You can't start taking away benefits if people don't have any opportunities.

All of our policies are based on whether it will make - enable people to improve their lives or it will make their lives worse.

If you're a leader at any level and your people aren't challenging you, you've got to change that or you can't be a leader here because you're not going to be using ideas, you're not going to have innovation, you're not going to fully develop your people. And if you're working in a group and you don't challenge, then you're not really doing your job.

Let's say I am a chocoholic and I eat tons of chocolate a day. A hundred thousands of tons a day. I have this craving, but I can't afford it, so I get a printing press, and I start printing money, and I print billions and billions to buy chocolate. So I create this boom in the chocolate industry, so stores are running out of chocolate. So they have demand, so chocolate makers expand. Cocoa growers expand. You create this great boom. But now the feds arrest me and shut me down. And now there is a depression in the chocolate industry. That's what happens with the monetary policy.

Best part of my job is fulfillment. When I see that, that we're creating value, that we're helping improve people's lives, and we benefit from it, so it's a system of mutual benefit. Our philosophy's working. That's what turns me on. That's what keeps me going.

The old idea that some genius pulls all of this stuff out of the air is ridiculous. As Ridley pointed out, the only way Edison could invent the lightbulb is because all the elements had been developed before. That's obvious it wasn't just his genius - 20 others developed it at the same time. And that's true for almost every invention and discovery.

I don't have all the answers. I have a lot of questions. And I have some basic principles.