From 600+ conversations with the world’s leading thinkers.
All you've got to do is- to their face- call yourself every name that they are harbouring about you, it's that simple; it means you're demonstrating understanding. The thing is, it may sound easy- but it's hard to do- but if you can do it- it can unlock a situation in a heartbeat.
I define culture is three primary parts. The first part is behaviour. It's the behaviours of your employees that get embedded into all the processes we are already doing. The second part is processes. Think of the interview process – hiring, onboarding, recognition, promotion, feedback. All of those should have the behaviours integrated in them, ideally. The last piece is practices. These are kind of the daily, more informal ways that that we interact and connect – how we meet, how we communicate, how we make decisions and even how we learn.
I think Apple is preposterously undervalued. Apple has this mind-boggling margin structure, phenomenal consumer brand, and is accumulating mountains of cash. I joked on television that they should lever up and buy Greece! They have something like 7x cash-flow.
If you look at the notional value of trading on our exchanges in any given year, they range from $600-700 trillion to a quadrillion dollars in total value. People can use these markets very effectively, not just for bona-fide risk hedging and transfer and risk management but also for asset allocation, portfolio management and trading strategies as well.
Most of the venture backed businesses, and venture capital firms, are a mirror-tocracy not a meritocracy! Senior executives are disproportionately drawn from a narrow stratum of society – in the US, this means Ivy-League Schools such as Stanford. They tend to be overwhelmingly white (and increasingly now Asian) but certainly overwhelmingly male.
Looking at the bond market to provide you protection from inflation is a fools game. If you are really worried about inflation- you have to buy stocks.
For the people I documented, money was secondary… They knew absolutely they would make money, but changing the world and doing cool stuff was the primary goal; that was their mission.
A crucial realization for me is that the management styles of the West and East are not mutually exclusive. In fact, blending the best elements of each can be highly effective. Western management, particularly in Silicon Valley, is often seen as a triumph of capitalism, primarily focused on maximizing shareholder value. Contrastingly, my experience with NTT revealed a different approach, one that prioritizes stakeholders, sometimes even more than shareholders.
As I said earlier, the only source of value in our business is the consumer's desire for the product. That desire is built on emotions ascribed to diamonds, and if they believe the way that diamond has been brought to their finger does anything other than live up to the values they ascribe to it, we would have a major problem.
organisations will often behave in international economic theatres (such as China) with the same operational processes and assumptions as their 'home' environments (such as Australia) with the assumed protection of the legal, political and other systems of their 'home' environments.
So when the economy's booming, banks are going to need 9.5% common equity, 11% Tier 1 capital, and 13% Tier 2 capital.
At Colossal, we are not going to work in humans or non-human primates because we felt like we're already going to have an uphill battle with transparency and education, and we don't want people to be like, if a hair-loss treatment comes out of Colossal, 'are they selling a gene from a woolly mammoth?'