From 600+ conversations with the world’s leading thinkers.
To use an analogy, when you squeeze toothpaste out of a tube, it's quite hard to get it back in. By the same token, by the time you see inflation, it's too late. The key is inflation expectations.
Out of the 1,800 companies we measured, 250 created more environmental damage a year than profit. 600 created environmental damage of 25% or more of their profits. Together, the 1,800 businesses we researched created over $3 trillion of environmental damage in a single year.
I'm particularly obsessed by communications; and if you are committed to doing charitable things, and- of course- have your primary duty to ensure money is spent well and makes a difference – I think you may also have the duty to make sure that you try to affect the general attitudes people have towards the issues too.
You don't have to choose a business that's going to drown you, be a treadmill, or suck you underneath. You can start slow, make a bit of money and then double down. You don't have to risk it all at the beginning.
Good attention is very valuable. In 2017 unlike 2007 when I was yelling about this stuff, people now understand that personal brands are leverage. When you have people's attention, and especially if they think you have value, you can do amazing things.
If those assets are not being productively converted into goods and services that make the world a better place, it's a missed opportunity. Over the past half-century, we've standardised on a 'way' to do things – and that's clearly flawed but continues. We need managers and leaders to up their game if we're going to hope to tackle the environmental, inequality and other crises we face.
27 years ago, when I started in UFC, I knew it was going to be one of the biggest things in sports- honestly. All the excitement we used to get from watching those movies we can now watch in reality. UFC really captures you… it captures hearts and minds.
We should not assume that there is one single benchmark for all types of financial transactions. There are certain transactions that should be based on market rates, and others which call for the kind of benchmark that LIBOR provides.
People get stuck in the plan… the program… what they need to pack for the journey… my view? Just get in the goddam car and get driving. Things will go wrong… plans may go half-cocked… you're not an idiot, you're not going to burn money… just be smart and get driving.
I define disruption as being where the incumbent players and incumbents somehow deny what their customers are saying or want differently. A disruptor comes in, sees a problem more clearly, and in some cases has more freedom to attack the problem.
We have open and transparent pricing through our futures exchange- that means price is determined by buyers and sellers and not an 'official' selling price set by a producer.
I think the silver lining of this pandemic in the last couple of years is we have realised that culture is not relegated to an office, it's agnostic of a physical office. It is how we work with each other. We have gotten a little lazy by thinking it is all these fun and games.