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I've always been amazed by Da Vinci, because he worked out science on his own. He would work by drawing things and writing down his ideas. Of course, he designed all sorts of flying machines way before you could actually build something like that.
I'm not big on to-do lists. Instead, I use e-mail and desktop folders and my online calendar. So when I walk up to my desk, I can focus on the e-mails I've flagged and check the folders that are monitoring particular projects and particular blogs.
Apple has always leveraged technologies that the PC industry has driven to critical mass - the bus structures, the graphics cards, the peripherals, the connection networks, things like that - so they're kind of in the PC ecosystem and kind of not.
In my teens I was interested in photography. Then I decided that I should learn something about the world of commerce. And I came to America at age 17 to escape Europe. I went to NYU - nothing better than being 17 years old and coming to New York.
So many people operate in a world of right and wrong [that] they become polarized. You're conservative or you're liberal; and if you're one or the other, you can't be both. I just think that this idea of right and wrong is kind of a damaging idea.
Texans don't bury their failures. They get inspired by them. They take their failures and turn them into rallying cries. Failure inspires Texans to become winners. But that formula is not just the formula for Texans. It is formula for all winners.
The answer is simple, and harsh. The market did not reward saving the lives of these children, and governments did not subsidize it. So the children died because their mothers and their fathers had no power in the market and no voice in the system.
There I was - 20 years old, living in Ireland, and I'd never heard the word 'venture capitalist.' But I'd said that I wanted a job that involved a lot of negotiation, a lot of yelling at people on the phone, and for it to be high-risk, high-reward.
The objective of our religious foundations is to teach people that they are hurting themselves when they say they believe something. What we should realize is we know almost nothing about God and therefore we should be eager to search and to learn.
The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.
Confidence in markets and in institutions, it's a lot like oxygen. When you have it, you don't even think about it. It's indispensable. You can go years without thinking about it. When it's gone for five minutes, it's the only thing to think about.
... the loss of public confidence in the financial community growing out of its own conduct in recent years. I insist that more damage has been done to stock values and to the future of equities from inside Wall Street than from outside Wall Street.
The most interesting biofuel efforts avoid using land that's expensive and has high opportunity costs. They do this by getting onto other types of land, or taking advantage of byproducts that aren't used in the food chain today, or by intercropping.
Anything that someone's interested in should be very, very easy to call up onto the screen. And in fact the computer over time will see what you're interested in and make that immediately available without your having to be give any commands at all.
Work at a place like Google for awhile: if you do an interview and you say all the right things, no one really cares. But the day you say the wrong sentence, it's attributed to 'Senior Google Executive,' and the stock moves, and everybody hates you.
It's very difficult for any particular segment of the stock market to sustain superior performance. The watch word for our financial markets is, "reversion to the mean" i.e. what goes up must come down, and it's true more often than you can imagine.
I needed to save every penny…I needed to be strong, and needed to find some way to secure a future. That’s why I am always conservative. I never forget to maintain stability while advancing, and I never forget to advance while maintaining stability.
Most businesses change in character and quality over the years, sometimes for the better, perhaps more often for the worse. The investor need not watch his companies' performance like a hawk; but he should give it a good, hard look from time to time.
The best way to prepare [to be a programmer] is to write programs, and to study great programs that other people have written. In my case, I went to the garbage cans at the Computer Science Center and I fished out listings of their operating systems.
People can criticize Microsoft for supporting this TV thing for the past eight years, but it is a long-term bet, There is not any other software business that is as dedicated to the vision of the TV and the PDA [personal digital assistant] as we are.
We are seeing pioneers moving out to the Internet, banks that are taking transactions, retail shopping on the Internet, and although it's going to take most of a decade before most adults are turning to the Internet for a high percentage of their act
I'm sorry that we have to have a Washington presence. We thrived during our first 16 years without any of this. I never made a political visit to Washington and we had no people here. It wasn't on our radar screen. We were just making great software.
I wasn't put on the Earth only to be an investor. That wasn't my only thing in life. The problem is that as you get good at something and you keep getting better at something, more and more people just know you as that, and they have you in that box.
I could be a school teacher and be rich. It has nothing to do with your money; it has to do with your knowledge. If I was a school teacher, I would be ten times richer because I have more time off! They get the summer off, holidays off, weekends off.
I think the high-tech industry is used to developing new things very quickly. It's the Silicon Valley way of doing business: You either move very quickly and you work hard to improve your product technology, or you get destroyed by some other company.
Automotive franchise laws were put in place decades ago to prevent a manufacturer from unfairly opening stores in direct competition with an existing franchise dealer that had already invested time, money and effort to open and promote their business.
I was living in Paris, which is a very beautiful, very wonderful place, but a tight place as a city, a tight place culturally. Its people are very brilliant, thoughtful, the place functions, but it's a historical place in some ways, like a big museum.
Making money has always been pretty easy for me, but today I don't need any more money. I still work, because money is important, but my work is more important than the money, now. And that's a very big difference. I just work because I enjoy my work.
Between the Community Redevelopment Act, requiring banks to make what I would call very weak loans, and specific quotas that the Congress imposed on Fannie Mae and Freddie Mac, that created the market demand that really led to the subprime phenomenon.
The story of Joseph in Egypt and of the seven fat and the seven lean years has passed into the homely wisdom of the ages; but our economic thinking seems to have lost contact with so simple and basic approach to prudent management of a nations welfare.
I hope you will judge yourselves not on your professional accomplishments alone, but also on how well you have addressed the world's deepest inequities...on how well you treated people a world away who have nothing in common with you but your humanity.
Well the Global Fund, because of how well it's worked on not only AIDS, but also malaria and tuberculosis, I'd say it's well accepted. I mean, it's not politically controversial that this is a great humanitarian effort. But budgets are very very tight.
Over time, yes, countries will need to look at specific GMO products like they look at drugs today, where they don't approve them all. They look hard at the safety and the testing. And they make sure that the benefits far outweigh any of the downsides.
A great idea can't succeed without a great operator. But rarely can a great operator squeak by with a bad idea. So, as pithy as it sounds to say 'It's all about the people,' I only invest when I think I have found the right team for the right business.
Even though the risks of death are higher driving than flying, many people would rather drive simply because they feel they have more control driving. The facts are that only a few hundred people die a year flying, and 44,000 are killed a year driving.
It's just that I landed up in a terrific capitalist system. One that pays people who allocate capital extraordinarily well. Intrinsically, I'm not worth as much as somebody who invents something that could improves people's life, or health or whatever.
Real investment risk is measured not by the percent that a stock may decline in price in relation to the general market in a given period, but by the danger of a loss of quality and earnings power through economic changes or deterioration in management.
The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The intelligent investor is a realist who sells to optimists and buys from pessimists.
I always invest my own money in the companies that I create. I don't believe in the whole thing of just using other people's money. I don't think that's right. I'm not going to ask other people to invest in something if I'm not prepared to do so myself.
[The main focus in my life now is] to open people's minds so no one will be so conceited that they think they have the total truth. They should be eager to learn, to listen, to research and not to confine, to hurt, to kill, those who disagree with them.
We all have tremendous potential, and we all are blessed with gifts. Yet, the one thing that holds all of us back is some degree of self-doubt. It is not so much the lack of technical information that holds us back, but more the lack of self-confidence.
I will do anything that is basically covered by the law to reduce Berkshire's tax rate. For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit.
We always see shifts in employment. If you think about it, if you go back to 1800, it took 80 percent of the labor force to produce enough food for the country. Now it takes less than 3 percent. Well, the truth is that market systems move people around.
We need to throw the resources at this that are necessary. But like I say, we are not spending money. I mean, if we buy these assets intelligently, the United States Treasury will make money. I mean, it's borrowing money. It's just a few percent a year.
Mexico has 44 treaties with other countries that make it very advantageous to do international shipping from Mexico rather than from the United States. Believe it or not, Mexico has better treaties with the rest of the world than the United States does.
Playing Bridge is a pretty old fashioned thing in a way that I really like. I was watching my daughter ride horses this weekend and that is also a bit old fashioned but fun. I do the dishes every night - other people volunteer but I like the way I do it.
The spread of online information isn't just good for charities. It's also good for donors. You can go to a site like Charity Navigator, which evaluates nonprofits on their financial health as well as the amount of information they share about their work.
My tax return in the United States has to be kept on a special computer because their normal computers can't deal with the numbers. So I am constantly getting these notices telling me I haven't paid something when really it is just on the wrong computer.
There's 20 companies that I have investments in - some batteries, some solar-thermal, one big nuclear thing. We need hundreds and hundreds of companies like that, so that in a 20-year time frame we really are starting to change the energy infrastructure.
You know, my degrees are in computer engineering. I spent a lot of time in the tech industry. And I like to say that I don't invest in tech because I spent time in it. And I saw firsthand that the durability of technology moats is many times an oxymoron.