everywhere we look the world is changing with technology with political systems
with technology with political systems
with technology with political systems even the way we interact with each other
even the way we interact with each other
even the way we interact with each other how do you not only survive but thrive
how do you not only survive but thrive
how do you not only survive but thrive in a world of change what’s the secret
in a world of change what’s the secret
in a world of change what’s the secret sauce of Silicon Valley we’re here at
sauce of Silicon Valley we’re here at
sauce of Silicon Valley we’re here at the epicenter people are trying to
the epicenter people are trying to
the epicenter people are trying to figure that out
figure that out
figure that out so I believe the secret is to think like
so I believe the secret is to think like
so I believe the secret is to think like an entrepreneur I had the great
an entrepreneur I had the great
an entrepreneur I had the great privilege to interview some of the most
privilege to interview some of the most
privilege to interview some of the most successful entrepreneurs people like
successful entrepreneurs people like
successful entrepreneurs people like Elon Musk building SpaceX and Tesla the
Elon Musk building SpaceX and Tesla the
Elon Musk building SpaceX and Tesla the founders of Spanx LinkedIn 23andme
founders of Spanx LinkedIn 23andme
founders of Spanx LinkedIn 23andme companies like Airbnb I’m constantly
companies like Airbnb I’m constantly
companies like Airbnb I’m constantly asked everyone comes up and says who’s
asked everyone comes up and says who’s
asked everyone comes up and says who’s your favorite entrepreneur and the
your favorite entrepreneur and the
your favorite entrepreneur and the answer might surprise you my favorite
answer might surprise you my favorite
answer might surprise you my favorite entrepreneurs are Nadine in red this is
entrepreneurs are Nadine in red this is
entrepreneurs are Nadine in red this is my almost 101 year old grandmother and
my almost 101 year old grandmother and
my almost 101 year old grandmother and her one two hundred and six year old
her one two hundred and six year old
her one two hundred and six year old boyfriend red okay so why why you know
boyfriend red okay so why why you know
boyfriend red okay so why why you know why are they my favorite entrepreneurs
why are they my favorite entrepreneurs
why are they my favorite entrepreneurs because they’re curious they’re
because they’re curious they’re
because they’re curious they’re constantly learning they’re constantly
constantly learning they’re constantly
constantly learning they’re constantly questioning they’re overcoming setbacks
questioning they’re overcoming setbacks
questioning they’re overcoming setbacks and they really believe tomorrow will be
and they really believe tomorrow will be
and they really believe tomorrow will be better than today yes my grandmother has
better than today yes my grandmother has
better than today yes my grandmother has some aches and pains I mean she’s a
some aches and pains I mean she’s a
some aches and pains I mean she’s a hundred she’s breaking triple digits
hundred she’s breaking triple digits
hundred she’s breaking triple digits yes she’s retired so she had a career as
yes she’s retired so she had a career as
yes she’s retired so she had a career as a nurse and yes she’s left the home
a nurse and yes she’s left the home
a nurse and yes she’s left the home where she raised her four children and
where she raised her four children and
where she raised her four children and yes she lost her partner her husband
yes she lost her partner her husband
yes she lost her partner her husband after 62 years but she’s not complaining
after 62 years but she’s not complaining
after 62 years but she’s not complaining and she’s not complacent you know she’s
and she’s not complacent you know she’s
and she’s not complacent you know she’s challenging the status quo and looking
challenging the status quo and looking
challenging the status quo and looking for something better she’s a shining
for something better she’s a shining
for something better she’s a shining example of thinking like an entrepreneur
example of thinking like an entrepreneur
example of thinking like an entrepreneur you know she could have thought she was
you know she could have thought she was
you know she could have thought she was too old to venture out she could have
too old to venture out she could have
too old to venture out she could have stayed in a retirement center watch TV
stayed in a retirement center watch TV
stayed in a retirement center watch TV stayed with the people around there had
stayed with the people around there had
stayed with the people around there had meals delivered to her room but instead
meals delivered to her room but instead
meals delivered to her room but instead she ventured out she loves music and she
she ventured out she loves music and she
she ventured out she loves music and she went to a local concert every single
went to a local concert every single
went to a local concert every single Saturday she went to support local
Saturday she went to support local
Saturday she went to support local musicians and that’s where she found
musicians and that’s where she found
musicians and that’s where she found read so she got out of her comfort zone
read so she got out of her comfort zone
read so she got out of her comfort zone you know here’s where the comfort zone
you know here’s where the comfort zone
you know here’s where the comfort zone is and here’s where the magic happens
is and here’s where the magic happens
is and here’s where the magic happens and they are not the same place so of
and they are not the same place so of
and they are not the same place so of all the entrepreneurs that I interviewed
all the entrepreneurs that I interviewed
all the entrepreneurs that I interviewed 200 of them in fact what I started
200 of them in fact what I started
200 of them in fact what I started learning was they got comfortable being
learning was they got comfortable being
learning was they got comfortable being uncomfortable they didn’t stay in their
uncomfortable they didn’t stay in their
uncomfortable they didn’t stay in their comfort zone they pushed forward that
comfort zone they pushed forward that
comfort zone they pushed forward that pit in your stomach they thought ok this
pit in your stomach they thought ok this
pit in your stomach they thought ok this means I’m building something important
means I’m building something important
means I’m building something important I’m gonna put something into the world
I’m gonna put something into the world
I’m gonna put something into the world that people really need now it’s not an
that people really need now it’s not an
that people really need now it’s not an innate ability to think like an
innate ability to think like an
innate ability to think like an entrepreneur people are not just born
entrepreneur people are not just born
entrepreneur people are not just born thinking like entrepreneurs they work at
thinking like entrepreneurs they work at
thinking like entrepreneurs they work at it and I’d like to share three of the
it and I’d like to share three of the
it and I’d like to share three of the skills that come out of my research and
skills that come out of my research and
skills that come out of my research and the important thing here is they apply
the important thing here is they apply
the important thing here is they apply to each and every one of us we can all
to each and every one of us we can all
to each and every one of us we can all think like an entrepreneur the first is
think like an entrepreneur the first is
think like an entrepreneur the first is fly the OODA loop so this stands for
fly the OODA loop so this stands for
fly the OODA loop so this stands for observe orient decide act it’s
observe orient decide act it’s
observe orient decide act it’s originally a fighter pilot mantra and I
originally a fighter pilot mantra and I
originally a fighter pilot mantra and I have a very good friend who’s a fighter
have a very good friend who’s a fighter
have a very good friend who’s a fighter pilot West Hallman he told me if you
pilot West Hallman he told me if you
pilot West Hallman he told me if you want to think like an entrepreneur you
want to think like an entrepreneur you
want to think like an entrepreneur you think like a fighter pilot and here’s
think like a fighter pilot and here’s
think like a fighter pilot and here’s why if you can get inside the loop the
why if you can get inside the loop the
why if you can get inside the loop the decision circle you can observe orient
decision circle you can observe orient
decision circle you can observe orient decide and act faster than a competitor
decide and act faster than a competitor
decide and act faster than a competitor you can win in a dogfight right a
you can win in a dogfight right a
you can win in a dogfight right a competitor is reacting to a landscape
competitor is reacting to a landscape
competitor is reacting to a landscape that’s already changed you took a
that’s already changed you took a
that’s already changed you took a decision you took an action there a
decision you took an action there a
decision you took an action there a split-second behind that’s the same in a
split-second behind that’s the same in a
split-second behind that’s the same in a really entrepreneurial world and we live
really entrepreneurial world and we live
really entrepreneurial world and we live in an entrepreneurial world an example
in an entrepreneurial world an example
in an entrepreneurial world an example is a fabulous one is PayPal so Max
is a fabulous one is PayPal so Max
is a fabulous one is PayPal so Max Levchin Peter Thiel and Elon Musk come
Levchin Peter Thiel and Elon Musk come
Levchin Peter Thiel and Elon Musk come together and they start PayPal we all
together and they start PayPal we all
together and they start PayPal we all know what that is today but they go
know what that is today but they go
know what that is today but they go through six different business models
through six different business models
through six different business models right six different things they try in a
right six different things they try in a
right six different things they try in a year and a half in eighteen months
year and a half in eighteen months
year and a half in eighteen months they’re moving through as quick as they
they’re moving through as quick as they
they’re moving through as quick as they can observing orienting deciding and
can observing orienting deciding and
can observing orienting deciding and acting they raise money on a technology
acting they raise money on a technology
acting they raise money on a technology where they could beam cash between Palm
where they could beam cash between Palm
where they could beam cash between Palm Pilots I don’t know how many people
Pilots I don’t know how many people
Pilots I don’t know how many people remember the Palm Pilot that’s gone
remember the Palm Pilot that’s gone
remember the Palm Pilot that’s gone PayPal is still around right one of the
PayPal is still around right one of the
PayPal is still around right one of the things they observed was that people on
things they observed was that people on
things they observed was that people on eBay we’re trying to transact and they
eBay we’re trying to transact and they
eBay we’re trying to transact and they were using this demo website you know to
were using this demo website you know to
were using this demo website you know to support the beaming product at any rate
support the beaming product at any rate
support the beaming product at any rate PayPal moved to create an online
PayPal moved to create an online
PayPal moved to create an online currency then eBay bought a competitor
currency then eBay bought a competitor
currency then eBay bought a competitor they had so many more resources people
they had so many more resources people
they had so many more resources people money still the PayPal team moved faster
money still the PayPal team moved faster
money still the PayPal team moved faster at one point Visa credit card company
at one point Visa credit card company
at one point Visa credit card company tried to sue with a PayPal startup
tried to sue with a PayPal startup
tried to sue with a PayPal startup saying now you’re in our credit card
saying now you’re in our credit card
saying now you’re in our credit card business and what they did was convinced
business and what they did was convinced
business and what they did was convinced Visa to just study the problem for 12
Visa to just study the problem for 12
Visa to just study the problem for 12 months okay never study the problem
months okay never study the problem
months okay never study the problem because while visa is studying the
because while visa is studying the
because while visa is studying the problem the PayPal team’s observing Oren
problem the PayPal team’s observing Oren
problem the PayPal team’s observing Oren team deciding acting in winning in the
team deciding acting in winning in the
team deciding acting in winning in the marketplace so they sell to eBay now the
marketplace so they sell to eBay now the
marketplace so they sell to eBay now the much more interesting thing is what
much more interesting thing is what
much more interesting thing is what happens next the original twelve to
happens next the original twelve to
happens next the original twelve to eighteen people at PayPal they go on to
eighteen people at PayPal they go on to
eighteen people at PayPal they go on to seed the entire next wave of the
seed the entire next wave of the
seed the entire next wave of the internet they are the founders of
internet they are the founders of
internet they are the founders of YouTube LinkedIn Yelp slide Digg Tesla
YouTube LinkedIn Yelp slide Digg Tesla
YouTube LinkedIn Yelp slide Digg Tesla Motors they certainly start SpaceX they
Motors they certainly start SpaceX they
Motors they certainly start SpaceX they founders fund 500 startups they’re the
founders fund 500 startups they’re the
founders fund 500 startups they’re the first money invested behind Mark
first money invested behind Mark
first money invested behind Mark Zuckerberg at Facebook
Zuckerberg at Facebook
Zuckerberg at Facebook they literally seed the entire next wave
they literally seed the entire next wave
they literally seed the entire next wave when you spend time with them I’ve spent
when you spend time with them I’ve spent
when you spend time with them I’ve spent time with all of these founders you say
time with all of these founders you say
time with all of these founders you say how is that possible you didn’t just do
how is that possible you didn’t just do
how is that possible you didn’t just do it once but you did it
it once but you did it
it once but you did it you fanned out and did it over and over
you fanned out and did it over and over
you fanned out and did it over and over again and what they’ll say is the first
again and what they’ll say is the first
again and what they’ll say is the first thing you think yeah that’s not it you
thing you think yeah that’s not it you
thing you think yeah that’s not it you have to observe orient decide act you
have to observe orient decide act you
have to observe orient decide act you have to keep moving so
have to keep moving so
have to keep moving so Jeremy Stoppelman at Yelp he said you
Jeremy Stoppelman at Yelp he said you
Jeremy Stoppelman at Yelp he said you have to look for a counterintuitive blip
have to look for a counterintuitive blip
have to look for a counterintuitive blip of data something that doesn’t make
of data something that doesn’t make
of data something that doesn’t make sense and follow it so Yelp was started
sense and follow it so Yelp was started
sense and follow it so Yelp was started as an email referral system and they did
as an email referral system and they did
as an email referral system and they did not think anyone would want to write a
not think anyone would want to write a
not think anyone would want to write a review Jeremy did not think that would
review Jeremy did not think that would
review Jeremy did not think that would be fun and then what he found out is
be fun and then what he found out is
be fun and then what he found out is everyone wants to review the nail salon
everyone wants to review the nail salon
everyone wants to review the nail salon the restaurant the dry cleaner and so
the restaurant the dry cleaner and so
the restaurant the dry cleaner and so they quickly moved and said okay Yelp
they quickly moved and said okay Yelp
they quickly moved and said okay Yelp will be a review site YouTube was
will be a review site YouTube was
will be a review site YouTube was started for video dating this was a
started for video dating this was a
started for video dating this was a video dating startup until they shot
video dating startup until they shot
video dating startup until they shot video at a local zoo they were just
video at a local zoo they were just
video at a local zoo they were just practicing uploading and shooting video
practicing uploading and shooting video
practicing uploading and shooting video and everyone started watching the video
and everyone started watching the video
and everyone started watching the video of an elephant okay if you’re doing a
of an elephant okay if you’re doing a
of an elephant okay if you’re doing a video dating site that doesn’t make
video dating site that doesn’t make
video dating site that doesn’t make sense but if you really quickly move to
sense but if you really quickly move to
sense but if you really quickly move to observe that take decisions take actions
observe that take decisions take actions
observe that take decisions take actions we know what YouTube is today it’s the
we know what YouTube is today it’s the
we know what YouTube is today it’s the website where you can see all things
website where you can see all things
website where you can see all things video all the cat videos you want to see
video all the cat videos you want to see
video all the cat videos you want to see in the world right there there so these
in the world right there there so these
in the world right there there so these are successful entrepreneurs but they
are successful entrepreneurs but they
are successful entrepreneurs but they have absolutely moved through different
have absolutely moved through different
have absolutely moved through different decision cycles it’s about thinking like
decision cycles it’s about thinking like
decision cycles it’s about thinking like an entrepreneur and every single one of
an entrepreneur and every single one of
an entrepreneur and every single one of us can do that this is an important
us can do that this is an important
us can do that this is an important point so if you are going to be flying
point so if you are going to be flying
point so if you are going to be flying an Oda loop you have to have a fierce
an Oda loop you have to have a fierce
an Oda loop you have to have a fierce team with you you need a wingman you
team with you you need a wingman you
team with you you need a wingman you need a wingwoman so there’s great
need a wingwoman so there’s great
need a wingwoman so there’s great research out of Northwestern and says if
research out of Northwestern and says if
research out of Northwestern and says if you want to solve a problem alone you
you want to solve a problem alone you
you want to solve a problem alone you can do that a lot of people try to solve
can do that a lot of people try to solve
can do that a lot of people try to solve problems alone and your success rate is
problems alone and your success rate is
problems alone and your success rate is about 44% if you get other like-minded
about 44% if you get other like-minded
about 44% if you get other like-minded people and many of us try to gravitate
people and many of us try to gravitate
people and many of us try to gravitate right towards our friends then you can
right towards our friends then you can
right towards our friends then you can solve a problem a little bit better at
solve a problem a little bit better at
solve a problem a little bit better at about 54% of the time if you bring in an
about 54% of the time if you bring in an
about 54% of the time if you bring in an outsider someone who thinks totally
outsider someone who thinks totally
outsider someone who thinks totally differently your solve rate goes up
differently your solve rate goes up
differently your solve rate goes up significantly and you solve
significantly and you solve
significantly and you solve approximately 75% now here’s the
approximately 75% now here’s the
approximately 75% now here’s the counterintuitive take away from this
counterintuitive take away from this
counterintuitive take away from this here’s the surprise it’s not because of
here’s the surprise it’s not because of
here’s the surprise it’s not because of the person who’s diverse who comes from
the person who’s diverse who comes from
the person who’s diverse who comes from the outside it’s because each single
the outside it’s because each single
the outside it’s because each single person raises their game when we think
person raises their game when we think
person raises their game when we think we’re going to be challenged
we’re going to be challenged
we’re going to be challenged by someone who disagrees with us who
by someone who disagrees with us who
by someone who disagrees with us who gets out of the comfort zone who
gets out of the comfort zone who
gets out of the comfort zone who challenges the status quo we do our
challenges the status quo we do our
challenges the status quo we do our homework we show up prepared we’re more
homework we show up prepared we’re more
homework we show up prepared we’re more focused on the problem we’re more
focused on the problem we’re more
focused on the problem we’re more willing to articulate a point of view so
willing to articulate a point of view so
willing to articulate a point of view so having an outsider come in actually
having an outsider come in actually
having an outsider come in actually raises our own performance it’s
raises our own performance it’s
raises our own performance it’s something really important to think
something really important to think
something really important to think about it’s uncomfortable but it makes us
about it’s uncomfortable but it makes us
about it’s uncomfortable but it makes us stand a little taller and do a little
stand a little taller and do a little
stand a little taller and do a little bit better all right not just flying the
bit better all right not just flying the
bit better all right not just flying the Ute aloof but failing wisely is
Ute aloof but failing wisely is
Ute aloof but failing wisely is important so if you think like an
important so if you think like an
important so if you think like an entrepreneur it doesn’t mean that you’re
entrepreneur it doesn’t mean that you’re
entrepreneur it doesn’t mean that you’re never going to fail in fact the
never going to fail in fact the
never going to fail in fact the entrepreneurs that I interviewed in this
entrepreneurs that I interviewed in this
entrepreneurs that I interviewed in this research project they are failing all
research project they are failing all
research project they are failing all the time but they’re failing wisely so
the time but they’re failing wisely so
the time but they’re failing wisely so what does that mean it means they’re
what does that mean it means they’re
what does that mean it means they’re setting a ratio right one in five things
setting a ratio right one in five things
setting a ratio right one in five things I try won’t work that’s what I’m going
I try won’t work that’s what I’m going
I try won’t work that’s what I’m going for
for
for or one in ten things and different
or one in ten things and different
or one in ten things and different people will set different failure ratios
people will set different failure ratios
people will set different failure ratios the idea is that you don’t want a zero
the idea is that you don’t want a zero
the idea is that you don’t want a zero ratio a zero ratio means a perfect
ratio a zero ratio means a perfect
ratio a zero ratio means a perfect record and that means you haven’t tried
record and that means you haven’t tried
record and that means you haven’t tried something new you haven’t actually
something new you haven’t actually
something new you haven’t actually pushed into the innovation curve so this
pushed into the innovation curve so this
pushed into the innovation curve so this is Jessica Heron she’s found her Stellan
is Jessica Heron she’s found her Stellan
is Jessica Heron she’s found her Stellan dot previously the founder of wedding
dot previously the founder of wedding
dot previously the founder of wedding channel comm and what she says is one in
channel comm and what she says is one in
channel comm and what she says is one in three that’s four ratio one in three
three that’s four ratio one in three
three that’s four ratio one in three things she tries won’t work and that’s
things she tries won’t work and that’s
things she tries won’t work and that’s what she’s going for at Stella and I’d
what she’s going for at Stella and I’d
what she’s going for at Stella and I’d she’s got a workforce of stylist it’s a
she’s got a workforce of stylist it’s a
she’s got a workforce of stylist it’s a woman’s direct selling company and she
woman’s direct selling company and she
woman’s direct selling company and she just tells the stylist you know give me
just tells the stylist you know give me
just tells the stylist you know give me the feedback as fast as possible love it
the feedback as fast as possible love it
the feedback as fast as possible love it or lose it love this product lose it out
or lose it love this product lose it out
or lose it love this product lose it out of our inventory and they will lose one
of our inventory and they will lose one
of our inventory and they will lose one third and that’s success for Jess at
third and that’s success for Jess at
third and that’s success for Jess at Google Eric Schmidt instituted a
Google Eric Schmidt instituted a
Google Eric Schmidt instituted a 70-20-10 ratio right 70 percent of your
70-20-10 ratio right 70 percent of your
70-20-10 ratio right 70 percent of your time on core business 20% of your time
time on core business 20% of your time
time on core business 20% of your time on side business-related 10% on total
on side business-related 10% on total
on side business-related 10% on total moonshots that 10% is most likely
moonshots that 10% is most likely
moonshots that 10% is most likely failure but it also may produce just
failure but it also may produce just
failure but it also may produce just spectacularly wonderful results now
spectacularly wonderful results now
spectacularly wonderful results now we’ve talked a little bit about
we’ve talked a little bit about
we’ve talked a little bit about incremental failure but what if you
incremental failure but what if you
incremental failure but what if you absolutely run into a catastrophic
absolutely run into a catastrophic
absolutely run into a catastrophic failure
failure
failure what if you’re the captain of the
what if you’re the captain of the
what if you’re the captain of the Titanic you hit an iceberg that is a
Titanic you hit an iceberg that is a
Titanic you hit an iceberg that is a really big problem the Titanic had 2,200
really big problem the Titanic had 2,200
really big problem the Titanic had 2,200 people on board they had 16 lifeboats
people on board they had 16 lifeboats
people on board they had 16 lifeboats okay what are you gonna do we all know
okay what are you gonna do we all know
okay what are you gonna do we all know what happened in this story right in two
what happened in this story right in two
what happened in this story right in two hours and 40 minutes the Titanic sank
hours and 40 minutes the Titanic sank
hours and 40 minutes the Titanic sank only 705 people survived less than a
only 705 people survived less than a
only 705 people survived less than a third of the people survived but what if
third of the people survived but what if
third of the people survived but what if you could think like an entrepreneur
you could think like an entrepreneur
you could think like an entrepreneur what if you could be resourceful even in
what if you could be resourceful even in
what if you could be resourceful even in that terribly desperate moment what if
that terribly desperate moment what if
that terribly desperate moment what if you could think to yourself hmm what do
you could think to yourself hmm what do
you could think to yourself hmm what do I have on this boat that will keep
I have on this boat that will keep
I have on this boat that will keep people alive there were tables wooden
people alive there were tables wooden
people alive there were tables wooden tables lots of them those would stay
tables lots of them those would stay
tables lots of them those would stay afloat you could use deck chairs as
afloat you could use deck chairs as
afloat you could use deck chairs as paddles you could use the car tires
paddles you could use the car tires
paddles you could use the car tires there were cars and trucks aboard as
there were cars and trucks aboard as
there were cars and trucks aboard as floating inner tubes what if you could
floating inner tubes what if you could
floating inner tubes what if you could even use the iceberg as an island the
even use the iceberg as an island the
even use the iceberg as an island the iceberg was known to be about 400 feet
iceberg was known to be about 400 feet
iceberg was known to be about 400 feet long and it was not going to sink what
long and it was not going to sink what
long and it was not going to sink what if you could use your life boats as
if you could use your life boats as
if you could use your life boats as ferry boats and ferry passengers over to
ferry boats and ferry passengers over to
ferry boats and ferry passengers over to stand on the ice Island there would have
stand on the ice Island there would have
stand on the ice Island there would have been ways to save lives if you could
been ways to save lives if you could
been ways to save lives if you could think in a different way you know I used
think in a different way you know I used
think in a different way you know I used this example a couple weeks ago I was
this example a couple weeks ago I was
this example a couple weeks ago I was teaching at Stanford we were teaching
teaching at Stanford we were teaching
teaching at Stanford we were teaching executive education to Hispanic
executive education to Hispanic
executive education to Hispanic entrepreneurs and this is a case the
entrepreneurs and this is a case the
entrepreneurs and this is a case the Harvard Business Review has recently put
Harvard Business Review has recently put
Harvard Business Review has recently put forward we were talking about it how can
forward we were talking about it how can
forward we were talking about it how can you be resourceful how can you fail
you be resourceful how can you fail
you be resourceful how can you fail wisely and one of the Hispanic
wisely and one of the Hispanic
wisely and one of the Hispanic entrepreneurs came up to me so excited
entrepreneurs came up to me so excited
entrepreneurs came up to me so excited at the end of the day and said I run a
at the end of the day and said I run a
at the end of the day and said I run a company out of Chicago I ran a legacy
company out of Chicago I ran a legacy
company out of Chicago I ran a legacy construction business and we are
construction business and we are
construction business and we are struggling and now I think I could fail
struggling and now I think I could fail
struggling and now I think I could fail wisely I could repurpose some parts of
wisely I could repurpose some parts of
wisely I could repurpose some parts of my company I could repurpose some of the
my company I could repurpose some of the
my company I could repurpose some of the resources that I own I can also go back
resources that I own I can also go back
resources that I own I can also go back to Chicago and I can think like an
to Chicago and I can think like an
to Chicago and I can think like an entrepreneur
entrepreneur
entrepreneur that is really exciting and that’s what
that is really exciting and that’s what
that is really exciting and that’s what gets me you know so thrilled with this
gets me you know so thrilled with this
gets me you know so thrilled with this dataset and with the skills every single
dataset and with the skills every single
dataset and with the skills every single person can hopefully take them and
person can hopefully take them and
person can hopefully take them and improve the kind of work that they’re
improve the kind of work that they’re
improve the kind of work that they’re doing now it’s not only flying a noodle
doing now it’s not only flying a noodle
doing now it’s not only flying a noodle loop and failing wisely but another
loop and failing wisely but another
loop and failing wisely but another skill that I really think is important
skill that I really think is important
skill that I really think is important is what I’m calling gift small goods so
is what I’m calling gift small goods so
is what I’m calling gift small goods so what’s a small good right it’s a small
what’s a small good right it’s a small
what’s a small good right it’s a small kindness it’s something of value that
kindness it’s something of value that
kindness it’s something of value that you can do for someone else it’s a
you can do for someone else it’s a
you can do for someone else it’s a five-minute favor right so what does
five-minute favor right so what does
five-minute favor right so what does that look like you could write a few
that look like you could write a few
that look like you could write a few lines of code you could critique a
lines of code you could critique a
lines of code you could critique a proposal you could forward a resume you
proposal you could forward a resume you
proposal you could forward a resume you could make an introduction little things
could make an introduction little things
could make an introduction little things that we can do creates huge opportunity
that we can do creates huge opportunity
that we can do creates huge opportunity for other people now why is it important
for other people now why is it important
for other people now why is it important to do well it’s always been sort of
to do well it’s always been sort of
to do well it’s always been sort of morally right to help out your
morally right to help out your
morally right to help out your colleagues but we’ve had a saying nice
colleagues but we’ve had a saying nice
colleagues but we’ve had a saying nice guys finish last
guys finish last
guys finish last okay here’s the really interesting thing
okay here’s the really interesting thing
okay here’s the really interesting thing about technology now nice guys finish
about technology now nice guys finish
about technology now nice guys finish first and the reason is your reputation
first and the reason is your reputation
first and the reason is your reputation will be known it will be transparent if
will be known it will be transparent if
will be known it will be transparent if you are gifting small goods you will be
you are gifting small goods you will be
you are gifting small goods you will be helping those around you and other
helping those around you and other
helping those around you and other people will hear about it information
people will hear about it information
people will hear about it information will come to you people will want to
will come to you people will want to
will come to you people will want to work with you
work with you
work with you talent will come your way deal flow will
talent will come your way deal flow will
talent will come your way deal flow will come your way that actually makes you a
come your way that actually makes you a
come your way that actually makes you a lot more productive the opposite is also
lot more productive the opposite is also
lot more productive the opposite is also true if you are hoarding resources if
true if you are hoarding resources if
true if you are hoarding resources if you’re cheating people if you’re
you’re cheating people if you’re
you’re cheating people if you’re harassing people we will know about that
harassing people we will know about that
harassing people we will know about that and this is changing just in the last
and this is changing just in the last
and this is changing just in the last few years the speed of communication and
few years the speed of communication and
few years the speed of communication and the transparency of our reputation means
the transparency of our reputation means
the transparency of our reputation means that we will know so it’s in your
that we will know so it’s in your
that we will know so it’s in your self-interest to be gifting small goods
self-interest to be gifting small goods
self-interest to be gifting small goods and generously helping and assisting
and generously helping and assisting
and generously helping and assisting those around you now the person that I
those around you now the person that I
those around you now the person that I know who does this best especially in
know who does this best especially in
know who does this best especially in all of the 200 interviews I did is a man
all of the 200 interviews I did is a man
all of the 200 interviews I did is a man named Bob Langer and when people ask me
named Bob Langer and when people ask me
named Bob Langer and when people ask me who would you like to be most like in
who would you like to be most like in
who would you like to be most like in all of those interviews that you did I
all of those interviews that you did I
all of those interviews that you did I say I would like to be like Bob Langer
say I would like to be like Bob Langer
say I would like to be like Bob Langer and here’s the reason why he has a
and here’s the reason why he has a
and here’s the reason why he has a reputation for integrity and he creates
reputation for integrity and he creates
reputation for integrity and he creates tremendous opportunity for everyone
tremendous opportunity for everyone
tremendous opportunity for everyone around him now I’m never gonna be a
around him now I’m never gonna be a
around him now I’m never gonna be a chemical engineer he’s a scientist
chemical engineer he’s a scientist
chemical engineer he’s a scientist he runs a the world’s largest bio
he runs a the world’s largest bio
he runs a the world’s largest bio technology engineering lab it’s at MIT
technology engineering lab it’s at MIT
technology engineering lab it’s at MIT he has co-founded 40 companies that have
he has co-founded 40 companies that have
he has co-founded 40 companies that have scaled up he has 350 different licenses
scaled up he has 350 different licenses
scaled up he has 350 different licenses with pharmaceutical companies you know
with pharmaceutical companies you know
with pharmaceutical companies you know close to a hundred thousand three
close to a hundred thousand three
close to a hundred thousand three hundred papers that are published he is
hundred papers that are published he is
hundred papers that are published he is putting into the world some of the
putting into the world some of the
putting into the world some of the greatest technologies to stop human
greatest technologies to stop human
greatest technologies to stop human suffering
suffering
suffering that’s what Bob’s trying to do and as he
that’s what Bob’s trying to do and as he
that’s what Bob’s trying to do and as he does it he brings along so many other
does it he brings along so many other
does it he brings along so many other people when you ask him what he’s most
people when you ask him what he’s most
people when you ask him what he’s most proud of he says my students you know
proud of he says my students you know
proud of he says my students you know they’re kind of like my kids
they’re kind of like my kids
they’re kind of like my kids I’m so proud as they succeed in the
I’m so proud as they succeed in the
I’m so proud as they succeed in the world now bob has succeeded himself we
world now bob has succeeded himself we
world now bob has succeeded himself we don’t necessarily know his name but all
don’t necessarily know his name but all
don’t necessarily know his name but all of the things that he’s done we do know
of the things that he’s done we do know
of the things that he’s done we do know about he’s the pioneer of human tissue
about he’s the pioneer of human tissue
about he’s the pioneer of human tissue engineering he’s the pioneer of many of
engineering he’s the pioneer of many of
engineering he’s the pioneer of many of the cancer delivery drugs most all of
the cancer delivery drugs most all of
the cancer delivery drugs most all of them in fact he’s even making synthetic
them in fact he’s even making synthetic
them in fact he’s even making synthetic vocal cords so that Julie Andrews of the
vocal cords so that Julie Andrews of the
vocal cords so that Julie Andrews of the sound of music might sing again there
sound of music might sing again there
sound of music might sing again there are so many wonderful things that he’s
are so many wonderful things that he’s
are so many wonderful things that he’s bringing into the world he says that
bringing into the world he says that
bringing into the world he says that it’s important to some gift small goods
it’s important to some gift small goods
it’s important to some gift small goods and support other people because in his
and support other people because in his
and support other people because in his own career he had a rocky start he had a
own career he had a rocky start he had a
own career he had a rocky start he had a PhD from MIT and Chemical Engineering
PhD from MIT and Chemical Engineering
PhD from MIT and Chemical Engineering but he wanted to teach high school and
but he wanted to teach high school and
but he wanted to teach high school and he sent out 40 letters and he got 40
he sent out 40 letters and he got 40
he sent out 40 letters and he got 40 rejections and then he thought okay
rejections and then he thought okay
rejections and then he thought okay maybe I could be an engineer in the
maybe I could be an engineer in the
maybe I could be an engineer in the medical space and he started sending
medical space and he started sending
medical space and he started sending resumes and calling absolutely no one
resumes and calling absolutely no one
resumes and calling absolutely no one responded until one person did a man
responded until one person did a man
responded until one person did a man named Judah Folkman and he was a Boston
named Judah Folkman and he was a Boston
named Judah Folkman and he was a Boston Children’s Hospital and Folkman gave Bob
Children’s Hospital and Folkman gave Bob
Children’s Hospital and Folkman gave Bob Langer a first opportunity and supported
Langer a first opportunity and supported
Langer a first opportunity and supported him Folkman was a cancer surgeon and
him Folkman was a cancer surgeon and
him Folkman was a cancer surgeon and that’s where most of
that’s where most of
that’s where most of Bob Langer’s work has been applied so
Bob Langer’s work has been applied so
Bob Langer’s work has been applied so Bob Langer has said you know so many
Bob Langer has said you know so many
Bob Langer has said you know so many opportunities were created by this one
opportunities were created by this one
opportunities were created by this one person from him it said him on his whole
person from him it said him on his whole
person from him it said him on his whole path to doing what he’s doing so the
path to doing what he’s doing so the
path to doing what he’s doing so the question for all of us is who are we
question for all of us is who are we
question for all of us is who are we helping you know who who are we bringing
helping you know who who are we bringing
helping you know who who are we bringing along who are we pushing forward in the
along who are we pushing forward in the
along who are we pushing forward in the world if we want to create things the
world if we want to create things the
world if we want to create things the world hasn’t seen it’s difficult to do
world hasn’t seen it’s difficult to do
world hasn’t seen it’s difficult to do and I believe life is a search for
and I believe life is a search for
and I believe life is a search for allies we have to go out and help each
allies we have to go out and help each
allies we have to go out and help each other that brings me back to all of the
other that brings me back to all of the
other that brings me back to all of the people who’ve helped me there have been
people who’ve helped me there have been
people who’ve helped me there have been many along this path starting with my
many along this path starting with my
many along this path starting with my grandmother you know I really do think
grandmother you know I really do think
grandmother you know I really do think she’s an embodiment of what Eleanor
she’s an embodiment of what Eleanor
she’s an embodiment of what Eleanor Roosevelt said which is the future
Roosevelt said which is the future
Roosevelt said which is the future belongs to those who believe in the
belongs to those who believe in the
belongs to those who believe in the beauty of their dreams Nadine has
beauty of their dreams Nadine has
beauty of their dreams Nadine has definitely lived that for many years now
definitely lived that for many years now
definitely lived that for many years now I believe that the future belongs to
I believe that the future belongs to
I believe that the future belongs to those not only who believe in the beauty
those not only who believe in the beauty
those not only who believe in the beauty of their dreams but those who will take
of their dreams but those who will take
of their dreams but those who will take action and those who will make their
action and those who will make their
action and those who will make their dreams a reality
dreams a reality
dreams a reality so may you go into the world and think
so may you go into the world and think
so may you go into the world and think like an entrepreneur and may you use
like an entrepreneur and may you use
like an entrepreneur and may you use that ability to benefit the world thank
that ability to benefit the world thank
that ability to benefit the world thank you
you
you [Applause]
”
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