"Bill Gates came to see me with a six pack of beer and a pizza when negotiating a contract. He told me one time he said, John, forget about hardware. There's no piece of hardware that can't be emulated in software. And damn, I failed to listen to it."
Sun Valley:
"After hearing Gates describe his new company, sitting with Warren Buffett and having him ask: 'would you invest in that?' And I said, Hell, I don't know. Warren, I don't see the moat. It's probably pretty good. But isn't he gonna have a hell of a lot of competitors?"
"After hearing Gates describe his new company, sitting with Warren Buffett and having him ask: 'would you invest in that?' And I said, Hell, I don't know. Warren, I don't see the moat. It's probably pretty good. But isn't he gonna have a hell of a lot of competitors?"
"You think in terms of mathematical models and try to come up with heuristics that simplify and make it easier to make decisions.
At TCI we were trying to delegate M&A. We tried to make it very simple. If you can fill in these four blanks, you can go ahead and close the deal."
At TCI we were trying to delegate M&A. We tried to make it very simple. If you can fill in these four blanks, you can go ahead and close the deal."
"My dad always said:
First, whatever the problem is, try and guess at the answer. Try and develop your instinct.
Then use the techniques they teach you in school.
Over time you will train your intuition and probably guess the answer better than the technical method."
First, whatever the problem is, try and guess at the answer. Try and develop your instinct.
Then use the techniques they teach you in school.
Over time you will train your intuition and probably guess the answer better than the technical method."
"The skills of being a good acquire: putting yourself into the shoes of the other guy.
It may be he's looking for a job for his idiot son-in-law. Maybe he's got tax issues or a divorce problem.
You try to take a holistic view when you look at optimizing bids."
It may be he's looking for a job for his idiot son-in-law. Maybe he's got tax issues or a divorce problem.
You try to take a holistic view when you look at optimizing bids."
"It's about problem solving, optimizing businesses, optimizing business structure.
You set the objective. The objective is maximizing shareholder wealth in a reasonable timeframe.
And then you set about to look at what dials you have, what puts you in that direction."
You set the objective. The objective is maximizing shareholder wealth in a reasonable timeframe.
And then you set about to look at what dials you have, what puts you in that direction."
"My conservatism's probably run afoul of the opportunities that the business I was in presented.
In other words, the blue skies were much brighter than I ever really imagined or was comfortable with."
In other words, the blue skies were much brighter than I ever really imagined or was comfortable with."
"My mathematics can be limited vision - a world where I can use leverage and tax deferral and growing cash flow in order to create value."
"You think you have a pretty good vision of where this is going, and you don't have a clue. It just gets so much bigger and so much broader than you could have imagined.
Then you got to try and catch up and see if you can figure out what your grandkids are talking about."
Then you got to try and catch up and see if you can figure out what your grandkids are talking about."
At ~50 talks about inflation worries. Investing in land, timber, equities in Switzerland, Korea, Canada.
Not investing in $BTC "extremely volatile." "I praise friends who bought Bitcoin and allow them to buy dinner."
"I'm conservative. Go long Comcast and sell a call"
Not investing in $BTC "extremely volatile." "I praise friends who bought Bitcoin and allow them to buy dinner."
"I'm conservative. Go long Comcast and sell a call"
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