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Part of philosophy of being a big company

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Part of philosophy of being a big company.
Great way to recruit.

Potentially influence public policy.

Energy is expensive. Always trying to develop the most efficient product.
: Why 2004, not 1994.
Climate change.
: So based on social norms changing, you went with different marketing.
: Greenwashing.
I'm a bit defensive about this. Just when we decided to put ribbon around it.
: Other companies.
Walmart. 2006 wrapped themselves around green. Changed their image - got store locations they were having problems with before.

Mostly telling suppliers they had to get greener.

Helped penetrate towns they could not have penetrated before.
David Dell: Big vs entrepreneurial. Small cos have same toolsets?
In terms of gathering in - consumer technologies have equalized a lot of stuff.

You can be anywhere in the world and have all your information there.
Salim: Small have more - large have enterprise security tools.

I have not seen single large co more productive than small.
Went to Google Enterprise - dedicate cage.

Regulatory point of view.

We had to know exactly where our servers were. Where our data is.

Government cares.

It would have hurt Microsoft quite a bit.

Either dedicate cage to us or you don't.

They said - not our approach.

That was it. Remarkable.
Eric: Will the successful business in 20 years look like?
You nailed it before. Focus on learning. Utterly. Lot of experiments.

Very technology based - that will be where action is.


Most great companies will be global

Distinguishing - leverage technology, have right processes.

Take advantage of global
Telepresence. Phenomenal tool.

Phenomenal for shrinking cycle time.

Decision making

Product development.

Chicago, India, China - leverage best.

Companies that can do that will win.

Just China will lose.

Virtually collaborate better will win.
Eric: Just for competition sake?
Role of government is to deal with social issues.

Incentivize the good.
: Carbon trading?
I would tax carbon. Politicians don't have the guts to do that.
JG: India tax on coal.
70% comes from servicing what they sell.

GE - global.

Particular mater
Future companies, learning all the time, global, global/local. What is difference between that and academia?
Different missions.
Better, more educated people in academia.

Better products/services in business.

The end goal is a little different.
David A: Always learning - fusion - business toward something more academic.
Best businesses work very closely with academia.
Sasha: Take on financial markets.
So, financial service companies are essential.
Sasha: Quarterly earnings. What we are seeing in reactions to blog posts?
Question is how does being public help?

Relatively inexpensive source of capital.

Gives currency to compensate.
Negatives are enormous. You are exactly right: need to perform quarterly.

Worse post Enron.

Quarterly target is unbelievably expense- things they do that hurt long term are legend.

It takes a gutsy leader - we are not going to do anything different.

If we hit, we hit. If we don't, we don't. We're here for the long term.

That is the right way to run a company.
Sasha: Valuation of digital companies now. Zynga. Facebook?

My thinking - a largely rational, financial market. Uncharacteristically irrational space.
Question with FaceBook - either they figure out how to monetize.
Bill: Making a lot of money. Making a shitload of money.

Twitter may have monetization issue.
When Google was 2 years old, they had not yet invented ability to put ads on.

Put 1 million down, took 4 billion out.
Brad T: Never spent money Kleiner gave them.
Networking - only one place to go.

Very powerful thing.
Sasha: I understand they make money today.
Expected value.
Sasha: Largely irrational.
Brad T: Zynga social games - will be bigger than console gaming - which is a big business.
FaceBook, might be worth $50 or $10 bn. Currently $30.

Having seen what happened to Google, people are taking the chance.
: For awhile, GE was \"financial services\"
They were half. As was
: Losing sight?
Yes. We've said that publicly.
Salim: Theoretical. Over last 10-15 years, cell phones and email. Speed decisions.

Huge productivity. How big those gains are, 24/7 decisions.
Own quick view - I don't think company like GE could perform globally - ability to compete globally.
David Rose: Small companies.

This room - people all multitasking.

Speeded up = not 49 days to 12 days.

Gave Slow Tuesday Night - fortunes made and lost overnight. Hyper speed.
David Dell: 8/10 years ago. Economists said you could not measure productivity gains.

Still don't measure the dumb things not being done.
Resort to revenue per person.
Steve: Hedonistic economics.
Haven't heard that phrase.
Steve: Depends on point of view. Not accurately depicting inflation - TV had certain functionality,

now different. Reduce inflation.
Feature enhancement.
Steve: Fair to do?
If you spent $40,000 for a car in 2009. If you spend $40K for car for BETTER car in 2010, then you've had deflation.
Hard to do, but they make the effort in CPI.
Brad T: Nuclear power increase.

Some people charge - nukes in US tied to weapons. Led to proliferation.

How do we switch.
Concentration of rich Uranium - far greater for weapons than power.

Hard to imagine they were linked.
Brad T: Uranium cycle. Vs other minerals.
Everything I know about nuclear says that can be ramped up quite safely.

France 70% nuclear
We had one bad issue with Russia -

If it were me, I'd be rolling those babies out big time.

But it is not me.
David A: Spaces for silence, reflection slowing down. Ruminating.
That is essential.
DA: See it happening?
People use the word. Great leaders listen well. Really really listen.

Leaders fake listening.

Other leaders act like they are not listening, but they really are.

That was Welch.

You'd say, \"Do red.\" He'd say, \"It's blue\" Then another day, he'd say, \"I have this great idea. Red\"
: Three problems/growth areas.
Oil gas - particularly offshore

Healthcare technology - kind of coming back - India / China

... that's it. Aviation is slow now.
Problem with China -negotiations make making money difficult

Energy not growing - excess capacity - lot of industries 4300 excess parked locomotives.

10% airplanes parked.

Utilities - not buying new stuff.
Last questions?


Q: Health care IT?
Going to happen.

US created right incentives.

Meaningful use.

$780 bn allocated to recovery.

Several bn to all health care providers - carrot, no stick

If they demonstrate meaningful use.


Nurse use

Doctor use

Be there for next 4 years,

will happen despite doctors not wanting to do that.

Not same incentives elsewhere.
Good solutions out there.


Automating entire hospitals.
: AI for doctors.

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