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Universities think people come up with great ideas by closing the door. The academic tenure process, where you have to publish to journals which are very narrow, stands in the way of great research.
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People have an idol they want to be like and try to follow what the idols did. But when you do, you find out you're not very successful and you're not very happy. You try to copy these models, and it doesn't yield successful results.
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I'd been raised Mormon, but there comes a time where you are not following what you've been taught, but discovering for yourself if it's true.
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We are awash in content that needs to be taught, yet the vast majority of colleges give a large portion of their faculties' salaries to fund research.
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Do not be deceived by impostors.
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Disruption is a process, not an event, and innovations can only be disruptive relative to something else.
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I have been blessed to see visions of eternity; and events in my future that have been important for me to foresee, have been revealed to me.
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From my first year on the faculty, there was always so much more I wanted to impart to the students. I decided that, rather than waste the last day of class summarizing the semester, I'd spend my time talking about what I'd learned in life that was useful.
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In the scriptures, we are told you can't really understand happiness unless you understand sadness. You don't know pleasure if you don't know pain. It's part of life. So can you learn something from somebody who has gone from success to success to success? I don't think so.
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In our personal lives, we have a lot of businesses going on. I have a profession, I'm a father, a spouse, a good member of my community. How much of my time and energy can I allocate to each of those things? What I allocate becomes the strategy I have for my family, and everything else.
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As a general rule, when a new industry takes root, and the first products emerge in a wave, almost always the architecture of the product will be proprietary and interdependent in character.
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In the Mormon Church, we believe we can be married for all eternity, not till death do you part. As Mom was getting older, she was excited, truly excited, that within a few years she'd be with Dad again.
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When considering a career move, consider the most important assumptions that have to prove true and how you can swiftly and inexpensively test if they are valid. Also, remain realistic about the path ahead of you.
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Colleges would compete by adding professors, enhancing programmes or building nicer facilities. So they competed by making institutions better.
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There just isn't anything more invigorating than to read an article or hear about an entrepreneur using the term 'disruptive technology' that makes no reference to me as the source. When it's clear they really got the idea and they use it as if it were in everyday parlance, that's the ultimate triumph.
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The financial doctrines so zealously followed by American companies might help optimize capital when it is scarce. But capital is abundant. If we are to see our economy really grow, we need to encourage migratory capital to become productive capital - capital invested for the long-term in empowering innovations.
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To focus capital and entrepreneurship into empowering innovation, we should change is the capital gains tax rate. We would be better served by a regressive tax rate, that would become progressively smaller the longer the investment is held.
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To become the kind of person you want to become, you've got to have discipline. It's easier to keep to your standards 100 percent of the time versus 98 percent of the time.
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I think this is one reason why the Lord invented the Internet - so members can teach one another how to succeed in assignments the Lord has given us, and to give us opportunities to inspire and bear testimony in a horizontal way.
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Smart companies fail because they do everything right. They cater to high-profit-margin customers and ignore the low end of the market, where disruptive innovations emerge from.
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American capitalists, enthralled by the doctrines of finance, have put their income statements in service of the balance sheet.
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No idea for a new growth business ever comes fully shaped. When it emerges, it's half-baked, and it then goes through a process of becoming fully shaped.
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When you're thinking about your next product or current product and wondering how to make it different so you don't have competition, understand the job the customer needs to get done.
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Venture capital is always wanting to go up market.