Hamilton Helmer

And it's a phenomenal business model.

Business strategy is how to find power, if you will, in what you would think of as a single defensible entity.

And corporate strategy is how you think about strategy in a multi-business unit corporation.

And the central problem of corporate strategy is...

why is one plus one greater than two?

In other words, is there any reason from a value point of view for two separate businesses to be under the same roof?

And there've been a variety of efforts in that.

If you go back in the days of GE, wildly diversified companies, there's a theory for a while that that was really a good thing that you get sort of these diversification benefits, turned out not to be true.

And so it's really that question of why is it that if you're in one thing, it makes sense or doesn't make sense to be in another thing.

And so again, think of Amazon, AWS.

Why is that interesting?

And the static part is one plus one is greater than two.

The dynamic part, and that's what our transforming discussion is about, is what is it about the business that you currently have

that is somehow useful in doing something else.

So you guys did the all wonderful episode on AWS demythologizing, but Amazon did have capabilities that made it not completely alien territory.

So I'll give you a quick intro to transforming kind of why we think it's interesting.

And then Cheney and I can sort of pull it apart a bit and you can ask questions.

So there are really three reasons that we think about this.

The first is that if you're interested in creating businesses, it's important.

And by important, I can give you a little data on that.