in liquidity provisioning that has arisen from the better risk management that computers provide over human traders.
He was a powerful figure who amassed considerable wealth for a select few—if they were fortunate and early enough in his scheme. Despite the exorbitant returns that should have raised eyebrows, those benefitting often turned a blind eye, choosing not to question the source of their profits. Yes, there were individuals who asked probing questions, but Madoff had crafted such an aura of invulnerability around himself that any questioning was met with swift exclusion from his investment circle. He was effectively untouchable.
You must surround yourself with great people, and as you grow, never forget the generosity gene. You must demonstrate that gene with encouragement, praise, recognition, and cash... Building a great team is what this business game is all about. The team with the best players working together wins.