Hamilton Helmer

And I'm going to just give you a quick take on what I mean by transforming.

When I laid this topic out to the two of you, I said that if you're thinking about increasing value in a company, there are sort of two questions.

What can I do better and what can I do next?

And you spend most of your time on, as you should, on what can I do better?

So you think of Amazon developing a better search engine when you look for a product.

You've got to think about that, right?

And that's most of your time.

But then you also think about, okay, well, what can I do next?

And that's what transforming is.

And that would be Amazon going into AWS.

And you can imagine thinking about whether to do AWS is a very different exercise than optimizing the search engine.

So transforming is sort of a separate topic.

A fundamental thing in strategy is a thing called business definition, which is what really are the boundaries of your current business?

Yeah, coming back to the very first conversation about why we did this in the first place is that the point Chen Yi just made is the fundamental one, which is that creation of economic value is pretty orthogonal to capturing some of that value for yourself, which is to say the creation of company value.

So creation of economic value and the creation of company value are different animals.

And both are important.

And there's a dynamic connection in the sense that if you create economic value, it sort of creates the opportunity to think about capture and so on.

But just a single slice in time, they're very different.

But that's a fundamental point about all this.

Yeah, and so I'll just say how power kind of helps you out in a way.