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Quote by Joseph A. Schumpeter

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Joseph A. Schumpeter
Joseph A. Schumpeter

Joseph A. Schumpeter was a renowned economist known for his research on innovation and entrepreneurship. His theories have had a profound impact on modern economics. more

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“Well, one time some attractive woman sat next to Charlie and asked him what he owed his success to, and, unfortunately, she insisted on a one word answer. He had a speech prepared that would have gone on for several hours. But when forced to boil it down to one word, he said that was "rational". You know, he comes equipped for rationality, and he applies it in business. He doesn't always apply it elsewhere, but he applies it in business and that has made him a huge business success.”

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“Situations in life often permit no delay; and when we cannot determine the course which is certainly best, we must follow the one which is probably the best. This frame of mind freed me also from the repentance and remorse commonly felt by those vacillating individuals who are always seeking as worthwhile things which they later judge to be bad.”

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“People like the robber barons assumed that the doctrine of the survival of the fittest authenticated them as deserving power. You know, "I'm the richest. Therefore, I'm the best. God's in his heaven, etc." And that reaction of the robber barons was so irritating to people that it made it unfashionable to think of an economy as an ecosystem. But the truth is that it is a lot like an ecosystem. And you get many of the same results.”

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“Smart tech investor thinks about: a) future product roadmap, b) bottoms-up market size & growth, c) talent and skill of team. Essentially you are valuing things that have not yet happened, and the likelihood of the CEO and team being able to make them happen. Finance people find this appalling, but investors who do this well can make a lot of money.”

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Author:Marc Andreessen
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