I went off to meet the dignitaries. We rode rides and posed for pictures. I struggled to smile and go on with the show. It was a stark example of the truth that what people see on the outside so often doesn’t reflect what’s happening on the inside.

I’m often asked what aspect of the job most keeps me up at night. The honest answer is that I don’t agonize over the work very much. I don’t know if it’s a quirk of brain chemistry, or a defense mechanism I developed in reaction to some family chaos in my youth, or the result of years of discipline—some combination of all of those things, I

Fear of failure destroys creativity.

but I was determined not to live a life of disappointment. Whatever shape my life took, I told myself, there wasn’t a chance in the world that I was going to toil in frustration and lack fulfillment.

Courage. The foundation of risk-taking is courage, and in everchanging, disrupted businesses, risk-taking is essential, innovation is vital, and true innovation occurs only when people have This is true of acquisitions, investments, and capital allocations, and it particularly applies to creative decisions. Fear of failure destroys creativity.

I talk a lot about "the relentless pursuit of perfection." In practice, this can mean a lot of things, and it's hard to define. It's a mindset, more than a specific set of rules. It's not about perfectionism at all costs. It's about creating an environment in which people refuse to accept mediocrity. It's about pushing back against the urge to say

They comported themselves with the same honesty and forthrightness no matter who they were talking to. They were shrewd businesspeople (Warren Buffett later ealled them "probally the greatest two-person combination in management that the world has ever seen or maybe ever will see"), but it was more than that. I learned fiom them that genuine

Thoughtfulness. Thoughtfulness is one of the most underrated elements of good leadership. It is the process of gaining knowledge, so an opinion rendered or decision made is more credible and more likely to be correct. It's simply about taking the time to develop informed opinions.

I make sure to connect and speak with every person at the table. It’s a small gesture, but I remember how it felt to be the overlooked sidekick, and anything that reminds you that you’re not the center of the universe is a good thing.