Sweat equity is the best startup capital.

I was lucky. I grew up knowing that hard work and smart work has a greater impact on results than being passionate about something.

I look at my annual budgets for everything and anything, and I look to see where I can save the most money on those items. Saving 30% to 50% buying in bulk - replenishable items from toothpaste to soup, or whatever I use a lot of - is the best guaranteed return on investment you can get anywhere.

Kids should go to college, but they should go to the best school they can afford to get through with minimal or no debt. That might mean going to a community college or an inexpensive local state school. Whatever it takes.

There is very little knowledge that can't be obtained through effort. With knowledge you can determine the state of any business or opportunity and find a course to gain an advantage.

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 always have to know what business you are in. Everybody thought we were in the basketball business. It's an NBA-team; we are not in the basketball business. We are in the business of creating experiences and memories.