Mr. Gates wanted Mr. Buffett’s input on whether to drop options in favor of restricted stock at Microsoft. [Gates] recalls asking: “How will employees respond to getting a lottery ticket that gives them a definite amount instead of one that could amount to nothing or a ridiculous sum?”
Mr. Buffett’s reply, according to Mr. Gates, was: “My wife would rather have a ticket for one fur coat, than a ticket that gave her two or nothing.”
I think I’m going to spend quite a bit of time reading this blog. I figure if you want to know what goes on in the mind of a guy who’s seen the big time, Marc Andreessen’s blog is as good as any.