James Whitehurst31:48
Yeah, so it's funny when I think back on it. So when I graduated computer science, I decided I wanted to go do business, do something in business and get an MBA and be on the business side of technology. And I always thought I'd be on the business side of technology but I got really, really lucky. So I went to the Boston Consulting Group out of college and I thought I'd do that for a couple years. And I'd been there about a year and I got put on this project where we were doing all this evaluation work and they were really complex models. This wasn't like just in a spreadsheet, I mean it was really complex. We had these fading curves in terms of cash flows and how things would change over time that wasn't algebraic, you literally had to run the, now you could do it in Excel pretty easily but this was hard stuff back in the day. And these models ran out of a mainframe. And so I used to have this laptop and it was awful. I mean that's just going back to it had like floppy disk drives and I literally you'd have to run it at night and it would go up and down to the mainframe but then it was writing things in the floppy drive, it was so loud I had to like put it in my closet with an extension cord because I had a studio apartment. I'm right out of college, you know, like this is crazy. So I end up getting all the manuals, I end up rewriting it and it honestly wasn't that hard. I mean it just wasn't something you could do in a spreadsheet at the time. So I rewrote it on the PC. Well frankly once you've written something you know it really, really, really, really, really well because you like really kind of gone through and had to really deeply understand it. So I very quickly rose into leadership in what was called corporate development. So it was how we did valuation which gets into well what are multi-divisional companies worth and how do you assign values and M&A and all that stuff. So I went to business school, I came back, I stayed at BCG, I was loving it, things were going well. One of my big clients was Delta because it was like why are they valued the way they're valued. But anyway, a big part of why I think I was successful there is because I programmed this thing. And I was actually pretty happy there but 9/11 happened and I got a call from the CEO who I knew because I'd been serving them at BCG and he said I need you now to be my Treasurer. And I said, his name was Leo, Leo is like, you're out of your mind, I know nothing about being a Treasurer. He's like, well that's okay, nobody in their right mind would loan us money now so you're smart, you'll figure it out. So that's how I made that first transition. But a lot of that was again because I was so deep in how those models work, it allowed me to build credibility and leadership kind of quickly. And then I started to tell a little bit of the story about how the flight profitability models that we had back then which didn't really do what's called origin to destination, they allocated revenue, was doing all the route stuff. And so I spent a lot of time kind of deeply understanding that which is how I ultimately got promoted to running the network. And then the success out of that and how the changes kind of moved me to be COO. And then when we emerged from bankruptcy was a weird process, so a new board gets created and they want to bring in their own management team. So that's when I left. But because I'd been doing all that work in Linux, I got this call about Red Hat. And I'm like, yeah, I know Red Hat well, I'm using that at home, I've done a lot of work, I've hacked around on this stuff a lot. So had kind of credibility kind of working to go there. So you asked the question about do I have mentors. I'm not sure I'd say mentors but over time I've definitely built what I'll call a team. So there are two partners at BCG who are very good dear friends that, one was on either side, one was a little more senior, one was a little more junior, kind of coming up through. I called them for advice all the time. I know them well, they're good friends, they're good colleagues. A couple friends from business school the same way that I've known forever. Like when I left Delta which was a little bit unexpected because like new management team comes in, they're like okay, yep, yep, see you later, we're taking over now. A friend called me, it's like, okay get on a plane to Minneapolis tomorrow, I'm calling three other people, we're all getting together, we're spending a couple days, we're talking about your life and what you're going to go do. And so I got on a plane to do that. When he left his last job, do the same thing. So over time you build kind of a cadre of people who I think kind of know you deeply and their advice is invaluable and their advice is still invaluable and they know me well. Other people have done really well with mentors. I don't know if I've ever had a quote unquote mentor as much as these people that I've just kind of known and I can call for advice and I trust and they know me and they know a lot about me. Build those now. Like people at Rice, like who do you think kind of knows you there? Actually I have to say there are two other Jones '89 members on the Rice Board of Trustees and it isn't that big by the way. The three of us, if you had like put a lottery in that we would be on the Board of Trustees, people that would be more likely the three of us would be in jail than on the Board of Trustees. But they're both highly successful individuals as well, so who knew. But it's people like that that kept in touch with who I can call. And again there's something about kind of knowing you and kind of knowing what makes you tick that their advice I think is phenomenal. Others, I mean I don't want to say don't go get mentors and over time I think people can help with that. But I found life's long and the friends that you make and the connections that you make are incredibly powerful. I'll tell one other story on that regard. So when Delta was getting in financial trouble, we wanted to sell a regional subsidiary of ours called ASA. They did flying out of Atlanta on regional jets for Atlanta. The problem is when you go into bankruptcy, all of your contracts you can basically reject, you can just say you know what I'm rejecting that contract. So we wanted to sell this business to a partner but we were going to sell it knowing we'd probably file for bankruptcy. And so the contract wasn't worth much. And so I called the CEO of SkyWest at the time and I said look, I know you want to own this thing, we would like to sell it but it's a weird situation because whatever we agree to, in six months if we go bankrupt, which we probably will, we can cancel. So how do we build something where you have enough leverage that you feel like things are going to work out. And so we did a lot of work around that and I ultimately met their board of directors and really spent a lot of time just kind of building a lot of trust there. Well it turns out one of their members of the board of directors was on the board of directors of Red Hat. So when this recruiter who had been hired to find the CEO said I know this is a crazy idea but this guy Jim Whitehurst, he's like I know Jim, I fully trust him, I know how he ticks, blah, blah, blah. You know those kind of relationships are really, really important in life. And so again whether it's people who are friends who can advise you or just the reputation you build over time and people you can ultimately call, to me that's almost more important than mentorship. And life's long, jobs are short, life's long. And people you meet and relationships that you have and what your quote unquote brand is with people in the industry and around you is like the most important thing you have. That everybody goes around, we were talking earlier, it's like you know opinion on do you want to have, do you stay a long time at one place or is it better to kind of bounce around and get a lot of different experiences. And my answer to that was well kind of depends. Some people really get a lot of emotional satisfaction around a deep commitment to one place, etc. Others want to try in different places, get broader sets of experiences. So you can kind of make that decision. I would say if you're going to leave somewhere, leave on really good terms. Be honest about why you're leaving, give whoever it is notice, never burn bridges. You just never know when those things are going to kind of, it's the right thing to do but you never know when you turn around 10 years later and you're on the other side of the table from somebody and you want them to say that person is an honorable person, they've done the right thing. And that is option value that will always serve you well in life.