Doesnt Create Value News Today

Important how you make it and with whom. >> the starting point in my philosophy, the starting point, you know, for long-term success is not thinking how i do maximize my profit. its how do i create the most profit, the most value for others, for my customers and in society. and, and then as youre able to do that, then you can worry about i want to be compensated for all the value im creating for others. and that needs to be every -- if a business person wants to be successful over time, that nee...

We try to reward people according to the value they create. value they create in society and value they create for the company. >> and that you will hire based on talent even if you dont have an open spot necessarily? >> on value, yeah. if we find somebody who has a great combination of talent that we think we can use and values consistent with our principles, we want to hire them. >> how can you hold to a budget under those circumstances? >> well were not big on budgets. we want to vallate ever...

Boss? >> oh, absolutely. we try to reward people according to the value they create. value they create in society and value they create for the company. >> and that you will hire based on talent even if you dont have an open spot necessarily? >> on value, yeah. if we find somebody who has a great combination of talent that we think we can use and values consistent with our principles, we want to hire them. >> how can you hold to a budget under those circumstances? >> well were not big on budgets...

Boss? >> oh, absolutely. we try to reward people according to the value they create. value they create in society and value they create for the company. >> and that you will hire based on talent even if you dont have an open spot necessarily? >> on value, yeah. if we find somebody who has a great combination of talent that we think we can use and values consistent with our principles, we want to hire them. >> how can you hold to a budget under those circumstances? >> well were not big on budgets...

Important how you make it and with whom. >> the starting point in my philosophy, the starting point, you know, for long-term success is not thinking how i do maximize my profit. its how do i create the most profit, the most value for others, for my customers and in society. and, and then as youre able to do that, then you can worry about i want to be compensated for all the value im creating for others. and that needs to be every -- if a business person wants to be successful over time, that nee...

Important how you make it and with whom. >> the starting point in my philosophy, the starting point, you know, for long-term success is not thinking how i do maximize my profit. its how do i create the most profit, the most value for others, for my customers and in society. and, and then as youre able to do that, then you can worry about i want to be compensated for all the value im creating for others. and that needs to be every -- if a business person wants to be successful over time, that nee...

Buck. were in it to maximize value over time. >> at koch industries, even you get evaluated, is that true? >> thats true. >> how does that work? >> that works great. i learn a lot. >> arent you afraid of a bruised ego? >> no. heres the thing. i think all of us need this attitude. do you want to have your feelings hurt a little bit because youve got some negative feedback? or do you want to continue down the disastrous track youre on and have a huge disaster. talk about a bruised ego. it may ruin...

Buck. were in it to maximize value over time. >> at koch industries, even you get evaluated, is that true? >> thats true. >> how does that work? >> that works great. i learn a lot. >> arent you afraid of a bruised ego? >> no. heres the thing. i think all of us need this attitude. do you want to have your feelings hurt a little bit because youve got some negative feedback? or do you want to continue down the disastrous track youre on and have a huge disaster. talk about a bruised ego. it may ruin...