Three Things Bill Gates Learned From Warren Buffett
Adam Rifkin stashed this in Warren Buffett
You can skip the first two things (a company needs a competitive advantage, and write regularly to your audience) because frankly those aren't useful to most of us.
The third thing he learned from Warren is the only important thing anyone can learn:
Know how valuable your time is.
No matter how much money you have, you can’t buy more time. There are only 24 hours in everyone’s day. Warren has a keen sense of this. He doesn’t let his calendar get filled up with useless meetings. On the other hand, he’s very generous with his time for the people he trusts. He gives his close advisers at Berkshire his phone number, and they can just call him up and he’ll answer the phone.
Although Warren makes a point of meeting with dozens of university classes every year, not many people get to ask him for advice on a regular basis. I feel very lucky in that regard: The dialogue has been invaluable to me, and not only at Microsoft. When Melinda and I started our foundation, I turned to him for advice. We talked a lot about the idea that philanthropy could be just as impactful in its own way as software had been. It turns out that Warren’s brilliant way of looking at the world is just as useful in attacking poverty and disease as it is in building a business. He’s one of a kind.
Great, so Bill Gates wrote to his audience that his competitive advantage is that Warren Buffett will regularly give him advice when he needs it.
That's so not actionable as to be useless. It's not inspiring and it's not profound.
So I do have one takeaway: BE PROTECTIVE OF YOUR TIME.
Because you aren't getting more of it.
No matter how much money you have.