Times of economic crises can change what the competitive landscape looks like, because when, for example, you have boom times, capital is easy to come by, growth is easy, sometimes what you focus on is, you know, how to accelerate in the boom. During economic crises, the question is, the companies that come out of, you know, that are sailing through that with the best liquidity, both assets on the balance sheet, making money, ability to grow their businesses, get a disproportionate competitive advantage.
Reid HoffmanThe key thing that I find that when you're kind of in boom times and you're hiring bunches, if you can hire, you know, always maintain very high standards and even if you, you know, can't find enough of, you know, what is typically called A players, then don't hire the people. All right? So, you know, use that as a way of standards.
Reid HoffmanI find that the interesting challenges, because there's obvious things where, you know, don't be unethical, don't be evil, you know, don't break the law, don't do immoral things, those are all straightforward and don't create ethical dilemmas. The thing that's interesting is when you actually have multiple interests at stake and you have to kind of navigate your way through it.
Reid HoffmanMy greatest influences are actually probably a set of different teachers. And these teachers, most prominently at my high school, but also a few others, helped kind of instill in me, thinking thoughts about how life is meaningful in terms of how we all kind of live in a network of people and how you interact with those people is part of what makes life essentially meaningful and then kind of concepts to think about, how do you add value to other people's lives? How do they add value to yours? And how do you kind of form a community together in the network?
Reid Hoffman