Sublime

In general, differences in expectations about the future often create value in negotiations.

So, participation is risky in that sense.

Character doesn’t just aid in creating wealth, it’s the key to protecting it.

Edward Jones also tailored its value chain to its chosen customer segment, conservative individual investors who wanted a trusted advisor to make financial decisions for them. Trust is built through personal, face-to-face relationships. To that end, Jones invests in conveniently located offices, and lots of them—in small towns, suburbs, and strip m

Walt Disney, or Steve Jobs, or William Randolph Hearst did after going through their biographies and examining their business structures. Almost all their decisions were ultimately based on leading their industries with a strongly-honed intuition, sharpened by knowing their markets, knowing human nature, and knowing what was coming down the pike.

Prestige, quality, and design are harder to put numbers on.

The less a buyer knows objectively about the quality of the products and prices in an assortment, the stronger the pull of the “magic of the middle” will be.

Steve Jobs was able to wander around Xerox PARC because those who brought him there trusted him. Once again, this shows that trust encourages the formation of the large networks that our society needs to accumulate knowledge and knowhow, even if trust sometimes works in mysterious ways. Trust contributes to network size by reducing the cost of link