Daggatt

"The two men met for over four hours, during which McCaw subjected Daggatt to a series of soul-searching questions. One question probed Daggatt's grasp of strategic issues: What business was Federal Express in? Daggatt answered that FedEx sold not package delivery but peace of mind—the certainty of getting that crucial parcel delivered on time, "absolutely, positively," as FedEx's ads had it. That was the correct answer."

"McCaw also offered various business scenarios and asked Daggatt to analyze the "value equation" in each. How does a business bring value to the customer? If Daggatt started talking about profit margins, McCaw stopped him. No, not profits, McCaw would insist—customer value. From such exchanges, Daggatt grasped an important point about McCaw's philosophy of business: "McCaw's approach to making money is indirect," he says. "It's how you create and build value. If you do that, there are lots of ways to make money. You're not going to make money very long if you're not creating value.""

"McCaw liked Daggatt's approach for several reasons. McCaw saw a future in which humans would return to a more nomadic lifestyle,"