Martin Sorrell

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Last quote by Martin Sorrell

Residents of the Davos bubble (of which I am one) misjudged the public mood. What all this tells us is that companies lack the will or confidence to invest in their own growth and development, and prefer instead the seemingly risk-free approach of returning funds to shareholders or retaining ever-larger cash balances.feedback
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We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Martin Sorrell is associated, including Trump, U.S., and issue. Most recently, Martin Sorrell has been quoted saying: “Not for the first time, residents of the Davos bubble had misjudged the public mood, failing at the previous meeting to predict the result of either the US election or the Brexit vote.” in the article WPP chief Sir Martin Sorrell takes £22m pay cut as he warns of threats to global economy.
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Martin Sorrell quotes

If you're trying to run a business in this environment, what do you do? You get on with it.feedback

They are media companies, they are not technology companies, they cannot masquerade as technology companies and they are responsible, just like you and everybody else, for the content that goes out on their channel and they have to take responsibility.feedback

Boycotting what is one of the most powerful, if not the most powerful medium, doesn't make sense. With duopolistic control or influence comes responsibility, and last time I checked Google's revenues and margins and Facebook's revenues and margins, they were certainly, I look at them with some degree of envy, it's true ... With authority or position comes a responsibility, and they have got to step up and take responsibility.feedback

They can't sit there and say we are digital engineers and are not responsible. They are responsible and get on and accept it and police it properly. We have always said Google, Facebook and others are media companies and have the same responsibilities as any other media company. They cannot masquerade as technology companies, particularly when they place advertisements.feedback

The big issue for Google and Facebook is whether they are going to have human editing at this point ... of course they have the profitability. They have the margins to enable them to do it. And this is going to be the big issue – how far are they prepared to go?feedback

I think the most constructive way of doing it is getting Google and Facebook to understand the problem, which I think they do, and to get them to step up to control it just like any other media right now would in a traditional sense.feedback

They've always maintained they were sort of digital engineers standing there with their digital spanners, trying to tighten the nuts on their digital pipes and not being responsible for the content that was going through the pipes. They can't just say look we're a technology company, we have nothing to do with the content that is appearing on our digital pages.feedback

I think focused strategies around very strict product groups are the way to go, not the diversified conglomerate strategy, which seems to be driven more by trying to diversify assets outside of China and obviously invest abroad. So exhaust all the opportunities in China first, then you have to start looking at whether you go for the bigger markets, obviously like the U.S. or Western Europe, or you start to pick up some of the smaller markets that are contiguous to China, in the context of Asia Pacific, particularly given the Belt and Road (strategy).feedback

A lot of Chinese companies now are expanding abroad. Huawei is a very strong example of that, Lenovo is another. These are all companies that are building businesses abroad and you see two different strategies – one, a very diversified (strategy) like a Fosun or a Wanda, which probably is lacking a bit of focus.feedback

In fact, this year for the first time, in our survey of the 100 top brands here in China, I think the fifth time we've done it, ... we've seen Chinese brands eclipse some of the foreign MNCs.feedback

I thought it would be good to have a go. I'd made a little bit of money, and borrowed 250,000 pounds [around $310,000 in today's exchange rate]. Forty in those days used to be a pretty critical age. Because you think of yourself starting work when you're about 20, you come out of college, and finishing when you're 60. Now, of course, here I am at 72 still going.feedback

In those days there was a fair bit of invective, and it's water off a duck's back. What I had to go through was nothing near what my parents had to go through, or my grandparents had to go through.feedback

You get time on those trips to think about priorities of what you're doing and implement them.feedback

But it's increasing become more complex. Persistence, determination and speed are really important. You have to be increasingly efficient in what you do. Do more for less ... that's the way of the world at the moment. Things don't come up Monday through Friday. They come up on Saturday or on Christmas Day, or whatever it happens to be. Things move so quickly that being disconnected for eight to ten hours on a plane is not helpful. Getting time to think is really important, which is not necessarily quiet time in the sense of disengaging from the business.feedback

In answer to the question, my favorite question, What worries you when you get to bed at night and you wake up in the morning,' it's not a 3-month-old child. It's Amazon, which is a child still, but not 3 months.feedback

Amazon's penetration, to most, there is frightening, if not terrifying, to some.feedback

If you look at the competitive reaction, if you look at Facebook's reaction in terms of copying or imitating a lot of the features that Snapchat has, that's indicative of the issues that Facebook faces in relation to Snap and its growth. So you have a search war developing between Amazon and Google and you have a social media war, if I can put it that way, or market share war between Facebook and Snap. We'll see how far they go, that pales into relative insignificance to Google.feedback

Google and Facebook dominate digital advertising. They own about 75 percent of the market. And they get about 100 percent of incremental spend at the moment. What our clients want and what our agencies and indeed our competitors' agencies want is more competition in the market place.feedback

The strongest innovators and strongest brands generate the strongest total shareholder returns. Perhaps surprisingly, corporate structures that seem to offend customary good corporate governance may deliver better long-term results. The prospects in the UK are more mixed as the post-Brexit vote scenarios will play out over the next two years and uncertainties about the possible outcomes increase.feedback

The four leading western continental European economies – Germany, France, Italy and Spain – let alone the Netherlands and Greece, also all face political uncertainty, although Germany and Spain are strengthening economically. In these circumstances, clients face challenging top-line growth opportunities and uncertainties.feedback

The biggest key thing that I think Evan and his colleagues have got to demonstrate is return on investment. The number of clients say to me because of disruption … we have to make sure that the return on our media investment is considerable.feedback

Amazon's tentacles are spreading rapidly into all areas. I think it's a defining moment in that it could well be the third force. Snap … is definitely a potential third force. The reason that Google has been successful … is that the results are very clear. Facebook is a little bit more woolly. I have always referred to Facebook as a brand mechanism as a way of building brands, rather than necessarily being about effective sales generation in the short term.feedback

I would say in the short-to-medium term, he will probably be successful, he has to implement his policies on tax, on regulation, on spending … but the atmosphere is remarkably different … than what we have seen in the last eight years under the Obama administration for good or bad.feedback

And the fact that America is $18 trillion of GDP … it is the biggest engine and if the biggest engine is growing faster, that ultimately is certainly good for America … but it's not necessarily bad news for the rest of the world.feedback

I would say Snapchat is the one thing that people look at and say, Maybe that's a third force that can counter the domination.feedback

The issue on Trump is what you win on the U.S. swings, you may lose on the international roundabouts.feedback

If the repatriation of profits is used yet again to invest in dividends and buybacks, what's the point? It's really got to be much more fundamental, long-term investment.feedback

It does become a threatening alternative to Facebook and I think that's the big opportunity for them. We know Facebook have tried to buy Snapchat a couple of times, we know that they've made product changes as a result of Snapchat's products. I think Facebook is concerned about the potential opposition.feedback

I think with the measurement issues, with the fake news issues, and the fraud issues that the internet faces, clients want to try and experiment.feedback

You're in a world of uncertainty, low growth, very little pricing power, because there's very little inflation … and that eventually will bring a problem prior to the next presidential election.feedback

We all talk to one another in this bubble here in Davos, echo chamber in London, and it's true of the East Coast, West Coast liberals. In terms of their businesses, in terms of their regulation,in terms of intervention, I think most industries favored a more Republican route … so it's a question about why were the pollsters wrong. Because nobody really told them the truth.feedback

Number two would be Murdoch, around $2.25 billion.feedback

Of course (political uncertainty) matters … Although I have to say we haven't seen what some of our competitors have been talking about, an impact of the U.S. presidential election on (the third quarter) in North America which continues to be quite strong.feedback

Given what's happening in the environment, the slow growth, lack of inflation - with the exception of the UK with the devaluation of sterling - the focus on costs and the general level of uncertainty around the world, I think it's a good performance.feedback

The bump from it is small in the context of the overall operations. The bigger issue is what happens long term.feedback

It's not just [giving advertisers] first look, it's trying to innovate and initiate ideas.feedback

It's something we'd love to do more with Google and Facebook to be honest with you, but they seem to be [harder to work with]. I think less so with Google, they seem to be proactive recently maybe because some of the regulatory issues they've had to deal with. But, Facebook certainly because of their success have become a little more difficult to deal with.feedback

The conundrum or dilemma is that what we want in business is certainty, because uncertainty is the enemy of growth, so we want clarity.feedback

On the upturn, it usually follows as people only increase spending when they are sure of recovery. No signs of cutting yet, although the U.K. slowed after the Brexit referendum was first announced.feedback

Generally, the environment is an uncertain one and in that context I think the first quarter was extremely good. If you're a legacy business, you're challenged by disruptors, you have zero-based cost budgeters, you've got activist investors,it's a difficult and uncertain climate and things like Brexit - we have to see what happens in June.feedback

I feel actually a little bit more confident (now). But (Republican presidential hopeful Donald) Trump has a long, long way to go and Florida is critical not just because of its size and importance but because that is the heartland for (rival Republican nominee Marco) Rubio.feedback

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