Learnings from David Neeleman, Founder of JetBlue
-at 23 started a travel agency, he lost everything. “always bolster your business with plenty of capital”
-at 34 sold second startup, Morris Air, to Southwest Airlines where he was fired after five months “always be your own boss”
-at 39 founded JetBlue. He was ousted by his board
-in 2008 he started Azul. Raised $235 million and invested $13 million of his own money
-”All of us have failures. What matters isn’t what happens to you in life. What really matters is how you react to it”
-how to succeed in airline business: “Have the best product. Have the lowest cost. And kill’em with frequency”
-Neeleman makes $200,000 a year with no stock options
-Herb Kelleher “Don’t think about shareholders. Think about crew members. The crew will take care of the customers. The customers will take care of the shareholders”
-”When things are going south, communication should increase” his mistake in dealing with JetBlue’s board
-He owns 15% of Azul but has voting control, so board can’t oust him. “I’ve set it up so I can’t get sucker-punched again”
-”The stock price doesn’t lie” regarding JetBlue -40% in three years