I'm talking about all companies.

He was a former CEO.

Try running a 40 billion industry.See how that makes you feel.

They don't take into account the public benefits of a free internet.

I mean, for instance, I've had to you know,

(Laughter)

Scott is an entrepreneur with much spirit of enterprise.

What we used to believe for strategy is that you start any company with an operating plan and a financial model.

Management practices at Japanese corporations are often very different from those at foreign companies.

For a business owner, having a clear overview of one's entire business is vital.

SM So, the scientific method I alluded to is pretty important.

He runs a company called Shanda, which is the largest computer games company in China.

And there we worked with leading CEOs on African issues, and African companies on turnarounds, making the companies not just the best in Africa but the best globally.

Tell us about what Benetech does.

By directing that industry, so that the industry in control of that individual actor in such a manner, as its produce may be of the greatest value, he intends only his own gain.

And in the 1980's we started to see something that had never been seen before.

Skillful management made a success of the business.

We can grade models, whether it's financial models in a business class or physical models in a science or engineering class and we can grade some pretty sophisticated programming assignments.

More and more Brazilians are doing and living this very story.

And of course, there's been economic growth in the West.

(Laughter)

Probably four.

He has the ability to manage a business.

Myself.

Managing it?

Partner.

The last area is profit itself.

Those other things are called non state actors.

We had to actually go into these companies and earn our return by fixing them by establishing management systems, by providing all that knowledge, how do you run a business on one side while they all know how to run, how to create content.

Many of you probably have never heard of this term.

They were partners?

Now the last interesting thing that's a holdover from thinking about startups as smaller versions of large companies is kind of the hardest to get your height around.

That's classified

Open 24 hours.

Management skills poor.

Danny runs the laser tag.

VAT can be found on every receipt and is transparent for everyone to see.

He has enough ability to manage a business.

(Laughter)

Commerce is our goal here at Tyrell.

But now, over this period of time, over 2008, 2008 happens.

A health food company.

Construction.

This place is closed, ladies.

It turns out that the title VP of Sales has a very different job spec in a large company that it does on a startup of VP and marketing does very different things in a large company than they do on a startup and for years, we could never explain why is it that incredibly competent executives who have been executing business models in large corporations collapse in startups when they're company is smaller than their administrative staff in their large corporation.