January 7, 2017

Big Mistakes in Business

What were the biggest mistakes high-tech leaders made in the past year? Here's what they said at Silicon Summit II:

  • Amazon.com founder Jeff Bezos: "Investing in Living.com, which isn't, and Pets.com, which is a dog."
  • Microsoft CEO Steve Ballmer: "Not always taking the patience we need on certain innovations."
  • Michael Bloomberg: "We didn't hire enough people."
  • Darien Dash, DME Interactive Holdings CEO: "We were impatient last year and we didn't just focus on getting our products out."
  • Sony CEO Howard Stringer: "We should have had 2 million more PlayStation 2's available before Christmas."
  • AOL Time Warner VP Bob Pittman: "Speed. ... We don't move quickly enough."
  • Yahoo! founder Jerry Yang: "Focus on the long term. I think people got reactive in this marketplace trying to see too much that wasn't there."
  • Gateway CEO Ted Waitt: "Trying to do too many different things and losing sight of the core basics it takes to make our customers happy."
  • Nancy Peretsman, Allen & Co.: "Not acting on what we knew to be true."
  • USA Networks CEO Barry Diller: "Not selling all the companies short represented here today, other than our own."

Silicon Summit II was held on March 11, 2001.

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