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The common objection to seniority pay is, "It's rewarding dead wood!" My response is, "Why do you hire dead wood? Or why do you hire live wood and kill it?"
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To the man who only has a hammer, everything he encounters begins to look like a nail.
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Innovation has nothing to do with how many R&D dollars you have. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. It's not about money. It's about the people you have, how you're led, and how much you get it.
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