[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:02.09,0:00:04.34,Default,,0000,0000,0000,,It is hard to imagine life
Dialogue: 0,0:00:04.34,0:00:06.33,Default,,0000,0000,0000,,without Amazon.com.
Dialogue: 0,0:00:06.33,0:00:09.85,Default,,0000,0000,0000,,[Laughs]
Dialogue: 0,0:00:09.85,0:00:13.55,Default,,0000,0000,0000,,Even for someone of my advanced age.
Dialogue: 0,0:00:13.55,0:00:15.83,Default,,0000,0000,0000,,After all,
Dialogue: 0,0:00:15.83,0:00:19.07,Default,,0000,0000,0000,,where else can a few clicks of a mouse take you
Dialogue: 0,0:00:19.07,0:00:22.14,Default,,0000,0000,0000,,from the latest novel by Toni Morrison
Dialogue: 0,0:00:22.14,0:00:25.52,Default,,0000,0000,0000,,to an 18th century edition of the works
Dialogue: 0,0:00:25.52,0:00:28.14,Default,,0000,0000,0000,,of John Locke,
Dialogue: 0,0:00:28.14,0:00:33.20,Default,,0000,0000,0000,,having stopped in powered tools and women shoes along the way?
Dialogue: 0,0:00:33.20,0:00:36.79,Default,,0000,0000,0000,,Yet the founder and Chief Executive Officer
Dialogue: 0,0:00:36.79,0:00:39.98,Default,,0000,0000,0000,,of the world's largest e-tailer,
Dialogue: 0,0:00:39.98,0:00:46.21,Default,,0000,0000,0000,,whose net sales surpassed 24.5 billion dollars in 2009,
Dialogue: 0,0:00:46.21,0:00:49.16,Default,,0000,0000,0000,,is only 46 year old,
Dialogue: 0,0:00:49.16,0:00:52.63,Default,,0000,0000,0000,,and Amazon.com has only existed
Dialogue: 0,0:00:52.63,0:00:56.91,Default,,0000,0000,0000,,since 1995, making it even younger
Dialogue: 0,0:00:56.91,0:01:00.57,Default,,0000,0000,0000,,than the class of 2010.
Dialogue: 0,0:01:00.57,0:01:03.01,Default,,0000,0000,0000,,The moral of this story
Dialogue: 0,0:01:03.01,0:01:05.04,Default,,0000,0000,0000,,is that the right idea
Dialogue: 0,0:01:05.04,0:01:08.11,Default,,0000,0000,0000,,in the right hands, at the right time,
Dialogue: 0,0:01:08.11,0:01:11.55,Default,,0000,0000,0000,,can change the way we lead our lives.
Dialogue: 0,0:01:11.55,0:01:14.19,Default,,0000,0000,0000,,The idea, in this case,
Dialogue: 0,0:01:14.19,0:01:17.42,Default,,0000,0000,0000,,was harnessing the power of the nascent Internet
Dialogue: 0,0:01:17.42,0:01:22.18,Default,,0000,0000,0000,,to create a virtual bookstore of limitless proportions.
Dialogue: 0,0:01:22.18,0:01:26.76,Default,,0000,0000,0000,,The hands were those of our speaker, Jeff Bezos,
Dialogue: 0,0:01:26.76,0:01:29.65,Default,,0000,0000,0000,,a self-described nerdy
Dialogue: 0,0:01:29.65,0:01:33.84,Default,,0000,0000,0000,,computer science and electrical engineering major
Dialogue: 0,0:01:33.84,0:01:37.32,Default,,0000,0000,0000,,who graduated from Princeton with highest honors
Dialogue: 0,0:01:37.32,0:01:41.03,Default,,0000,0000,0000,,in 1986.
Dialogue: 0,0:01:41.03,0:01:44.07,Default,,0000,0000,0000,,And the time was 1994,
Dialogue: 0,0:01:44.07,0:01:47.81,Default,,0000,0000,0000,,when he and his wife Mackenzie Tuttle Bezos,
Dialogue: 0,0:01:47.81,0:01:50.90,Default,,0000,0000,0000,,of the class of 1992,
Dialogue: 0,0:01:50.90,0:01:53.79,Default,,0000,0000,0000,,exchanged the security of Wall Street,
Dialogue: 0,0:01:53.79,0:01:57.09,Default,,0000,0000,0000,,where they worked at D.E. Shaw & Co.,
Dialogue: 0,0:01:57.09,0:02:01.97,Default,,0000,0000,0000,,for the uncertain prospects of a dot com start-up.
Dialogue: 0,0:02:01.97,0:02:04.39,Default,,0000,0000,0000,,But then, as Jeff points out,
Dialogue: 0,0:02:04.39,0:02:06.72,Default,,0000,0000,0000,,"failure is an essential component"
Dialogue: 0,0:02:06.72,0:02:09.44,Default,,0000,0000,0000,,"of innovation and invention."
Dialogue: 0,0:02:09.44,0:02:11.64,Default,,0000,0000,0000,,"If you know it's going to work,"
Dialogue: 0,0:02:11.64,0:02:14.34,Default,,0000,0000,0000,,"it's not an experiment."
Dialogue: 0,0:02:14.34,0:02:19.54,Default,,0000,0000,0000,,And Amazon.com was nothing if not a grand experiment.
Dialogue: 0,0:02:19.54,0:02:23.81,Default,,0000,0000,0000,,Working on improvised tables in the garage of his Seattle home,
Dialogue: 0,0:02:23.81,0:02:27.59,Default,,0000,0000,0000,,and using his parents' savings as start-up capital,
Dialogue: 0,0:02:27.59,0:02:33.06,Default,,0000,0000,0000,,Jeff defied the forces that cause most young companies to fail.
Dialogue: 0,0:02:33.06,0:02:36.83,Default,,0000,0000,0000,,Partly, he admits, through sheer good fortune,
Dialogue: 0,0:02:36.83,0:02:40.59,Default,,0000,0000,0000,,but also because of his unwavering determination
Dialogue: 0,0:02:40.59,0:02:46.33,Default,,0000,0000,0000,,to create the world's most customers-centric company.
Dialogue: 0,0:02:46.33,0:02:50.62,Default,,0000,0000,0000,,And as he notes in his company's latest annual report,
Dialogue: 0,0:02:50.62,0:02:56.90,Default,,0000,0000,0000,,of the 452 goals that Amazon.com has set for itself this year,
Dialogue: 0,0:02:56.90,0:03:02.96,Default,,0000,0000,0000,,360 of them will directly affect the customer experience,
Dialogue: 0,0:03:02.96,0:03:08.47,Default,,0000,0000,0000,,while the word "revenue" is used on only 8 occasions.
Dialogue: 0,0:03:08.47,0:03:11.01,Default,,0000,0000,0000,,I do not advise you
Dialogue: 0,0:03:11.01,0:03:14.77,Default,,0000,0000,0000,,to start off with 452 goals this year,
Dialogue: 0,0:03:14.77,0:03:17.35,Default,,0000,0000,0000,,by the way.
Dialogue: 0,0:03:17.35,0:03:21.39,Default,,0000,0000,0000,,But this is just one of the keys to Jeff's success.
Dialogue: 0,0:03:21.39,0:03:24.23,Default,,0000,0000,0000,,Another lies in his exceptional ability
Dialogue: 0,0:03:24.23,0:03:27.76,Default,,0000,0000,0000,,to marry commerce and technology in creative ways,
Dialogue: 0,0:03:27.76,0:03:31.49,Default,,0000,0000,0000,,in his sheer inventiveness and willingness
Dialogue: 0,0:03:31.49,0:03:34.76,Default,,0000,0000,0000,,to take the risks inherent in this process.
Dialogue: 0,0:03:34.76,0:03:38.29,Default,,0000,0000,0000,,Indeed, the history of Amazon.com
Dialogue: 0,0:03:38.29,0:03:40.88,Default,,0000,0000,0000,,is one of daring leaps.
Dialogue: 0,0:03:40.88,0:03:43.78,Default,,0000,0000,0000,,One such leap involved creating the capacity
Dialogue: 0,0:03:43.78,0:03:47.20,Default,,0000,0000,0000,,to search inside the books sold by his company,
Dialogue: 0,0:03:47.20,0:03:50.97,Default,,0000,0000,0000,,not by designing a modest pilot project,
Dialogue: 0,0:03:50.97,0:03:54.52,Default,,0000,0000,0000,,but by committing the resources to make it possible
Dialogue: 0,0:03:54.52,0:03:59.23,Default,,0000,0000,0000,,to scour the text of more 120,000 volumes,
Dialogue: 0,0:03:59.23,0:04:03.40,Default,,0000,0000,0000,,when this feature debuted in 2003.
Dialogue: 0,0:04:03.40,0:04:06.22,Default,,0000,0000,0000,,Other innovations have included
Dialogue: 0,0:04:06.22,0:04:10.34,Default,,0000,0000,0000,,one-click shopping, online product reviews by customers,
Dialogue: 0,0:04:10.34,0:04:13.100,Default,,0000,0000,0000,,and of course, the Kindle reading device,
Dialogue: 0,0:04:13.100,0:04:17.88,Default,,0000,0000,0000,,which we test-drove in 3 courses this fall.
Dialogue: 0,0:04:17.88,0:04:21.51,Default,,0000,0000,0000,,Mirroring the rapid growth of Amazon itself,
Dialogue: 0,0:04:21.51,0:04:24.88,Default,,0000,0000,0000,,the number of books available through the US Kindle store
Dialogue: 0,0:04:24.88,0:04:29.06,Default,,0000,0000,0000,,topped 460,000 in 2009,
Dialogue: 0,0:04:29.06,0:04:32.76,Default,,0000,0000,0000,,just 2 years after its launch.
Dialogue: 0,0:04:32.76,0:04:35.71,Default,,0000,0000,0000,,And there is no turning back.
Dialogue: 0,0:04:35.71,0:04:38.14,Default,,0000,0000,0000,,"Our vision is every book,"
Dialogue: 0,0:04:38.14,0:04:41.52,Default,,0000,0000,0000,,"every print ed, in any language,"
Dialogue: 0,0:04:41.52,0:04:44.47,Default,,0000,0000,0000,,"all available in less than 60 seconds,"
Dialogue: 0,0:04:44.47,0:04:48.19,Default,,0000,0000,0000,,Jeff has stated. An audacious proposition
Dialogue: 0,0:04:48.19,0:04:52.25,Default,,0000,0000,0000,,to be sure, but as Albert Einstein once observed,
Dialogue: 0,0:04:52.25,0:04:55.26,Default,,0000,0000,0000,,"If at first the idea is not absurd,"
Dialogue: 0,0:04:55.26,0:04:57.95,Default,,0000,0000,0000,,"then there is no hope for it."
Dialogue: 0,0:04:57.95,0:05:01.33,Default,,0000,0000,0000,,Perhaps the American Academy of Achievements
Dialogue: 0,0:05:01.33,0:05:04.17,Default,,0000,0000,0000,,summarized our speaker's impact best
Dialogue: 0,0:05:04.17,0:05:07.27,Default,,0000,0000,0000,,when it noted: "Having already"
Dialogue: 0,0:05:07.27,0:05:10.86,Default,,0000,0000,0000,,"revolutionized the way the world buys books,"
Dialogue: 0,0:05:10.86,0:05:13.72,Default,,0000,0000,0000,,"Jeff Bezos is now transforming the way"
Dialogue: 0,0:05:13.72,0:05:16.39,Default,,0000,0000,0000,,"we read them as well."
Dialogue: 0,0:05:16.39,0:05:18.49,Default,,0000,0000,0000,,I like to think that Princeton helped
Dialogue: 0,0:05:18.49,0:05:21.61,Default,,0000,0000,0000,,to lay the groundwork for this revolution.
Dialogue: 0,0:05:21.61,0:05:23.98,Default,,0000,0000,0000,,Dreamer and doer.
Dialogue: 0,0:05:23.98,0:05:27.13,Default,,0000,0000,0000,,Entrepreneur and engineer.
Dialogue: 0,0:05:27.13,0:05:29.68,Default,,0000,0000,0000,,Refreshingly unassuming,
Dialogue: 0,0:05:29.68,0:05:32.79,Default,,0000,0000,0000,,even in the face of unimaginable success,
Dialogue: 0,0:05:32.79,0:05:36.08,Default,,0000,0000,0000,,Jeff has done his alma mater proud.
Dialogue: 0,0:05:36.08,0:05:38.83,Default,,0000,0000,0000,,It is a true honour and pleasure
Dialogue: 0,0:05:38.83,0:05:42.57,Default,,0000,0000,0000,,to welcoming him back to Old Nassau today.
Dialogue: 0,0:05:42.57,0:05:46.17,Default,,0000,0000,0000,,[Applause]
Dialogue: 0,0:05:46.17,0:06:26.42,Default,,0000,0000,0000,,
Dialogue: 0,0:06:26.42,0:06:30.74,Default,,0000,0000,0000,,As a kid,
Dialogue: 0,0:06:30.74,0:06:33.87,Default,,0000,0000,0000,,I spent my summers with my grandparents
Dialogue: 0,0:06:33.87,0:06:36.80,Default,,0000,0000,0000,,on their ranch in Texas.
Dialogue: 0,0:06:36.80,0:06:39.01,Default,,0000,0000,0000,,I helped fix windmills,
Dialogue: 0,0:06:39.01,0:06:41.24,Default,,0000,0000,0000,,vaccinate cattle,
Dialogue: 0,0:06:41.24,0:06:43.100,Default,,0000,0000,0000,,and do other chores.
Dialogue: 0,0:06:43.100,0:06:47.12,Default,,0000,0000,0000,,We also watched soap operas every afternoon,
Dialogue: 0,0:06:47.12,0:06:50.31,Default,,0000,0000,0000,,especially Days of Our Lives.
Dialogue: 0,0:06:50.31,0:06:55.40,Default,,0000,0000,0000,,My grandparents belonged to a caravan club,
Dialogue: 0,0:06:55.40,0:06:59.15,Default,,0000,0000,0000,,a group of Airstream trailer owners
Dialogue: 0,0:06:59.15,0:07:03.51,Default,,0000,0000,0000,,who travelled together around the US and Canada.
Dialogue: 0,0:07:03.51,0:07:05.71,Default,,0000,0000,0000,,And every few summers,
Dialogue: 0,0:07:05.71,0:07:08.57,Default,,0000,0000,0000,,we'd join the caravan.
Dialogue: 0,0:07:08.57,0:07:10.95,Default,,0000,0000,0000,,We'd hitch up the Airstream
Dialogue: 0,0:07:10.95,0:07:13.52,Default,,0000,0000,0000,,to my grandfather's car
Dialogue: 0,0:07:13.52,0:07:16.65,Default,,0000,0000,0000,,and off we'd go.
Dialogue: 0,0:07:16.65,0:07:19.12,Default,,0000,0000,0000,,In line with 300 other
Dialogue: 0,0:07:19.12,0:07:21.97,Default,,0000,0000,0000,,Airstream adventurers.
Dialogue: 0,0:07:21.97,0:07:25.93,Default,,0000,0000,0000,,I loved and worshipped my grandparents.
Dialogue: 0,0:07:25.93,0:07:30.84,Default,,0000,0000,0000,,And I really looked forward to these trips.
Dialogue: 0,0:07:30.84,0:07:33.31,Default,,0000,0000,0000,,On one particular trip -
Dialogue: 0,0:07:33.31,0:07:35.80,Default,,0000,0000,0000,,I was about 10 years old -,
Dialogue: 0,0:07:35.80,0:07:38.05,Default,,0000,0000,0000,,I was rolling around
Dialogue: 0,0:07:38.05,0:07:40.78,Default,,0000,0000,0000,,in the big bench-seat
Dialogue: 0,0:07:40.78,0:07:43.57,Default,,0000,0000,0000,,in the back of the car,
Dialogue: 0,0:07:43.57,0:07:46.14,Default,,0000,0000,0000,,my grandfather was driving
Dialogue: 0,0:07:46.14,0:07:50.36,Default,,0000,0000,0000,,and my grandmother had the passenger's seat.
Dialogue: 0,0:07:50.36,0:07:54.41,Default,,0000,0000,0000,,She smoked throughout these trips.
Dialogue: 0,0:07:54.41,0:08:03.59,Default,,0000,0000,0000,,And I hated the smell.
Dialogue: 0,0:08:03.59,0:08:07.07,Default,,0000,0000,0000,,At that age, I'd take any excuse
Dialogue: 0,0:08:07.07,0:08:10.58,Default,,0000,0000,0000,,to make estimates and do minor arithmetic,
Dialogue: 0,0:08:10.58,0:08:13.35,Default,,0000,0000,0000,,I'd calculate our gas mileage,
Dialogue: 0,0:08:13.35,0:08:18.13,Default,,0000,0000,0000,,figure out useless statistics on things like groceries spending.
Dialogue: 0,0:08:18.13,0:08:22.58,Default,,0000,0000,0000,,I'd been hearing an ad campaign about smoking.
Dialogue: 0,0:08:22.58,0:08:26.85,Default,,0000,0000,0000,,I can't remember the details but basically, the ads said:
Dialogue: 0,0:08:26.85,0:08:29.35,Default,,0000,0000,0000,,"Every puff of a cigarette"
Dialogue: 0,0:08:29.35,0:08:31.79,Default,,0000,0000,0000,,"takes some number of minutes off of your life."
Dialogue: 0,0:08:31.79,0:08:35.15,Default,,0000,0000,0000,,I think it might have been 2 minutes per puff.
Dialogue: 0,0:08:35.15,0:08:37.76,Default,,0000,0000,0000,,At any rate, I decided
Dialogue: 0,0:08:37.76,0:08:40.61,Default,,0000,0000,0000,,to do the math for my grandmother.
Dialogue: 0,0:08:40.61,0:08:43.52,Default,,0000,0000,0000,,I estimated the number of cigarettes per day,
Dialogue: 0,0:08:43.52,0:08:46.98,Default,,0000,0000,0000,,estimated the number of puffs per cigarette and so on.
Dialogue: 0,0:08:46.98,0:08:49.46,Default,,0000,0000,0000,,When I was satisfied that I had come up
Dialogue: 0,0:08:49.46,0:08:51.77,Default,,0000,0000,0000,,with a reasonable number,
Dialogue: 0,0:08:51.77,0:08:54.26,Default,,0000,0000,0000,,I poked my head into the front of the car,
Dialogue: 0,0:08:54.26,0:08:57.50,Default,,0000,0000,0000,,tapped my grandmother on the shoulder,
Dialogue: 0,0:08:57.50,0:08:59.50,Default,,0000,0000,0000,,and proudly proclaimed:
Dialogue: 0,0:08:59.50,0:09:02.06,Default,,0000,0000,0000,,"At 2 minutes per puff,"
Dialogue: 0,0:09:02.06,0:09:05.33,Default,,0000,0000,0000,,"you've taken 9 years off of your life!"
Dialogue: 0,0:09:05.33,0:09:08.51,Default,,0000,0000,0000,,
Dialogue: 0,0:09:08.51,0:09:13.09,Default,,0000,0000,0000,,I have a very vivid memory of what happened next.
Dialogue: 0,0:09:13.09,0:09:15.70,Default,,0000,0000,0000,,And it was not what I had expected.
Dialogue: 0,0:09:15.70,0:09:17.88,Default,,0000,0000,0000,,
Dialogue: 0,0:09:17.88,0:09:20.92,Default,,0000,0000,0000,,I expected to be applauded for my cleverness
Dialogue: 0,0:09:20.92,0:09:23.59,Default,,0000,0000,0000,,and my arithmetic skills.
Dialogue: 0,0:09:23.59,0:09:25.90,Default,,0000,0000,0000,,
Dialogue: 0,0:09:25.90,0:09:29.56,Default,,0000,0000,0000,,"Jeff, you're so smart!"
Dialogue: 0,0:09:29.56,0:09:32.88,Default,,0000,0000,0000,,"You had to have made some tricky estimates,"
Dialogue: 0,0:09:32.88,0:09:35.82,Default,,0000,0000,0000,,"figure out the number of minutes in a year,"
Dialogue: 0,0:09:35.82,0:09:39.30,Default,,0000,0000,0000,,"and do some division..."
Dialogue: 0,0:09:39.30,0:09:42.41,Default,,0000,0000,0000,,That's not what happened.
Dialogue: 0,0:09:42.41,0:09:44.41,Default,,0000,0000,0000,,Instead,
Dialogue: 0,0:09:44.41,0:09:47.18,Default,,0000,0000,0000,,my grandmother burst into tears.
Dialogue: 0,0:09:47.18,0:09:50.99,Default,,0000,0000,0000,,
Dialogue: 0,0:09:50.99,0:09:53.70,Default,,0000,0000,0000,,I sat in the back seat,
Dialogue: 0,0:09:53.70,0:09:57.59,Default,,0000,0000,0000,,and didn't know what to do while my grandmother was crying.
Dialogue: 0,0:09:57.59,0:10:00.16,Default,,0000,0000,0000,,My grandfather, who'd been driving in silence,
Dialogue: 0,0:10:00.16,0:10:03.88,Default,,0000,0000,0000,,pulled over onto the shoulder of the highway.
Dialogue: 0,0:10:03.88,0:10:06.08,Default,,0000,0000,0000,,He got out of the car
Dialogue: 0,0:10:06.08,0:10:08.51,Default,,0000,0000,0000,,and came around and opened my door,
Dialogue: 0,0:10:08.51,0:10:12.29,Default,,0000,0000,0000,,and waited for me to follow. Was I in trouble?
Dialogue: 0,0:10:12.29,0:10:14.81,Default,,0000,0000,0000,,My grandfather was a highly intelligent,
Dialogue: 0,0:10:14.81,0:10:17.14,Default,,0000,0000,0000,,quiet man.
Dialogue: 0,0:10:17.14,0:10:19.30,Default,,0000,0000,0000,,He had never said a harsh word to me,
Dialogue: 0,0:10:19.30,0:10:21.70,Default,,0000,0000,0000,,and maybe this was to be the first time.
Dialogue: 0,0:10:21.70,0:10:24.62,Default,,0000,0000,0000,,Or maybe he would ask that I get back in the car
Dialogue: 0,0:10:24.62,0:10:27.78,Default,,0000,0000,0000,,and apologize to my grandmother.
Dialogue: 0,0:10:27.78,0:10:30.34,Default,,0000,0000,0000,,I had no experience in this realm
Dialogue: 0,0:10:30.34,0:10:32.66,Default,,0000,0000,0000,,with my grandparents,
Dialogue: 0,0:10:32.66,0:10:36.06,Default,,0000,0000,0000,,and no way to gauge what the consequences might be.
Dialogue: 0,0:10:36.06,0:10:39.21,Default,,0000,0000,0000,,We stopped beside the trailer.
Dialogue: 0,0:10:39.21,0:10:42.14,Default,,0000,0000,0000,,My grandfather looked at me,
Dialogue: 0,0:10:42.14,0:10:44.97,Default,,0000,0000,0000,,and after a bit of silence,
Dialogue: 0,0:10:44.97,0:10:48.52,Default,,0000,0000,0000,,he gently and calmly said:
Dialogue: 0,0:10:48.52,0:10:51.93,Default,,0000,0000,0000,,"Jeff, one day,"
Dialogue: 0,0:10:51.93,0:10:54.68,Default,,0000,0000,0000,,"you'll understand"
Dialogue: 0,0:10:54.68,0:10:57.26,Default,,0000,0000,0000,,"that it's harder to be kind"
Dialogue: 0,0:10:57.26,0:10:59.92,Default,,0000,0000,0000,,"than clever."
Dialogue: 0,0:10:59.92,0:11:02.58,Default,,0000,0000,0000,,
Dialogue: 0,0:11:02.58,0:11:05.24,Default,,0000,0000,0000,,What I want to talk to you about today
Dialogue: 0,0:11:05.24,0:11:07.39,Default,,0000,0000,0000,,is the difference between
Dialogue: 0,0:11:07.39,0:11:10.30,Default,,0000,0000,0000,,gifts and choices.
Dialogue: 0,0:11:10.30,0:11:12.65,Default,,0000,0000,0000,,Cleverness is a gift.
Dialogue: 0,0:11:12.65,0:11:15.26,Default,,0000,0000,0000,,Kindness is a choice.
Dialogue: 0,0:11:15.26,0:11:18.50,Default,,0000,0000,0000,,Gifts are easy - they're given, after all.
Dialogue: 0,0:11:18.50,0:11:21.36,Default,,0000,0000,0000,,Choices can be hard.
Dialogue: 0,0:11:21.36,0:11:23.98,Default,,0000,0000,0000,,You can seduce yourself with your gifts
Dialogue: 0,0:11:23.98,0:11:26.06,Default,,0000,0000,0000,,if you're not careful.
Dialogue: 0,0:11:26.06,0:11:28.30,Default,,0000,0000,0000,,And if you do, it will probably be
Dialogue: 0,0:11:28.30,0:11:31.17,Default,,0000,0000,0000,,to the detriment of your choices.
Dialogue: 0,0:11:31.17,0:11:33.77,Default,,0000,0000,0000,,This is a group with many gifts.
Dialogue: 0,0:11:33.77,0:11:36.01,Default,,0000,0000,0000,,I am sure one of your gifts
Dialogue: 0,0:11:36.01,0:11:39.01,Default,,0000,0000,0000,,is the gift of a smart and capable brain.
Dialogue: 0,0:11:39.01,0:11:41.36,Default,,0000,0000,0000,,I am confident that's the case, because
Dialogue: 0,0:11:41.36,0:11:44.06,Default,,0000,0000,0000,,admission is competitive, and if there weren't
Dialogue: 0,0:11:44.06,0:11:46.48,Default,,0000,0000,0000,,some signs that you're clever,
Dialogue: 0,0:11:46.48,0:11:48.90,Default,,0000,0000,0000,,the Dean of admissions wouldn't have let you in.
Dialogue: 0,0:11:48.90,0:11:51.32,Default,,0000,0000,0000,,
Dialogue: 0,0:11:51.32,0:11:53.75,Default,,0000,0000,0000,,Your smarts will come in handy
Dialogue: 0,0:11:53.75,0:11:56.73,Default,,0000,0000,0000,,because you will travel in a land of marvels.
Dialogue: 0,0:11:56.73,0:11:59.25,Default,,0000,0000,0000,,We humans, plodding as we are,
Dialogue: 0,0:11:59.25,0:12:02.00,Default,,0000,0000,0000,,will astonish ourselves,
Dialogue: 0,0:12:02.00,0:12:04.69,Default,,0000,0000,0000,,will invent ways to generate clean energy -
Dialogue: 0,0:12:04.69,0:12:07.62,Default,,0000,0000,0000,,and a lot of it -, atom by atom,
Dialogue: 0,0:12:07.62,0:12:11.24,Default,,0000,0000,0000,,we'll assemble small machines that can enter cell walls
Dialogue: 0,0:12:11.24,0:12:13.81,Default,,0000,0000,0000,,and make repairs...
Dialogue: 0,0:12:13.81,0:12:17.66,Default,,0000,0000,0000,,This month comes the extraordinary but inevitable news
Dialogue: 0,0:12:17.66,0:12:20.27,Default,,0000,0000,0000,,that we've synthesized life.
Dialogue: 0,0:12:20.27,0:12:23.06,Default,,0000,0000,0000,,And in the coming years we'll not only synthesize it,
Dialogue: 0,0:12:23.06,0:12:26.39,Default,,0000,0000,0000,,but engineer it to specifications.
Dialogue: 0,0:12:26.39,0:12:30.71,Default,,0000,0000,0000,,I believe you'll even see us understand the human brain.
Dialogue: 0,0:12:30.71,0:12:33.27,Default,,0000,0000,0000,,Jules Verne, Mark Twain,
Dialogue: 0,0:12:33.27,0:12:35.65,Default,,0000,0000,0000,,Galileo, Newton,
Dialogue: 0,0:12:35.65,0:12:38.46,Default,,0000,0000,0000,,all the curious from the ages
Dialogue: 0,0:12:38.46,0:12:40.81,Default,,0000,0000,0000,,would have wanted to be alive
Dialogue: 0,0:12:40.81,0:12:43.73,Default,,0000,0000,0000,,most of all right now.
Dialogue: 0,0:12:43.73,0:12:47.06,Default,,0000,0000,0000,,As a civilization, we will have so many gifts.
Dialogue: 0,0:12:47.06,0:12:49.58,Default,,0000,0000,0000,,Just as you, as individuals,
Dialogue: 0,0:12:49.58,0:12:53.22,Default,,0000,0000,0000,,have so many individual gifts as you sit before me.
Dialogue: 0,0:12:53.22,0:12:55.75,Default,,0000,0000,0000,,How will you use these gifts?
Dialogue: 0,0:12:55.75,0:12:58.26,Default,,0000,0000,0000,,And will you take pride in your gifts
Dialogue: 0,0:12:58.26,0:13:00.76,Default,,0000,0000,0000,,or pride in your choices?
Dialogue: 0,0:13:00.76,0:13:04.76,Default,,0000,0000,0000,,I got the idea to start Amazon 16 years ago.
Dialogue: 0,0:13:04.76,0:13:07.80,Default,,0000,0000,0000,,I came across the fact that Web usage
Dialogue: 0,0:13:07.80,0:13:11.10,Default,,0000,0000,0000,,was growing at 2,300 percent per year.
Dialogue: 0,0:13:11.10,0:13:13.55,Default,,0000,0000,0000,,I had never seen or heard
Dialogue: 0,0:13:13.55,0:13:16.58,Default,,0000,0000,0000,,of anything that grew that fast.
Dialogue: 0,0:13:16.58,0:13:19.26,Default,,0000,0000,0000,,The idea of building an online bookstore
Dialogue: 0,0:13:19.26,0:13:21.62,Default,,0000,0000,0000,,with millions of titles,
Dialogue: 0,0:13:21.62,0:13:24.29,Default,,0000,0000,0000,,something that simply couldn't exist in the physical world,
Dialogue: 0,0:13:24.29,0:13:27.02,Default,,0000,0000,0000,,was very exciting to me.
Dialogue: 0,0:13:27.02,0:13:29.52,Default,,0000,0000,0000,,I'd just turned 30 years old
Dialogue: 0,0:13:29.52,0:13:31.95,Default,,0000,0000,0000,,and I had been married for a year.
Dialogue: 0,0:13:31.95,0:13:35.00,Default,,0000,0000,0000,,I told my wife Mackenzie that I wanted to quit my job
Dialogue: 0,0:13:35.00,0:13:37.36,Default,,0000,0000,0000,,and go do this crazy thing
Dialogue: 0,0:13:37.36,0:13:39.60,Default,,0000,0000,0000,,that probably wouldn't work,
Dialogue: 0,0:13:39.60,0:13:41.98,Default,,0000,0000,0000,,since most start-ups don't,
Dialogue: 0,0:13:41.98,0:13:44.98,Default,,0000,0000,0000,,and I wasn't sure what would happen after that.
Dialogue: 0,0:13:44.98,0:13:47.90,Default,,0000,0000,0000,,Mackenzie, also a Princeton grad and sitting
Dialogue: 0,0:13:47.90,0:13:50.33,Default,,0000,0000,0000,,here in the second row,
Dialogue: 0,0:13:50.33,0:13:53.07,Default,,0000,0000,0000,,told me I should go for it.
Dialogue: 0,0:13:53.07,0:13:56.36,Default,,0000,0000,0000,,As a young boy, I had been
Dialogue: 0,0:13:56.36,0:13:59.04,Default,,0000,0000,0000,,a garage inventor;
Dialogue: 0,0:13:59.04,0:14:01.46,Default,,0000,0000,0000,,I had invented an automatic gate-closer
Dialogue: 0,0:14:01.46,0:14:03.78,Default,,0000,0000,0000,,out of cement-filled tires,
Dialogue: 0,0:14:03.78,0:14:06.16,Default,,0000,0000,0000,,a solar cooker that didn't work very well
Dialogue: 0,0:14:06.16,0:14:08.89,Default,,0000,0000,0000,,out of an umbrella and aluminum foil,
Dialogue: 0,0:14:08.89,0:14:12.35,Default,,0000,0000,0000,,baking-pan alarms to entrap my siblings.
Dialogue: 0,0:14:12.35,0:14:14.83,Default,,0000,0000,0000,,I'd always wanted to be an inventor
Dialogue: 0,0:14:14.83,0:14:17.49,Default,,0000,0000,0000,,and she wanted me to follow my passion.
Dialogue: 0,0:14:17.49,0:14:20.15,Default,,0000,0000,0000,,
Dialogue: 0,0:14:20.15,0:14:22.81,Default,,0000,0000,0000,,I was working at a financial firm in NYC
Dialogue: 0,0:14:22.81,0:14:25.54,Default,,0000,0000,0000,,with a bunch of very smart people
Dialogue: 0,0:14:25.54,0:14:28.90,Default,,0000,0000,0000,,and I had a brilliant boss I much admired.
Dialogue: 0,0:14:28.90,0:14:31.27,Default,,0000,0000,0000,,I went to my boss
Dialogue: 0,0:14:31.27,0:14:33.74,Default,,0000,0000,0000,,and told him I was going to start a company
Dialogue: 0,0:14:33.74,0:14:36.40,Default,,0000,0000,0000,,selling books on the Internet.
Dialogue: 0,0:14:36.40,0:14:40.16,Default,,0000,0000,0000,,He took me on a long walk in Central Park,
Dialogue: 0,0:14:40.16,0:14:42.62,Default,,0000,0000,0000,,listened carefully to me,
Dialogue: 0,0:14:42.62,0:14:44.90,Default,,0000,0000,0000,,and finally said:
Dialogue: 0,0:14:44.90,0:14:47.51,Default,,0000,0000,0000,,"That sounds like a really good idea."
Dialogue: 0,0:14:47.51,0:14:49.98,Default,,0000,0000,0000,,"But it would be an even better idea"
Dialogue: 0,0:14:49.98,0:14:52.75,Default,,0000,0000,0000,,"for someone who didn't already have a good job."
Dialogue: 0,0:14:52.75,0:14:56.28,Default,,0000,0000,0000,,[Laughs]
Dialogue: 0,0:14:56.28,0:14:58.92,Default,,0000,0000,0000,,That logic made some sense to me
Dialogue: 0,0:14:58.92,0:15:02.09,Default,,0000,0000,0000,,and he had convinced me to think about it for 48 hours
Dialogue: 0,0:15:02.09,0:15:05.10,Default,,0000,0000,0000,,before making a final decision.
Dialogue: 0,0:15:05.10,0:15:08.10,Default,,0000,0000,0000,,
Dialogue: 0,0:15:08.10,0:15:11.11,Default,,0000,0000,0000,,Seen in that light, it really was a difficult choice.
Dialogue: 0,0:15:11.11,0:15:13.70,Default,,0000,0000,0000,,But ultimately, I decided
Dialogue: 0,0:15:13.70,0:15:16.16,Default,,0000,0000,0000,,I had to give it a shot.
Dialogue: 0,0:15:16.16,0:15:18.75,Default,,0000,0000,0000,,I didn't think I'd regret
Dialogue: 0,0:15:18.75,0:15:21.16,Default,,0000,0000,0000,,trying and failing.
Dialogue: 0,0:15:21.16,0:15:23.64,Default,,0000,0000,0000,,And I suspected I would always be haunted
Dialogue: 0,0:15:23.64,0:15:28.06,Default,,0000,0000,0000,,by a decision to not try at all.
Dialogue: 0,0:15:28.06,0:15:30.86,Default,,0000,0000,0000,,After much consideration,
Dialogue: 0,0:15:30.86,9:59:59.99,Default,,0000,0000,0000,,I took the last safe path
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,to follow my passion.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,And I'm proud of that choice.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Tomorrow,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,in a very real sense, your life,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the life you author from scratch,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,on your own, begins.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,How will you use your gifts?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,What choice will you make?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Will inertia be your guide
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or will you follow your passions?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Will you follow dogma
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or will you be original?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Will you choose a life of ease
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or a life of service and adventure?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Will you wilt under criticism
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or will you follow your convictions?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Will you bluff it out when you're wrong
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or will you apologize?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Will you guard your heart
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,against rejection
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or will you act when you fall in love?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Will you play it safe
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or will you be a little swashbuckling?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,When it's tough, will you give up
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or will you be relentless?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Will you be a cynic
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or will you be a builder?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Will you be clever
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,at the expense of others
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,or will you be kind?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,I will hazard a prediction.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,When you are 80 years old
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and, in a quiet moment of reflection,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,narrating for only yourself
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the most personal version
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,of your life's story,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the telling that will be most compact
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and meaningful
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,will be the series of choices you have made.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,In the end,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,we are our choices.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Build yourself a great story.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Thank you and good luck.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,[Applause]