Leading by Example and Staying Vigilant

The speaker believed in setting a good example of leadership by turning down pay and bonus increases at the company, opting for stock options instead, even when the stock value rose significantly. They extended this practice to employees, like the pilots, offering them stock options instead of pay raises. The speaker expressed the importance of staying vigilant and not getting complacent in the face of competition, emphasizing the need to think small and act small to avoid getting too big and becoming vulnerable to upstart competitors.