David Packard: Profit Stockholders

Meaning of David Packard Money Quote: saying a business has to do more than to be profitable – it owes employees a debt. David Packard said:
 

 

“A company has a responsibility beyond making a profit for stockholders; it has a responsibility to recognize the dignity of its employees as human beings, to the well-being of its customers, and to the community at large” — David Packard

In this quote, David Packard seems to be expressing the view that businesses have ethical and social responsibilities that extend beyond just maximizing profits for shareholders. He argues companies should also recognize the inherent worth and dignity of employees as human beings with needs beyond their jobs.

Additionally, Packard believes businesses have a responsibility to consider the well-being of customers by producing quality products, and to give back to the broader community in some way.

This suggests Packard advocates for a concept of corporate social responsibility where companies acknowledge obligations to stakeholders like employees, customers and society, not just shareholders. He implies this holistic perspective is important for businesses to have a positive impact beyond the bottom line.

Birthday: September 7, 1912 – Death: March 26, 1996

Charles Duhigg: Patent Lawsuits

Meaning of Charles Duhigg Money Quote: saying startups must protect against patent trolls by creating a fund to defend against them. Charles Duhigg said:
 

 

“It almost goes without saying that when you are a startup, one of the first things you do is you start setting aside money to defend yourself from patent lawsuits, because any successful company, even moderately successful, is going to get hit by a patent lawsuit from someone who’s just trying to look for a payout” — Charles Duhigg

In this quote, Charles Duhigg seems to be conveying that startups should anticipate and budget for the likelihood of facing patent lawsuits from those seeking to profit through litigation rather than legitimate patent disputes. Some key points:

• Duhigg states that setting aside money for potential patent lawsuits is something startups should do almost immediately as a precaution.
• He notes this is because even moderately successful companies will “get hit by a patent lawsuit from someone who’s just trying to look for a payout” – implying opportunistic litigation not aimed at enforcing valid patents.
• The quote implies that as startups achieve traction or revenue streams, they become targets for lawsuits intended to extract settlements from companies, not protect legitimate intellectual property.

Overall, Duhigg appears to be advising startups to prudently plan and budget for the virtually inevitable prospect of dealing with nuisance patent lawsuits aimed at generating payouts through legal pressure rather than addressing real infringement concerns, according to his perspective gained from experience with such predatory litigation practices targeting companies once they attain a certain scale or profile. Being prepared financially is important given this risk environment according to the view conveyed.

Earl Wilson: Meter Made Money

Earl Wilson Money Quote saying that brilliant Ben Franklin invented electricity generation, but the guy who measured and metered it got rich. Earl Wilson said:
 

 

“Ben Franklin may have discovered electricity – but it is the man who invented the meter who made the money” — Earl Wilson

In this quote, Earl Wilson is pointing out that while Benjamin Franklin made an important scientific discovery by identifying electricity, he did not financially benefit from it directly. It was the inventor of the electricity meter, the device that could measure and bill for electricity usage, who truly profited and “made the money” from Franklin’s discovery.

Wilson is suggesting that having a pioneering scientific or technological idea is not always enough on its own to achieve great wealth – it often requires taking that innovation a step further and devising practical applications or business models to monetize the discovery, as the meter inventor did in capitalizing on the new availability of electric power.

The quote emphasizes how the commercial development and implementation of an invention can be just as important as the original concept in terms of reaping financial rewards.

Birthday: May 3, 1907 – Death: January 16, 1987

David Hume: Commerce Exchange

Money is not one of the subjects of commerce; but only the instrument which exchange of one commodity for another. David Hume said:
 
 

 

“Money is not, properly speaking, one of the subjects of commerce; but only the instrument which men have agreed upon to facilitate the exchange of one commodity for another” — David Hume

In this quote, David Hume is making an observation about the role and function of money in commercial exchange. The best interpretation is:

• Hume states that money itself is not actually one of the goods or “subjects of commerce” that are directly bought and sold.
• He describes money as simply an “instrument” or tool that societies adopt to more easily enable the trading of real commodities between parties.
• Hume implies that at its core, commerce is about the exchange of material products and services, not money, which acts as a lubricant making these trades more practical.

Overall, Hume appears to be suggesting that money’s true purpose is as a facilitator for efficient barter, rather than being an end in itself. It provides a standardized medium that allows actual commodities and services to change hands, but is not itself one of the subjects being exchanged according to Hume’s perspective.

Birthday: May 7, 1711 – Death: August 25, 1776

Simon Sinek: Primary Incentive

Simon Sinek Money Quote saying let someone rebuild or reinvent a business and incentive will be the challenge, not the money. Simon Sinek said:
 

 

“Offer someone the opportunity to rebuild a company or reinvent an industry as the primary incentive, and it will attract those drawn to the challenge first and the money second” — Simon Sinek

In this quote, Simon Sinek seems to be making an observation about what types of opportunities and incentives tend to appeal most to different kinds of individuals. Specifically, he suggests that:

• Offering someone the chance to completely rebuild/transform an existing company or entire industry from the ground up will primarily attract those drawn first and foremost to the challenge, difficulty and sense of accomplishment such ambitious undertakings represent.
• For these types of innovators and visionaries, the prospect of financial reward is a secondary motivation compared to the allure of tackling a massive undertaking that will truly test their skills and push the boundaries of what’s possible.

The best interpretation is that Sinek believes opportunities centered around disruption and reinventing established entities on a grand scale will attract entrepreneurs, leaders and problem-solvers who prioritize the thrill of immense challenges over immediate monetary gain. For these individuals, money is not the primary driver or incentive in the same way it may be for others according to Sinek’s perspective.

John Madden: Pay Pass-Through

John Madden Money Quote saying all costs are eventually covered by the consumer and sports is paid for by fans. John Madden said:
 

 

“Sports has always been a pass-through. You pay for something, and then you pass it through to television, you pass it through to advertisers, or you pass it through to season-ticket holders, luxury boxes and then the fans. Then it all adds up, and you take in more than you pass out” — John Madden

In this quote, John Madden seems to be outlining how the sports industry generates revenue through various revenue streams that work interdependently. Specifically:

• Madden notes that sports leagues and teams “pass through” their product (games, content, IP rights etc.) to different parties like TV networks, advertisers, and fans.
• This passing through allows monetization through mechanisms like TV rights fees, advertising dollars, ticket/merchandise sales, luxury suites and more.
• He suggests that through the various revenue channels that work together, the total money “taken in” from this pass-through model ends up exceeding the original “out” costs to produce and run the actual sporting events and operations.

The best interpretation is Madden is describing the business of sports as a system where content is circulated to and monetized by multiple parties in a way that cumulatively generates profits beyond just the costs of putting on games and running the franchises according to his perspective on the industry’s revenue dynamics.

Birthday: April 10, 1936 – Death: December 28, 2021

ProtonMail: Social Media Revenue

Since the apple App Store allowed users to decline data tracking by apps – nearly 70% choose not to allow and cost social media billions. @ProtonMail said:
 

 

“Social media giants lost nearly $10 billion in revenue since April because users chose not to be tracked across apps. Almost makes you think they mine personal data for profit or something” — @ProtonMail

In this quote, the privacy-focused email provider ProtonMail seems to be subtly criticizing large social media/tech companies that rely on collecting user data for targeted advertising revenue. Specifically:

• ProtonMail notes that from April to present, giants like Facebook/Google lost around $10 billion collectively due to Apple’s anti-tracking changes in iOS.
• This implies users value privacy enough to opt-out of cross-app monitoring when given a choice, costing these firms major ad income.
• ProtonMail then sarcastically suggests that maybe, just maybe, these companies “mine personal data for profit” – a clear jab that data harvesting is their primary business model.

The best interpretation is ProtonMail is taking a dig at tech platforms by pointing out the massive financial impact of even minor constraints on user data collection. The quote aims to underscore these firms’ overwhelming reliance on mining personal profiles to fuel ad sales and question whether user privacy or profits ultimately drive their behavior, at least from ProtonMail’s skeptical perspective on their data-based operations and incentives.

Social media giants lost nearly $10 billion in revenue since April because users chose not to be tracked across apps. Almost makes you think they mine personal data for profit or something.

— ProtonMail (@ProtonMail) November 1, 2021

Google: We’re Banning Payday Loan Ads

David Graff, Director Global Product Policy at Google Money Quote saying payday lending search ads are being banned as of July 16, 2016. Google said:
 

 

“We’re banning ads for payday loans and some related products from our ads systems. We will no longer allow ads for loans where repayment is due within 60 days of the date of issue” — David Graff, Google

In this quote, David Graff of Google is announcing a new policy regarding payday loan ads on their platforms. Payday loans are short-term, high-interest loans intended to bridge a cash flow gap until a person’s next payday.

However, they are often criticized for trapping borrowers in long-term cycles of debt due to the quick repayment timeframes. Graff says Google will no longer allow ads for loans where the full amount is due within 60 days, which would include most payday loans.

His statement implies Google views these types of short-term, high-interest loans as predatory towards financially vulnerable consumers. By banning ads for them, Graff seems to aim to curb predatory lending practices and protect people from the risks of unaffordable payday loan terms that can lead to prolonged debt cycles.