Sublime

Unlike many of their competitors, all of the one-firm firms tend to “grow their own” professionals, rather than to make significant use of lateral hiring of senior professionals.

‘workmanlike’ players were selected instead of ‘stars’ and the appeal of the ‘David Beckham’ narrative (the instinctive belief that good-looking players are somehow better) was rejected.

Years later, after Grove had learned to appreciate this, he read Peter Drucker’s The Practice of Management, which described the ideal chief executive as an outside person, an inside person, and a person of action. Grove realized that instead of being embodied in one person, such traits could exist in a leadership team. That was the case at Intel,

“profit per partner” should be viewed as the professional firm equivalent of “return on equity.” The time and efforts of the partners (who have a claim on the profits of the firm) can be seen as the firm’s equity investment (often called “sweat equity”).

in the final of Key Biscayne, I beat Federer. It’s a good win. He’s as hot as anyone on tour. He came into this tournament with twenty-three wins so far this year.