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Al Jazeera is a representation of, you know, diversity in the Arab world. In our newsroom, we have every single nationality, we have every single, you know, ideology, we have every single background. However, when it comes to the screen, we have one code of ethics and one code of conduct.
Rationality is not just something you do so that you can make more money, it is a binding principle. Rationality is a really good idea. You must avoid the nonsense that is conventional in one's own time. It requires developing systems of thought that improve your batting average over time.
School boards are, for the most part,made up of political wannabes who see a board seat as a stepping stone for political office, or well-meaning parents who represent an ethnic group or geography, or have some other narrow interests. Few people on them understand what governance is about.
When I talk football with my friends, I don't talk about Tom Brady's hair. I talk about how he handles the blitz, or how he runs his offense. I talk as a fan. I don't want pink jerseys, and I don't want dumbed-down content. I want to be treated as a real fan - because I am proud to be one.
Do not rush into a business just because you have the capital. You'd lose your shirt if you jump into it recklessly. Do your homework first. Study the market and look for that golden opportunity. Whatever business you choose to go into, it must be something that you can pursue with passion.
Unions have been the best anti-poverty program that actually worked and did not cost the government a dime. But as unions grow smaller- not stronger- our ability to act as an economic mechanism to distribute the gains of our work and raise all workers' wages and benefits up is disappearing.
School boards are, for the most part ,made up of political wannabes who see a board seat as a stepping stone for political office, or well-meaning parents who represent an ethnic group or geography, or have some other narrow interests. Few people on them understand what governance is about.
In America, we have a two-party system, and the American Constitution is a piece of brilliance, but they did not know when they set it up we would just have a two-party system. It just so happens that our electorate pushed towards the two-party system because it's a very good way to govern.
You know, I love all kinds of activism. I certainly think blacks deserve to have something whether it is affirmative action or an opportunity that should be opened up to them. But at the same time I believe that people of color are not the only poor people in America and all over the world.
You have got the right strategy, the right geography; you have got the right customers. You need to prioritise them better; we need to grow them better, mind them better. We need to give more value to them, and we need to execute a lot of areas in the organisation where we are not executing.
Of course the self-serving bias is something you want to get out of yourself. Thinking that what's good for you is good for the wider civilization and rationalizing all these ridiculous conclusions based on this subconscious tendency to serve one's self is a terribly inaccurate way to think.
We got a lot of excellent people and businesses from Bear and WaMu. But Bear definitely was more painful. WaMu got us into Florida, California, and other states, which was a huge benefit - to expand and grow and add middle-market, private banking, investment banking, and other products, too.
If a British guy saw someone at the wheel of a Rolls- Royce, he'd say 'come the revolution and we'll take that away from you, mate', where the American would say 'one day I'll have one of those, when I have worked hard enough'. It's unfortunate we Australians inherited the British mentality.
Microwork gives marginalized people a chance to earn a living by playing a vital role in the business processes of big companies. In parallel, the organization assists local entrepreneurs in running microwork centers, helping to grow a new pool of business talent across the developing world.
Our established businesses of hydrocarbons, energy, and petrochemicals pretty much run on their own, with their own proven leaders. This has helped me focus almost exclusively on two things: Firstly, new businesses. And secondly, institutionalising what I call the Reliance Management System.
When you run a part of the relay and pass on the baton, there is no sense of unfinished business in your mind. There is just the sense of having done your part to the best of your ability. That is it. The hope is to pass on the baton to somebody who will run faster and run a better marathon.
I wasn't weaned on the web nor coddled on a computer. Instead, I grew up in a highly centralized world where news and information were tightly controlled by a few editors, who deemed to tell us what we could and should know. My two young daughters, on the other hand, will be digital natives.
I think you'll make more money in the end with good ethics than bad. Even though there are some people who do very well, like Marc Rich-who plainly has never had any decent ethics, or seldom anyway. But in the end, Warren Buffett has done better than Marc Rich-in money-not just in reputation.
I think people who multitask pay a huge price. They think they're being extra productive, and I think when you multitask so much you don't have time to think about anything deeply, you are giving the world an advantage you shouldn't do, and practically everybody is drifting into that mistake.
I think, my own personal view is there should be higher and higher levels of autonomy; government should not interfere in setting up colleges, in running colleges. The market, the society will decide which is a good university, which is not a good university, rather than government mandating.
It's hard to predict what will happen with two brands in a market. Sometimes they will behave in a gentlemanly way, and sometimes they'll pound each other. I know of no way to predict whether they'll compete moderately or to the death. If you could figure it out, you could make a lot of money.
We don't have an isolated group [of senior managers] surrounded by servants. Berkshire's headquarters is a tiny little suite. We just came back from Berkshire's board meeting; it had moved up to the board room of the Kiewit company and [it was so large and luxurious that] I felt uncomfortable.
Here's one truth that perhaps your typical investment counselor would disagree with: if you're comfortably rich and someone else is getting richer faster than you by, for example, investing in risky stocks, so what?! Someone will always be getting richer faster than you. This is not a tragedy.
And if you're going to be a leader, you know what I ask myself? Would I want to work for you in this job? Would I let my children work for you? Would I give you this job if I wasn't there to provide oversight? If you went to run another company, would I, as an investor, invest in that company?
The core concept of Samasource is essentially that technology helps us unlock human talent wherever it may happen to reside. That we should no longer be victims of the birth lottery. That no one should be stuck in a poor place where they don't have a job simply because of an accident of birth.
I always make the business case for sustainability. It's so compelling. Our costs are down, not up. Our products are the best they have ever been. Our people are motivated by a shared higher purpose - esprit de corps to die for. And the goodwill in the marketplace - it's just been astonishing.
Some of our businesses use more energy than others, but our strategy everywhere is the same... first, reduce our use of energy as much as possible. Then, switch to renewable sources of power where it makes economic sense... And, over time, as a last resort, offset the emissions we can't avoid.
The CNN international is a different service - it is even more leftist and anti-American than CNN is. That's their business, that's fine, but it can't be getting any revenue. There is no cable network that I know of anywhere in the world other than in America that pays them for their products.
We are not a TV station that only concentrate on those who are always under light. We are not a TV station for celebrities and for grand politicians and superstars. We are a TV station for the ordinary person. The normal people, ordinary people in the Arab world sees Al Jazeera as their voice.
One metric catches people. We prefer businesses that drown in cash. An example of a different business is construction equipment. You work hard all year and there is your profit sitting in the yard. We avoid businesses like that. We prefer those that can write us a check at the end of the year.
Most people early achieve and later intensify a tendency to process new and disconfirming information so that any original conclusion remains intact. They become people of whom Philip Wylie observed: "You couldn't 't squeeze a dime between what they already know and what they will never learn."
Frankly, I'm not sure how far I would get if I attended public school today. It's not just that public schools aren't producing the results we want - it's that we're not giving them what they need to help students achieve at high levels. K-12 education in the United States is deeply antiquated.
I hear my own daughters talking about big companies polluting the environment, and then I realise they are talking about companies of which one I am running. But when I tell them to read the things we are doing, then they realise we are doing good things. But millennials are really a great lot.
I think people are hungry for new ideas and leadership in the world of poverty alleviation. Most development programs are started and led by people with Ph.Ds in economics or policy. Samasource is part of a cadre of younger organizations headed by entrepreneurs from non-traditional backgrounds.
News Corporation, today, reaches people at home and at work... when they're thinking... when they're laughing... and when they are making choices that have enormous impact. The unique potential - and duty - of a media company are to help its audiences connect to the issues that define our time.
As an immigrant, I chose to live in America because it is one of the freest and most vibrant nations in the world. And as an immigrant, I feel an obligation to speak up for immigration policies that will keep America the most economically robust, creative and freedom-loving nation in the world.
I think the idea that the hedge fund manager gets lower taxes than the taxi driver or the physics professor is insane. The legislators who leave that policy in place are derelict in their duties to be rational and fair. There are plenty of them in both political parties. It's totally outrageous.
In 1994, when I came to PepsiCo, there were really three businesses. They were soft drinks, which included both bottling and the concentrate company. There were salted snacks - Frito Lay. And restaurants where we had, we all talk of them, Pizza Hut, KFC and a whole bunch of casual dining chains.
You've seen certain credit type products that are going to be in nonbanks, like sophisticated CLO [collateralized loan obligation] tranches and stuff where the capital charge is so high that a bank simply will not own it. Someone will buy it, hedge it, trade it. But it won't typically be a bank.
Climate change is one of those stories that deserves more attention, that we all talk about, but we haven't figured out how to engage the audience in that story in a meaningful way. When we do do those stories, there does tend to be a tremendous amount of lack of interest on the audience's part.
People ask me, how is managing in the New Economy different from managing in the Old Economy? Actually, it's a lot the same. It's about the financial discipline of the bottom line, understanding your customers, segmenting your customers by their needs, and building a world-class management team.
I think I will always have a connection to young people, to try to bring their voices to the polls, bring their voices wherever they can make a difference. Even to protect their own interests or the interests of the planet or the animals or other individuals, which is critical. I try to keep it.
A few public hangings will really change behavior. One of our Presidents said if he could execute three people each year for no cause, it would make it a lot easier to govern. When someone said that's not enough, he said, "Oh yes it is, because I'd publish the list of people under consideration."
Lots are written about how 'she shows up at board meetings in the saree.' My God, I have never worn a saree to board meetings; people play it out in different ways. I think I have never shied away from the fact that I am an Indian, and I don't intend to, but you can be at home with both cultures.
When it comes to women, there has been a tendency to define women in sports in the context of their relationships - they watch games because their husbands watch. They're interested because their kids play a sport. They buy tickets to a sporting event because it's a way to spend time with family.
JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously its a tough economy. We support an oversight committee, we supported some of the compensation, new compensation rules, though we already follow most of them. We support a lot of it.
When you leave people behind, and those people who are left behind, it's not their fault, it's the leaders of the institutions. There's always going to be an elite. You can have an elite in a communist society. It is the leaders, something went wrong, and the leaders collectively are responsible.
Although I am very interested in the subject of human misjudgment - and lord knows I've created a good bit of it - I don't think I've created my full statistical share, and I think that one of the reasons was I tried to do something about this terrible ignorance I left the Harvard Law School with.
Companies the size of PepsiCo is like running a little republic, there is no question about it. The only difference is that I don't have to worry about the media hounding me every day, on every word that I say. I have a board of directors that runs the country in the interest of the stake holders.
JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously it's a tough economy. We support an oversight committee, we supported some of the compensation, new compensation rules, though we already follow most of them. We support a lot of it.