Stephen Wynn on business philosophy
From Charlie Rose - Guest: Steve Wynn - 5.20.97 · · Terry Wilkie
“I've had this maybe naive notion that if you did a job well enough when it came to the business... that if you built a place that appealed to a broadest range of people, if you did it well enough... that the same energy would infect them that affected my father and I 45 years ago. Every time that we've tried something in our company's history... every time we've tried something fanciful or wacky or outlandish, if we've done it well... we've never been disappointed. We've had no failures.”
On , Stephen Wynn, Former Chairman & Chief Executive Officer at Wynn Resorts, spoke about business philosophy during Charlie Rose - Guest: Steve Wynn - 5.20.97 on Terry Wilkie.
About Stephen Wynn
Steve Wynn, the former chairman and CEO of Wynn Resorts, has spoken extensively about his creative process in developing Las Vegas resorts, emphasizing that a strong idea must precede any physical construction. In a 2005 Milken Institute talk, he described how he and his team spent 30 months working six days a week on the design of a new hotel, stating that "first an idea and then a building" is essential for any institution with lasting vitality. He also discussed the importance of execution, noting that while ideas can be perfect, "execution is another story" where compromise sets in. Wynn has been outspoken on political and economic issues. In 2016, he described himself as a registered Democrat who has supported both parties, and said he would "tend to vote based upon the Supreme Court possibilities." He criticized the Obama administration's regulatory approach, stating in a 2011 earnings call that "the Democratic agenda of spend and bribed the public, has bankrupt this country." He also expressed concern about the impact of national politics on business, saying in a 2016 interview that he could not predict future health care costs or regulatory burdens, which he said prevented him from committing to new projects.