whatever it is that you want to do your there’s gonna be risk in your life and
there’s gonna be risk in your life and
there’s gonna be risk in your life and risk is a necessary component of
risk is a necessary component of
risk is a necessary component of progress you can make any pioneering
progress you can make any pioneering
progress you can make any pioneering movements in the world of any kind
movements in the world of any kind
movements in the world of any kind whether they be the geographical
whether they be the geographical
whether they be the geographical physical exploration that I’ve just been
physical exploration that I’ve just been
physical exploration that I’ve just been talking about whether it be you know a
talking about whether it be you know a
talking about whether it be you know a more cerebral exploration of a
more cerebral exploration of a
more cerebral exploration of a scientific field or I bet you could ask
scientific field or I bet you could ask
scientific field or I bet you could ask that question of every speaker here and
that question of every speaker here and
that question of every speaker here and I bet that every speaker here has taken
I bet that every speaker here has taken
I bet that every speaker here has taken substantial risks whether it be
substantial risks whether it be
substantial risks whether it be intellectual or otherwise to achieve
intellectual or otherwise to achieve
intellectual or otherwise to achieve what they’re you know what they’ve done
what they’re you know what they’ve done
what they’re you know what they’ve done people think that entrepreneurs take
people think that entrepreneurs take
people think that entrepreneurs take risk and they get rewarded because they
risk and they get rewarded because they
risk and they get rewarded because they take risk in reality entrepreneurs do
take risk in reality entrepreneurs do
take risk in reality entrepreneurs do everything they can to minimize risk
everything they can to minimize risk
everything they can to minimize risk they’re not interested in taking risk
they’re not interested in taking risk
they’re not interested in taking risk they want free lunches and they go after
they want free lunches and they go after
they want free lunches and they go after free lunches and so if you study on any
free lunches and so if you study on any
free lunches and so if you study on any number of entrepreneurs from Ray Kroc –
number of entrepreneurs from Ray Kroc –
number of entrepreneurs from Ray Kroc – you know herb shorts at Starbucks and –
you know herb shorts at Starbucks and –
you know herb shorts at Starbucks and – even even Buffett and Munger and so on
even even Buffett and Munger and so on
even even Buffett and Munger and so on what you’ll find is that they’ve
what you’ll find is that they’ve
what you’ll find is that they’ve repeatedly made bets which are low risk
repeatedly made bets which are low risk
repeatedly made bets which are low risk bets which have high return
bets which have high return
bets which have high return possibilities so they’re not going high
possibilities so they’re not going high
possibilities so they’re not going high risk high return they’re going low risk
risk high return they’re going low risk
risk high return they’re going low risk high return and even with Bill Gates for
high return and even with Bill Gates for
high return and even with Bill Gates for example the total amount of capital that
example the total amount of capital that
example the total amount of capital that ever went into Microsoft was less than
ever went into Microsoft was less than
ever went into Microsoft was less than fifty thousand between the time it
fifty thousand between the time it
fifty thousand between the time it started and today that’s the total
started and today that’s the total
started and today that’s the total amount of capital that went into the
amount of capital that went into the
amount of capital that went into the company so Microsoft you cannot say was
company so Microsoft you cannot say was
company so Microsoft you cannot say was a high-risk venture because there was no
a high-risk venture because there was no
a high-risk venture because there was no capital deployed but it had high
capital deployed but it had high
capital deployed but it had high uncertainty Bill Gates could have gone
uncertainty Bill Gates could have gone
uncertainty Bill Gates could have gone bankrupt or Bill Gates could have ended
bankrupt or Bill Gates could have ended
bankrupt or Bill Gates could have ended up the wealthiest person on the Forbes
up the wealthiest person on the Forbes
up the wealthiest person on the Forbes 400 and he ended up at the extreme end
400 and he ended up at the extreme end
400 and he ended up at the extreme end of the bell curve and that’s fine but he
of the bell curve and that’s fine but he
of the bell curve and that’s fine but he did not take risk to get there he was
did not take risk to get there he was
did not take risk to get there he was comfortable with uncertainty so
comfortable with uncertainty so
comfortable with uncertainty so entrepreneurs are great at dealing with
entrepreneurs are great at dealing with
entrepreneurs are great at dealing with uncertainty and also very good at
uncertainty and also very good at
uncertainty and also very good at in amazing risk that’s the classic great
in amazing risk that’s the classic great
in amazing risk that’s the classic great entrepreneur my intention with this
entrepreneur my intention with this
entrepreneur my intention with this video was to spread understanding not
video was to spread understanding not
video was to spread understanding not fighting I want you to see that it’s not
fighting I want you to see that it’s not
fighting I want you to see that it’s not one point of view or the other you can
one point of view or the other you can
one point of view or the other you can pull and learn from both especially the
pull and learn from both especially the
pull and learn from both especially the one that you don’t immediately resonate
one that you don’t immediately resonate
one that you don’t immediately resonate with embrace the genius of the end
”
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