We have two pieces of regrettable news this year. First, Gladys Kaiser, my friend and assistant for twenty-five years, will give up the latter post after the 1993 annual meeting, though she will certainly remain my friend forever. Gladys and I have been a team, and though I knew her retirement was coming, it is still a jolt.

We tried make something much more holistic and simple. When you first start off trying to solve a problem, the first solutions you come up with are very complex, and most people stop there. But if you keep going, and live with the problem and peel more layers of the onion off, you can oftentimes arrive at some very elegant and simple solutions. Most people just don't put in the time or energy to get there.

But the market was changing. The industry was changing. The scale was changing. And in the end we knew we would be either the last company to make it or the first to not make it. We were right on the edge. We thought we would be the last one that made it, but we were wrong. We were the first one that didn't. We put an end to the companies that tried to do that. We certainly made our fair share of mistakes, but in the end I think we should have taken a bit longer to realize the world was changing and just gone on to be a software company right off the bat.

You know, Dr. Edwin Land was a troublemaker. He dropped out of Harvard and founded Polaroid. Not only was he one of the great inventors of our time but, more important, he saw the intersection of art and science and business and built an organization to reflect that.

We spent some time in our family talking about what's the trade-off we want to make. We ended up talking a lot about design, but also about the values of our family. Did we care most about getting our wash done in an hour versus an hour and a half? Or did we care most about our clothes feeling really soft and lasting longer? Did we care about using a quarter of the water? We spent about two weeks talking about this every night at the dinner table.

The problem is I'm older now, I'm 40 years old, and this stuff doesn't change the world. It really doesn't. That's going to break people's hearts. I'm sorry, it's true. Having children really changes your view on these things. We're born, we live for a brief instant, and we die.

I think the work speaks for itself. I don't think that people have special responsibilities just because they've done something that other people like or don't like. I think the work speaks for itself. I think people could choose to do things if they want to but we're all going to be dead soon, that's my point of view. Somebody once told me, they said "Live each day as if it would be your last and one day you'll certainly be right." I do that. You never know when you're going to go but you are going to go pretty soon. If you're going to leave anything behind its going to be your kids, a few friends and your work. So that's what I tend to worry about.