When the functionality of a product or service overshoots what customers can use, it changes the way companies have to compete. When the product isn't yet good enough, the way you compete is by making better products. In order to make better products, the architecture of the product has to be interdependent and proprietary in character.

By the time it becomes obvious that a technology will have truly disruptive impact, it is often too late to take action. This is one reason why we are such advocates of using theory to try to analyze industry change. Conclusive evidence that proves that a company needs to take action almost never exists. In fact, the data can fool management, lulling them into a false sense of security.

Regulatory fiat cannot create a market at a technologically interdependent interface. And by the same token, regulation and so-called monopoly power rarely prevail at modular interfaces between stages of value-added technology.

As I have studied the Bible and the Book of Mormon, I have come to know through the power of the Spirit of God, that these books contain the fullness of the gospel of Jesus Christ.

Management has to provide the coordinating mechanism between what the supplier provides and what the user needs in not-good-enough situations where product architecture is consequently interdependent. Management always beats markets when there is not sufficient information.

If you defer investing your time and energy until you see that you need to, chances are it will already be too late.

I've concluded that the metric by which God will assess my life isn't dollars, but the individual people whose lives I've touched. I think that's the way it will work for us all. Don't worry about the level of individual prominence you have achieved; worry about the individuals you have helped become better people.