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Tom Peters

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2018-06-20
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2018-06-20
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  1. Bit less rude. And maybe that is a significant saving grace over a longer period of time. But I'm not counting on Santa Clara County. I weep for Santa Clara County.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  2. No. No, I don't. And given the nature of government, I don't expect anything to come out of Washington. I don't think they're going to become irrelevant. I think the whole process of using AI is going to be much uglier. I mean, you know, for God's sakes, we talk about the Industrial Revolution. Yes, it took longer. But what did it include? A couple trivial things, like World War I, World War II, and so on. It's going to be an incredibly messy transition, number one. And I don't think that maybe, and you have to tell me because you're the one who sits on the other side of the microphone, maybe it's going to be better coming out of Austin Greater Boston, Seattle, and so on. Maybe. I happen to live in Greater Boston now, but that's irrelevant. I'm still a Palo Alto boy. That's who the hell I am. The mentality, I think, around entrepreneurship in Boston, Greater Boston, is a little bit less coarse and a little...

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  3. That to me is what every business leader, whether you're working in a six person training unit in a $80 trillion company or have a six person company, that's what it is all about. Human beings serving human beings. And it's a great way to make money in 2018.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  4. I have a moral responsibility to have the people who work for me for four months on a temp project or four years leave the organization better prepared for the future. There's a wonderful quote, Robert Altman won the Lifetime Achievement Award as a movie director, and he said, the role of, I just love this, and I've gotten fantastic response to it. The role of the director is to create a space where actors and actresses can become more than they have ever been before comma more than they have ever dreamed of being.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  5. A pooper scooper bag. Right, exactly. And that's how the hell you have, that's how you create 17,000 jobs in an industry that is laying off tens of thousands. Right. I believe humanization can work anywhere. I believe it can work with my six-person appliance repair guy. And that to me is the answer. But I don't go to church very much and so on, but I wrote a lot in the book as well of what I called moral responsibility. And that's my real answer to what you're saying. If I am a leader of anything.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  6. I got in, I don't know, you know the book, The Business Romantic, by Tim Liebrecht. It's a fabulous book. But he and I were talking about this, and I was talking about stuff like, and I went out and I'm always amazed at the domain names you can find. And so I've got two new domain names from last week, Radical Humanization and Extreme Humanization. And I really think, you know, you can figure out how to use them. I don't know how to use these. I like those. They aren't bad. But it's extreme humanization to me. It's an offensive strategy. It is not a defensive strategy. I'm carrying around in my pocket something that came from this metro bank. It's a blue plastic bone. You're walking your dogs. Yeah. Well, yeah, but what's inside it?

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  7. My company with 200 employees is going to focus on creating an environment where the pilot stops and helps somebody down the jetway and you will remember that for the rest of your life and thanks to social media, you will tell 83 gajillion people. So creating that kind of an environment.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  8. Well, again, it's what we've been talking about all the way through. Henry Minsberg, who is the real number one management guru from Canada, has a wonderful study that he revealed. And it says that when you get out of university, if you have a professional degree, law engineering, business, and so on, you get twice as many job offers, 50% as much income at year 20 the liberal art people arts people have knocked them off the rails. There was a wonderful study. I'm sure you've delved on it. I saw it reported in the Washington Post and it came out of Google. Their best employees, seven key traits STEM is last. Just staggering to read that stuff. So my belief is in my perfect world,

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  9. My people, the men, we do you guys the favor of dying seven and a half years earlier. That helps. Yeah, it's our pleasure. Women may not be at the CEO level, but over 50% of American managers are women now. And so at the first three or four levels, the amount of wealth coming in in terms of income and so on is enormously high. And you put women and age together and you have got the most dynamite market known to humankind. And, you know, one little number that, I mean, you know, the average American buys 13 automobiles in the course of his or her life. All right. Seven of them after the age of 50.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  10. 32 year olds don't understand 55 year olds. And yet, you know, you can throw numbers around, but just one quote that just nailed me relative to this is a guy who used to be the head of ARP. And he said, at the age of 50, You have only gone through half of your adult life. You know, we're going to live to be 75. We're going to be relatively healthy at 75. The tuition is paid off. The mortgage is paid off. We have this joy on earth called discretionary income and time to spend it. And my old friend.

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  11. Oh, yeah. I like pizza delivery What Which in general, which has always been true in marketing. Why don't we focus on older people? It's the same thing. Every ad agency if you're over 32

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  12. It is interesting because a lot of the inventions are, I have a joke where I say San Francisco has become assisted living for millennials because all new inventions are about pizza delivery. Oh, yeah. I like pizza delivery, but it was a really interesting, and everybody laughed. And I'm like, no, but think about it. What's being designed, what's actually being designed is for their benefit. And so where are the creative things that work in?

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  13. Still awful. I mean, again, relative to what I do when I throw books at people and so on is start with the market. I am not asking you to believe that women are better leaders. I'm asking you respond to your market, right, of course. And that's the same people, incidentally. I've got two topics on that in the book. The other one is me. We can talk about all this stuff, but who has the money? It ain't the millennials. It is the over 50s, right? Nobody understands that, Silicon Valley, frankly, or anywhere else. And that's insane.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  14. No, no, we did that on the new Facebook resort. One thing that's going to happen, and this doesn't speak to the much more difficult issue of white men, et cetera, is men have become superstars at dropping out. And I think the undergraduate and the women graduates at the baccalaureate level is something like 55% women graduates at the graduate level is up in the 60s. I mean, my laugh line is 10 years from now, I know there's going to be a woman CEO because if all five candidates are women, it is happening, but the numbers are.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  15. Lower number of women Fortune five hundred CEOs than we have CEOs whose first name is Jim, right, yeah I love that. Yeah, we did that on the train laughing hysterically spitting all over the guy next to me but it's it's not funny

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  16. But one of the tragic answers, which I happened to read when I was on the train coming down from Providence this morning, and I tweeted it and I said, Melinda Gates gets the quote of the year. And she said, we have.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  17. Yeah, we ended up with a great conversation. I mean, Bro Topia. I read it in a book with hardcovers, and if you went through the book, you would see Barf stains on half of the pages. It was 10 times worse than I thought it would be. But how do you throw the question back to you? How do you fix something that bad? And that's not one that can be fixed by the most fascinating thing I thought. I think it was Brotopia. It might have been in the other book that came out. Most fascinating thing, and I think she was the one who said it relative to what we're looking at. She said there probably would, one of the problems of having all your code written by boys who in general don't have the social skills they might have, women would have brought a different sensibility to the writing of that code. And I think that is absolutely true.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  18. Because I completely agree with you and I don't know how this, you know, maybe there'll be, did you interview the woman? I can't remember her name who wrote Brotopia.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  19. And So, what happens in these industries? Because what is considered our most innovative industry, which is Silicon Valley and Tech, really is mired in not just not women, people of color, diversity of thought, diversity of age, diversity of everything, where they do not seem to be moving the needle. Where does that go in the current environment?

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  20. And so, you know, I think that any board that is not, and gender balance, I wrote this in the book, I said gender balance, I'm trained as an engineer, I'm shockingly sophisticated mathematically. If you have a board of directors of 10 people, gender balances, take 10, divide by two. Five women minimum. And frankly, I think it ought to be six or seven. The McKinsey study. And again, McKinsey is not into overstatement. They said if you want to succeed in today's world, start by promoting women. And I believe it is a different situation.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  21. First of all, it goes back to economics number one. When I start talking about this 22 years ago, I said, listen, social justice is incredibly important to me. I marched on Washington for choice, but that's not what I do for a living. I said, I am here because the simple fact of the matter is that women buy everything. 80% of consumer goods, women are now well over 50% of professional purchasing officers. So they are as likely to sign the 10-year $5 billion ISIT outsourcing contract as to choose the family vacation. And I have what I call the squint test. And my squint test is show me a photograph of your executive team. I ain't counting. We're not talking quotas. When I squint the composition of the team ought to look kind of sorta like the market that you're serving.

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  22. Brutal. One study they had said, and this was worldwide, companies with truly mixed gender boards wildly outperformed others financially, including a 56% higher profit margin. So I get into this in Twitter all the time. And I said, well, if you really want to know who I am, I believe in tokenism. And tokenism is every board should probably have one or two men. You know, Ruth Bader Ginsburg said, which I love. I know. If you're not in love with Ruth Bader Ginsburg, I need to clone her. Well, we both can. It'll be a little tougher for me. But we can both do it. And somebody say, well, you know, what will you feel is the right gender balance for the Supreme Court. She said, nine to nothing, women. Makes sense. First 225 years, we had nine zip men. But, I mean, I...

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  23. Fundamentally, as I read the research, the research says women are more effective leaders, women are more effective negotiators, women are more effective salespeople, women are better investors. One of my favorite books, I don't know if you've ever had her on. She's a motley fool person, Lou Anne Lofton, in her book. My favorite topic.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  24. You know, I've been working on women's issues since 1996. I've got a chapter on that in the new book and chapters in the book. So tell us. Well, first of all,

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  25. If you feel an ownership and if you feel a responsibility, the odds go up higher toward the world, toward the rest of the world. Toward the world. And there's more willingness to innovate.

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  26. And then I've got a longer one and I can't remember all the letters. Whoever tries the most stuff and screws the most stuff up the fastest wins. And I've got a chapter on that. And it's my only chapter on innovation. And I said to people, it's the only thing I believe after 30 years. But I see that, you know, so I've got that chapter and then I've got the people section. They're not antithetical.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  27. Incidentally, maybe I didn't hear you. I don't think there's anything at all antithetical about measured conversation and accepting responsibility and wild ass innovation. The two are not Anathetical Innovation is about trying stuff. I call it WTTMSW, whoever tries the most stuff wins. Okay.

    2018-06-20 · Decoder with Nilay Patel · Recode Decode: Tom Peters, management expert and author of ‘The Excellence Dividend’ · IDENTIFIED FROM THE TRANSCRIPT

  28. Well, the one thing that has happened, which is a fabulous thing, is nobody's dewey-eyed anymore. We don't every night get down on our knees in greater Boston and worship Silicon Valley. And that's huge. It's an attitude shift. I mean, I certainly agree that everything in the world is over-regulated, but there's got to be regulation for this, the same way there was from AT&T years ago

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  29. So, what happens? Because here's these companies that are supposed to be the most innovative, and you wrote about the most innovative companies early on. Is tech really the leaders anymore of the thought leadership? Or what do you imagine has to happen? Because they have created this enormous wealth, these enormous innovations, and they have practices that led to that. Where do you imagine it going?

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  30. Messenger. No, absolutely. Kind of thing. No, I think it's, and I'm not surprised that Tim looked at it in an antithetic fashion. And I'm afraid I'm not surprised that their comeback.

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  31. Analysis of what happened and what should happen, which was adult, which I felt was an adult, a great response, and super smart. Like here's the problem, here's what I do, here's what, you know what I mean? And he was, now obviously he has a different business model so he can. You know, he's the luxury of saying that. And instead of what was really interesting to me was instead of people going, okay, that was, that's a really smart thing to say. You're right. He was attacked by Mark and others about because Apple was expensive, whatever excuse they use. And to me, that was a really the response was more interesting than anything else because it said We don't take responsibility for what we're not listening to someone who's making a koja mark, and instead, our first impulse is to attack the messenger.

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  32. Oh, they do. Okay. They do. I think they're laughing from every country. That's a different thing. But I want to get back to this idea is that the abrogation responsibility is a mindset that to me doesn't breed innovation. You know what I mean? That it doesn't breed. And what was interesting is I did an interview with Tim Cook not long after this. And he said,

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  33. Or paragraph. He wouldn't have been evasive Plain English. I think one of the themes I've talked about for two years now is this evasion of responsibility or abrogation of responsibility. I think that's how I kind of put it because it's Rather irritating was we now see we take a broader responsibility. And I think when I said the ultimate bullshit sentence.

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  34. You would not have had one coincidental word sentence or paragraph. Packard felt that he was part of the United States of America. He felt that he had an obligation. And I'm not suggesting he would have blown his company up for God's sakes, but he wouldn't have been evasive. He would have spoken plain English.

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  35. But it's an evil world. We have to have weapons. So I'm not against weapons manufactured, but it felt purposeful. I don't think David Packard would have given, you know. That's the way I can describe it to you Mark Zuckerberg's testimony And David Packard's testimony on the same issue.

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  36. Coming out of Silicon Valley. And Route 101, which has so many of the big gangs today, was Lockheed Martin, Ford Vilco Ford. They were defense contractors, the average engineer was 43 years old and wore a pen protector. And the pace was a lot slower

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  37. He's a moral puddle. It was different. Because until Mr. Jobs. Incarnation number two, when he came back, there were zero consumer goods.

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  38. I am completely. It was my home. I only get to be here with you because in Silicon Valley, I lived with it. And I know it can just, it's maybe just the ravings of an old man. Oh, I like the ravings. Keep going. It's my bloody valley. Right, exactly. I had my office on 555 Hamilton Avenue, and I'm not trying to recap Bill and Dave going to Diana's or whatever the hell it was where we all went to.

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  39. Damn well jump into the middle of the fray. I don't give a shit what his net worth is. And I'm just rabbit on this topic. Keep going. He should have jumped in right into the middle of the fray. I'm not suggesting that he immediately should have gone to a fee model or what have you, but he could have stood up in front of his fellow Americans and said, Mia Kulpa, and we're really going to work on this stuff. And for God's sakes, you look at the things that are said still today, to this day. They're dodging it. They're completely dodging it. And even some of I don't know about Ms. Sandberg, but for God's sake, Eric Schmidt, who's supposed to be the adult supervision, but it's...

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  40. I agree with you in large part. Yeah, I mean, that's a strong word. No, it's a strong word to say moral. I go to New Zealand in the winter and we had a friend whose kid is who works in Silicon Valley. He said, my son calls it, calls Palo Alto now shallow Alto. Yeah, yeah. I mean, I'm sure it was the same damn thing with a cotton gin. Nobody could have predicted the implications. But what annoys me with the Zuckerberg testimony and so on is still this game of naivete. For God's sakes, I live in the United States until recently I was proud to tell people that somebody screwed with my country's elections. And they screwed with them because of the way these extraordinary tools were used. I don't think Zuckerberg could have predicted it, nor should have predicted it, but I think he could.

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  41. Well, first of all, as somebody who spent 30 years of his life working in Palo Alto, and I know the term is strong, with all the stuff with Cambridge Analytica and so on, I think it's become a moral cesspool. I will not go back in that. Tell me about that.

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  42. So, where do we fall short? What is happening and who's responsible for that? Because one of the things I talk about a lot is that these technology companies, Uber, whoever you want to point to, are creating these technologies that obviously you're going to, it may create more jobs, but it's going to displace a number. And there's nobody there thinking about it or caring. Neither one. And I'm not so sure it's their responsibility to do that. So how do we think about that when we don't know where these reports are coming out, where jobs are going, and what happens? How do you Figure out who should be the one to take the lead in this.

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  43. It is not new. And my wife and I have a sub-zero refrigerator and the compressor went out and the guy came to fix it and I chat with everybody. Here's a guy who I would guess is 40, 45 years old. He has a little utility company that helps do appliances, six people. He had just gotten back from a two-week training course that he had paid for out of his own pocket on the Internet of Things. And, you know, when refrigerators start ordering your stuff for you. So I think he's going to survive. And I think he's going to thrive. And I think there's a good chance that his six-person company will be a 16 person company. I am incredibly optimistic about people like that.

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  44. Terrified of the next. I mean, I'm 75. What the hell do I I believe that a 40 year old who is totally dedicated to re-education every single day of the year is gonna make it and is gonna flourish. And I think that they are going to flourish by being of value to some customer set for God's sake. It's not new.

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  45. You know, I'm a great fan of the two MIT guys, McAfee and Brinjoffson, who wrote a book, The Race Against the Machine. And they argue, and I was not particularly in favor of this at the beginning, that every time we've had a technology change, I can identify every single job by name, number, and serial number that we're going to lose, and I can't identify any of the new jobs that are going to be created because they haven't been created. And so I do think all it's this AI versus IA. Is it, you know, artificial intelligence or is it intelligence augmented? Will it be a tool or will it wipe us out? And I hope that we'll end up more on the intelligence augmented and I think I'm not.

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  46. They spell a very different workplace You've got to make it until tomorrow morning, and I've got to make it until tomorrow morning. And, you know, the dire ones, say 15 to 20 years. And one of my responses is, for Christ's sakes, we've got to meet the customer's needs in 2018 and 2019. I get that. Well, and my bias is, and I'm not alone in this, self-driving is incredible, but the number of state, local, and national regulations that have got the change to make it happen are staggering. That's kicking it down the road.

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  47. How do you have a bloody grocery store called Jungle Gyms and you're not allowed to call the guy Jim Bonamino? You have to call him Jungle and people coming from all over the world. Because he puts on a show You know, people love the Malcolm Baldridge National Quality Award. My favorite award on earth is the one that Jungle Gym won. And the award is called Best Restroom in America.

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  48. Well, I mean, I singled some things out for separate chapters that I pulled out. One of them at the top of the list, and I don't give a damn whether it's the age of AI or not, is training. Training, training, training, training, training, and more training. And, you know, to me, the odds of performing things that customers care about go up dramatically. You know, the way I put it is three-star generals and four-star generals talk about training 24 hours a day in the Army, the Navy, and the Air Force. In the typical company, it is a mid-level ho-hum job. Why? And so training is a huge part of it. When I have a section on leadership in the book, it starts out with a chapter on listening. It is really basic stuff and it will work, damn it.

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  49. And, you know, it's just crazy. Not hard nosed. Everybody needs a bank account. Yeah. And, you know, they thrive on dog friendliness. You cannot get out of the place without in their annual report a couple of years ago. We gave away, but it's totally human.

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  50. Listen, the guy who first I was going to dedicate the whole book to him is the lead story. It is this Commerce Bank, Metro Bank. All the big banks are cutting branches, getting rid of people. He has added 17,000 jobs in the so-called stuffy United Kingdom, 2,000 to 3,000 people show up for his branch openings. He trains his people incredibly well. The place is overstaffed. The branches are beautifully excitingly designed. I mean, I had the funniest thing. I sat in on an interview with somebody like you with him, and this person had come in from the outside, a Brit. And so he said, how do I get it? You know, he's supposed to be a hard-nosed member of the Fourth Estate. First thing he does is he asks Hill how he can open an account at the bank.

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