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The lesson is that, No. 1, this management has to be at the highest class possible. No. 2, they have to have a succession plan.
Al-Waleed bin Talal -
You know, Saudi Arabia has a lot of poverty also. Regardless about what you hear about the viceroy and people being rich, et cetera.
Al-Waleed bin Talal
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So, if you look at what's common among some of the companies I have, including the Four Seasons, NewsCorp, George V, the Plaza, these are all irreplaceable brands in their own fields.
Al-Waleed bin Talal -
Well, clearly Apple is a role model of the American innovation whereby it produced all these products - iPod, iPhone, iPad - that are really now dominating all the technology arena in the world.
Al-Waleed bin Talal -
Some countries, like Saudi Arabia, where the population growth is very high, whereby you don't have the mortgage low yet. Still the demand outstrips supply by much.
Al-Waleed bin Talal -
No company should depend on one person no matter how that person is smart or genius, whether it's Apple or News Corp, or Citibank or any other company in the world.
Al-Waleed bin Talal -
My own center, my Kingdom Center, which is the highest priced tower in Saudi Arabia, was vacated twice because of terrorist attacks, terrorist threats.
Al-Waleed bin Talal -
I believe Twitter, right now, is just finishing the venture capital phase, getting into a maturity level.
Al-Waleed bin Talal
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The legacy of Steve Jobs and the strength of Steve Jobs is that he established a company that's clearly firing on all cylinders and clicking very well.
Al-Waleed bin Talal -
King Abdullah is a reformer.
Al-Waleed bin Talal -
But each country has to advance and move at its own speed.
Al-Waleed bin Talal -
Nowadays, anyone who cannot speak English and is incapable of using the Internet is regarded as backward.
Al-Waleed bin Talal -
If I'm going to do something, I do it spectacularly or I don't do it at all.
Al-Waleed bin Talal -
Well, it's very clear that the Arab population is rising because they'd like to have a say in the running of their affairs, running of their government, and this is very legitimate.
Al-Waleed bin Talal