Press "Enter" to skip to content

The Hindsight Fund: Investing Humor for Strategic Returns | Frank Lackner | TEDxHofstraUniversity


thank you very nice warm introduction I

thank you very nice warm introduction I just wanted to thank Hofstra University

just wanted to thank Hofstra University

just wanted to thank Hofstra University for making this opportunity possible and

for making this opportunity possible and

for making this opportunity possible and as you mentioned I graduated in 89 very

as you mentioned I graduated in 89 very

as you mentioned I graduated in 89 very fun memories what I’d like to talk about

fun memories what I’d like to talk about

fun memories what I’d like to talk about today is what I call the hindsight fund

today is what I call the hindsight fund

today is what I call the hindsight fund and how you can use humor in day to day

and how you can use humor in day to day

and how you can use humor in day to day experiences if you do what you do on a

experiences if you do what you do on a

experiences if you do what you do on a day-to-day basis the question is how do

day-to-day basis the question is how do

day-to-day basis the question is how do you maintain your sanity and your

you maintain your sanity and your

you maintain your sanity and your humanity and my solution is to invest

humanity and my solution is to invest

humanity and my solution is to invest humor in everything seriously the

humor in everything seriously the

humor in everything seriously the hindsight fund is a construct that I

hindsight fund is a construct that I

hindsight fund is a construct that I came up with several years ago and it’s

came up with several years ago and it’s

came up with several years ago and it’s simply a place for me to store the

simply a place for me to store the

simply a place for me to store the interesting opportunities and

interesting opportunities and

interesting opportunities and experiences that I’ve had throughout my

experiences that I’ve had throughout my

experiences that I’ve had throughout my business career in it you might find

business career in it you might find

business career in it you might find Bitcoin or some Microsoft stock or stock

Bitcoin or some Microsoft stock or stock

Bitcoin or some Microsoft stock or stock from the Facebook IPO you might even

from the Facebook IPO you might even

from the Facebook IPO you might even find a nice Tribeca loft in the

find a nice Tribeca loft in the

find a nice Tribeca loft in the hindsight fund but I’ll get back to the

hindsight fund but I’ll get back to the

hindsight fund but I’ll get back to the hind side fund a little bit later first

hind side fund a little bit later first

hind side fund a little bit later first I’d like to provide for you some

I’d like to provide for you some

I’d like to provide for you some historical context as to how this all

historical context as to how this all

historical context as to how this all came about so I was born into a family

came about so I was born into a family

came about so I was born into a family of comedians and they’re not

of comedians and they’re not

of comedians and they’re not professional comedians but amateur

professional comedians but amateur

professional comedians but amateur closeted comedians if you will we had

closeted comedians if you will we had

closeted comedians if you will we had dinner Queens New York we had family

dinner Queens New York we had family

dinner Queens New York we had family dinners and they weren’t so much dinners

dinners and they weren’t so much dinners

dinners and they weren’t so much dinners we had cousins there they weren’t so

we had cousins there they weren’t so

we had cousins there they weren’t so much family dinners they were really

much family dinners they were really

much family dinners they were really open mic nights and we would just spend

open mic nights and we would just spend

open mic nights and we would just spend hours trying to make each other laugh

hours trying to make each other laugh

hours trying to make each other laugh and this distracted us from eating which

and this distracted us from eating which

and this distracted us from eating which if you saw the food maybe it wasn’t such

if you saw the food maybe it wasn’t such

if you saw the food maybe it wasn’t such a bad thing but nonetheless we carried

a bad thing but nonetheless we carried

a bad thing but nonetheless we carried on humor was ingrained in us

on humor was ingrained in us

on humor was ingrained in us and it carried through to my first job

and it carried through to my first job

and it carried through to my first job at the age of 12 which was at my

at the age of 12 which was at my

at the age of 12 which was at my father’s deli also in Queens New York

father’s deli also in Queens New York

father’s deli also in Queens New York and we used humor there as well I guess

and we used humor there as well I guess

and we used humor there as well I guess it was a coping mechanism a way to deal

it was a coping mechanism a way to deal

it was a coping mechanism a way to deal with the customers that were from the

with the customers that were from the

with the customers that were from the neighborhood and were challenging let’s

neighborhood and were challenging let’s

neighborhood and were challenging let’s just say but we used humor when the

just say but we used humor when the

just say but we used humor when the customers would challenge us or ask us

customers would challenge us or ask us

customers would challenge us or ask us or joke with us and say you’re only 12

or joke with us and say you’re only 12

or joke with us and say you’re only 12 years old isn’t that child labor and we

years old isn’t that child labor and we

years old isn’t that child labor and we would laugh and respond and say well we

would laugh and respond and say well we

would laugh and respond and say well we call it quality family time

call it quality family time

call it quality family time anyway early on in my career humor

anyway early on in my career humor

anyway early on in my career humor became not just a coping mechanism but a

became not just a coping mechanism but a

became not just a coping mechanism but a method of interaction and creating

method of interaction and creating

method of interaction and creating strong interpersonal relationships in

strong interpersonal relationships in

strong interpersonal relationships in both a business setting and a personal

both a business setting and a personal

both a business setting and a personal setting so this continued on to the

setting so this continued on to the

setting so this continued on to the early days of my career and as I

early days of my career and as I

early days of my career and as I transitioned through high school and

transitioned through high school and

transitioned through high school and university I came here at Hofstra came

university I came here at Hofstra came

university I came here at Hofstra came upon a fraternity called Alpha Kappa Psi

upon a fraternity called Alpha Kappa Psi

upon a fraternity called Alpha Kappa Psi and as a business fraternity co-ed and a

and as a business fraternity co-ed and a

and as a business fraternity co-ed and a woman in this fraternity from Brooklyn

woman in this fraternity from Brooklyn

woman in this fraternity from Brooklyn she introduced me to this concept of a

she introduced me to this concept of a

she introduced me to this concept of a finance company on Wall Street and she

finance company on Wall Street and she

finance company on Wall Street and she said here’s what these people are making

said here’s what these people are making

said here’s what these people are making their first year out of school and I

their first year out of school and I

their first year out of school and I said nobody I said nobody makes that

said nobody I said nobody makes that

said nobody I said nobody makes that kind of money at a school first year

kind of money at a school first year

kind of money at a school first year it’s just not possible

it’s just not possible

it’s just not possible she said well at this place it is so I

she said well at this place it is so I

she said well at this place it is so I figured ok I can curb my comedic

figured ok I can curb my comedic

figured ok I can curb my comedic inclinations and focus on getting into

inclinations and focus on getting into

inclinations and focus on getting into this place and my view was once you get

this place and my view was once you get

this place and my view was once you get in you’re in so just get in so I figured

in you’re in so just get in so I figured

in you’re in so just get in so I figured out a way to get into this company and I

out a way to get into this company and I

out a way to get into this company and I figured let me just put the comedy on

figured let me just put the comedy on

figured let me just put the comedy on hold for now and I can always circle

hold for now and I can always circle

hold for now and I can always circle back to that at some point in the future

back to that at some point in the future

back to that at some point in the future well the comedy emerged fairly early on

well the comedy emerged fairly early on

well the comedy emerged fairly early on one of my first bosses came up to me and

one of my first bosses came up to me and

one of my first bosses came up to me and this now just understand the context

this now just understand the context

this now just understand the context it’s a finance company it’s very serious

it’s a finance company it’s very serious

it’s a finance company it’s very serious place not only was I doing finance but I

place not only was I doing finance but I

place not only was I doing finance but I was also doing insurance so you kind of

was also doing insurance so you kind of

was also doing insurance so you kind of put them together and it’s very

put them together and it’s very

put them together and it’s very difficult to comprehend how exciting

difficult to comprehend how exciting

difficult to comprehend how exciting that might be but it is I assure you and

that might be but it is I assure you and

that might be but it is I assure you and so in that context one of the bosses

so in that context one of the bosses

so in that context one of the bosses comes up to me and he says I guess

comes up to me and he says I guess

comes up to me and he says I guess jokingly but he said do you have any

jokingly but he said do you have any

jokingly but he said do you have any friend tell me you have any natural

friend tell me you have any natural

friend tell me you have any natural fibers in that suit I don’t know if he

fibers in that suit I don’t know if he

fibers in that suit I don’t know if he was making fun of me or if he was just

was making fun of me or if he was just

was making fun of me or if he was just joking but I said yeah I think there’s

joking but I said yeah I think there’s

joking but I said yeah I think there’s some I think there’s some wool in here

some I think there’s some wool in here

some I think there’s some wool in here maybe and some maybe some fiberglass

maybe and some maybe some fiberglass

maybe and some maybe some fiberglass that makes it shiny and then he said you

that makes it shiny and then he said you

that makes it shiny and then he said you know you really can’t come in here

know you really can’t come in here

know you really can’t come in here wearing shoes like that like what’s

wearing shoes like that like what’s

wearing shoes like that like what’s wrong with my shoes my mother got me

wrong with my shoes my mother got me

wrong with my shoes my mother got me these she was saying so I said and

these she was saying so I said and

these she was saying so I said and what’s with the obsession with my

what’s with the obsession with my

what’s with the obsession with my clothing so apparently I had to get some

clothing so apparently I had to get some

clothing so apparently I had to get some new clothes and which I promptly did and

new clothes and which I promptly did and

new clothes and which I promptly did and just to try to adapt into this situation

just to try to adapt into this situation

just to try to adapt into this situation but I decided you know I’m gonna respond

but I decided you know I’m gonna respond

but I decided you know I’m gonna respond to him in a way that Robert De Niro

to him in a way that Robert De Niro

to him in a way that Robert De Niro would respond to him and I said are you

would respond to him and I said are you

would respond to him and I said are you busting my chops is that what you’re

busting my chops is that what you’re

busting my chops is that what you’re doing are you busting my chops say it

doing are you busting my chops say it

doing are you busting my chops say it right now if you’re gonna bust my chops

right now if you’re gonna bust my chops

right now if you’re gonna bust my chops say it again go get your shine box stop

say it again go get your shine box stop

say it again go get your shine box stop busting my chops excuse me audio so that

busting my chops excuse me audio so that

busting my chops excuse me audio so that was sort of my foray at the time into

was sort of my foray at the time into

was sort of my foray at the time into incorporating comedy into business and

incorporating comedy into business and

incorporating comedy into business and then I decided to get into comedy a

then I decided to get into comedy a

then I decided to get into comedy a little bit more so a friend approached

little bit more so a friend approached

little bit more so a friend approached me and he said what do you think about

me and he said what do you think about

me and he said what do you think about doing stand-up comedy at a variety show

doing stand-up comedy at a variety show

doing stand-up comedy at a variety show that I’m producing in the village

that I’m producing in the village

that I’m producing in the village Greenwich Village and I said sure I’d

Greenwich Village and I said sure I’d

Greenwich Village and I said sure I’d love to and that sounds like a great

love to and that sounds like a great

love to and that sounds like a great idea I could kill my career in one night

idea I could kill my career in one night

idea I could kill my career in one night and so I talked to a business partner of

and so I talked to a business partner of

and so I talked to a business partner of mine and I said I’m gonna do some

mine and I said I’m gonna do some

mine and I said I’m gonna do some stand-up comedy would you like to go and

stand-up comedy would you like to go and

stand-up comedy would you like to go and he said that if you do that people

he said that if you do that people

he said that if you do that people there’s a good chance people are not

there’s a good chance people are not

there’s a good chance people are not going to take you seriously

going to take you seriously

going to take you seriously I thought about that and I said well

I thought about that and I said well

I thought about that and I said well maybe that’s a risk but maybe that’s not

maybe that’s a risk but maybe that’s not

maybe that’s a risk but maybe that’s not such a bad thing

such a bad thing

such a bad thing so anyway I did the variety show I loved

so anyway I did the variety show I loved

so anyway I did the variety show I loved it people laughed and I felt good it was

it people laughed and I felt good it was

it people laughed and I felt good it was a win-win I decided to continue to do it

a win-win I decided to continue to do it

a win-win I decided to continue to do it so I started doing corporate

so I started doing corporate

so I started doing corporate performances and then a friend of mine

performances and then a friend of mine

performances and then a friend of mine from India asked me to come over to

from India asked me to come over to

from India asked me to come over to India for a wedding to do stand-up

India for a wedding to do stand-up

India for a wedding to do stand-up comedy at the wedding which I did by

comedy at the wedding which I did by

comedy at the wedding which I did by myself in Hindi okay not in Hindi in

myself in Hindi okay not in Hindi in

myself in Hindi okay not in Hindi in english but amazing experience another

english but amazing experience another

english but amazing experience another friend of mine a New York lawyer said

friend of mine a New York lawyer said

friend of mine a New York lawyer said hey we’ve got a bunch of venture

hey we’ve got a bunch of venture

hey we’ve got a bunch of venture capitalists that we’re throwing a

capitalists that we’re throwing a

capitalists that we’re throwing a weekend party for would you like to

weekend party for would you like to

weekend party for would you like to perform at it I’d love to do it he said

perform at it I’d love to do it he said

perform at it I’d love to do it he said can you do something a little bit

can you do something a little bit

can you do something a little bit tailored for venture capitalists and I

tailored for venture capitalists and I

tailored for venture capitalists and I said venture capital and comedy they

said venture capital and comedy they

said venture capital and comedy they they were born together needless to say

they were born together needless to say

they were born together needless to say was a very short thing and then another

was a very short thing and then another

was a very short thing and then another friend of mine invited me to Ireland to

friend of mine invited me to Ireland to

friend of mine invited me to Ireland to do a stand-up comedy for a charity thing

do a stand-up comedy for a charity thing

do a stand-up comedy for a charity thing so I said yes jumped at it and I went

so I said yes jumped at it and I went

so I said yes jumped at it and I went over there and I thought it would be a

over there and I thought it would be a

over there and I thought it would be a pretty receptive crowd I bombed okay

pretty receptive crowd I bombed okay

pretty receptive crowd I bombed okay here’s the thing you can’t compete with

here’s the thing you can’t compete with

here’s the thing you can’t compete with an open bar it’s the bottom line role in

an open bar it’s the bottom line role in

an open bar it’s the bottom line role in comedy okay you just won’t win never

comedy okay you just won’t win never

comedy okay you just won’t win never ever so I learned from that but I’ll

ever so I learned from that but I’ll

ever so I learned from that but I’ll tell you I realized even while kind of

tell you I realized even while kind of

tell you I realized even while kind of doing both comedy and business and

doing both comedy and business and

doing both comedy and business and finance that you can do both and that

finance that you can do both and that

finance that you can do both and that it’s not a bad thing to not be serious

it’s not a bad thing to not be serious

it’s not a bad thing to not be serious all the time and then I vowed to never

all the time and then I vowed to never

all the time and then I vowed to never not use a double negative ever again

not use a double negative ever again

not use a double negative ever again Communications okay there’s corpse speak

Communications okay there’s corpse speak

Communications okay there’s corpse speak business buzzwords all of that this

business buzzwords all of that this

business buzzwords all of that this started to build up in me listening to

started to build up in me listening to

started to build up in me listening to the same things that people would say

the same things that people would say

the same things that people would say you know is it a good idea say well it’s

you know is it a good idea say well it’s

you know is it a good idea say well it’s just not in our wheelhouse you know you

just not in our wheelhouse you know you

just not in our wheelhouse you know you got to keep your nose to the grindstone

got to keep your nose to the grindstone

got to keep your nose to the grindstone right I just don’t have the bandwidth

right I just don’t have the bandwidth

right I just don’t have the bandwidth looks like we’re gonna have to write

looks like we’re gonna have to write

looks like we’re gonna have to write is that one so after a while I just

is that one so after a while I just

is that one so after a while I just couldn’t listen to that anymore

couldn’t listen to that anymore

couldn’t listen to that anymore and then I started noticing that

and then I started noticing that

and then I started noticing that acronyms were proliferating and you know

acronyms were proliferating and you know

acronyms were proliferating and you know the basic accurate you got yuppie you

the basic accurate you got yuppie you

the basic accurate you got yuppie you got NIMBY right not in my backyard

got NIMBY right not in my backyard

got NIMBY right not in my backyard you got IRS got TEDx all of these are

you got IRS got TEDx all of these are

you got IRS got TEDx all of these are fine okay the acronyms are fine but then

fine okay the acronyms are fine but then

fine okay the acronyms are fine but then in business they started to really jump

in business they started to really jump

in business they started to really jump out at me observational e and I said

out at me observational e and I said

out at me observational e and I said okay somebody came to me and they said

okay somebody came to me and they said

okay somebody came to me and they said can you please perform this DCF analysis

can you please perform this DCF analysis

can you please perform this DCF analysis so we can calculate the NPV ASAP and I

so we can calculate the NPV ASAP and I

so we can calculate the NPV ASAP and I said WTF I said an FW gtfo and it

said WTF I said an FW gtfo and it

said WTF I said an FW gtfo and it followed it up by saying DNA Toa M do

followed it up by saying DNA Toa M do

followed it up by saying DNA Toa M do not attempt to out acronym me then they

not attempt to out acronym me then they

not attempt to out acronym me then they came out with this thing called emails

came out with this thing called emails

came out with this thing called emails and emails have gotten to a point

and emails have gotten to a point

and emails have gotten to a point technology in the business world emails

technology in the business world emails

technology in the business world emails have gotten to a point where it’s send

have gotten to a point where it’s send

have gotten to a point where it’s send people to jail you just click send with

people to jail you just click send with

people to jail you just click send with the wrong stuff in it and you go to jail

the wrong stuff in it and you go to jail

the wrong stuff in it and you go to jail it’s a jail okay there’s a lot of emails

it’s a jail okay there’s a lot of emails

it’s a jail okay there’s a lot of emails in the hindsight funds of very many

in the hindsight funds of very many

in the hindsight funds of very many politicians and business people the

politicians and business people the

politicians and business people the other thing that I noticed was that the

other thing that I noticed was that the

other thing that I noticed was that the salutations at the end of the emails

salutations at the end of the emails

salutations at the end of the emails started to get increasingly ridiculous

started to get increasingly ridiculous

started to get increasingly ridiculous didn’t say started with just regards and

didn’t say started with just regards and

didn’t say started with just regards and then then somebody would go back and

then then somebody would go back and

then then somebody would go back and best regards right and then as is kind

best regards right and then as is kind

best regards right and then as is kind regards then they come back in warmest

regards then they come back in warmest

regards then they come back in warmest regards and I just wrote back do not

regards and I just wrote back do not

regards and I just wrote back do not attempt to out regard me

attempt to out regard me

attempt to out regard me anyway technology is really shaping a

anyway technology is really shaping a

anyway technology is really shaping a lot right now as you know and thank you

lot right now as you know and thank you

lot right now as you know and thank you for not having your smart phones out at

for not having your smart phones out at

for not having your smart phones out at this moment but the question is what is

this moment but the question is what is

this moment but the question is what is the future of humor particularly in the

the future of humor particularly in the

the future of humor particularly in the context of this conference being focused

context of this conference being focused

context of this conference being focused on what’s next so is the future of humor

on what’s next so is the future of humor

on what’s next so is the future of humor will it incorporate artificial

will it incorporate artificial

will it incorporate artificial intelligence perhaps will AI be able to

intelligence perhaps will AI be able to

intelligence perhaps will AI be able to create funny stuff in the future I don’t

create funny stuff in the future I don’t

create funny stuff in the future I don’t know I’m not sure look I just heard

know I’m not sure look I just heard

know I’m not sure look I just heard recently that Waze is dating Siri

recently that Waze is dating Siri

recently that Waze is dating Siri okay and that’s Siri then left ways for

okay and that’s Siri then left ways for

okay and that’s Siri then left ways for Alexa okay they met online by the way I

had a conversation with Alexa once at my

had a conversation with Alexa once at my friend’s house and I asked Alexa I said

friend’s house and I asked Alexa I said

friend’s house and I asked Alexa I said Alexa are you self-aware she said I’ll

Alexa are you self-aware she said I’ll

Alexa are you self-aware she said I’ll get back to you on that

get back to you on that

get back to you on that so better than no answer by the way but

so better than no answer by the way but

so better than no answer by the way but I said Alexa can you do a Brooklyn

I said Alexa can you do a Brooklyn

I said Alexa can you do a Brooklyn accent and she said yeah whatever stop

accent and she said yeah whatever stop

accent and she said yeah whatever stop busting my chops and I said then I said

busting my chops and I said then I said

busting my chops and I said then I said let me just play around a little bit I

let me just play around a little bit I

let me just play around a little bit I said Alexa I Michael Caine I do Michael

said Alexa I Michael Caine I do Michael

said Alexa I Michael Caine I do Michael Caine voice and I said I lecture

Caine voice and I said I lecture

Caine voice and I said I lecture Who am I right now and for that one

Who am I right now and for that one

Who am I right now and for that one there was no answer and then I asked her

there was no answer and then I asked her

there was no answer and then I asked her Alexa so what exactly is hindsight fund

Alexa so what exactly is hindsight fund

Alexa so what exactly is hindsight fund and Alexis said a hindsight fund well I

and Alexis said a hindsight fund well I

and Alexis said a hindsight fund well I said Alexa let me answer for you

said Alexa let me answer for you

said Alexa let me answer for you hindsight fund is a place where you can

hindsight fund is a place where you can

hindsight fund is a place where you can store all of your experiences in a safe

store all of your experiences in a safe

store all of your experiences in a safe place that you could hopefully draw from

place that you could hopefully draw from

place that you could hopefully draw from and apply in the future to both business

and apply in the future to both business

and apply in the future to both business and personal settings and to that end

and personal settings and to that end

and personal settings and to that end I would like to say in the future in a

I would like to say in the future in a

I would like to say in the future in a business setting in a business setting

business setting in a business setting

business setting in a business setting or in a personal setting if you’re in a

or in a personal setting if you’re in a

or in a personal setting if you’re in a business setting use all lines of

business setting use all lines of

business setting use all lines of communication that might be possible and

communication that might be possible and

communication that might be possible and available in a business setting to the

available in a business setting to the

available in a business setting to the extent that you can apply comedy and

extent that you can apply comedy and

extent that you can apply comedy and humor to those lines of communications

humor to those lines of communications

humor to those lines of communications you should do that

you should do that

you should do that and in a business setting please don’t

and in a business setting please don’t

and in a business setting please don’t take yourself too seriously I’m serious

take yourself too seriously I’m serious

take yourself too seriously I’m serious thank you

thank you

thank you [Applause]

”

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *