When you are starting a new business you don't want to go after giant markets. You want to go after small markets and take over those markets quickly.

Brilliant thinking is rare, but courage is in even shorter supply than genius.

Value investors look at cash flows. If a company can maintain present cash flows for 5 or 6 years, it’s a good investment. Investors then just hope that those cash flows - and thus the company’s value - don’t decrease faster than they anticipate.

I think in my twenties I tended to think of all people as sort of more or less alike. In now think that people are really different in all these subtle ways that are very important.

The most fundamental reason that even businesspeople underestimate the importance of sales is the systematic effort to hide it at every level of every field in a world secretly driven by it.

Education needs to be rethought. Education does not just happen in college, but it also happens in developing skills which will enable people to contribute to our society as a whole.

A company does better the less it pays the CEO.