Know your core competencies and focus on being great at them. Pay up for people in your core competencies. Get the best. Outside the core competencies, hire people that fit your culture but are cheap.

Most people think money is the key to reducing risk. Prepartion is.

I retired at twenty-nine, bought a life-time pass on American Airlines and my only goal in life was to party like a mad man and get drunk with as many people as possible. And I was happy right there. But when we started the streaming business, I knew it could be something big.

I love the competitive aspect of it [business]. It's like playing chess. Why do people play chess? Knowing the realm of moves? Even when you get to be a chess master, there are other chess masters you want to beat or outperform. And to me business is just a sport that I love to compete in; a continuous intellectual challenge that really motivates me.

You never win any games you don't play.

Never follow your dreams. Follow your effort. It's not about what you can dream of. That's easy. It's about whether or not it's important enough to you to do the work to be ready to be successful in that business.

My days are straight out of the movie Groundhog Day.