Category Archives: Leadership

Steve Jobs on Hiring

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Apple’s founder and CEO Steve Jobs on hiring:

“It seems like all the good people I really want to hire, it takes me a year to hire them. It’s always been that way, even at Apple.”

“I usually meet somebody that is really good. And you can’t get them. And then you go try to find other people. And nobody measures up.”

“When you meet somebody that good, you always compare them to this one person. And you know you’re going to be settling for second best if you compromise.”

“And I’ve always found it best not to compromise, and just keep chipping away.”

His VP of Marketing took a year and a half to hire.

“And they’re all worth it.”

Steve Jobs is a company founder and leader with scar tissue explaining what he

On hiring:

“It seems like all the good people I really want to hire, it takes me a year to hire them. It’s always been that way, even at Apple.”

“I usually meet somebody that is really good. And you can’t get them. And then you go try to find other people. And nobody measures up.”

“When you meet somebody that good, you always compare them to this one person. And you know you’re going to be settling for second best if you compromise.”

“And I’ve always found it best not to compromise, and just keep chipping away.”

His VP of Marketing took a year and a half to hire.

“And they’re all worth it.”

This talk is Steve Jobs at his most unfiltered. A founder with scar tissue explaining what he learned the hard way.

This MIT lecture will teach you more about building companies than every startup book you’ve read combined.

Steve Jobs’ 1992 MIT lecture will teach you more about building companies than every startup book you’ve read combined.

Steve Jobs What’s the Most Important Thing He Learned

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A MIT student asked Apple’s founder and CEO: Steve Jobs what’s the most important thing he learned at Apple that you’re doing at NeXT?

Jobs thought for a moment.

“I now take a longer-term view on people.”

“When I see something not being done right, my first reaction isn’t to go fix it. It’s to say, we’re building a team here. And we’re going to do great stuff for the next decade, not just the next year.”

“So what do I need to do to help so that the person that’s screwing up learns, versus how do I fix the problem?”

“And that’s painful sometimes. And I still have that first instinct to go fix the problem.”

“But taking a longer-term view on people is probably the biggest thing that’s changed.”

On not knowing your own competitive advantage:

“A lot of times you don’t know what your competitive advantage is when you launch a new product.”

“When we did the Macintosh, we never anticipated desktop publishing. Sounds funny, because that turned out to be the Mac’s compelling advantage.”

“We anticipated bitmap displays and laser printers. But we never thought about PageMaker, that whole industry really coming down to the desktop.”

“But we were smart enough to see it start to happen nine to twelve months later. And we changed our entire marketing and business strategy to focus on desktop publishing.”

“And it became the Trojan horse that eventually got the Mac into corporate America.”

The same thing happened at NeXT.

They built software to help developers create apps faster. Their target customers were Lotus, Adobe, WordPerfect.

Then big companies started showing up and saying: “You don’t understand what you’ve got. The same software that allows Lotus to create their apps faster is letting us build our in-house apps five to ten times faster.”

“And you dummies don’t even know it.”

Jobs admitted: “It took them about three months before we finally heard it.”

Steve Jobs On Competitive Advantage

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In 1992, Apple’s founder and CEO Steve Jobs talks to MIT students about competitive advantage:

“Hardware churns every 18 months. It’s pretty impossible to get a sustainable competitive advantage from hardware. If you’re lucky, you can make something one and a half or two times as good as your competitor. And it only lasts for six months.”

“But software seems to take a lot longer for people to catch up with.”

“I watched Microsoft take eight or nine years to catch up with the Mac, and it’s arguable whether they’ve even caught up.”

On technology windows:

“You can use the concept of technology windows opening and then eventually closing.”

“Enough technology from fairly diverse places comes together and makes something that’s a quantum leap forward possible. And a window opens up.”

“It usually takes around five years to create a commercial product that takes advantage of that technical window opening up.”

“And then it seems to take about another five years to really exploit it in the marketplace.”

He gave examples from his own life:

Apple II lasted 15 years. DOS lasted 15 years. Mac was eight years old at the time and would easily last another five.

“These things are hard. They don’t last because it’s convenient, or even because it’s economic. They last because this is hard stuff to do.”

Steve Jobs on Getting Fired from Apple

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In 1992, an MIT student asked Apple founder and CEO Steve Jobs the following question: where would Apple be if you hadn’t left?

Jobs paused.

“I’ve obviously thought about this a lot. I think everybody lost. I think I lost. I think Apple lost. I think customers lost.”

“And having said all that, so what? You go on. It’s not as bad as a lot of things. Not as bad as losing your arm.”

That’s Steve Jobs. Getting fired from the company he built, comparing it to losing a limb, and shrugging.

He spent the rest of the talk explaining what he learned about building companies.

Steve Jobs on Consulting

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“Consulting is like a picture of a banana. You might get a very accurate picture, but it’s only two dimensional. Without the experience of actually doing it, you never get three dimensional.” ~ Steve Jobs

Apple founder and CEO Steve Jobs walked into a room full of MIT MBA students and asked how many were going into consulting business.

Many hands went up.

He said their careers would be “like a picture of a banana.”

“You might get a very accurate picture. But you never really taste it.”

He spent the next 60 minutes explaining what actually builds careers:

“Without owning something over an extended period of time, where one has a chance to take responsibility for one’s recommendations, where one has to see one’s recommendations through all action stages and accumulate scar tissue for the mistakes and pick oneself up off the ground and dust oneself off, one learns a fraction of what one can.”

He continued:

“Coming in and making recommendations and not owning the results, not owning the implementation, I think is a fraction of the value and a fraction of the opportunity to learn and get better.”

“You do get a broad cut at companies, but it’s very thin.”

Then the line that made the room go silent:

“It’s like a picture of a banana. You might get a very accurate picture, but it’s only two dimensional. Without the experience of actually doing it, you never get three dimensional.”

“So you might have a lot of pictures on your walls. You can show it off to your friends. You can say, look, I’ve worked in bananas, I’ve worked in peaches, I’ve worked in grapes.”

“But you never really taste it.”

This was 1992. Jobs had been fired from Apple seven years earlier. He was running NeXT. He had scar tissue.

Nick Saban’s 3 Rules for Winning at Life!!!

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Nick Saban, one of the greatest college football coaches, who led Alabama to six national titles and LSU to one, has “3 Rules for Winning at Life”. His rules can be summarized as: lead with compassion, own your life, and compete with yourself.

1. Lead with kindness — It’s nice to be important, but it’s more important to be nice.
2. Own your life — No one’s coming to save you; discipline and drive are your greatest strengths.
3. Compete with yourself — Focus on becoming better than you were yesterday, not better than others.

Nick Saban’s “3 Rules for Winning at Life” are about character, ownership, and personal excellence. They can be summarized as: lead with compassion, own your life, and compete with yourself.

The 3 Rules in more detail:

1. Have compassion for other people

• Treat people the way you want to be treated, and remember “it’s nice to be important, but it’s more important to be nice.”
• Saban emphasizes being kind to people “on your way up” because you may meet them again “on the way down.”

2. Be responsible for your own self‑determination

• Do not blame others; take full accountability for your choices, discipline, and effort.
• In many retellings this shows up as “own your life—no one is coming to save you,” meaning your progress depends on your daily habits and standards.

3. Compete with yourself, not others

• Saban says it is “not about beating the other guy; it’s about you being the best that you can be” at whatever you choose to do.
• The focus is on raising your own standard every day—effort, attitude, and consistency—rather than chasing the scoreboard or comparing yourself to others.

How to Apply Them Daily

• Start each day with one intentional act of kindness: a respectful conversation, encouragement, or listening without interrupting.
• Pick one area of life (health, finances, relationships, spiritual practice) and write down a specific behavior you will own fully this week—no excuses.
• Set a simple “beat yesterday” metric: one more rep, five more minutes of study, one better food choice, or one more prospecting call, and track it for 7 days.

These habits keep you grounded, focused, and at peace, even when life gets tough. Start with one today and feel the difference.

Source: https://www.facebook.com/share/r/1H2EPv88DX/

10 Lessons to Learn from Jeff Bezos

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“You can be grinding for four years with no results and, in the 5th year, become the biggest thing on the planet. The power of not giving up is real.” ~ Jeff Bezos

Here are 10 Incredible Lessons from Jeff Bezos:

1. Customer Obsession: “Start with the customer and work your way backward.” Bezos emphasizes the importance of focusing on customer needs and satisfaction above all else. Amazon’s vision: “To be earth’s most customer-centric company.”

2. Long-term Thinking: Bezos encourages a long-term perspective, often at the expense of short-term gains. He believes that truly great businesses are built over decades rather than years.

3. Embrace Failure: Bezos recognizes that innovation and experimentation come with the risk of failure. He encourages taking calculated risks and learning from mistakes. Amazon has benefitted from this mindset, part of its DNA and culture.

4. High Standards: Bezos insists on maintaining high standards in all aspects of the business, from products and services to hiring and decision-making. He is known for banning PowerPoints and unnecessary meetings to force a high standard of work.

5. Innovate Continuously: Amazon’s success is built on a relentless innovation process. Bezos encourages constant innovation to stay ahead of the competition and meet evolving customer needs. Pushing for “same-day deliveries” is an example of this.

6. Invent and Simplify: Bezos advises his team to invent new solutions and simplify existing processes. This fosters a culture of continuous improvement and efficiency.

7. Frugality: Bezos believes in controlling costs and avoiding unnecessary expenses to maximize efficiency and maintain a lean business model. Large corporations become more efficient over time if they relentlessly focus on staying lean.

8. Think Big: Bezos encourages ambitious, audacious thinking. He believes that thinking small limits potential and that bold ideas can lead to groundbreaking success.

9. Build a Great Team: Surround yourself with talented, passionate individuals. Bezos emphasizes the importance of hiring and retaining top-tier talent. As an entrepreneur, you need to attract people smarter than yourself to work for you.

10. Stay Agile: In a rapidly changing world, Bezos advises businesses to remain flexible and adapt to new opportunities and challenges swiftly. Amazon AWS is the prime example. It was a bold bet that few thought would pay off. Today, AWS is on its way to $100 billion in sales.

Source: Invest In Assets | Stock Market Investing  https://x.com/InvestInAssets/status/1718559795907907679

China’s Challenges According to Jamie Dimon

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China’s Communist Party leaders believe that America is in decline. They believe this not only because their country’s sheer size will make them the largest economy on the planet by 2030 but also because they believe their long-term thinking and competent, consistent leadership have outshone America’s in so many ways, writes Jamie Dimon, CEO, JP Morgan in his 2020 annual letter to shareholders.

The Chinese see an America that is losing ground in technology, infrastructure and education – a nation torn and crippled by politics, as well as racial and income inequality – and a country unable to coordinate government policies (fiscal, monetary, industrial, regulatory) in any coherent way to accomplish national goals. Unfortunately, recently, there is a lot of truth to this, in the next 40 years, according to Dimon.

In recent years, China has been dealing with many challenges to its economic expansion, including pandemic-related curbs, an energy crunch, and an unprecedented crackdown on private enterprises. These challenges and the Communist government’s reaction led to 4% growth in China for the fourth quarter, according to JP Morgan.

Additionally, the government actions against COVID-19 have also kept domestic demand for goods and services suppressed, putting a lid on imports.

However, Dimon opines that “China will have to confront some serious socioeconomic and geopolitical issues”:

  • The Chinese lack enough food, water and energy to support their population;
  • Pollution is rampant;
  • Corruption continues to be a problem;
  • State-owned enterprises are often inefficient;
  • Corporate and government debt levels are growing rapidly;
  • Financial markets lack depth, transparency and adequate rule of law;
  • Income inequality is higher than in the rest of the world; and
  • Their working age population has been declining since 2012.
  • Capital outflows has caused the regime to tighten capital controls.
  • Lower rates make Chinese financial markets less attractive to global and domestic capital.

Additionally, China will continue to face pressure from the United States and other Western governments over human rights abuses (especially against the Uyghur population), democracy and freedom in Hong Kong, and activity in the South China Sea and Taiwan. The Uyghurs are an ethnic Muslim minority in China that have allegedly endured forced labor and other human rights violations.

Autocratic and authoritative leadership works well when you can manage top down and you are starting from a very low base. China’s recent success definitely has its leadership feeling confident.

Regardless of Chinese Communist Party’s opinions regarding its inevitable economic rise, only 100 million people of its more than 1.4 billion population in China effectively participate in the nation’s one-party political system. No other developed nation has such low participation. Growing middle classes almost always demand political power, which helps explain why autocratic leadership almost always falters in a larger, more complex economy.

Under autocratic leadership, a major risk is the allocation of economic assets (capital and people), which are, over time, used to further political interests, leading to inefficient companies and markets, favoritism and corruption.

In addition, autocratic leadership diminishes the rule of law and transparency – damaging the ability to create a well-functioning financial system (this certainly restricts the internationalizing of the RMB).

Disruption of trade is another risk China faces. The United States’ trade issues with China are substantial and real. They include:

  • Theft or forced transfer of intellectual property;
  • Lack of bilateral investment rights, transfer of ownership or control of investments;
  • Onerous non-tariff barriers;
  • Unfair subsidies or benefits for state-owned enterprises; and
  • Lack of rapid enforcement of any disagreements.

China will only comply with international trade agreements and only do what is in its own self-interest. Near term, we should expect challenge and conflict to characterize the relationship between China and the West over a range of economic, human rights and strategic issues.

There may, however, be areas where we will simply never agree. As the two largest economies in the world, China and the United States should continue to have a long-term interest in collaborating where we can on critical global issues, including climate change, global health and stability on the Korean Peninsula.

China does not have a straight road to becoming the dominant economic power. To put this in perspective, America’s GDP per person in 2019 was $65,000 and China’s was $10,000. Even if we do a rather poor job at managing our economy (growing at 2%), our GDP per person in 20 years would be $85,000. And if the Chinese do a good job managing their economy, their GDP per person in 2040 would still be under $35,000. While China is well on its way to becoming a fully developed nation, it may face more uncertainty and moments of slower growth in the future (like the rest of us) than in the past.

For the near term, if China and the United States can maintain a healthy strategic and economic relationship, it could greatly benefit both countries – as well as the rest of the world.

Another factor is the Chinese currency, the renminbi (RMB). The renminbi cannot be freely moved around the world; it can leave China only in limited amounts and can be invested only as the Chinese see fit. Thus the renminbi is a long way from replacing the U.S. dollar as the world’s reserve currency.

The Chinese currency is subject to their internal politics, laws and regulations. While the Chinese have done a good job building their economy and are slowly moving toward a more transparent society and financial system, they are a long way from having a currency that is fully “convertible” like the U.S. dollar.

References:

  1. https://reports.jpmorganchase.com/investor-relations/2020/ar-ceo-letters.htm
  2. https://www.wsj.com/articles/slow-meltdown-of-china-economy-evergrande-property-market-collapse-downturn-xi-cewc-11640032283
  3. https://www.msn.com/en-us/money/markets/could-chinas-economy-collapse/ar-AAPypxS
  4. https://warontherocks.com/2021/12/could-chinas-massive-public-debt-torpedo-the-global-economy/

Commercial real estate bust.

While the U.S. economy is likely to grow 6% in 2021 and 4% in 2022, the highest rate in decades, analysts project.

China’s economy has been faltering despite it’s exceptionally strong trade surplus and it’s authoritarian government’s heavy hand on COVID-19.

General Colin Powell’s 13 Rules

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General Colin Luther Powell (April 5, 1937 – October 18, 2021), the first African American Secretary of State, died at the age of 84. General Powell was a retired four-star Army general who served as National Security Advisor, Chairman of the Joint Chiefs of Staff, before becoming Secretary of State.

General Powell’s 13 Rules are listed below.  They are full of emotional intelligence and wisdom for any leader.

  1. It Ain’t as Bad as You Think!  It Will Look Better in the Morning.  Leaving the office at night with a winning attitude affects more than you alone; it conveys that attitude to your followers.
  2. Get Mad Then Get Over It.  Instead of letting anger destroy you, use it to make constructive change.
  3. Avoid Having Your Ego so Close to your Position that When Your Position Falls, Your Ego Goes With It.  Keep your ego in check, and know that you can lead from wherever you are.
  4. It Can be Done. Leaders make things happen.  If one approach doesn’t work, find another.
  5. Be Careful What You Choose. You May Get It.  Your team will have to live with your choices, so don’t rush.
  6. Don’t Let Adverse Facts Stand in the Way of a Good Decision. Superb leadership is often a matter of superb instinct. When faced with a tough decision, use the time available to gather information that will inform your instinct.
  7. You Can’t Make Someone Else’s Choices.  You Shouldn’t Let Someone Else Make Yours. While good leaders listen and consider all perspectives, they ultimately make their own decisions.  Accept your good decisions.  Learn from your mistakes.
  8. Check Small Things. Followers live in the world of small things.  Find ways to get visibility into that world.
  9. Share Credit.  People need recognition and a sense of worth as much as they need food and water.
  10. Remain calm.  Be kind.  Few people make sound or sustainable decisions in an atmosphere of chaos.  Establish a calm zone while maintaining a sense of urgency.
  11. Have a Vision. Be Demanding.  Followers need to know where their leaders are taking them and for what purpose.  To achieve the purpose, set demanding standards and make sure they are met.
  12. Don’t take counsel of your fears or naysayers.  Successful organizations are not built by cowards or cynics.
  13. Perpetual optimism is a force multiplier.  If you believe and have prepared your followers, your followers will believe.

General Colin Powell’s rules are short but powerful.  Use them as a reminder to manage your emotions, model the behavior you want from others, and lead your team through adversity.

References:

  1. https://executiveexcellence.com/13-rules-leadership-colin-powell/

Systemic Racism and Unconscious Bias in America

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“I look to a day when people will not be judged by the color of their skin, but by the content of their character.” Reverend Dr. Martin Luther King, Jr., “I have a dream speech”

Over the past centuries, Americans have permitted systemic racism and unconscious bias to affect how an entire race and class of people are mistreated – by the justice system, by the penal system, by the social welfare system, by the education system, by the financial system, and the list goes on – because of the color of their skin, stated Chamath Palihapitiya, founder and CEO of Social Capital. In no reasonable, moral worldview is this acceptable.

The salient point is that equality, for all Americans, is an essential pillar of the US democracy and its capitalist economy…not a discretionary feature that can be arbitrarily turned off and turned on based on the whim of public and private leaders.

Conversely, we, as a nation, can’t fix what we don’t acknowledge and we need to acknowledge that systemic racism and unconscious bias have happened and continues to happen, and begin the hard work of finding solutions.

One solution

“We can’t solve problems by using the same kind of thinking we used when we created them.” Albert Einstein

In the past eighteen months since George Floyd murder at the knee of law enforcement, many private sector companies are embracing their role in creating more equitable workplaces, addressing societal racial inequality and even donating to causes working to end racism. Robert F. Smith, Founder, CEO and Chairman of Vista Capital, argues that if we want to see lasting, meaningful change, the private sector’s efforts to address structural racism, we need the private sector to step up and deploy “permanent capital” — meaning investments and commitments that are scalable and focused on the long-term. 

Specifically, companies should designate 2% of their yearly earnings to closing racial opportunity gaps, diversifying their boards and pension managers, making higher education more affordable, and addressing disparities that they’re uniquely qualified to help solve.

For example, telecommunications companies have a “special responsibility to end connectivity deserts” where one in three Black households have no broadband internet or computer access, according to Smith.

Health care companies can work to address racial health inequities, and software companies can make affordable tools to help Black sole proprietors and small business owners better handle payroll and customer acquisition. 

“It is all too easy to let the urgency of a moment fade away with little to show for it,” Smith said. “Let’s meet this moment. We have the tools, the technologies and the access to capital to do it. All we need is the willpower to see this through.” 

References:

  1. https://www.socialcapital.com/annual-letters/2020
  2. https://www.washingtonpost.com/opinions/2020/07/15/how-companies-can-make-practical-commitments-achieve-economic-justice/