Culture is not like a mission statement; you can’t just set it up and have it last forever. There’s a saying in the military that if you see somethin… - Ben Horowitz

As already noted, courage is particularly important, because every decision that a CEO makes is based on incomplete information. At the time of any given decision, the CEO will generally have less than 10 percent of the information typically present in the post hoc Harvard Business School case study. As a result, the CEO must have the courage to bet the company on a direction even though she does not know if the direction is right.

Note to self: It's a good idea to ask, 'What am I not doing?'

People offer many complex reasons for why Bill rates so highly. In my experience it’s pretty simple. No matter who you are, you need two kinds of friends in your life. The first kind is one you can call when something good happens, and you need someone who will be excited for you. Not a fake excitement veiling envy, but a real excitement. You need someone who will actually be more excited for you than he would be if it had happened to him. The second kind of friend is somebody you can call when things go horribly wrong — when your life is on the line and you only have one phone call. Who is it going to be? Bill Campbell is both of those friends.