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.

The best move you can make in negotiation is to think of an incentive the other person hasn't even thought of - and then meet it.

For businesses to be successful, they need to constantly ask the question: how can we provide value to our customers? At the end of the day, that is what matters.

To me, money is a means to do good. I reached a point in my life where I had enjoyed tremendous business success that afforded my family everything we could possibly want. My wife and I then decided that we could use our wealth to make a difference. So we created the Broad Foundations to do four things: to improve urban public education, to support innovative scientific and medical research, to foster art appreciation for audiences worldwide and to support civic initiatives in Los Angeles.

Charity is just writing checks and not being engaged. Philanthropy, to me, is being engaged, not only with your resources but getting people and yourself really involved and doing things that haven't been done before.

Unfortunately, the boards of art institutions tend to be populated with well-meaning supporters of the arts who often lack any business background or appetite for imposing appropriate discipline.

People don't know I've got a deep social conscience. I'm a child of the Depression, born in 1933. My parents were very liberal in their social views.