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During normal times or boom times, there are some parts of the business that are going to so well, that that can cover for weakness and other parts of the business. What happens during recessions, is you have less windfalls just helping you cover mistakes. You have to be more careful about not making mistakes.

Reid Hoffman

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Reid Hoffman
Age: 57
Born: 1967
Born: August 5
Businessperson
Entrepreneur
Investor
Writer
Stanford
California
Reid Garrett Hoffman
Reid G. Hoffman
Going
Less
Boom
Times
Cover
Making
Careful
Business
Mistakes
Helping
Parts
Happens
Weakness
Wells
Normal
Well
Mistake
Recessions

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There's a lot of people in the world that would love to trade places with American citizens, and we are very fortunate to be here.
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The key thing is to invest in the future and what that means is when you're deploying technology or you're a technology business, is to make sure that you're keeping on the innovation cycle, where you're both creating and adopting the new business practices, and the new techniques in order to drive your business the right way.
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You have to be constantly reinventing yourself and investing in the future.
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So usually you have to have product distribution as more fundamental than what the actual product is.
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No matter how brilliant your mind or strategy, if you're playing a solo game, you'll always lose out to a team.
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Make sure a certain percentage of the people that you're hiring are generalists so that you can be, kind of reconfigured in the workforce pretty easily.
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I think the boarding schools are like miniature versions of Lord of the Flies.
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Everything in life has some risk, and what you have to actually learn to do is how to navigate it.
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When you think about being contrarian, you have to think about - how is it that smart people will disagree with me, disagree with me ...from a position of intelligence, and there is something that I know that they don't know, that will actually in fact play out to be true.
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If I ever hear a founder talk about oh this is how I have a balanced life so on and so forth - they're not committed to winning.
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One of the tests that I frequently use in an interaction is I push on the idea and what I'm looking for is both flexibility & persistence.
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World-changing startups need to be premised on accurate contrarian theories.
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The fastest way to change yourself is to hang out with people who are already the way you want to be.
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When you turn a company profitable you've gone from a company whose days are numbered to a company whose days can be infinite.
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It is impossible to dissociate an individual from the environment of which he is a part. No story of achievement should ever be removed from its broader social context.
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A networker likes to meet people. I don't. I like accomplishing things in the world. You meet people when you want to accomplish something.
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Every individual is essentially now a small business and entrepreneur.
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Help the people in your network. And let them help you.
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Having a great idea for a product is important, but having a great idea for product distribution is even more important.
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Good ideas need good strategy to realize their potential.
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