Take risks and commit to something to create value and wealth, while also having strong opinions and being flexible to achieve success.

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  00:00

  Take time to think about what you're good at, what you enjoy, and how you can create value for the world, and be willing to move to find your career tribe.

  • Find the intersection of what you're good at, what you enjoy, and what you can create value for the world to have an impact.
  • It is beneficial to take time to think about what you are good at, what you like, and how you can create value for the world.
  • Advise people to select collaborators carefully.
  • Be willing to move to find your career tribe.
  • Focus, personal connections, and self-belief are key to accomplishing big things, and work-life balance is important in your 20s.
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  04:04

  Making an internal decision to quit or keep going when you've run out of ideas is key to achieving long-term success in your career.

  • Maximizing chances for success in the beginning of your career is key to achieving long-term success.
  • Most people give up on things too early, so it's challenging to know when to quit and when to keep going.
  • Most startups take a long time and require perseverance to succeed despite criticism and lack of interest.
  • Entrepreneurs should make an internal decision to give up or keep working on something when they have run out of ideas and something is not working.
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  07:35

  Find satisfaction in what you do, believe it matters, and like the people you work with to sustain motivation and avoid burnout.

  • To sustain motivation over a long period of time, one must derive satisfaction from what they are doing and believe it matters, as well as liking the people they work with.
  • I'm only interested in things I find interesting and important, and money and press are not big motivators.
  • Burnout comes from failing and lack of momentum, while momentum is energizing and can lead to success.
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  10:23

  Take calculated risks to pursue your passions and commit to something for success, rather than avoiding failure and not taking action.

  • People often underestimate the amount of risk they can take early in their career and should take calculated risks to pursue their passions.
  • Taking risks and committing to something is important for success, rather than avoiding failure and not taking action.
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  12:19

  Take risks and ask for what you want - each crisis gets easier and you can survive them to create a better future.

  • People should take risks and commit to what they have conviction on, instead of avoiding failure by not asking for what they want.
  • Be willing to ask for what you want and be aggressive, as each crisis gets less scary than the one before it.
  • You can survive crises and figure out a way, and a story of grandma giving stock illustrates the long-term view of money.
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  15:02

  Investing in the long-term can create value and wealth, so make a commitment to your startup for the long-term.

  • We each got an equal amount of Apple and Apple B's stock 20 years ago and neither of us has sold it yet.
  • Investing in the long-term can provide an arbitrage opportunity, as we have become better at short-term trading but worse at understanding long-term value.
  • Investing in the best companies for the long-term creates value and wealth, and founders should make a long-term commitment to their startups to capture the most value.
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  17:51

  Have strong opinions & be flexible for better results than randomly trying ideas.

  • Start with a strong belief and be flexible in implementation for better results than randomly trying ideas.
  • It is good to have strong opinions about the future and it is okay to not be overly diversified in investments, career, and life.
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  20:00

  It is important to think hard about where you can make the biggest contribution, learn as much as you can, and take a risk to try to impact the world in a way that you care about.