Years ago I read a Fortune magazine article where [Hong Kong tycoon] Li Ka-shing was quoted as advising his sons in the following fashion: When you enter into a partnership with somebody and you expect to make a dollar and your partner expects to make a dollar, too, then when the deal is over, why don’t you just take 80 cents? And if you take 80 cents, maybe he will offer you 90 cents, and you still have a good partnership. But even if he doesn’t offer you 90 cents and you take your 80 cents, that’s okay. But never, never should you try to take $1.10. If you follow my advice, he told his sons, you will never lack partners. Well, I’m not Li Ka-shing’s son, but I thought that was pretty good advice.
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