Everything James Dyson said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Dyson: Experienced hires from existing companies bring habits that resist change
“The older you get, the more you try to apply your experience. And if you've come from an existing company, we may have picked up bad habits. I'm not saying we don't have bad habits at Dyson, but I'm saying you picked up the habits of that company, which may no…”
Dyson claims he learned absolutely nothing from his £500M EV failure
“One of the, everybody said, you know, you must have learned a lot from that experience, and the answer is I learned absolutely nothing.”
Dyson: Using personal debt is better than taking equity investors
“The real thing I learned is that it's much better to put your own money in. I didn't have any money, I borrowed it, but I was, it was money that had been given to me by a bank, so it was my money, even though I was on the line for it, and my wife had to sign t…”
Legacy carmakers subsidize EVs to offset emissions for high-margin gas SUVs
“They were selling them at a loss for a complicated reason. Car manufacturers' emissions, which are controlled by law, are based on their overall emissions from their range of cars. So if they had- ... So if they had a model which didn't emit anything, they cou…”
Dyson: Marketing should sell products, not decide features or pricing
“Marketing would get on selling things, not decide what product should be or how much it should be sold for.”
VCs rejected Dyson's pitch, preferring to invest in fast food instead
“I went to various venture capitalists, the sort of people who ought to lend to startups, and the kind of response I got was well, you know, it's not a very interesting area. We're investing in restaurants, fast food restaurants at the moment, or we're not lend…”
Innovative products succeed when their core advantages completely outweigh early trade-offs
“Not everything is always perfect about something which makes progress and eventually you overcome the problem, but so not everything is better. Sometimes not everything is better, but the good overcomes the bad. It's much better than the bad.”
Dyson: Dyson Institute has higher first-class honors rate than any UK university
“And by the way, we have a higher percentage of first-class honors than any other British university.”
Dyson: Naive engineers drive more innovation than experienced professionals
“If you're experienced, you know how, why not to do something, or how not to do something. Whereas if you're naive, and you're a young engineer, you're disqualified, or you're still training, you don't have that negativity towards certain things. And often it's…”
Dyson: Traditional universities are inefficient by teaching only half the year
“And it's ridiculous because they're only taught for half the year. The rest of it is holidays. So you've got these big institutions, expensive institutions, with people only there part-time. It's madness.”
Dyson: Dyson Institute pays 170 undergraduate engineering students $45,000 annually
“Yes, there's tuition. We teach them two days a week. And they work with us three days. We pay them. They pay them 45,000 dollars a year. They have cars. They go on skiing holidays. Those are normal people. They're not students. They're in a student group. We h…”
Dyson: Founders should avoid operating seasonal businesses
“So you, you've got to employ people during the winter when you don't need them, and then the summer you need more people. It, it's just a horror, seasonal business is a horrible business. Avoid seasonal business.”
Dyson: Early ideas are fragile, making conventional experts dangerous to innovation
“At that point, you're right to focus in on that moment because ideas are so fragile. And they're easily knocked away by anybody. Everybody. It's why experts are dangerous.”
Dyson: Relentless experimentation reliably unlocks accidental breakthroughs
“Because if you're doing enough experiments you're trying to be logical what you're doing, but sometimes something occurs that's not logical. And it works. So you've just got to keep trying. Luck will happen to you.”
Dyson: Western nations are losing manufacturing because culture disdains manual labor
“I think that's why we've lost, as countries, the ability to make things. Manufacturing is vanishing. From manufacturing made America great, it made Britain great.”
Dyson refuses to sell motors to third parties despite lost profits
“It's not a good commercial decision that, by the way, the one I've taken. Because I could have a division that dealt with other people, supply matters to other people, which I'm sure would make money.”
Dyson: Intuition is the synthesis of 100,000 experiences, not guesswork
“It's partly intuition, but I don't believe in intuition is feeling or guesswork.
Oh. I think.
The intuition is much more interesting because it's all sorts of influences.
It could be history.
It could be all sorts of things that form an opinion.
That, that you…”
Dyson bought out Jeremy Fry's 49% stake for £45,000
“He just said, I hate lawsuits, and my financial advisor thinks the vacuum cleaner's going nowhere, and he owned 49% of the business.
So what'd you buy an hour for?
I bought him out.
45,000 pounds.”
Dyson: VCs rejected him because they would not fund an engineer
“I went to venture capitalists and the people, I suppose, who ought to have lent the money, but they wouldn't, because they said, we're not lending it to an engineer.”
Dyson: Competing on price is flawed compared to performance and durability
“Everything was sold on discount and price. And I thought that was wrong. I think, you know, that, that's well, it, it's boring for a start if it's, if you're looking at his price rather than looking at specification and how things perform. And I think performa…”
Dyson: Technology capabilities determine new product categories, not business decisions
“It's always usually the technology that, Decides that we should go into a certain product area. It's not a business decision.”
Dyson: Small-scale EV startups pay 30% to 50% more per component
“If you're a new manufacturer starting up small scale, you're paying 30 to 50% more for each component than an established manufacturer. So even, even your specification might not be better, it's going to cost you 30 or 50% more, and you can't survive doing tha…”
Dyson: Innovation teams need far more naivety than experience
“You need that mixture, but you need a lot more of the naivety and very little of the experience. If you have too many experienced people, the sort of general mood is one of doing things in the ordinary expected way.”
James Dyson: Failure is more instructive than success because it prompts questioning
“And actually, if you learn that failure is so much more interesting than success, Because failure, you question it. Well, why did it go wrong? And actually, the reason it goes wrong is often very, very interesting. When something works, you say, great, that wo…”