[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:08.09,0:00:10.29,Default,,0000,0000,0000,,I try and make anything I do as relevant
Dialogue: 0,0:00:10.29,0:00:13.68,Default,,0000,0000,0000,,to the people who are listening\Nto me at that moment,
Dialogue: 0,0:00:13.68,0:00:15.28,Default,,0000,0000,0000,,so where are you guys?
Dialogue: 0,0:00:15.28,0:00:16.96,Default,,0000,0000,0000,,How many of you are undergrads?
Dialogue: 0,0:00:16.96,0:00:17.96,Default,,0000,0000,0000,,Show of hands.
Dialogue: 0,0:00:17.96,0:00:19.43,Default,,0000,0000,0000,,Virtually everyone, oh my God.
Dialogue: 0,0:00:19.43,0:00:20.44,Default,,0000,0000,0000,,Let's do that again.
Dialogue: 0,0:00:20.44,0:00:21.88,Default,,0000,0000,0000,,How many of you are seniors?
Dialogue: 0,0:00:22.84,0:00:23.84,Default,,0000,0000,0000,,Juniors?
Dialogue: 0,0:00:23.84,0:00:24.84,Default,,0000,0000,0000,,(Cheering)
Dialogue: 0,0:00:24.84,0:00:25.95,Default,,0000,0000,0000,,Sophomores?
Dialogue: 0,0:00:25.95,0:00:26.96,Default,,0000,0000,0000,,(Cheering)
Dialogue: 0,0:00:26.96,0:00:28.30,Default,,0000,0000,0000,,And freshmen?
Dialogue: 0,0:00:28.30,0:00:30.56,Default,,0000,0000,0000,,All right. Good stuff.
Dialogue: 0,0:00:30.56,0:00:33.68,Default,,0000,0000,0000,,I'm going to talk to you\Nas if you're juniors.
Dialogue: 0,0:00:33.68,0:00:36.60,Default,,0000,0000,0000,,I'm just going to land\Nin the middle somewhere.
Dialogue: 0,0:00:36.60,0:00:37.72,Default,,0000,0000,0000,,It's all good.
Dialogue: 0,0:00:37.72,0:00:40.51,Default,,0000,0000,0000,,So, the theme is going to be\Nthe flow of talent.
Dialogue: 0,0:00:43.56,0:00:47.12,Default,,0000,0000,0000,,The graphic that kicks us off,\Nif I can get this thing to go -
Dialogue: 0,0:00:49.34,0:00:51.26,Default,,0000,0000,0000,,Hey, Mike, where do I point this thing?
Dialogue: 0,0:00:52.52,0:00:53.90,Default,,0000,0000,0000,,Sorry.
Dialogue: 0,0:00:54.75,0:00:55.92,Default,,0000,0000,0000,,Thank you.
Dialogue: 0,0:00:57.07,0:00:58.50,Default,,0000,0000,0000,,Or should I click this thing?
Dialogue: 0,0:01:00.26,0:01:03.36,Default,,0000,0000,0000,,This is the graphic we're going to use\Nto kick off the discussion.
Dialogue: 0,0:01:03.36,0:01:04.99,Default,,0000,0000,0000,,For those of you who are seniors,
Dialogue: 0,0:01:04.99,0:01:07.54,Default,,0000,0000,0000,,this might be more familiar\Nthan if you're a freshmen.
Dialogue: 0,0:01:08.10,0:01:09.58,Default,,0000,0000,0000,,So what this graphic represents
Dialogue: 0,0:01:09.58,0:01:13.14,Default,,0000,0000,0000,,is that it's a lot easier\Nfor a young, smart person right now
Dialogue: 0,0:01:13.14,0:01:15.11,Default,,0000,0000,0000,,to become a banker, consultant, or lawyer
Dialogue: 0,0:01:15.11,0:01:17.54,Default,,0000,0000,0000,,than it is to do just about anything else.
Dialogue: 0,0:01:17.54,0:01:18.96,Default,,0000,0000,0000,,I resemble this.
Dialogue: 0,0:01:18.96,0:01:22.26,Default,,0000,0000,0000,,I graduated from Brown in '96,\Nand did not know what I wanted to do.
Dialogue: 0,0:01:22.26,0:01:25.42,Default,,0000,0000,0000,,So I went to law school,\Nwhich clarifies absolutely nothing.
Dialogue: 0,0:01:25.42,0:01:26.42,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:01:26.42,0:01:28.88,Default,,0000,0000,0000,,For those of you who are thinking\Nabout law school,
Dialogue: 0,0:01:28.88,0:01:31.58,Default,,0000,0000,0000,,you should know that awaits\Nif you do that.
Dialogue: 0,0:01:31.96,0:01:33.84,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:01:34.04,0:01:37.58,Default,,0000,0000,0000,,I graduated from law school and,\Nnot knowing what I wanted to do still,
Dialogue: 0,0:01:37.58,0:01:39.98,Default,,0000,0000,0000,,I became an M&A and banking\Nattorney in New York,
Dialogue: 0,0:01:39.98,0:01:42.00,Default,,0000,0000,0000,,because that's what you did\Nout of Columbia
Dialogue: 0,0:01:42.00,0:01:43.51,Default,,0000,0000,0000,,if you didn't know what to do.
Dialogue: 0,0:01:44.46,0:01:46.41,Default,,0000,0000,0000,,I was there for about five months.
Dialogue: 0,0:01:46.41,0:01:49.43,Default,,0000,0000,0000,,I went home dispirited\Nthat Thanksgiving, to my parents.
Dialogue: 0,0:01:49.80,0:01:51.52,Default,,0000,0000,0000,,I said, "You know, Mom and Dad,
Dialogue: 0,0:01:51.52,0:01:55.08,Default,,0000,0000,0000,,when I was young, I didn't dream\Nabout being the scribe.
Dialogue: 0,0:01:55.08,0:01:57.88,Default,,0000,0000,0000,,I dreamt about going in the woods\Nand killing something."
Dialogue: 0,0:01:58.74,0:02:01.28,Default,,0000,0000,0000,,They, of course, didn't know\Nwhat I was talking about.
Dialogue: 0,0:02:01.28,0:02:03.00,Default,,0000,0000,0000,,I then went back to my job and said,
Dialogue: 0,0:02:03.00,0:02:06.79,Default,,0000,0000,0000,,"You know what, I feel like I'd like\Nto try and build something,
Dialogue: 0,0:02:06.79,0:02:08.69,Default,,0000,0000,0000,,but I don't know if I have wherewithal."
Dialogue: 0,0:02:08.69,0:02:12.56,Default,,0000,0000,0000,,So I took a week off from work,\Nand then tried to start this company.
Dialogue: 0,0:02:12.56,0:02:16.09,Default,,0000,0000,0000,,Made enough of what felt like progress\Nso that I then went and quit my job,
Dialogue: 0,0:02:16.09,0:02:17.56,Default,,0000,0000,0000,,and then started a dot-com.
Dialogue: 0,0:02:17.56,0:02:18.72,Default,,0000,0000,0000,,This was around 2000.
Dialogue: 0,0:02:18.72,0:02:20.88,Default,,0000,0000,0000,,Had its mini rise and maximum fall.
Dialogue: 0,0:02:20.88,0:02:23.49,Default,,0000,0000,0000,,We raised about a quarter\Nof a million, got some press,
Dialogue: 0,0:02:23.49,0:02:24.91,Default,,0000,0000,0000,,but then the bubble burst.
Dialogue: 0,0:02:24.91,0:02:27.49,Default,,0000,0000,0000,,How old were you guys\Nwhen the bubble burst in 2001?
Dialogue: 0,0:02:28.48,0:02:29.48,Default,,0000,0000,0000,,(Audience) Eight.
Dialogue: 0,0:02:29.48,0:02:30.96,Default,,0000,0000,0000,,Eight, nine.
Dialogue: 0,0:02:30.96,0:02:31.97,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:02:31.97,0:02:35.00,Default,,0000,0000,0000,,So, do you guys have\Nany recollection of that time?
Dialogue: 0,0:02:35.00,0:02:37.91,Default,,0000,0000,0000,,Maybe your parents watching CNBC,\Nvery sad for a little while,
Dialogue: 0,0:02:37.91,0:02:39.05,Default,,0000,0000,0000,,or something like that.
Dialogue: 0,0:02:39.05,0:02:40.06,Default,,0000,0000,0000,,Anything like that?
Dialogue: 0,0:02:40.06,0:02:42.45,Default,,0000,0000,0000,,There are adults among you\Nwho remember this stuff.
Dialogue: 0,0:02:42.45,0:02:43.45,Default,,0000,0000,0000,,When it burst,
Dialogue: 0,0:02:43.45,0:02:46.32,Default,,0000,0000,0000,,it was like a giant hand\Nwent through the streets of New York
Dialogue: 0,0:02:46.32,0:02:48.76,Default,,0000,0000,0000,,and swept away any company\Nthat was not nailed down,
Dialogue: 0,0:02:48.76,0:02:50.05,Default,,0000,0000,0000,,including my little outfit.
Dialogue: 0,0:02:50.05,0:02:51.43,Default,,0000,0000,0000,,At this point, I'm 25.
Dialogue: 0,0:02:51.43,0:02:53.40,Default,,0000,0000,0000,,I've just lost investors about $0.25M.
Dialogue: 0,0:02:53.40,0:02:55.95,Default,,0000,0000,0000,,I still own $100,000 in law school debt.
Dialogue: 0,0:02:55.95,0:02:58.72,Default,,0000,0000,0000,,My parents are like, "What happened?\NYou used to be smart."
Dialogue: 0,0:02:58.72,0:03:00.52,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:03:01.50,0:03:03.51,Default,,0000,0000,0000,,At this point,\NI had been bitten by the bug
Dialogue: 0,0:03:03.51,0:03:06.27,Default,,0000,0000,0000,,and said, "You know what,\NI think I really want to do this.
Dialogue: 0,0:03:06.27,0:03:08.70,Default,,0000,0000,0000,,I want to learn how to build\Na business, a company."
Dialogue: 0,0:03:08.70,0:03:10.10,Default,,0000,0000,0000,,I'm going to submit this you.
Dialogue: 0,0:03:10.10,0:03:11.81,Default,,0000,0000,0000,,What should young Andrew do now, 25,
Dialogue: 0,0:03:11.81,0:03:14.39,Default,,0000,0000,0000,,lying on his floor,\Nlooking up at the ceiling?
Dialogue: 0,0:03:14.59,0:03:16.25,Default,,0000,0000,0000,,What's the next step?
Dialogue: 0,0:03:16.54,0:03:17.62,Default,,0000,0000,0000,,(Audience) Try again?
Dialogue: 0,0:03:17.62,0:03:21.40,Default,,0000,0000,0000,,Try again, but how to try again,\Ngiven that I just raised money and lost,
Dialogue: 0,0:03:21.40,0:03:25.10,Default,,0000,0000,0000,,and it's like 2001, 2002\Nwhen no one wants to invest in anything?
Dialogue: 0,0:03:27.81,0:03:29.84,Default,,0000,0000,0000,,(Audience) Getting them to believe in you.
Dialogue: 0,0:03:29.84,0:03:31.59,Default,,0000,0000,0000,,Wow, I don't know what that means.
Dialogue: 0,0:03:31.59,0:03:34.40,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:03:34.40,0:03:36.79,Default,,0000,0000,0000,,Okay, so I'm going to submit\Nsomething else to you.
Dialogue: 0,0:03:36.79,0:03:40.08,Default,,0000,0000,0000,,Let's say you wanted\Nto become a chef, really bad.
Dialogue: 0,0:03:40.08,0:03:41.43,Default,,0000,0000,0000,,What might you do?
Dialogue: 0,0:03:41.43,0:03:42.54,Default,,0000,0000,0000,,(Audience) Chef school.
Dialogue: 0,0:03:42.54,0:03:44.11,Default,,0000,0000,0000,,Chef school. Another possibility?
Dialogue: 0,0:03:44.11,0:03:45.13,Default,,0000,0000,0000,,(Audience) Get a job.
Dialogue: 0,0:03:45.13,0:03:46.26,Default,,0000,0000,0000,,Get a job where?
Dialogue: 0,0:03:46.26,0:03:47.75,Default,,0000,0000,0000,,(Audience) As a chef at a cafe.
Dialogue: 0,0:03:47.75,0:03:50.00,Default,,0000,0000,0000,,Right, you would take your chef knife out,
Dialogue: 0,0:03:50.00,0:03:51.63,Default,,0000,0000,0000,,and you would go down on one knee.
Dialogue: 0,0:03:51.63,0:03:54.68,Default,,0000,0000,0000,,You would go to someone\Nand say, "Be my master." Right?
Dialogue: 0,0:03:54.68,0:03:58.18,Default,,0000,0000,0000,,You'd find someone who's a better chef.
Dialogue: 0,0:03:58.18,0:04:01.04,Default,,0000,0000,0000,,So that's what I did:\NI found an experienced entrepreneur.
Dialogue: 0,0:04:01.04,0:04:04.94,Default,,0000,0000,0000,,And I became his lieutenant,\Nhis VP of something or other.
Dialogue: 0,0:04:04.94,0:04:07.73,Default,,0000,0000,0000,,And so for four years, I supported him
Dialogue: 0,0:04:07.73,0:04:10.08,Default,,0000,0000,0000,,as that company raised\Nabout seven million dollars
Dialogue: 0,0:04:10.08,0:04:11.68,Default,,0000,0000,0000,,and three million in revenue.
Dialogue: 0,0:04:11.68,0:04:14.36,Default,,0000,0000,0000,,Then I became the CEO\Nof a company called Manhattan GMAT.
Dialogue: 0,0:04:14.36,0:04:15.48,Default,,0000,0000,0000,,Has anyone heard of it?
Dialogue: 0,0:04:15.48,0:04:17.08,Default,,0000,0000,0000,,Juniors, seniors, maybe?
Dialogue: 0,0:04:17.52,0:04:20.84,Default,,0000,0000,0000,,Manhattan GMAT grew from being\Na relatively small GMAT boutique
Dialogue: 0,0:04:20.84,0:04:23.80,Default,,0000,0000,0000,,to number one in the US\Nover the next five or six years,
Dialogue: 0,0:04:23.80,0:04:26.95,Default,,0000,0000,0000,,to the point where we were acquired\Nby The Washington Post in 2009
Dialogue: 0,0:04:26.95,0:04:28.96,Default,,0000,0000,0000,,because we were number one in the US.
Dialogue: 0,0:04:28.96,0:04:30.40,Default,,0000,0000,0000,,Washington Post owns Kaplan.
Dialogue: 0,0:04:30.40,0:04:32.24,Default,,0000,0000,0000,,We were beating the tar out of Kaplan.
Dialogue: 0,0:04:32.24,0:04:34.73,Default,,0000,0000,0000,,Kaplan got tired of it,\Nso the CEO calls me and says,
Dialogue: 0,0:04:34.73,0:04:36.08,Default,,0000,0000,0000,,"Hey, let's talk."
Dialogue: 0,0:04:36.08,0:04:39.85,Default,,0000,0000,0000,,We have a little bidding process,\Nand the company gets acquired.
Dialogue: 0,0:04:39.85,0:04:43.19,Default,,0000,0000,0000,,It's one of the reasons I'm very familiar\Nwith this particular picture;
Dialogue: 0,0:04:43.19,0:04:45.78,Default,,0000,0000,0000,,many of the people my company started\Nin Manhattan GMAT
Dialogue: 0,0:04:45.78,0:04:47.22,Default,,0000,0000,0000,,were bankers and consultants
Dialogue: 0,0:04:47.22,0:04:49.74,Default,,0000,0000,0000,,who weren't really finding\Nwhat they were looking for
Dialogue: 0,0:04:49.74,0:04:50.99,Default,,0000,0000,0000,,as 20-something year olds,
Dialogue: 0,0:04:50.99,0:04:53.52,Default,,0000,0000,0000,,so they would take the GMAT,\Napply to business school,
Dialogue: 0,0:04:53.52,0:04:55.03,Default,,0000,0000,0000,,and then go to business school.
Dialogue: 0,0:04:55.03,0:04:57.42,Default,,0000,0000,0000,,So, I'm going to continue with this.
Dialogue: 0,0:04:57.42,0:04:59.72,Default,,0000,0000,0000,,Let's take a look\Nat what the actual numbers are.
Dialogue: 0,0:04:59.72,0:05:01.56,Default,,0000,0000,0000,,Let's take Harvard's class of 2011.
Dialogue: 0,0:05:01.56,0:05:04.79,Default,,0000,0000,0000,,What were the most common things\Nto do out of Harvard a year ago?
Dialogue: 0,0:05:04.79,0:05:05.80,Default,,0000,0000,0000,,Shout them out.
Dialogue: 0,0:05:05.80,0:05:08.24,Default,,0000,0000,0000,,(Crosstalk)
Dialogue: 0,0:05:10.04,0:05:11.70,Default,,0000,0000,0000,,Yes, finance.
Dialogue: 0,0:05:11.70,0:05:13.42,Default,,0000,0000,0000,,(Audience) Doctor.\NA.Y.: Consulting.
Dialogue: 0,0:05:13.42,0:05:15.68,Default,,0000,0000,0000,,Law. Not accounting.
Dialogue: 0,0:05:15.68,0:05:16.86,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:05:16.86,0:05:18.72,Default,,0000,0000,0000,,And the fourth is med school.
Dialogue: 0,0:05:18.72,0:05:19.72,Default,,0000,0000,0000,,The question is,
Dialogue: 0,0:05:19.72,0:05:22.80,Default,,0000,0000,0000,,what proportion of Harvard students\Ndid one of those four things?
Dialogue: 0,0:05:23.42,0:05:26.31,Default,,0000,0000,0000,,(Audience responses)
Dialogue: 0,0:05:26.52,0:05:28.81,Default,,0000,0000,0000,,All right, so I've got\Nbetween 40 and 90 percent.
Dialogue: 0,0:05:28.81,0:05:32.14,Default,,0000,0000,0000,,And as usual, the wisdom of crowds,\Nthe truth is exactly in the middle.
Dialogue: 0,0:05:32.14,0:05:33.71,Default,,0000,0000,0000,,It's 65 percent.
Dialogue: 0,0:05:35.88,0:05:39.36,Default,,0000,0000,0000,,Then you have the potpourri category,\Nwhich is a little bit of everything.
Dialogue: 0,0:05:39.36,0:05:42.72,Default,,0000,0000,0000,,It's grad school, nonprofits,\Nindustry, government, IT, military.
Dialogue: 0,0:05:42.72,0:05:45.28,Default,,0000,0000,0000,,Then you have its own line item,\NTeach for America.
Dialogue: 0,0:05:45.28,0:05:46.36,Default,,0000,0000,0000,,18 percent apply.
Dialogue: 0,0:05:46.36,0:05:49.52,Default,,0000,0000,0000,,Four percent actually become\NTeach for America corps members.
Dialogue: 0,0:05:49.52,0:05:50.77,Default,,0000,0000,0000,,Then, undecided;
Dialogue: 0,0:05:50.77,0:05:53.80,Default,,0000,0000,0000,,10 percent went to Europe,\Nand then became consultants.
Dialogue: 0,0:05:53.80,0:05:56.20,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:05:57.11,0:06:01.64,Default,,0000,0000,0000,,So this is the picture\Nfrom Harvard, a year ago.
Dialogue: 0,0:06:01.64,0:06:03.10,Default,,0000,0000,0000,,Let me get some feedback.
Dialogue: 0,0:06:03.10,0:06:05.29,Default,,0000,0000,0000,,It this surprising, unsurprising?
Dialogue: 0,0:06:05.99,0:06:06.99,Default,,0000,0000,0000,,Not surprising.
Dialogue: 0,0:06:06.99,0:06:08.88,Default,,0000,0000,0000,,Now, I throw the normative question.
Dialogue: 0,0:06:08.88,0:06:12.28,Default,,0000,0000,0000,,Is this a good thing,\Na bad thing, or neutral?
Dialogue: 0,0:06:12.61,0:06:15.91,Default,,0000,0000,0000,,(Audience) Bad. Neutral.
Dialogue: 0,0:06:15.91,0:06:18.94,Default,,0000,0000,0000,,Wow, that one's fraught, right?
Dialogue: 0,0:06:18.94,0:06:21.92,Default,,0000,0000,0000,,Let's keep on going.
Dialogue: 0,0:06:22.05,0:06:25.07,Default,,0000,0000,0000,,If you take a look at other top schools,\Nthe picture's the same.
Dialogue: 0,0:06:25.07,0:06:27.11,Default,,0000,0000,0000,,The picture is the same\Nhere at Georgetown.
Dialogue: 0,0:06:27.11,0:06:30.05,Default,,0000,0000,0000,,I didn't pull the Georgetown stats,\Nbut they're quite similar.
Dialogue: 0,0:06:30.05,0:06:32.24,Default,,0000,0000,0000,,You can see that it's not\Njust a Harvard thing.
Dialogue: 0,0:06:32.24,0:06:34.60,Default,,0000,0000,0000,,It's really a "any top school" thing.
Dialogue: 0,0:06:34.60,0:06:38.10,Default,,0000,0000,0000,,I've spoken at 40 universities\Naround the country,
Dialogue: 0,0:06:38.10,0:06:40.11,Default,,0000,0000,0000,,and they all say the same thing.
Dialogue: 0,0:06:40.11,0:06:42.32,Default,,0000,0000,0000,,So what does that mean\Nin terms of our country,
Dialogue: 0,0:06:42.32,0:06:43.47,Default,,0000,0000,0000,,let's say, "regionally"?
Dialogue: 0,0:06:43.47,0:06:45.00,Default,,0000,0000,0000,,If you have half your smart kids
Dialogue: 0,0:06:45.00,0:06:47.01,Default,,0000,0000,0000,,becoming bankers,\Nconsultants, and lawyers,
Dialogue: 0,0:06:47.01,0:06:48.56,Default,,0000,0000,0000,,where are they going to live?
Dialogue: 0,0:06:48.56,0:06:50.12,Default,,0000,0000,0000,,(Audience responds)
Dialogue: 0,0:06:52.63,0:06:56.48,Default,,0000,0000,0000,,New York, DC, maybe Chicago.
Dialogue: 0,0:06:56.48,0:06:58.31,Default,,0000,0000,0000,,(Audience) Boston.\NA.Y.: Boston.
Dialogue: 0,0:06:59.34,0:07:02.36,Default,,0000,0000,0000,,San Francisco, LA, those are the top six.
Dialogue: 0,0:07:02.36,0:07:04.64,Default,,0000,0000,0000,,We just listed the top four.
Dialogue: 0,0:07:05.44,0:07:07.41,Default,,0000,0000,0000,,So then you have the rest of the country,
Dialogue: 0,0:07:07.41,0:07:11.32,Default,,0000,0000,0000,,much of which is struggling\Nwith job growth and economic development.
Dialogue: 0,0:07:11.32,0:07:13.67,Default,,0000,0000,0000,,One of the things we think\Nthis graphic represents
Dialogue: 0,0:07:13.67,0:07:16.46,Default,,0000,0000,0000,,is that if you're a smart kid\Nfrom, let's say, Florida,
Dialogue: 0,0:07:16.46,0:07:17.63,Default,,0000,0000,0000,,who comes to Georgetown,
Dialogue: 0,0:07:17.63,0:07:20.25,Default,,0000,0000,0000,,the odds of you becoming\Na banker, consultant, or lawyer
Dialogue: 0,0:07:20.25,0:07:22.55,Default,,0000,0000,0000,,and living in New York,\NBoston, DC are very high.
Dialogue: 0,0:07:22.55,0:07:24.18,Default,,0000,0000,0000,,Odds of you going back to Florida,
Dialogue: 0,0:07:24.18,0:07:26.32,Default,,0000,0000,0000,,starting a business,\Ncreating jobs: very low.
Dialogue: 0,0:07:26.32,0:07:29.32,Default,,0000,0000,0000,,You end up with a systematic talent drain\Non most of the country
Dialogue: 0,0:07:29.32,0:07:32.70,Default,,0000,0000,0000,,if they happen to get identified\Nby a national university.
Dialogue: 0,0:07:33.60,0:07:35.39,Default,,0000,0000,0000,,This is the picture you end up with.
Dialogue: 0,0:07:35.39,0:07:37.36,Default,,0000,0000,0000,,What do you guys think, empirically true?
Dialogue: 0,0:07:37.36,0:07:38.45,Default,,0000,0000,0000,,(Audience) Yeah.
Dialogue: 0,0:07:38.45,0:07:42.16,Default,,0000,0000,0000,,Absolutely. Wow, all right.\NWe're starting to get something.
Dialogue: 0,0:07:42.16,0:07:45.40,Default,,0000,0000,0000,,Good stuff. Why is this the case?
Dialogue: 0,0:07:45.40,0:07:47.94,Default,,0000,0000,0000,,Those of you who are freshmen,\Nraise your hands again.
Dialogue: 0,0:07:48.28,0:07:50.76,Default,,0000,0000,0000,,How many of you who have\Nyour hands up, keep them up,
Dialogue: 0,0:07:50.76,0:07:53.06,Default,,0000,0000,0000,,know what management consulting is?
Dialogue: 0,0:07:53.40,0:07:55.30,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:07:55.30,0:07:59.16,Default,,0000,0000,0000,,So how is it that that world\Ngoes from that
Dialogue: 0,0:07:59.16,0:08:03.17,Default,,0000,0000,0000,,to, let's say, 20 percent of the class\Nat least applying for consulting jobs
Dialogue: 0,0:08:03.17,0:08:04.46,Default,,0000,0000,0000,,and maybe even converting?
Dialogue: 0,0:08:04.46,0:08:05.94,Default,,0000,0000,0000,,How does that happen?
Dialogue: 0,0:08:06.06,0:08:08.40,Default,,0000,0000,0000,,Seniors, chime in, please?
Dialogue: 0,0:08:09.14,0:08:10.29,Default,,0000,0000,0000,,(Audience) Salary.
Dialogue: 0,0:08:10.29,0:08:12.78,Default,,0000,0000,0000,,Money's there. What else? Keep going.
Dialogue: 0,0:08:12.78,0:08:14.17,Default,,0000,0000,0000,,(Audience) Creating new jobs.
Dialogue: 0,0:08:14.17,0:08:15.42,Default,,0000,0000,0000,,Sorry?
Dialogue: 0,0:08:15.42,0:08:16.42,Default,,0000,0000,0000,,(Audience) Security.
Dialogue: 0,0:08:16.42,0:08:18.47,Default,,0000,0000,0000,,Security, fear.
Dialogue: 0,0:08:18.47,0:08:20.07,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:08:21.34,0:08:22.68,Default,,0000,0000,0000,,Keep going. Keep going.
Dialogue: 0,0:08:22.68,0:08:24.21,Default,,0000,0000,0000,,(Audience) Diligent recruitment.
Dialogue: 0,0:08:24.21,0:08:27.00,Default,,0000,0000,0000,,Yes, resources. This is not an accident.
Dialogue: 0,0:08:27.00,0:08:28.56,Default,,0000,0000,0000,,People spend money and time
Dialogue: 0,0:08:28.56,0:08:32.82,Default,,0000,0000,0000,,educating the market, that is all of you,\Nover your four years.
Dialogue: 0,0:08:32.82,0:08:35.23,Default,,0000,0000,0000,,By the time you're a senior,\Nyou'll know the names;
Dialogue: 0,0:08:35.23,0:08:37.97,Default,,0000,0000,0000,,McKinsey, Bain, BCG, Deloitte, etc.
Dialogue: 0,0:08:39.16,0:08:41.45,Default,,0000,0000,0000,,Let's take a look at how this list looks.
Dialogue: 0,0:08:41.45,0:08:46.08,Default,,0000,0000,0000,,Prestige, easy to find, progress,\Nseek the next level, opens doors.
Dialogue: 0,0:08:46.08,0:08:49.52,Default,,0000,0000,0000,,Money's on the list,\Ngain skills, community;
Dialogue: 0,0:08:49.52,0:08:51.01,Default,,0000,0000,0000,,and then there's this last one,
Dialogue: 0,0:08:51.01,0:08:54.26,Default,,0000,0000,0000,,which is something pro-social,\Nlike change the world.
Dialogue: 0,0:08:54.26,0:08:56.84,Default,,0000,0000,0000,,This even applies if you become\Na banker or consultant,
Dialogue: 0,0:08:56.84,0:08:59.20,Default,,0000,0000,0000,,because the theory is,\Nyou must become a baller
Dialogue: 0,0:08:59.20,0:09:02.10,Default,,0000,0000,0000,,before you can come back\Nand change the world. Right?
Dialogue: 0,0:09:04.23,0:09:07.01,Default,,0000,0000,0000,,Then you can come back to the people\Nwith loaves of bread.
Dialogue: 0,0:09:07.01,0:09:08.44,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:09:10.03,0:09:14.16,Default,,0000,0000,0000,,Those of you who are seniors,\Ncan I get a - yes, this is accurate?
Dialogue: 0,0:09:14.38,0:09:15.39,Default,,0000,0000,0000,,(Audience) Yes.
Dialogue: 0,0:09:15.39,0:09:17.08,Default,,0000,0000,0000,,All right, thank you.
Dialogue: 0,0:09:17.08,0:09:19.95,Default,,0000,0000,0000,,Now, I usually talk to people\Nwho are interested in startups,
Dialogue: 0,0:09:19.95,0:09:22.33,Default,,0000,0000,0000,,so this is a little bit overly broad.
Dialogue: 0,0:09:22.33,0:09:24.47,Default,,0000,0000,0000,,But let's say you\Nwere interested in startups.
Dialogue: 0,0:09:24.47,0:09:27.19,Default,,0000,0000,0000,,Show of hands: how many of you\Nare interested in startups?
Dialogue: 0,0:09:27.19,0:09:28.20,Default,,0000,0000,0000,,A significant subset.
Dialogue: 0,0:09:28.20,0:09:31.38,Default,,0000,0000,0000,,The seniors among you,\Nwhy is it that it's unlikely
Dialogue: 0,0:09:31.38,0:09:34.46,Default,,0000,0000,0000,,you're actually going to go\Nwork for a startup when you graduate?
Dialogue: 0,0:09:35.28,0:09:36.64,Default,,0000,0000,0000,,Risky.
Dialogue: 0,0:09:36.81,0:09:37.98,Default,,0000,0000,0000,,Money.
Dialogue: 0,0:09:37.98,0:09:38.88,Default,,0000,0000,0000,,(Audience) Loans.
Dialogue: 0,0:09:38.88,0:09:40.12,Default,,0000,0000,0000,,Loans.
Dialogue: 0,0:09:41.08,0:09:42.14,Default,,0000,0000,0000,,(Audience) It's scary.
Dialogue: 0,0:09:42.14,0:09:44.94,Default,,0000,0000,0000,,It's pretty much the opposite\Nof the last slide. Right?
Dialogue: 0,0:09:44.94,0:09:46.42,Default,,0000,0000,0000,,It's like you're not recruited.
Dialogue: 0,0:09:46.42,0:09:48.60,Default,,0000,0000,0000,,It's hard to find.\NThere's no structured path.
Dialogue: 0,0:09:48.60,0:09:50.29,Default,,0000,0000,0000,,There's no community or peer group.
Dialogue: 0,0:09:50.29,0:09:52.92,Default,,0000,0000,0000,,Unclear prospects for training,\Nadvancement, or success.
Dialogue: 0,0:09:52.92,0:09:54.91,Default,,0000,0000,0000,,No network, idea,\Nmoney, tech proficiency.
Dialogue: 0,0:09:54.91,0:09:58.08,Default,,0000,0000,0000,,But a lot of you really want to,\Nand then you talk about doing it,
Dialogue: 0,0:09:58.08,0:10:01.15,Default,,0000,0000,0000,,but first, you want to\N"learn about business "and then come back.
Dialogue: 0,0:10:01.15,0:10:02.16,Default,,0000,0000,0000,,Is this accurate?
Dialogue: 0,0:10:02.16,0:10:03.23,Default,,0000,0000,0000,,Am I - ?
Dialogue: 0,0:10:03.23,0:10:04.84,Default,,0000,0000,0000,,(Audience responds)
Dialogue: 0,0:10:05.39,0:10:07.12,Default,,0000,0000,0000,,It's like I was one of you.
Dialogue: 0,0:10:07.12,0:10:08.92,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:10:09.33,0:10:12.92,Default,,0000,0000,0000,,So here's the big question\Nthat Venture for America seeks to answer:
Dialogue: 0,0:10:12.92,0:10:15.31,Default,,0000,0000,0000,,What would happen\Nif the same proportion of talent
Dialogue: 0,0:10:15.31,0:10:18.38,Default,,0000,0000,0000,,that is currently flowing\Nto banking, consulting, and law school
Dialogue: 0,0:10:18.38,0:10:20.71,Default,,0000,0000,0000,,were instead going to startups\Naround the country?
Dialogue: 0,0:10:20.71,0:10:21.91,Default,,0000,0000,0000,,How long would that take
Dialogue: 0,0:10:21.91,0:10:24.11,Default,,0000,0000,0000,,to impact job growth\Nand innovation nationwide?
Dialogue: 0,0:10:24.11,0:10:26.37,Default,,0000,0000,0000,,How many years?\NCan I get an over/under on this?
Dialogue: 0,0:10:26.37,0:10:27.41,Default,,0000,0000,0000,,(Audience) Five.
Dialogue: 0,0:10:27.41,0:10:28.53,Default,,0000,0000,0000,,Five.
Dialogue: 0,0:10:28.53,0:10:29.55,Default,,0000,0000,0000,,(Audience) One.
Dialogue: 0,0:10:29.55,0:10:30.67,Default,,0000,0000,0000,,One, wow.
Dialogue: 0,0:10:30.67,0:10:31.85,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:10:31.85,0:10:35.76,Default,,0000,0000,0000,,That's belief. That's self-belief.\NYou should become an entrepreneur.
Dialogue: 0,0:10:37.13,0:10:38.94,Default,,0000,0000,0000,,So between one and five years.
Dialogue: 0,0:10:38.94,0:10:43.62,Default,,0000,0000,0000,,And so we see - "we,"\Nas in certain people -
Dialogue: 0,0:10:44.75,0:10:45.95,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:10:45.95,0:10:48.57,Default,,0000,0000,0000,,we see that there are structural forces
Dialogue: 0,0:10:48.57,0:10:51.62,Default,,0000,0000,0000,,that make this reality\Nvery difficult to achieve
Dialogue: 0,0:10:51.62,0:10:54.20,Default,,0000,0000,0000,,because, if you think about\Nwho can come get you
Dialogue: 0,0:10:54.20,0:10:58.64,Default,,0000,0000,0000,,here in this collection\Nof intellectual capital,
Dialogue: 0,0:10:58.64,0:11:03.24,Default,,0000,0000,0000,,it's high-resource organizations\Nfrom high-resource industries.
Dialogue: 0,0:11:03.24,0:11:05.84,Default,,0000,0000,0000,,And so startups are actually\Nneither of those things.
Dialogue: 0,0:11:05.84,0:11:07.92,Default,,0000,0000,0000,,Startups are generally low-resource.
Dialogue: 0,0:11:07.92,0:11:09.92,Default,,0000,0000,0000,,And they also don't have the time horizon.
Dialogue: 0,0:11:09.92,0:11:12.12,Default,,0000,0000,0000,,They can't recruit you\Neight months in advance.
Dialogue: 0,0:11:12.12,0:11:14.50,Default,,0000,0000,0000,,They don't need 20 of you.\NIt's all real-time.
Dialogue: 0,0:11:14.50,0:11:17.12,Default,,0000,0000,0000,,And if they came, they would have\Na hard time competing.
Dialogue: 0,0:11:17.12,0:11:19.68,Default,,0000,0000,0000,,So how would you go about\Ntrying to fix this problem,
Dialogue: 0,0:11:19.68,0:11:22.72,Default,,0000,0000,0000,,if you decided that this\Nis a vision worth achieving?
Dialogue: 0,0:11:22.72,0:11:24.32,Default,,0000,0000,0000,,If you said, "You know what,
Dialogue: 0,0:11:24.32,0:11:28.88,Default,,0000,0000,0000,,this is actually potentially\Na rosier picture"?
Dialogue: 0,0:11:28.88,0:11:30.46,Default,,0000,0000,0000,,And speaking personally,
Dialogue: 0,0:11:30.46,0:11:33.04,Default,,0000,0000,0000,,I believe it's even a rosier picture\Nfor the individual
Dialogue: 0,0:11:33.04,0:11:36.08,Default,,0000,0000,0000,,because there's something\Nabout what you do
Dialogue: 0,0:11:36.08,0:11:38.96,Default,,0000,0000,0000,,that comes to define you\Nover a period of years.
Dialogue: 0,0:11:38.96,0:11:41.24,Default,,0000,0000,0000,,You will actually become\Na different person.
Dialogue: 0,0:11:42.26,0:11:45.28,Default,,0000,0000,0000,,If there's one thing\Nyou remember from this,
Dialogue: 0,0:11:45.28,0:11:48.16,Default,,0000,0000,0000,,as a young person, you imagine\Nthat you are a static self.
Dialogue: 0,0:11:48.16,0:11:50.07,Default,,0000,0000,0000,,Like, I'm young Andrew, and I say,
Dialogue: 0,0:11:50.07,0:11:53.04,Default,,0000,0000,0000,,"Hey, I'm going to do X,\Nand then I'm still going to be Andrew,
Dialogue: 0,0:11:53.04,0:11:54.28,Default,,0000,0000,0000,,I just will have done X."
Dialogue: 0,0:11:54.28,0:11:56.56,Default,,0000,0000,0000,,The truth is, Andrew changes
Dialogue: 0,0:11:56.56,0:11:59.88,Default,,0000,0000,0000,,if you have him go to law school\Nor be in a law firm,
Dialogue: 0,0:11:59.88,0:12:02.06,Default,,0000,0000,0000,,look at contracts all day, or whatnot.
Dialogue: 0,0:12:02.06,0:12:04.07,Default,,0000,0000,0000,,We're all very adaptable.
Dialogue: 0,0:12:04.07,0:12:05.44,Default,,0000,0000,0000,,And so,
Dialogue: 0,0:12:06.00,0:12:11.48,Default,,0000,0000,0000,,in my view, the activities\Nthat lead you down the startup road,
Dialogue: 0,0:12:11.48,0:12:13.88,Default,,0000,0000,0000,,actually end up forming a different self
Dialogue: 0,0:12:13.88,0:12:15.31,Default,,0000,0000,0000,,that I'm going to go on a limb
Dialogue: 0,0:12:15.31,0:12:18.74,Default,,0000,0000,0000,,and say, for some of you,\Nwould be more appealing.
Dialogue: 0,0:12:19.45,0:12:22.10,Default,,0000,0000,0000,,If you were to want\Nto try and affect this change,
Dialogue: 0,0:12:22.10,0:12:23.69,Default,,0000,0000,0000,,what would you do?
Dialogue: 0,0:12:26.37,0:12:29.36,Default,,0000,0000,0000,,(Audience) Think of it\Nas primary school for startups.
Dialogue: 0,0:12:29.36,0:12:32.88,Default,,0000,0000,0000,,Maybe you'd tinker\Nwith the educational system.
Dialogue: 0,0:12:34.90,0:12:37.35,Default,,0000,0000,0000,,(Audience) [Inaudible]\Njust like what they do
Dialogue: 0,0:12:37.35,0:12:40.47,Default,,0000,0000,0000,,to get psychologists to go\Nand practice in rural areas,
Dialogue: 0,0:12:40.47,0:12:41.63,Default,,0000,0000,0000,,Yes.
Dialogue: 0,0:12:41.63,0:12:45.96,Default,,0000,0000,0000,,If you were me, what you would do is\Nyou would go raise a million dollars,
Dialogue: 0,0:12:45.96,0:12:48.63,Default,,0000,0000,0000,,and then start an organization\Nthat does this.
Dialogue: 0,0:12:48.76,0:12:51.73,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:12:54.62,0:12:57.33,Default,,0000,0000,0000,,So I started an organization\Ncalled "Venture for America."
Dialogue: 0,0:12:57.33,0:13:00.35,Default,,0000,0000,0000,,And this is particularly relevant\Nfor the seniors among you.
Dialogue: 0,0:13:00.60,0:13:03.28,Default,,0000,0000,0000,,We recruit top college graduates\Nfrom around the country.
Dialogue: 0,0:13:03.28,0:13:06.09,Default,,0000,0000,0000,,If you get into the program,\Nwe bring you to a training camp
Dialogue: 0,0:13:06.09,0:13:10.18,Default,,0000,0000,0000,,with, let's say, 80 other ass-kickers\Nwho all want to be entrepreneurs.
Dialogue: 0,0:13:10.45,0:13:15.32,Default,,0000,0000,0000,,We train you. McKinsey comes. IDEO comes.\NCambridge Leadership Academy comes.
Dialogue: 0,0:13:15.32,0:13:17.64,Default,,0000,0000,0000,,David Tisch comes from Techstars.
Dialogue: 0,0:13:17.64,0:13:19.60,Default,,0000,0000,0000,,Everyone comes, trains you,
Dialogue: 0,0:13:19.60,0:13:24.48,Default,,0000,0000,0000,,and then you go in groups of 10 or so\Nto a city that needs talent,
Dialogue: 0,0:13:24.48,0:13:27.40,Default,,0000,0000,0000,,and you work at a startup there\Nwith an existing entrepreneur.
Dialogue: 0,0:13:27.40,0:13:28.56,Default,,0000,0000,0000,,What we're doing here -
Dialogue: 0,0:13:28.56,0:13:31.20,Default,,0000,0000,0000,,and I'm going to do\Nsomething I shouldn't do;
Dialogue: 0,0:13:31.20,0:13:33.28,Default,,0000,0000,0000,,but whatever, I'm going to do it.
Dialogue: 0,0:13:33.28,0:13:34.72,Default,,0000,0000,0000,,So what we're going to do is,
Dialogue: 0,0:13:34.72,0:13:37.66,Default,,0000,0000,0000,,we're going to give you\Nall of these things that you want,
Dialogue: 0,0:13:37.66,0:13:40.09,Default,,0000,0000,0000,,because it's prestigious,\Nit's ultraselective.
Dialogue: 0,0:13:40.15,0:13:42.36,Default,,0000,0000,0000,,All of these things, progress,\Nopen the doors -
Dialogue: 0,0:13:42.36,0:13:44.47,Default,,0000,0000,0000,,you get a community,\Nyou get the whole thing.
Dialogue: 0,0:13:44.47,0:13:46.44,Default,,0000,0000,0000,,Because we are adults.
Dialogue: 0,0:13:46.44,0:13:47.92,Default,,0000,0000,0000,,If we want you to do something,
Dialogue: 0,0:13:47.92,0:13:49.92,Default,,0000,0000,0000,,we shouldn't expect you\Nto have to somehow
Dialogue: 0,0:13:49.92,0:13:52.25,Default,,0000,0000,0000,,swim against some\Nviolent current to do it.
Dialogue: 0,0:13:52.37,0:13:54.89,Default,,0000,0000,0000,,We should actually pave the path.
Dialogue: 0,0:13:55.16,0:13:57.08,Default,,0000,0000,0000,,That's what Venture for America's about.
Dialogue: 0,0:13:57.08,0:13:58.08,Default,,0000,0000,0000,,It's about giving you
Dialogue: 0,0:13:58.08,0:14:00.77,Default,,0000,0000,0000,,all of these things that you want,\Nthat we know you want,
Dialogue: 0,0:14:00.77,0:14:04.16,Default,,0000,0000,0000,,in order to do what you want to do\Nand what the country wants you to do.
Dialogue: 0,0:14:04.16,0:14:08.04,Default,,0000,0000,0000,,That's build a business in Detroit,\NNew Orleans, New Haven, Baltimore,
Dialogue: 0,0:14:08.04,0:14:11.52,Default,,0000,0000,0000,,Cleveland, Providence, etc., etc.
Dialogue: 0,0:14:12.70,0:14:15.60,Default,,0000,0000,0000,,Venture for America\Nis in the process of doing this.
Dialogue: 0,0:14:16.77,0:14:18.19,Default,,0000,0000,0000,,If you come into the program,
Dialogue: 0,0:14:18.19,0:14:20.72,Default,,0000,0000,0000,,you agree to work for a startup\Ncompany for two years
Dialogue: 0,0:14:20.72,0:14:22.36,Default,,0000,0000,0000,,with an existing entrepreneur
Dialogue: 0,0:14:22.36,0:14:25.07,Default,,0000,0000,0000,,at around, let's say,\N$36 to a $38K a year,
Dialogue: 0,0:14:25.07,0:14:27.03,Default,,0000,0000,0000,,which doesn't sound like a lot of money,
Dialogue: 0,0:14:27.03,0:14:29.52,Default,,0000,0000,0000,,but the guys in Detroit,\Nwhom I'm visiting next week,
Dialogue: 0,0:14:29.52,0:14:32.38,Default,,0000,0000,0000,,they're living in a fancy building\Nwith a pool and a gym,
Dialogue: 0,0:14:32.38,0:14:34.45,Default,,0000,0000,0000,,for 400 bucks a month.
Dialogue: 0,0:14:34.92,0:14:36.74,Default,,0000,0000,0000,,So you actually can live pretty well.
Dialogue: 0,0:14:36.74,0:14:39.79,Default,,0000,0000,0000,,Plus, they've got 11 buddies around,\Nthey have little road trips,
Dialogue: 0,0:14:39.79,0:14:41.68,Default,,0000,0000,0000,,and they have a good time.
Dialogue: 0,0:14:41.68,0:14:43.12,Default,,0000,0000,0000,,Then throughout the two years,
Dialogue: 0,0:14:43.12,0:14:45.20,Default,,0000,0000,0000,,we supply you with\Nprogramming and support.
Dialogue: 0,0:14:45.20,0:14:47.93,Default,,0000,0000,0000,,At the end of the two years,\Nwe give $100K in seed funding
Dialogue: 0,0:14:47.93,0:14:51.08,Default,,0000,0000,0000,,to whoever's made it through the two years\Nand has done a good job.
Dialogue: 0,0:14:51.08,0:14:54.08,Default,,0000,0000,0000,,It's like a combination of everything\Nyou guys grew up watching,
Dialogue: 0,0:14:54.08,0:14:56.56,Default,,0000,0000,0000,,"Real World," "Survivor," "Road Rules."
Dialogue: 0,0:14:56.56,0:14:59.22,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:14:59.83,0:15:00.95,Default,,0000,0000,0000,,So this is the plan.
Dialogue: 0,0:15:00.95,0:15:03.61,Default,,0000,0000,0000,,We're going to create\N100,000 new US jobs by 2025.
Dialogue: 0,0:15:03.61,0:15:06.87,Default,,0000,0000,0000,,I just want to bring it back to the theme.
Dialogue: 0,0:15:07.14,0:15:09.12,Default,,0000,0000,0000,,What you guys do is all important.
Dialogue: 0,0:15:09.12,0:15:11.56,Default,,0000,0000,0000,,Intellectual capital\Nattracts financial capital,
Dialogue: 0,0:15:11.56,0:15:12.78,Default,,0000,0000,0000,,as well as the reverse.
Dialogue: 0,0:15:12.78,0:15:15.60,Default,,0000,0000,0000,,If you had enough talented people\Nheading in this direction,
Dialogue: 0,0:15:15.60,0:15:18.19,Default,,0000,0000,0000,,then you would see the impact\Nthat we're talking about,
Dialogue: 0,0:15:18.19,0:15:20.15,Default,,0000,0000,0000,,in terms of job creation and innovation.
Dialogue: 0,0:15:20.15,0:15:22.11,Default,,0000,0000,0000,,So this is our goal as an organization,
Dialogue: 0,0:15:22.11,0:15:25.50,Default,,0000,0000,0000,,to revitalize American cities\Nand communities through entrepreneurship,
Dialogue: 0,0:15:25.50,0:15:27.94,Default,,0000,0000,0000,,to enable our best and brightest,\Nthat's all of you,
Dialogue: 0,0:15:27.94,0:15:30.53,Default,,0000,0000,0000,,to create new opportunities\Nfor themselves and others,
Dialogue: 0,0:15:30.53,0:15:32.44,Default,,0000,0000,0000,,and restore the culture of achievement
Dialogue: 0,0:15:32.44,0:15:35.50,Default,,0000,0000,0000,,to include value-creation, risk,\Nand reward, and the common good.
Dialogue: 0,0:15:35.50,0:15:38.100,Default,,0000,0000,0000,,I think I'm before my time,\Nbut that's cool. That's all I had to say.
Dialogue: 0,0:15:38.100,0:15:40.00,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:15:40.00,0:15:41.50,Default,,0000,0000,0000,,Thank you all.
Dialogue: 0,0:15:41.50,0:15:42.99,Default,,0000,0000,0000,,(Applause)