It's also the opportunity that new companies have, because they don't have the stuff that gets built up inside companies.
同时也是新公司的机遇,因为新公司的一切,都未成型。
But I was not worried because I still have more than half of the cash in my bank account.
但我并不担心,因为公司的银行账户上还有60多万美元。
That naturally hits monoline insurance companies more than multiline insurance companies because they are more specialized and more vulnerable.
它对单线保险公司的冲击,自然要大于多线保险公司,因为它们的业务更单一也更容易受到影响
There is no better time to start a new company or a new idea than a depression or recession because a lot of the management teams were being asked to leave.
金融衰退和大萧条是,建立一个公司或是发展一个新想法的最好时机,因为很多管理团队都被辞退了。
In a sense, though this is not literally true, that's where the money is because the studios and the large conglomerate television.
在某种程度上,尽管并不准确,传媒是能赚钱的,因为制片公司,和电视台会出钱。
And I found that that increases their knowledge and understanding of actually what the company does tremendously, because somebody comes in, presents for an hour, "Here's what we're doing in China."
我发现,这在很大程度上增加了,他们对公司的认识,因为某位董事会做一个小时陈述,这是我们在中国的业务“
So they are the quantities they produce, each of them produces, of an identical product.
也就是说每家公司的商品产量,因为他们生产的是同质的商品
I think it's a remarkable dynamic that Mark started this company in 2004 and that first generation the first nine or ten years of the Internet did not have a Facebook-like company that was thinking through it in a simple way.
我认为马克在2004年开办的这个公司的影响巨大,因为互联网初期的那代人用了九、十年,都没能创办一家像脸谱网一样的公司,能用简单的思维考虑问题。
They may swallow their doubts because they have a sense that it will improve the market for their shares.
对这些疑虑他们只有忍受,因为他们很清楚,公司上市会增加他们的市场份额
I shouldn't put down a name of a company because I can't reproduce this diagram for Microsoft.
我不应该用这个公司名,因为我没法重现它的数据
We didn't have a feasible business model, let's put it this way, because when we started, the business model is to provide the backend search technology to the portal companies in China.
或者说没有一个,可行的商业模式,因为公司成立初期的商业模式,是给门户网站公司,提供后台搜索技术。
Then you need, as well--you need government regulation because the insurance companies don't seem to exist without it.
此外,还需要有政府制定的相关法规,因为没有相关法规保险公司就不会存在
These are private companies--insurance companies--they're monoline because they look only at a certain class of risks and not all risks that they insure.
他们是私人保险公司,从事单线业务,因为他们只关注一类特定风险,而不是担保所有的风险
They're essentially more risky and more-- regulators have to watch them more because they're standing at higher probability- a monoline--of some major disaster.
单线保险公司风险更大,监管机构对其监管更严,因为他们遇到危机的,可能性更大
I did consider this sort of noble work because I think companies should honor their agreements.
我的确认为这算是一种高尚的工作,因为我认为公司应该履行它们的协议。
You could lose that because Goodbody & Company is going bankrupt; it doesn't have it anymore.
因为古德巴迪公司破产了,这部分钱将会损失,不再存在
All that is fine, it sounds good that managers should be given options because it will incentivize them to work for the benefit of the corporation.
这样不错,向经理人提供期权激励听起来不错,因为这样可以激励他们,为了公司的利益而努力工作
Congress had to make a distinction between these and corporations and it's kind of a subtle distinction because there are lots of corporations that own real estate.
国会必须把它和公司区分开来,这种差别很微妙,因为很多公司也持有房地产
The reason is that the best response for Firm 1, So it turns out it's pretty to check that this is the only Nash Equilibrium in the game.
因为公司1的最佳对策,所以很容易验证,这是此博弈中唯一的纳什均衡
We would like a model in which firms set prices because for the most part we think firms do set prices not quantities: Not always but for the most part.
我们想要的是一个由公司设定价格的模型,因为在大多数情况下,我们认为公司是设定价格而不是产量,虽然不总是如此,但大多数情况是这样
You have an incentive to say, because you're the equity holder, you have an incentive to say, hey why don't I just take some big gamble here and not tell anybody.
因为你是这家公司的股东,可能就有动力促使你这样想,我干嘛不来赌上一把呢,我不会告诉别人的
If you can do that well, no matter where you are in the org structure, no matter where you are in the company or organization, you're going to succeed because you're paying attention to the smallest things.
如果你在这方面可以做得很好,不管你在这个组织机构的哪里,不管你在公司或是组织的哪个位置,你就会成功,因为你,注意到了细小的东西。
I think it makes managing a growing company and a fast-paced movement very, very easy because there is basically one thing that you have to do.
我认为它让一个不断壮大的公司的管理,和快速发展变得,非常简单,因为你必须做一件事。
You say no. Actually, I have a better thing, you say, call Larry Paige and tell him he's fired because I realize I own the company.
你说不,我有个更好的注意,给拉里·佩奇打电话,说他被解雇了,因为公司是我的了
When we were taking 90% of dividends that was 90% of the stock market being taken by the government; but that's not all because we were also taxing the corporations.
当我们从股利中征收90%的税,也就是股票市场收益中的90%都被政府拿走,这还不算完,因为公司获得利润后也要交税
Boards always want to keep their price of a share up because if it starts to decline, the company could become a takeover target; it's viewed as a failure etc., etc.
董事们想将股价维持在高水准上,因为股价一旦下滑,公司很可能会成为收购目标,被人看做是决策失误等等
Well, I was actually very impressed of his demeanor because just by the fact that it was his genius that his film were still often ill-received by the production companies in America.
我确实被他风度倾倒,因为他的天才,他的电影并不被,美国电影公司接受。
Of course it's lowering your share of the company, but offsetting this is that the company is taking in money from the person who bought the shares and so it doesn't dilute you.
当然这会降低你对公司的控股,但补偿是公司增大了股本,因为人们购买股份,不会摊薄你的那份
It was--Modigliani and Miller said back then-- this was thirty or forty years ago-- that companies should really not pay dividends because dividends were then taxed at a higher rate than capital gains.
莫迪利阿尼和米勒说在那时候,大概30或40年前,公司不应分配股利,因为对股利征税的税率比对资本收益高
If you set up a company, you don't want to pay a dividend for a while because you need the money and you're reinvesting it in the company and people will understand.
如果开办一家公司的话,短期内你不会想发放股利,因为你需要将收益用来投资,人们会理解这一点
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