i mean, you get taken over, peoplesoft gets taken over by oracle in a not very pretty situation, but a lot of money comes out of it and you are able to use it to create workday. would venture capitol have funded you the way you funded you? >> i think they would if you are a consumer company? >> so the answer is no. you are not a consumer company. you are a one-off, in the sense that there's a bizarre set of circumstances that allow you to exist. >> a lot of the original funding comes from dave dufffield, these kind of businesses are built for the long run, they are not built for the quick three-year hit. we are eight years old, so we are not that young a company anymore. >> at the same time, it's over a long time scale, and the high barrier to entry, are you structuring the company to be a bigger company that you til have some of that kind of agilitiy? >> we are a little over 2,000 employees now, if you walk around the workday offices, feel like you are in a start up, and a consumer internet company. that is by design. >> what is in the science that fuels the internet company? >> the

, and oracle has continued its winning business strategy by swallowing up key rivals, including peoplesoft significantly, sun microsystems. in 2011, forbes magazine named ellison the fifth richest man in the world, with an estimated worth of 39 1/2 billion. [ticking] coming up, an oil man promotes wind energy. >> how do you know the utilities are gonna take wind power as a substitute for natural gas? >> that may be a mandate. >> so that's a critical point. you may have to have the government demand this happen. >> right. >> suppose it doesn't work. suppose the pickens plan doesn't happen. what happens to the country? >> oh, well, the plan then is foreign oil. >> t. boone pickens' crusade when 60 minutes on cnbc returns. [ticking] hey! did you know that honey nut cheerios has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. find out with venus embrace. every five-bladed stroke gives you 360 degrees of smooth for goddess skin you can feel and feel. only

, and oracle has continued its winning business strategy by swallowing up key rivals, including peoplesoftmost significantly, sun microsystems. in 2011, forbes magazine named ellison the fifth richest man in the world, with an estimated worth of 39 1/2 billion. [ticking] coming up, an oil man promotes wind energy. >> how do you know the utilities are gonna take wind power as a substitute for natural gas? >> that may be a mandate. >> so that's a critical point. you may have to have the government demand this happen. >> right. >> suppose it doesn't work. suppose the pickens plan doesn't happen. what happens to the country? >> oh, well, the plan then is foreign oil. >> t. boone pickens' crusade when 60 minutes on cnbc returns. [ticking] [ chainsaw buzzing ] humans. sometimes, life trips us up. sometimes, we trip ourselves up. and although the mistakes may seem to just keep coming at you, so do the solutions. like multi-policy discounts from liberty mutual insurance. save up to 10% just for combining your auto and home insurance. call liberty mutual insurance at... to speak with an insurance e

economist at the hudson institute and active as an entrepreneur and investor having founded of peoplesoft performs. in addition to senior research at the heritage foundation and the kauffman foundation, he has served at the joint economic committee for the congress. he and glenn hubbard blog at economics.com and tim also offered leading soft in the national review. more information can be found in the information she's the you have on your chair in front of you. without further ado, i'm going to ask glenn hubbard and tim kane to speak a little bit about their partnership in the book. then we will move to the question and answer session. think about any questions you may have about this very important subject. mr. hubbard, please begin. >> thank you. thank you for everyone for coming out tonight to talk about the book. tim and myself are radicals because you may not think we look like them, but we consider ourselves that, because the book explains why the decline is inevitable for the united states and it is quite the opposite. we are at a say no to the decline school for america. it is ra