“He was the first person to really ask me about software, and software pricing, and why wasn’t IBM with all of their strength able to overwhelm Microsoft. What was gonna happen in terms of how software would change the world?”
—Bill Gates
David Rubenstein Talks to Bill Gates
This morning I found out about a brand new interview series available via Bloomberg called the David Rubenstein Show. The first episode was broadcast on October 17, 2016, and contains and interview with Bill Gates.
Over at the Bloomberg site the show is described in the following way.
“The David Rubenstein Show: Peer-to-Peer Conversations” explores successful leadership through the personal and professional choices of the most influential people in business. Renowned financier and philanthropist David Rubenstein travels the country talking to leaders to uncover their stories and their path to success. The first episode features Microsoft co-founder Bill Gates. (Source: Bloomberg)
The interview is about 25 minutes and is time well spent. To be honest, there’s not much of news here. But, listening to Bill is usually very interesting. Topics discussed range from Microsoft, Harvard, bridge, Warren Buffett, and philanthropy, among others.
I have transcribed the part of the interview where Bill talks about his relationship and friendship with Warren Buffett. This part starts at about fifteen into the interview and goes on for about 3-4 minutes.
DAVID ROSENSTEIN: When your mother first said: “I’d like you to come and have dinner with me, and Warren Buffett will be here. You should meet him.” You didn’t seem that interested. Why was that?
BILL GATES: Warren, I though was somebody who bought and sold securities which is a very zero-sum thing. That’s not curing disease or cool piece of software. And the idea you know of looking at volume curves, it doesn’t invent anything. So I thought my way of looking at the world, what I wanted to figure out and do to what he looked at, it wouldn’t be much intersection. And that’s why it was so shocking when I met him. He was the first person to really ask me about software, and software pricing, and why wasn’t IBM with all of their strength able to overwhelm Microsoft. What was gonna happen in terms of how software would change the world? And, you know, he let me ask him about why do you invest in certain industries, and why are some banks more profitable than others. Yet, he was clearly a broad systems thinker. And so it started a conversation that has been fun and enriching. You know, an incredible friendship that was completely unexpected.
DAVID ROSENSTEIN: He taught you how to play bridge or did you already know?
BILL GATES: I knew how to play bridge but I hade done it just… our family had done it. And then because it was a chance to spend time with Warren I renewed my bridge skill, at first really poorly. But both golf and bridge were things that we did in our hours that we got to goof off together.
DAVID ROSENSTEIN: You’ve given up on golf?
BILL GATES: Well, Warren gave up on golf a few years ago. So my primary excuse to play golf has gone away, so I’m golfing not much now. Tennis has become my primary sport.
DAVID ROSENSTEIN: Warren Buffett called you one day and said: “By the way, I’m gonna give you most of my money.” Were you surprised when he said he wanted to give you all his money from his wealth to your foundation?
BILL GATES: That was a complete surprise because Warren is the best investor, and he’s built this unbelievable company, and he was giving me advice about all the things I was doing. I was learning so much from him. But his wealth was devoted to a foundation that his wife was in charge of. And so tragically she passed away, and so then he had to think that his initial plan wouldn’t make sense. And much to my surprise he decided that a part of his wealth, a little over 80 percent would come to our foundation. So it was a huge honour, a huge responsibility, and an incredible thing because it let us raise our level of ambition even beyond what we would have done without that. You know, by most definitions, the most generous gift of all time.
Click here to see the whole interview.
Book Recommendation: Business Adventures, by John Brooks
Hurricane Capital 