. In 1968, Hock convinced Bank of America to give up ownership and control of their BankAmericard credit card program. The new company, called National BankAmerica, was a non-stock membership corporation equally owned by its member banks. The name was changed to VISA in 1976.
In May 1984, Hock resigned his management role with Visa, retiring to spend almost 10 years in relative isolation working a 200 acre (0.809372 km²) parcel of land to the west of Silicon Valley
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Simple, clear purpose and principles give rise to complex and intelligent behaviour. Complex rules and regulations give rise to simple and stupid behaviour.
Given the right circumstances, from no more than dreams, determination, and the liberty to try, ordinary people consistently do extraordinary things. To lead is to create those circumstances.
Hire and promote first on the basis of integrity; second motivation; third capacity; fourth understanding; fifth knowledge; and last and least, experience. Without integrity, motivation is dangerous; without motivation, capacity is impotent; without capacity, understanding is limited; without understanding, knowledge is meaningless; without knowledge, experience is blind.
The problem is never how to get new, innovative thoughts into your mind, but how to get old ones out. Every mind is a building filled with archaic furniture. Clean out a corner of your mind and creativity will instantly fill it.