Michael Bloomberg

Forbes - - CON­TENTS -

DOER: FIN­TECH AND ME­DIA PIONEER; SO­LU­TIONS-ORI­ENTED MAYOR; PHI­LAN­THROPIST

Iwas fired from Salomon Broth­ers in 1981 in part be­cause no one at the firm thought much of my idea for com­put­er­iz­ing fi­nan­cial data and anal­y­sis and pre­sent­ing it in real time. Back then, most fi­nan­cial pro­fes­sion­als didn’t know how to use a com­puter, much less have one on their desk.

Or­ga­ni­za­tions re­sist in­no­va­tion—and those that do in­evitably fail—be­cause peo­ple are more com­fort­able with what they know than with what they don’t. Look­ing be­yond the hori­zon and tak­ing risks have al­ways been a core part of our com­pany’s cul­ture, which we brought to New York’s city hall and worked hard to spread through­out city govern­ment.

In both the pub­lic and pri­vate sec­tors, in­no­va­tion re­quires hir­ing smart, cre­ative and driven peo­ple, em­pow­er­ing them to take risks and stand­ing be­hind them—in a pub­lic way—when things don’t go as hoped. The big­gest man­age­ment fail­ures in both busi­ness and govern­ment are not missed tar­gets but missed op­por­tu­ni­ties.

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