1 99:59:59,999 --> 99:59:59,999 Today actually is a very special day for me, 2 99:59:59,999 --> 99:59:59,999 because it is my birthday. 3 99:59:59,999 --> 99:59:59,999 (Applause) 4 99:59:59,999 --> 99:59:59,999 And so thanks for all of you for joining the party. 5 99:59:59,999 --> 99:59:59,999 (Laughter) 6 99:59:59,999 --> 99:59:59,999 But every time you throw a party, there's someone there to spoil it. Right? 7 99:59:59,999 --> 99:59:59,999 (Laughter) 8 99:59:59,999 --> 99:59:59,999 And I'm a physicist, 9 99:59:59,999 --> 99:59:59,999 and this time I brought another physicist along to do so. 10 99:59:59,999 --> 99:59:59,999 His name is Albert Einstein, also Albert, 11 99:59:59,999 --> 99:59:59,999 and he's the one who said that the person 12 99:59:59,999 --> 99:59:59,999 who has not made his main contributions to science by the age of 30 13 99:59:59,999 --> 99:59:59,999 will never do so. 14 99:59:59,999 --> 99:59:59,999 Now you don't need to check Wikipedia 15 99:59:59,999 --> 99:59:59,999 that I'm being 30. 16 99:59:59,999 --> 99:59:59,999 (Laughter) 17 99:59:59,999 --> 99:59:59,999 So effectively what he is telling me, and us, 18 99:59:59,999 --> 99:59:59,999 is that when it comes to my science, 19 99:59:59,999 --> 99:59:59,999 I'm a dead wood. 20 99:59:59,999 --> 99:59:59,999 Well, luckily, I had my share of luck within my career. 21 99:59:59,999 --> 99:59:59,999 Around age 28, I became very interested in networks, 22 99:59:59,999 --> 99:59:59,999 and a few years later we managed to kind of publish a few key papers 23 99:59:59,999 --> 99:59:59,999 that reported the discovery of scale-free networks 24 99:59:59,999 --> 99:59:59,999 and really gave birth to a new discipline that we call network science today. 25 99:59:59,999 --> 99:59:59,999 And if you really care about it, you can get a PhD now in network science 26 99:59:59,999 --> 99:59:59,999 in Budapest, in Boston, 27 99:59:59,999 --> 99:59:59,999 and you can study it all over the world. 28 99:59:59,999 --> 99:59:59,999 A few years later, 29 99:59:59,999 --> 99:59:59,999 when I moved to Harvard first as a sabbatical, 30 99:59:59,999 --> 99:59:59,999 I became interested in another type of networks, 31 99:59:59,999 --> 99:59:59,999 and that time the networks within ourselves, 32 99:59:59,999 --> 99:59:59,999 how the genes and the proteins and the metabolites link to each other, 33 99:59:59,999 --> 99:59:59,999 and how they connect to disease. 34 99:59:59,999 --> 99:59:59,999 And that also, that interest led to a major explosion within medicine, 35 99:59:59,999 --> 99:59:59,999 including the Network Medicine Division at Harvard 36 99:59:59,999 --> 99:59:59,999 that has more than 300 researchers who are using this perspective 37 99:59:59,999 --> 99:59:59,999 to treat patients and develop new cures. 38 99:59:59,999 --> 99:59:59,999 And a few years ago, I thought that I would take this idea of networks 39 99:59:59,999 --> 99:59:59,999 and expertise we had in networks in a different area, 40 99:59:59,999 --> 99:59:59,999 that is to understand success. 41 99:59:59,999 --> 99:59:59,999 And why did we do that? 42 99:59:59,999 --> 99:59:59,999 Well, we thought that to some degree, 43 99:59:59,999 --> 99:59:59,999 our success is determined by the networks we are part of, 44 99:59:59,999 --> 99:59:59,999 that our networks can push us forward, they can pull us back, 45 99:59:59,999 --> 99:59:59,999 and I was curious if we could use the knowledge in big data and expertise 46 99:59:59,999 --> 99:59:59,999 that we develop on networks to really quantify how these things happen. 47 99:59:59,999 --> 99:59:59,999 This is a result from that. 48 99:59:59,999 --> 99:59:59,999 What you see here is a network of galleries in museums 49 99:59:59,999 --> 99:59:59,999 that connect to each other, 50 99:59:59,999 --> 99:59:59,999 and through this map that we mapped out last year, 51 99:59:59,999 --> 99:59:59,999 we are able to predict very accurately 52 99:59:59,999 --> 99:59:59,999 the success of an artist 53 99:59:59,999 --> 99:59:59,999 if you give me the first five exhibits that he or she had in her career. 54 99:59:59,999 --> 99:59:59,999 Well, as we thought about success, 55 99:59:59,999 --> 99:59:59,999 we realized that success is not only about networks. 56 99:59:59,999 --> 99:59:59,999 There are so many other dimensions to that. 57 99:59:59,999 --> 99:59:59,999 And, you know, one of the things we need for success obviously 58 99:59:59,999 --> 99:59:59,999 is performance. 59 99:59:59,999 --> 99:59:59,999 So let's define what's the difference between performance and success. 60 99:59:59,999 --> 99:59:59,999 Well, performance is what you do, 61 99:59:59,999 --> 99:59:59,999 how fast you run, what kind of paintings you paint, 62 99:59:59,999 --> 99:59:59,999 what kind of papers you publish. 63 99:59:59,999 --> 99:59:59,999 However, in our working definition, 64 99:59:59,999 --> 99:59:59,999 success is about what does the community notices from what you did, 65 99:59:59,999 --> 99:59:59,999 from your performance, 66 99:59:59,999 --> 99:59:59,999 how does it acknowledge it, and how does it reward you for it? 67 99:59:59,999 --> 99:59:59,999 In other terms, 68 99:59:59,999 --> 99:59:59,999 your performance is about you, but your success is about all of us. 69 99:59:59,999 --> 99:59:59,999 And this was a very important shift for us, 70 99:59:59,999 --> 99:59:59,999 because in the moment we defined success as being a collective measure 71 99:59:59,999 --> 99:59:59,999 that the community provides to us, 72 99:59:59,999 --> 99:59:59,999 it became measurable, 73 99:59:59,999 --> 99:59:59,999 because if it's in the community, there are multiple data points about that. 74 99:59:59,999 --> 99:59:59,999 So now we believe, and we go to school, we exercise, 75 99:59:59,999 --> 99:59:59,999 we practice because we believe that performance leads to success. 76 99:59:59,999 --> 99:59:59,999 But the way we actually started to explore, 77 99:59:59,999 --> 99:59:59,999 we realized that performance and success are very, very different animals 78 99:59:59,999 --> 99:59:59,999 when it comes to the mathematics of the problem. 79 99:59:59,999 --> 99:59:59,999 And let me illustrate that. 80 99:59:59,999 --> 99:59:59,999 So what you see here is the fastest man on Earth, Usain Bolt. 81 99:59:59,999 --> 99:59:59,999 And of course, he wins most of the competitions that he enters. 82 99:59:59,999 --> 99:59:59,999 And we know he's the fastest on Earth because we have a chronometer 83 99:59:59,999 --> 99:59:59,999 to measure his speed. 84 99:59:59,999 --> 99:59:59,999 Well, what is interesting about him is that when he wins, 85 99:59:59,999 --> 99:59:59,999 he doesn't do so by really significantly outrunning his competition. 86 99:59:59,999 --> 99:59:59,999 He's running at most a percent faster than the one who loses the race. 87 99:59:59,999 --> 99:59:59,999 And not only does he run only one percent faster than the second one, 88 99:59:59,999 --> 99:59:59,999 but he doesn't run 10 times faster than I do, 89 99:59:59,999 --> 99:59:59,999 and I'm not a good runner, trust me on that. 90 99:59:59,999 --> 99:59:59,999 (Laughter) 91 99:59:59,999 --> 99:59:59,999 And every time we are able to measure performance, 92 99:59:59,999 --> 99:59:59,999 we notice something very interesting. 93 99:59:59,999 --> 99:59:59,999 That is, performance is bounded. 94 99:59:59,999 --> 99:59:59,999 What it means is that there are no huge variations in human performance. 95 99:59:59,999 --> 99:59:59,999 It varies only in a narrow range, 96 99:59:59,999 --> 99:59:59,999 and we do need the chronometer to measure the differences. 97 99:59:59,999 --> 99:59:59,999 This is not to say that we cannot see the good from the best ones, 98 99:59:59,999 --> 99:59:59,999 but the best ones are very hard to distinguish, 99 99:59:59,999 --> 99:59:59,999 and the problem with that is that most of us work in areas 100 99:59:59,999 --> 99:59:59,999 where we do not have a chronometer to gauge our performance. 101 99:59:59,999 --> 99:59:59,999 Alright, performance is bounded, 102 99:59:59,999 --> 99:59:59,999 there are no huge differences between us when it comes to our performance. 103 99:59:59,999 --> 99:59:59,999 How about success? 104 99:59:59,999 --> 99:59:59,999 Well, let's switch to a different topic like books, right? 105 99:59:59,999 --> 99:59:59,999 One measure of success for writers is how many people read your work? 106 99:59:59,999 --> 99:59:59,999 And so when my previous book came out in 2009, 107 99:59:59,999 --> 99:59:59,999 I was in Europe talking with my editor, and I was interested, 108 99:59:59,999 --> 99:59:59,999 who is the competition? 109 99:59:59,999 --> 99:59:59,999 And I had some fabulous one. 110 99:59:59,999 --> 99:59:59,999 That week (Laughter) 111 99:59:59,999 --> 99:59:59,999 Dan Brown came out with "The Lost Symbol" 112 99:59:59,999 --> 99:59:59,999 and "The Last Song" also came out, 113 99:59:59,999 --> 99:59:59,999 Nicholas Sparks. 114 99:59:59,999 --> 99:59:59,999 And when you just look at the list, 115 99:59:59,999 --> 99:59:59,999 you realize, you know, performance-wise 116 99:59:59,999 --> 99:59:59,999 there is hardly any difference between these books or mine. 117 99:59:59,999 --> 99:59:59,999 Right? 118 99:59:59,999 --> 99:59:59,999 So maybe if Nicholas Sparks' team works a little harder, 119 99:59:59,999 --> 99:59:59,999 he could easily be number one, 120 99:59:59,999 --> 99:59:59,999 because it's almost by accident who ended up at the top. 121 99:59:59,999 --> 99:59:59,999 So I said, let's look at the numbers. I am a data person, right? 122 99:59:59,999 --> 99:59:59,999 So let's see what were the sales for Nicholas Sparks. 123 99:59:59,999 --> 99:59:59,999 And it turns out that that opening weekend, 124 99:59:59,999 --> 99:59:59,999 Nicholas Sparks sold more than a hundred thousand copies, 125 99:59:59,999 --> 99:59:59,999 which is an amazing number. 126 99:59:59,999 --> 99:59:59,999 You can actually get to the top of the New York Times Bestseller List 127 99:59:59,999 --> 99:59:59,999 by selling 10,000 copies a week, 128 99:59:59,999 --> 99:59:59,999 so he tenfold overcame what he needed to be number one. 129 99:59:59,999 --> 99:59:59,999 Yet he wasn't number one. Why? 130 99:59:59,999 --> 99:59:59,999 Because there was Dan Brown, who sold 1.2 million copies that week. 131 99:59:59,999 --> 99:59:59,999 (Laughter) 132 99:59:59,999 --> 99:59:59,999 And the reason I like this number is because it shows that really, 133 99:59:59,999 --> 99:59:59,999 when it comes to success, it's unbounded, 134 99:59:59,999 --> 99:59:59,999 that the best doesn't only get slightly more than the second best, 135 99:59:59,999 --> 99:59:59,999 but gets orders of magnitude more, 136 99:59:59,999 --> 99:59:59,999 because success is a collective measure. 137 99:59:59,999 --> 99:59:59,999 We give it to them, rather than we earn it through our performance. 138 99:59:59,999 --> 99:59:59,999 So one of things we realized is that performance, 139 99:59:59,999 --> 99:59:59,999 what we do is bounded but success, which is collective, is unbounded, 140 99:59:59,999 --> 99:59:59,999 which makes you wonder, 141 99:59:59,999 --> 99:59:59,999 how do you get these huge differences in success 142 99:59:59,999 --> 99:59:59,999 when you have so tiny differences in performance? 143 99:59:59,999 --> 99:59:59,999 And recently I published a book that I devoted to that very question, 144 99:59:59,999 --> 99:59:59,999 and they didn't give enough time to go over all of that, 145 99:59:59,999 --> 99:59:59,999 so I'm going to go back to the question of alright, 146 99:59:59,999 --> 99:59:59,999 you have success, when should that appear? 147 99:59:59,999 --> 99:59:59,999 So let's go back to the party spoiler, 148 99:59:59,999 --> 99:59:59,999 and ask ourselves, 149 99:59:59,999 --> 99:59:59,999 why did Einstein make this ridiculous statement 150 99:59:59,999 --> 99:59:59,999 that only before 30 you could actually be creative? 151 99:59:59,999 --> 99:59:59,999 Well, because he looked around himself and he saw all these fabulous physicists 152 99:59:59,999 --> 99:59:59,999 that created quantum mechanics and modern physics, 153 99:59:59,999 --> 99:59:59,999 and they were all in their 20s and early 30s when they did so. 154 99:59:59,999 --> 99:59:59,999 And it's not only him. 155 99:59:59,999 --> 99:59:59,999 It's not only observational bias, 156 99:59:59,999 --> 99:59:59,999 because there's actually a whole field of genius research 157 99:59:59,999 --> 99:59:59,999 that has documented the fact that if we look at the people 158 99:59:59,999 --> 99:59:59,999 we admire from the past 159 99:59:59,999 --> 99:59:59,999 and then we look at what age did they make their biggest contribution, 160 99:59:59,999 --> 99:59:59,999 whether that's music, whether that's science, 161 99:59:59,999 --> 99:59:59,999 whether that's engineering, 162 99:59:59,999 --> 99:59:59,999 most of them tend to do so in their 20s, 30s, early 40s at most. 163 99:59:59,999 --> 99:59:59,999 But there's a problem with this genius research. 164 99:59:59,999 --> 99:59:59,999 Well, first of all, it created the impression to us 165 99:59:59,999 --> 99:59:59,999 that creativity equals youth, 166 99:59:59,999 --> 99:59:59,999 which is painful, right? 167 99:59:59,999 --> 99:59:59,999 (Laughter) 168 99:59:59,999 --> 99:59:59,999 And it also has an observational bias, 169 99:59:59,999 --> 99:59:59,999 because it only looks at geniuses 170 99:59:59,999 --> 99:59:59,999 and doesn't look at ordinary scientists, 171 99:59:59,999 --> 99:59:59,999 and doesn't look at all of us and asking, 172 99:59:59,999 --> 99:59:59,999 is it really true that creativity vanishes as we age? 173 99:59:59,999 --> 99:59:59,999 So that's exactly what we tried to do, and this is important for that 174 99:59:59,999 --> 99:59:59,999 to actually have references. 175 99:59:59,999 --> 99:59:59,999 So let's look at an ordinary scientist like myself, 176 99:59:59,999 --> 99:59:59,999 and let's look at my career. 177 99:59:59,999 --> 99:59:59,999 So what you see here is all the papers that I published from my first paper, 178 99:59:59,999 --> 99:59:59,999 it's in 1989 that I was still in Romania when I did so, 179 99:59:59,999 --> 99:59:59,999 til kind of this year. 180 99:59:59,999 --> 99:59:59,999 And vertically you see the impact of the paper, 181 99:59:59,999 --> 99:59:59,999 that is, how many citations, 182 99:59:59,999 --> 99:59:59,999 how many other papers have been written that cited that work? 183 99:59:59,999 --> 99:59:59,999 And when you look at that, you see that my career 184 99:59:59,999 --> 99:59:59,999 has three roughly different stages. 185 99:59:59,999 --> 99:59:59,999 I had the first 10 years where I work a lot 186 99:59:59,999 --> 99:59:59,999 and I don't achieve much. 187 99:59:59,999 --> 99:59:59,999 No one seems to care about what I do, right? 188 99:59:59,999 --> 99:59:59,999 There's hardly any impact. 189 99:59:59,999 --> 99:59:59,999 That time, I was doing material science, 190 99:59:59,999 --> 99:59:59,999 and then I kind of discovered for myself networks, 191 99:59:59,999 --> 99:59:59,999 and then started publishing in network, 192 99:59:59,999 --> 99:59:59,999 and that led one high-impact paper to the other one. 193 99:59:59,999 --> 99:59:59,999 And it really felt good. That was that stage of my career. 194 99:59:59,999 --> 99:59:59,999 (Laughter) 195 99:59:59,999 --> 99:59:59,999 So the question is, what happens right now? 196 99:59:59,999 --> 99:59:59,999 And we don't know, because there hasn't been enough time passed yet 197 99:59:59,999 --> 99:59:59,999 to actually figure out how much impact those papers will get. 198 99:59:59,999 --> 99:59:59,999 It takes time to acquire. 199 99:59:59,999 --> 99:59:59,999 Well, when you look at the data, 200 99:59:59,999 --> 99:59:59,999 it seems to be that Einstein, the genius research, is right, 201 99:59:59,999 --> 99:59:59,999 and I'm at that stage of my career. 202 99:59:59,999 --> 99:59:59,999 (Laughter) 203 99:59:59,999 --> 99:59:59,999 So we said, OK, let's figure out how does this really happen 204 99:59:59,999 --> 99:59:59,999 first in science, right? 205 99:59:59,999 --> 99:59:59,999 And in order not to have the selection bias, 206 99:59:59,999 --> 99:59:59,999 to look only at geniuses, 207 99:59:59,999 --> 99:59:59,999 we ended up reconstructing the career of every single scientist 208 99:59:59,999 --> 99:59:59,999 from 1900 til today 209 99:59:59,999 --> 99:59:59,999 and finding for all scientists what was their personal best, 210 99:59:59,999 --> 99:59:59,999 whether they got the Nobel Prize or they never did, 211 99:59:59,999 --> 99:59:59,999 or no one knows what they did, even their personal best. 212 99:59:59,999 --> 99:59:59,999 And that's what you see actually in this slide. 213 99:59:59,999 --> 99:59:59,999 Each line is a career, 214 99:59:59,999 --> 99:59:59,999 and when you have a light blue dot on the top of that career, 215 99:59:59,999 --> 99:59:59,999 it says that was their personal best. 216 99:59:59,999 --> 99:59:59,999 And the question is, 217 99:59:59,999 --> 99:59:59,999 when did they actually make their biggest discovery? 218 99:59:59,999 --> 99:59:59,999 And to quantify that, we look at what's the probability 219 99:59:59,999 --> 99:59:59,999 that you make your biggest discovery let's say, one, two, three, 220 99:59:59,999 --> 99:59:59,999 or 10 years into your career? 221 99:59:59,999 --> 99:59:59,999 We're not looking at real age. 222 99:59:59,999 --> 99:59:59,999 We're looking at what we call academic age. 223 99:59:59,999 --> 99:59:59,999 Your academic age starts when you publish your first papers. 224 99:59:59,999 --> 99:59:59,999 I know some of you are still babies. 225 99:59:59,999 --> 99:59:59,999 (Laughter) 226 99:59:59,999 --> 99:59:59,999 So let's look at the probability that you publish your highest impact paper 227 99:59:59,999 --> 99:59:59,999 and what you see is indeed the genius research is right. 228 99:59:59,999 --> 99:59:59,999 Most scientists tend to publish their highest impact paper 229 99:59:59,999 --> 99:59:59,999 in the first 10, 15 years in their career, 230 99:59:59,999 --> 99:59:59,999 and it tanks after that. 231 99:59:59,999 --> 99:59:59,999 It tanks so fast that I'm about, I'm exactly 30 years into my career, 232 99:59:59,999 --> 99:59:59,999 and the chance that I will publish a paper that would have higher impact 233 99:59:59,999 --> 99:59:59,999 than anything that I did before 234 99:59:59,999 --> 99:59:59,999 is less than one percent. 235 99:59:59,999 --> 99:59:59,999 I am in that stage of my career, according to this data. 236 99:59:59,999 --> 99:59:59,999 But there's a problem with that. 237 99:59:59,999 --> 99:59:59,999 We're not doing controls properly. 238 99:59:59,999 --> 99:59:59,999 So the control would be, 239 99:59:59,999 --> 99:59:59,999 how would a scientist look like who makes random contribution to science? 240 99:59:59,999 --> 99:59:59,999 Or what is the productivity of the scientist? 241 99:59:59,999 --> 99:59:59,999 When do they write papers? 242 99:59:59,999 --> 99:59:59,999 So we measured the productivity, 243 99:59:59,999 --> 99:59:59,999 and amazingly, the productivity, 244 99:59:59,999 --> 99:59:59,999 your likelihood of writing a paper in year one, 10, or 20 in your career 245 99:59:59,999 --> 99:59:59,999 is indistinguishable from the likelihood of having the impact 246 99:59:59,999 --> 99:59:59,999 in that part of your career. 247 99:59:59,999 --> 99:59:59,999 And to make a long story short, 248 99:59:59,999 --> 99:59:59,999 after lots of statistical tests, there's only one explanation for that, 249 99:59:59,999 --> 99:59:59,999 that really the way we scientists work 250 99:59:59,999 --> 99:59:59,999 is that every single paper we write, every project we do, 251 99:59:59,999 --> 99:59:59,999 has exactly the same chance of being our personal best. 252 99:59:59,999 --> 99:59:59,999 That is, discovery is like a lottery, 253 99:59:59,999 --> 99:59:59,999 and like a lottery ticket, 254 99:59:59,999 --> 99:59:59,999 and then the more lottery tickets we buy, the higher is the chance, 255 99:59:59,999 --> 99:59:59,999 and it happens to be so that most scientists 256 99:59:59,999 --> 99:59:59,999 buy most of their lottery tickets in the first 10, 15 years of their career, 257 99:59:59,999 --> 99:59:59,999 and after that, their productivity decreases. 258 99:59:59,999 --> 99:59:59,999 They're not buying any more lottery tickets. 259 99:59:59,999 --> 99:59:59,999 So it looks as if they would not be creative. 260 99:59:59,999 --> 99:59:59,999 In reality, they stopped trying. 261 99:59:59,999 --> 99:59:59,999 So when we actually put the data together, the conclusion is very simple: 262 99:59:59,999 --> 99:59:59,999 success can come at any time. 263 99:59:59,999 --> 99:59:59,999 It could be your very first or very last paper of your career. 264 99:59:59,999 --> 99:59:59,999 It's totally random in the space of the projects. 265 99:59:59,999 --> 99:59:59,999 It is the productivity that changes. 266 99:59:59,999 --> 99:59:59,999 And let me illustrate that. 267 99:59:59,999 --> 99:59:59,999 Here is Frank Wilczek, 268 99:59:59,999 --> 99:59:59,999 who get the Nobel Prize in Physics for the very first paper 269 99:59:59,999 --> 99:59:59,999 he ever wrote in his career as a graduate student. 270 99:59:59,999 --> 99:59:59,999 More interesting is John Fenn, 271 99:59:59,999 --> 99:59:59,999 who at age 70 was forcefully retired by Yale university. 272 99:59:59,999 --> 99:59:59,999 They shut his lab down, 273 99:59:59,999 --> 99:59:59,999 and at that moment, he moved to Virginia Commonwealth University, 274 99:59:59,999 --> 99:59:59,999 opened another lab, 275 99:59:59,999 --> 99:59:59,999 and it is there at age 72 that he published a paper 276 99:59:59,999 --> 99:59:59,999 for which 15 years later he got the Nobel Prize for Chemistry. 277 99:59:59,999 --> 99:59:59,999 And you think, OK, well science is special, right? 278 99:59:59,999 --> 99:59:59,999 But what about other areas where we need to be creative? 279 99:59:59,999 --> 99:59:59,999 So let me take another typical example: entrepreneurship. 280 99:59:59,999 --> 99:59:59,999 Silicon Valley, 281 99:59:59,999 --> 99:59:59,999 the land of the youth, right? 282 99:59:59,999 --> 99:59:59,999 And indeed, when you look at it, you realize that the biggest awards, 283 99:59:59,999 --> 99:59:59,999 the TechCrunch Awards and other awards, 284 99:59:59,999 --> 99:59:59,999 are all going to people, 285 99:59:59,999 --> 99:59:59,999 an average age for them is late 20s, very early 30s. 286 99:59:59,999 --> 99:59:59,999 You look at who the VCs give the money to, some of the biggest VC firms, 287 99:59:59,999 --> 99:59:59,999 all people in their early 30s. 288 99:59:59,999 --> 99:59:59,999 Which, of course, we know: 289 99:59:59,999 --> 99:59:59,999 there is this ethos in Silicon Valley that youth equals success. 290 99:59:59,999 --> 99:59:59,999 Not when you look at the data, 291 99:59:59,999 --> 99:59:59,999 because it's not only about forming a company. 292 99:59:59,999 --> 99:59:59,999 Forming a company is like productivity: trying, trying, trying. 293 99:59:59,999 --> 99:59:59,999 When you look at which of these individuals actually put out 294 99:59:59,999 --> 99:59:59,999 a successful company, a successful exit, 295 99:59:59,999 --> 99:59:59,999 and recently some of our colleagues looked at exactly that question, 296 99:59:59,999 --> 99:59:59,999 and it turns out that yes, those in the 20s and 30s 297 99:59:59,999 --> 99:59:59,999 put out a huge number of companies, form lots of companies, 298 99:59:59,999 --> 99:59:59,999 but most of them go bust, 299 99:59:59,999 --> 99:59:59,999 and when you look at the successful exits, what you see in this particular plot, 300 99:59:59,999 --> 99:59:59,999 the older you are, the more likely that you will actually hit the stock market 301 99:59:59,999 --> 99:59:59,999 or the sell the company successfully. 302 99:59:59,999 --> 99:59:59,999 This is so strong, actually, that if you are in the 50s, 303 99:59:59,999 --> 99:59:59,999 you are twice as likely to actually have a successful exit 304 99:59:59,999 --> 99:59:59,999 than if you are in your 30s. 305 99:59:59,999 --> 99:59:59,999 (Applause) 306 99:59:59,999 --> 99:59:59,999 So at the end, what it is that see, actually? 307 99:59:59,999 --> 99:59:59,999 What we see is that creativity has no age. 308 99:59:59,999 --> 99:59:59,999 Productivity does, right? 309 99:59:59,999 --> 99:59:59,999 Which is telling me that at the end of the day, 310 99:59:59,999 --> 99:59:59,999 if you keep trying 311 99:59:59,999 --> 99:59:59,999 (Laughter) 312 99:59:59,999 --> 99:59:59,999 you could still succeed and succeed over and over, 313 99:59:59,999 --> 99:59:59,999 so my conclusion is very simple. 314 99:59:59,999 --> 99:59:59,999 I am of this age, back in my lab. 315 99:59:59,999 --> 99:59:59,999 Thank you. 316 99:59:59,999 --> 99:59:59,999 (Applause)