From 600+ conversations with the world’s leading thinkers.
On one hand, competitive high-pressure jobs lead executives into many situations that can induce worry and fear (anxiety), hopelessness and despair (depression), and urgency (stress). On the other hand, some people are drawn to high pressure jobs by their adventurous personalities, their ability to tolerate risk, and their motivation for achievement.
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.
The skills that get them to one point won't carry them the rest of the way. We talk about the ticking time bomb. The ticking time bomb is these very characteristics — when you're trying to scale, and things are getting more complex, and you have to work through other people — they blow up.
Many founders delay implementing governance structures and view governance as a burden rather than an opportunity. Our key message here is that governance is not just important; it's crucial.
For me, it's about the power of storytelling. Everything we do is rooted in story. People resonate with stories. I can't tell you how many times I've sat with some of the most famous or richest people in the world, and when you share a story, you can see them reflecting on their own families, their own experiences.
The truth is that we live in a very unethical society. We don't teach ethics at home, schools or university. As a consequence most businesses don't have a code of ethics or conduct.
Africa is an enormous continent, larger than the US, China and Europe combined. It represents 20% of the global land mass, and only 10% of the world's population. It offers an un-crowded space of opportunities including minerals, natural resources, water and agriculture.
I have not been an urban investor in re-gentrification, which tries to change the character of a community and, candidly, is very speculative. Instead I look at revitalisation, which constitutes investing in existing densely populated and ethnically diverse communities and delivering the goods and services that are sought after but not provided.
You need to hire people who are smart, ideally smarter than you. There's a reason Google, Apple and their peers are filled with PhD's. The smarter your team (whether academically, or in experience) the more they will deliver.
I would not have believed anyone if they had told me that within eighteen months I would have lost 99 per cent of my $4 billion fortune and would be pursued almost to the brink of bankruptcy by seven major banks… I would have found it impossible to contemplate that I would be treated like a pariah in my home country, saddled with $1 billion in debts and hated as a man who had supposedly almost single-handedly brought down an economy. But that is exactly what happened…
Simply put, a great business will understand its customers, have a clear, sound strategy and a business plan that can deliver against it. In order to do this it is very important to have a management team who can execute that plan.
In business, you get incredible highs and lows… and it can take a decade of work before you start to see the story, and so having peer networks around you helps you realise other people have been through this.