A short monologue by Larry Weidel (YouTube) arguing that successful, long-lived businesses rely on a small set of core principles and a resilient team to handle opportunities and unexpected disasters. He stresses building momentum so the company can roll through setbacks quickly, reducing long-term scars.
I vetted as closely as possible to get people who have been successful for over long periods of time because they have fundamentals and principles. You don't have to have a million of them, but you got to have a few of them to keep yourself on track and keep yourself doing the right things under all kind of situations. Some are opportunities presented to you. The other thing are disasters that drop out of the sky in your lap. But it's the same you that's got to deal with all of those kind of things. And so you want to build that in your team. And because sooner or later the disasters are coming and the bigger you are, the more straight and the most more momentum you have in the business, the more likely you are to be able to keep rolling through those things and come out the other side as quick as possible. And the faster you can get through disasters, the less likely you're going to be scarred by them.