What are you unwilling to optimise?

When you’re a carpenter making a beautiful chest of drawers, you’re not going to use a piece of plywood on the back, even though it faces the wall and nobody will ever see it. You’ll know it’s there, so you’re going to use a beautiful piece of wood on the back. For you to sleep well at night, the aesthetic, the quality, has to be carried all the way through.

I notice that if you have the door to your office closed, you get more work done today and tomorrow, and you are more productive than most. But 10 years later somehow you don't know quite know what problems are worth working on; all the hard work you do is sort of tangential in importance. He who works with the door open gets all kinds of interruptions, but he also occasionally gets clues as to what the world is and what might be important.

I don’t think of it as research. I read for interest and enjoyment, and when I cease to enjoy it I stop. I didn’t research quantum mechanics but I was fascinated by the mystery that lies in the foundation of the observable world, of which the most familiar example is the wave/particle duality of light. I thought it was a good metaphor for human personality. The language of espionage lends itself to this duality—think of the double agent.

Charlie and I decided long ago that in an investment lifetime it's just too hard to make hundreds of smart decisions. That judgment became ever more compelling as Berkshire's capital mushroomed and the universe of investments that could significantly affect our results shrank dramatically. Therefore, we adopted a strategy that required our being smart - and not too smart at that - only a very few times. Indeed, we'll now settle for one good idea a year. (Charlie says it's my turn.)

It went from publisher to publisher to publisher. All of them refused it. They gave the same reasons, until a small publisher picked it up. From 1960 to 1963, three years, it didn’t sell 1500 copies. Nobody wanted to read it. It doesn’t matter. I am not here to sell, I’m here to write.

It’s easy to try to exaggerate the problems just to get more attention. So for me, it was very clear that the best way to deal with that was to do the best science that I was capable of doing.

I’ve had this concern all the time, but I can only hope that if one writes with appreciation and delicacy and respect, then it’s okay. I have to say that I’ve written a hundred times as much as I’ve published, because if there’s any thought of offense or embarrassment, then I will put the thing quietly away.

Well, that’s the optimistic reading of it, which you are never able to apply when it happens. You can read it this way when it’s over. Rationally speaking, it’s a period that’s needed, because the danger for every poet, I think, is to write too much. So these are the blessed moments of silence, protecting you from writing too many poems, diluting you and what you have to say in a stream of banal poems. It’s necessary, but still very painful, because I just don’t know what to do if I don’t write poems. I still survive, but it is painful.

They were blocked in their minds to do this because they thought, oh this is not done, we don’t do that in our field and you can’t do that, and I said: Why not?

I'm not going to be dieting or trying to lose any weight, because I want to be as strong as possible.

That’s a very good question. I think I’m a very lazy writer and by that I mean that I do not battle, I don’t struggle too hard against it. If I have difficulties in the writing, I just go and do other things. I don’t feel a compulsion to write. Of course, when I start writing then it becomes a compulsive activity, because I’ve begun something and I want to continue, want to finish it. … I know there are other writers who sit down religiously every morning, they take their espresso, they put a clean sheet of paper there and they sit looking at that paper until they’ve finished or covered at least a number of those pages. No, I’m not like that. I have to be ready. It has to gestate it for quite a while and then it’s ready to burst forth.

The highest form that civilization can reach is a seamless web of deserved trust. Not much procedure, just totally reliable people correctly trusting one another. That's the way an operating room works at the Mayo Clinic. If a bunch of lawyers were to introduce a lot of process, the patients would all die. So never forget, when you're a lawyer, that you may be rewarded for selling this stuff, but you don't have to buy it. In your own life, what you want is a seamless web of deserved trust. And if your proposed marriage contract has forty-seven pages, my suggestion is you not enter.

I don't enjoy it but I know that I have got to live with [myself] if I'm not going to give it 100 per cent. The key thing is getting to the start line and knowing that I couldn't have done any more, that I didn't back off. You accept the pain, because if you didn't there would always be that element of doubt.

Proceed slowly and take care. […] To ensure that you proceed slowly, write by hand.

We also believe in straight-talking, telling it as it is, using simple language that people understand, telling people about the downsides as well as the potential upsides, and even telling the bad news that no one wants to utter, like our lack of belief in the sustainability of the Icelandic financial sector that already we had months before the collapse hit us.

I’m just practical. Life comes first for me; art second. Sometimes art comes even later than second.

Do you have a big visionary master plan for how the world will work in twenty years? Do you have massive ambitions to revolutionize your industry? Don’t feel bad if you don’t. I never did. A year and a half after starting CD Baby, it was just me and John, my first employee, running it out of my house. One night, I decided I should think more about the long-term future of this thing. I sat with my diary for a few hours of introspection. Afterwards, I wrote John an email that went like this: “I think there’s a chance that this thing might be huge one day, so we better start preparing for that now. I mean some day, we might have a thousand artists. We might need a third employee! We’d need three computers, and need to figure out how to network them together. We might even need to start moving CDs into the garage, since eventually they might fill up the living room. Yes, I know it sounds grandiose, but I think things are headed that way.” Years later, after I had 100,000 artists and 85 employees, John would often get a good laugh out of this letter I sent him in 1999. Journalists would ask, “What’s your long-term goal?” I’d say, “I don’t have one. I surpassed my goals long ago. I’m just trying to help musicians with whatever they need today.” So please don’t think you need a huge vision. Just stay focused on helping people today.

There are some things about being president that I still have difficulty doing. … For example, faking emotion. Because I feel it is an insult to the people I'm dealing with. For me to feign outrage, for example, feels to me like I'm not taking the American people seriously. I'm absolutely positive that I'm serving the American people better if I'm maintaining my authenticity. And that's an overused word. And these days people practice being authentic. But I'm at my best when I believe what I am saying.

I tend to shape my life through aesthetic principles rather than economic ones – I’ve never been very good at maths.

So we'd say things like, let's agree that you're going to sell 57 widgets per week. If you sell them by Wednesday, please go to the beach. Don't create a problem for us, for manufacturing, for application, then we have to buy new companies, we have to buy our competitors, we have to do all kinds of things because you sold too many widgets. So go to the beach and start again on Monday.