There are some very difficult things to understand that globalization is providing, that people really think are just here but really are a function of some of that. There are some very difficult arguments.

I would point out is that most of the change over the past 5,000 years has been arithmetic, and it now logarithmic. Digitization, the whole Moore's law thing where it doubles every 18 months - that is a speed that is faster than most people are used to.

I asked one retailer, I said, "Let me ask you, are you going to raise prices next year?" They looked at me and said, "Not only are we not going to raise prices, we're going to have to lower prices, increase the quality of the goods, and turn the inventory quicker."

By the way, I'm not sure the managing director who was 50 in 2005 understood that the job had changed - that when he or she came out of school in 1986, that it was different. How would they know? We've got to admit that.

Remember, for 5,000 years people probably rode those horses. They probably felt that horses were a permanent part of civilization. Everybody has had this moment.

It is hard to compare over generations. I think a lot of the top talent is choosing other fields. We look pretty hard - we put a lot of time and effort into finding talent.

We're a small part of this ecosystem. When we go to a school and talk about investment banking, they are these monster financial conglomerates, and so we end up in the same pot. That is still an issue for us.