Immelt: No other leadership team on earth could have saved GE in 2008
Jeff Immelt · 20VC: Jeff Immelt on Leadership Lessons from 16 Years as CEO @ GE, Incumbent Innovation; Why Some Have Failed and Other Succeeded, When Boards Have A Positive vs Negative Impact on a Company & The One Fear Startup Founders Are Allowed To Have · Jul 22, 2021 · at 23:32
Former GE CEO Jeff Immelt defends his management team's response to the 2008 financial crisis despite widespread public and media criticism.
0:00 / 0:07exact quote · 8.0s
720p mp4 · rendered on demand · StarZero watermark
“We made it to shore, we saved the company, we preserved the businesses, and I would say to people, look, no other team on earth could have done what we did.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Jeff Immelt
Immelt: Investor board input is often selfish and harms the company
“Some of the input you're getting is really selfish by the investors from their perspective, but not good for the company.”
Immelt: GE should have partnered with Salesforce or Microsoft for software
“Here's what I would have done differently, you know, Harry, in all honesty, I've had four years to think about it, is I would have either bought a part of a startup company or done a joint venture with maybe salesforce.com or Microsoft and created a new co, cr…”
Immelt: Musk, Bezos, and Benioff are not good listeners
“I guarantee you that if Elon Musk or Jeff Bezos or Mark Benioff ever did a review, a three 60, the people around them aren't saying they're really good listeners. There's a lot of people say, They didn't listen to it, but they are listening, right? They are li…”
Immelt: In 2000, General Electric felt a lot like Amazon
“Back in the year, 2000, GE felt a lot like Amazon.”
Immelt: I failed to change GE's culture fast enough for digital
“Where I failed was I couldn't change the culture fast enough to grab, you know, kind of the next wave of digital technologies.”
Immelt: Listening to everyone creates as much trouble as not listening
“They teach them, like, listen to everybody. Everybody's right, you know, and if you listen to everybody, things are going to be great. That's not true, right? What's true is you can get as much trouble by listening, also in the same way trouble by listening to…”