“Anytime we have new forms of communication it changes behavior whether it is political or business or any type of behavior.”
— Bill Gates Primary source“I find it quite useful to think of a free market economy—partly free market economy—as sort of the equivalent of an ecosystem. Just as animals flourish in niches, people who specialize in some narrow niche can do very well.”
— Charlie Munger Primary source“At Harvard Business School, the great quantitative thing that bonds the first-year class together is what they call decision tree theory. All they do is take high school algebra and apply it to real-life problems. And the students love it. They’re amazed to find that high school algebra works in life.”
— Charlie Munger Primary source“Just as animals flourish in niches, people who specialize in the business world—and get very good because they specialize—frequently find good economics that they wouldn’t get any other way.”
— Charlie Munger Primary source“The old saying has it that when we promote our best salesman and make him a manager, we ruin a good salesman and get a bad manager. But if we think about it, we see we have no choice but to promote the good salesman. Should our worst salesman get the job? When we promote our best, we are saying to our subordinates that performance is what counts.”
— Andrew S. Grove Primary source“You don’t need to take the last dollar.”
— Charlie Munger Primary source“You ought to dream. All our biggest business men have been dreamers.”
— Ernest Hemingway Primary source“In business we often find that the winning system goes almost ridiculously far in maximizing and/or minimizing one or a few variables—like the discount warehourses of Costco.”
— Charlie Munger Primary source“Choose clients as you would friends.”
— Charlie Munger Primary source“Drive thy business, or it will drive thee.”
— Benjamin Franklin Primary source“In technology, whatever can be done will be done.”
— Andrew S. Grove Primary sourceMoney Clients Niche Dreams Proactivity