My Life And Work

1. What is the book about as a whole?

The autobiography of Henry Ford. He attempts to provide a recollection of his way of starting and growing the business and provides his explanation on success as well as general thoughts.

2. What is being said in detail, and how?

## A business should first and foremost provide a service. Everything else follows - making money, growth, pricing... If providing a service is in the most important thing, then minimizing cost for the customer follows naturally. Minimizing cost is an analytical process and Ford did it mainly by minimizing waste movements. Careful considerion is placed into where what part is manufactured, shipping costs, energy costs, traffic congestions...

## Manufacturing is the driving force behind progress Derivatives like banking system or government exist only because of manufacturing. Manufacturing is what pays their bills. It is up to the manufacturers and business owners to provide fair compensation to the workers and it is true that there are greedy business owners but Ford has proven that there is another way. He argues he provides jobs for cripples and is paying more than fair minimum wage which seems to be consistent with reality.

3. Is the book true, in whole or part?

It is certain that Ford's reading is biased and views himself in the most virtuous position. It is very much possible that he has provided great service for many people but that's not easy to judge from reading an autobiography. In that sense, it's hard to weigh the moral lessons of the book.

The advice on business goals does seem sound but I found that he is downplaying his own ability and understanding of cars. I doubt many people could grasp the technology behind the automobile so fully as he did; and I doubt manufacturing can be as efficient without such understanding.

There is some truth to the analysis of the world of finance and banking but I found it a bit one-sided and too full of contempt for the "international banker".

4. What of it?

Service first and foremost is absolutely amazing advice. Come to think of it, this is a recipe for success for modern companies like Nvidia (largest company by capital at the time of writing) compared to competitiors. NVIDIA doesn't just provide hardware - they provide a service alongside with through software. If I ever endevour into starting a business, service first should be my top priority.