A real entrepreneur is somebody who has no safety net underneath them.

Going public is not a business plan.

As I said there is nothing wrong with failing. Pick yourself up and try it again. You never are going to know how good you really are until you go out and face failure.

A real entrepreneur is somebody who has no safety net underneath them.

If you have something at risk, you think differently.

I love the ability to work with very good managers, and to provide the right incentives for them, and truly become a partner with that management, and make that management take a long view.

I thought at the time that I wanted to go into institutional sales, selling stocks and bonds to institutions. In those days, which was the 1960s, the institutional salesman was making about $100,000 a year. I thought that was just an enormous amount of money.