The easy way to make money is to get special political privilege. From the beginning of time, business has cozied up to government and gotten restrictions on competition and subsidies and stuff.
When currying favor with Washington is seen as a much easier way to make money, businesses inevitably begin to compete with rivals in securing government largess, rather than in winning customers.
I try to build on our management philosophy. I try to understand what the threats and opportunities are for us. Uh, I try to make sure that we're driving innovation and creative destruction hard enough so we're not blindsided, and that our attitude is to, in starting any initiative, any business, is to focus on how we can create value for others, rather than how we maximize profit, because you can make money focusing on, "How do I maximize profit?"
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