1. Hiring is the single most important thing a company can do because it directly affects all other things that are done thereafter.

2. Hire only people you completely trust to fulfil a given role. Then completely trust those people.

3. Your job as an interviewer is NOT to hire "good" people -- that's an undecidable problem. Your job as interviewer is to REJECT substandard people.

4. The most critical personality trait to look for in a candidate is Honesty. All other important properties flow from that font. Dishonesty in an interview is the Kiss-of-Death.

5. Every thing you need to know about an Programmer, you can learn from having them explain their own code to you.

Excellent stuff. I particularly like the part about having someone explain their own code. This does two things: it demonstrates they understand the technical bits, and simultaneously tests whether they can intelligently, and succinctly communicate.