There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes.

Principles are what allow you to live a life consistent with those values. Principles connect your values to your actions.

We don't have ways of resolving the arguments in idea meritocratic way.

Radical transparency is critical to having an idea meritocracy because it shows what's actually happening without spin and prevents people from maneuvering politically behind each others' backs. It brings problems and weaknesses to the surface and allows people to see how they are dealt with, so it's great for training people on how to deal with real problems.

Know what your people are like, and make sure they do their jobs excellently.

This is my year of transition from what I'm calling the second phase of my life to the third phase of my life. And I wanted to pass it along. What I mean by that is, in the first days of your life you're dependent on others and you learn. You're basically a kid, depending on your parents. In the second phase of your life, you're working and others are dependent on you and you're trying to be successful. And then when you go to the third phase of your life it's no longer as much of a kick to be successful. There's a natural, instinctual desire to help other people be successful.

The more you think you know, the more closed-minded you'll be.