Insight
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…”
Opinion
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.”
Insight
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…”
Insight
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…”
Insight
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.”
Assertion Not checkable as stated
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…”
Insight
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.”
Insight
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…”
Opinion
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.”
Disclosure
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…”
Insight
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.”
Insight
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.”
Insight
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.”
Opinion
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.”
Disclosure
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.”
Insight
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…”
Assertion Supported
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.”
Insight
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…”
Insight
Dyson: Back the individual with enthusiasm over an established business
“The person who's just starting out, ok, he hasn't got a name yet, but he's probably incredibly enthusiastic and will put everything behind it and work all hours to make it work. So it's the person, not the business, really, that you're backing.”
Insight
Dyson: Losing a parent young builds an unusually high risk tolerance
“And also I think if you've lost a parent at that age life can't get much worse. So you're prepared to take risks because you've started from a horrible starting point.”
Disclosure
Dyson: Operating on the knife edge of danger does not cause anxiety
“Risk has become a sort of thing I need to live with. I need to live on the knife edge all the time... I still feel that today, yes. And it doesn't make me unhappy, don't get me wrong, but I like living for the moment in danger, because you're onto something ne…”
Assertion Supported
Dyson: Vacuum cleaners lose suction from pore clogging, not full bags
“And I suddenly realized that the suction is created by airflow, which has to go through the pores of the bag. But this fine dust is clogging the pores. It's not the fact the bag's full. It's the fact that the bag is clogged. They call it a bag full indicator. …”
Insight
Dyson: Engineers must build and test prototypes themselves to truly learn
“Because you, I, our engineers do their own tests and build their own prototypes because there's something funny about the process of actually making the prototype yourself that you learn, and when it fails, it may have been something you noticed as you were gl…”
Disclosure
Dyson spent £500 million on its cancelled electric car project
“Well, we spent about 750,000. A million. I keep working in pounds. Half a million. Half a billion pounds.”
James Dyson