When currying favor with Washington is seen as a much easier way to make money, businesses inevitably begin to compete with rivals in securing government largess, rather than in winning customers.

I try to build on our management philosophy. I try to understand what the threats and opportunities are for us. Uh, I try to make sure that we're driving innovation and creative destruction hard enough so we're not blindsided, and that our attitude is to, in starting any initiative, any business, is to focus on how we can create value for others, rather than how we maximize profit, because you can make money focusing on, "How do I maximize profit?"

They say your genetics are going to set your direction regardless of what happens, but I think there's more to it than that.

My philosophy, one of the biggest enemies of future success is past success, because you become complacent, you become risk averse, and that's one of the things we try to drive here, and this is fundamental to this philosophy, and that's in this component change, and also in value creation. That we need to drive creative destruction, not just incremental innovations, but innovations that will change the whole nature of the business.

You'll remember Newton was furious at Leibniz, because he developed calculus at the same time. And he went to his death believing that he had copied him. And no, it's because all the elements were there, so it's almost inevitable that the next discovery - as long as people are free and allowed to experiment and try new things.

Far too many businesses have been all too eager to lobby for maintaining and increasing subsidies and mandates paid by taxpayers and consumers.

Years later, when I asked my father, I said 'Pop, why were you so much harder on me than my younger brothers?' he said, son, you plum wore me out.