End of an Era

With the recent retirement of Bill Gates on July 1st, Microsoft is left with a lasting impression of their co-founder. As with all CEOs and Presidents of companies, there comes a time where a new era must begin. His job was to make his entire executive team good enough to be successors. Ironically, the post-Gates era has actually already begun. Gates spent a full decade executing a painstaking succession plan. Mostly he did it by progressively passing business leadership to colleagues and other high profile employees. Two years ago Gates publicly announced he would be leaving by saying, “I’ve been number two, I haven’t been the decision-maker on anything.” He trusted his colleges and successors to run his company under his watchful eye and then, like a child riding a bicycle for the first time, he let go to watch.

Even though Gates is at the end of one era he is beginning another. He is directing his efforts towards more altruistic pursuits by funding the Bill & Melinda Gates Foundation. Unlike most benefactors, he doesn’t merely want to eradicate malaria and AIDS; he wants to understand the nuances of immunology. He wants to learn about what happens on a molecular scale when a plant’s genes are altered to improve hardiness. Of course, his efforts will be generously funded with the help of long-time friend, Warren Buffett, who will donate a large portion of his fortune to their foundation. Buffett’s advice has had a major influence on Gates business perspective. The Gateses credit Buffett, says Bill, with having "inspired" their thinking about giving money back to society.