Tuesday, March 23, 2010
Laxmi Mittal on TATAS
WHY RATAN TATA IS NOT ON THE LIST
>
> Here is a Real Story of Ratan Tata.
>
>
> So many people around the world want to know, "What is
> the Net Worth of Ratan Tata"?
>
> TATA Group is running 96 businesses and out of which 28
> Companies are publicly listed on various stock exchanges.
> Tata Group is world's top 50 Group according to Market
> capitalization and Reputation.
>
>
> Have you ever thought why Ratan Tata's name is not in
> the list of billionaire's club? Why Ratan Tata is not a
> billionaire on the Forbes magazine list of billionaire
> people of the world?
>
> The reason is that, TATA Group's 96 companies are held
> by its main Company "TATA Sons" and the main owner
> of this TATA Sons is not Ratan Tata but various charitable
> organizations developed and run by TATA Group. Out of
> which JRD TATA Trust & Sir Ratan Tata Trust are the
> main. 65% ownership of TATA Sons which is the key holding
> company of the other 96 TATA Group Companies is held by
> various charitable organizations.
>
>
> So this 65% ownership ownership of Tatasons Limited is not
> reflected on Ratan Tata's personal Financial
> Statement but on the various charitable organizations. And
> this is the reason why Ratan Tata is not in the list
> of Billionaire club.
>
>
> If we put this 65% ownership of Tata Sons in Ratan
> TATA's own personal financial statement then Ratan
> Tata's Net worth can become more than $70 billion.
>
> And that's much more than the Warren Buffet's
> Current Net Worth of $62 billion, the world's richest
> person according to Forbes magazine 2008.
>
>
> However, it doesn't mean that Ratan Tata is poor.
>
> In one interviews he had told the reporter that, "I
> have my own Capital".
>
> He is the chairman of Tata Group so obviously he earns lots
> of money every year as a bonus, remuneration and salary.
>
>
> However, Ratan Tata's Net worth is not $1 Billion.
>
> He is not a billionaire on paper. but in reality he is the
> richest person of the world.
>
> His net worth in reality is more than Bill Gates and
> Warren Buffet.
>
>
> SO the good thing about Tata Group is that, They do Charity
> out of their Money ...
>
> And that is the reason TATA Group has generated so much of
> Goodwill over last 5 generations.
Wednesday, March 10, 2010
Thought provoking speech by Azim Premji At the 37th Annual Convocation 2002, IIM, Ahmedabad
the 37th Annual Convocation 2002, IIM, Ahmedabad
While change and uncertainty have always been a part of life, what has been shocking over the last year has been both the quantum and suddenness of change.
For many people who were cruising along on placid waters, the wind was knocked out of their sails. The entire logic of doing business was turned on its head. Not only business, but also every aspect of human life has been impacted by the change. What lies ahead is even more dynamic and uncertain. I would like to use this opportunity to share with you some of our own guiding principles of staying afloat in a changing world. This is based on our experience in Wipro. I hope you find them useful.
First, be alert for the first signs of change. Change descends on everyone equally; it is just that some realize it faster. Some changes are Sudden but many others are gradual. While sudden changes get attention because they are dramatic, it is the gradual changes that are ignored till it is too late. You must have all heard of story of the frog in boiling water. If the temperature of the water is suddenly increased, the frog realizes it and jumps out of the water. But if the temperature is very slowly increased, one degree at a time, the frog does not realize it till it boils to death. You must develop your own early warning system, which warns you of changes and calls your attention to it. In the case of change, being forewarned is being forearmed.
Second, anticipate change even when things are going right. Most people wait for something to go wrong before they think of change. It is like going to the doctor for a check up only when you are seriously sick or thinking of maintaining your vehicle only when it breaks down. The biggest enemy of future success is past success. When you succeed, you feel that you must be doing something right for it to happen. But when the parameters for success change, doing the same things may or may not continue to lead to success. Guard against complacency all the time. Complacency makes you blind to the early signals from the environment that something is going wrong.
Third, always look at the opportunities that change represents. Managing change has a lot to go with our own attitude towards it. It is Proverbial half-full or half empty glass approach. For every problem that change represents, there is an opportunity lurking in disguise somewhere. It is up to you to spot it before someone else does
Fourth, do no allow routines to become chains. For many of us the routine we have got accustomed to obstructs change. Routines represent our own zones of comfort. There is a sense of predictability about them. They have structured our time and even our thought in a certain way. While routines are useful, do not let them enslave you. Deliberately break out of them from time to time
Fifth, realize that fear of the unknown is natural. With change comes a feeling of insecurity. Many people believe that brave people are not afflicted by this malady. The truth is different. Every one feels the fear of unknown. Courage is not the absence of fear but the ability to manage fear without getting paralyzed. Feel the fear, but move on regardless.
Sixth, keep renewing yourself. This prepares you to anticipate change and be ready for it when it comes. Constantly ask yourself what new skills and competencies will be needed. Begin working on them before it becomes necessary and you will have a natural advantage. The greatest benefit of your education lies not only in what you have learnt, but in working how to learn. Formal education is the beginning of the journey of learning. Yet I do meet youngsters who feel that they have already learnt all there is to learn. You have to constantly learn about people and how to interact effectively with them. In the world of tomorrow, only those individuals and organizations will succeed who have mastered the art of rapid and on-going learning.
Seventh, surround yourself with people who are open to change. If you are always in the company of cynics, you will soon find yourself becoming like them. A cynic knows all the reasons why something cannot be done. Instead, spend time with people who have a "can-do" approach. Choose your advisors and mentors correctly. Pessimism is contagious, but then so is enthusiasm. In fact, reasonable optimism can be an amazing force multiplier.
Eighth, play to win. I have said this many times in the past. Playing to win is not the same as cutting corners. When you play to win, you Stretch yourself to your maximum and use all your potential. It also helps you to concentrate your energy on what you can influence instead of getting bogged down with the worry of what you cannot change. Do your best and leave the rest.
Ninth, respect yourself. The world will reward you on your successes. Success requires no explanation and failure permits none. But you need to respect yourself enough so that your self-confidence remains intact whether you succeed or fail. If you succeed 90 per cent of the time, you are doing fine. If you are succeeding all the time, you should ask yourself if you are taking enough risks. If you do not take enough risks, you may also be losing out on many opportunities. Think through but take the plunge. If some things do go wrong, learn from them. I came across this interesting story some time ago:
One day a farmer's donkey fell down into a well. The animal cried piteously for hours as the farmer tried to figure out what to do. Finally he decided the animal was old and the well needed to be covered up anyway it just wasn't worth it to retrieve the donkey. He invited all his neighbors to come over and help him. They all grabbed a shovel and begin to shovel dirt into the well. At first, the donkey realized what was happening and cried horribly. Then, to everyone's amazement he quieted down. A few shovel loads later, the farmer finally looked down the well and was astonished at! what he saw. With every shovel of dirt that fell on his back, the donkey was doing some thing amazing. He would shake it off and take a step up. As the farmer's neighbors continued to shovel dirt on top of the animal, he would shake it off and take a step up. Pretty soon, everyone was amazed as the donkey stepped up over the edge of the well and totted off! Life is going to shovel dirt on you, all kinds of dirt. The trick is too not to get bogged down by it. We can get out of the deepest wells by not stopping. And by never giving up! Shake it off and take a step up!
Tenth, in spite of all the change around you, decide upon what you will never change: your core values. Take you time to decide what they are but once you do, do not compromise on them for any reason. Integrity is one such value. These have contributed to our success, including our parents and others from our society. All of us have a responsibility to utilize our potential for making our nation a better place for others, who may not be as well endowed as us, or as fortunate in having the opportunities that we have got. Let us do our bit, because doing one good deed can have multiple benefits not only for us but also for many others. Let me end my talk with a small story I came across some time back, which illustrates this very well.
This is a story of a poor Scottish farmer whose name was Fleming. One day, while trying to make a living for his family, he heard a cry for help coming from a nearby bog. He dropped his tools and ran to the bog. There, mired to his waist in black muck, was a terrified boy, screaming and struggling to free himself. Farmer Fleming saved the boy from what could have been a slow and terrifying death. The next day, a fancy carriage pulled up to the Scotsman's sparse surroundings. An elegantly dressed nobleman stepped out and introduced himself as the father of the boy Farmer Fleming had saved. "I want to repay you, "said the nobleman. " Yes," the farmer replied proudly. "I'll make you a deal. Let me take your son and give him a good education. If he's anything like his father, he'll grow to be a man you can be proud of." And that he did. In time, Farmer Fleming's son graduated from St. Mary's Hospital Medical School in London, and went on to become known throughout the world as the noted Sir Alexander Fleming, the discoverer of Penicillin. Years afterward, the nobleman's son was stricken with pneumonia. What saved him? Penicillin. This is not the end. The nobleman's son also made a great contribution to society. For the nobleman was none other than Lord Randolph Churchill, and his son's name was Winston Churchill. Let us use all our talent, competence and energy for creating peace and happiness for the nation."
Making of INFOSYS - Courage, Blessing and Gratitude
Making of INFOSYS - Courage, Blessing and Gratitude
Sudha Murty* was livid when a job advertisement posted by a Tata company at the institution where she was completing her post graduation stated that 'lady candidates need not apply'. She dashed off a 'postcard' to JRD, protesting against the discrimination. It was the beginning of an association that would change her life in more ways that one
There are two photographs that hang on my office wall. Every day when I enter my office I look at them before starting my day. They are pictures of two old people. One is of a gentleman in a blue suit and the other is a black-and-white image of a man with dreamy eyes and a white beard.
People have asked me if the people in the photographs are related to me. Some have even asked me, "Is this black-and-white photo that of a Sufi saint or a religious guru?" I smile and reply "No, nor are they related to me. These people made an impact on my life. I am grateful to them." "Who are they?" "The man in the blue suit is Bharat Ratna JRD Tata and the black-and-white photo is of Jamsetji Tata." "But why do you have them in your office?" "You can call it gratitude."
Then, invariably, I have to tell the person the following story.
It was a long time ago. I was young and bright, bold and idealistic. I was in the final year of my master's course in computer science at the Indian Institute of Science [IISc] in
It was probably the April of 1974.
One day, while on the way to my hostel from our lecture-hall complex, I saw an advertisement on the notice board. It was a standard job-requirement notice from the famous automobile company Telco [now Tata Motors]. It stated that the company required young, bright engineers, hardworking and with an excellent academic background, etc.
At the bottom was a small line: "Lady candidates need not apply." I read it and was very upset. For the first time in my life I was up against gender discrimination.
Though I was not keen on taking up a job, I saw this as a challenge. I had done extremely well in academics, better than most of my male peers. Little did I know then that in real life academic excellence is not enough to be successful.
After reading the notice I went fuming to my room. I decided to inform the topmost person in Telco's management about the injustice the company was perpetrating. I got a postcard and started to write, but there was a problem: I did not know who headed Telco. I thought it must be one of the Tatas. I knew JRD Tata was the head of the Tata Group; I had seen his pictures in newspapers (actually, Sumant Moolgaokar was the company's chairman then).
I took the card, addressed it to JRD and started writing. To this day I remember clearly what I wrote. "The great Tatas have always been pioneers. They are the people who started the basic infrastructure industries in
I posted the letter and forgot about it. Less than 10 days later, I received a telegram stating that I had to appear for an interview at Telco's Pune facility at the company's expense.
I was taken aback by the telegram. My hostel mates told me I should use the opportunity to go to Pune free of cost — and buy them the famous Pune saris for cheap! I collected Rs 30 each from everyone who wanted a sari. When I look back, I feel like laughing at the reasons for my going, but back then they seemed good enough to make the trip.
It was my first visit to Pune and I immediately fell in love with the city. To this day it remains dear to me. I feel as much at home in Pune as I do in Hubli, my hometown. The place changed my life in so many ways.
As directed, I went to Telco's Pimpri office for the interview. There were six people on the panel and I realised then that this was serious business. "This is the girl who wrote to JRD," I heard somebody whisper as soon as I entered the room. By then I knew for sure that I would not get the job. That realisation abolished all fears from my mind, so I was rather cool while the interview was being conducted.
Even before the interview started, I reckoned the panel was biased, so I told them, rather impolitely, "I hope this is only a technical interview." They were taken aback by my rudeness, and even today I am ashamed about my attitude.
The panel asked me technical questions and I answered all of them. Then an elderly gentleman with an affectionate voice told me, "Do you know why we said lady candidates need not apply? The reason is that we have never employed any ladies on the shop floor. This is not a co-ed college; this is a factory. When it comes to academics, you are a first ranker throughout. We appreciate that, but people like you should work in research laboratories."
I was a young girl from small-town Hubli. My world had been a limited place. I did not know the ways of large corporate houses and their difficulties, so I answered, "But you must start somewhere, otherwise no woman will ever be able to work in your factories."
Finally, after a long interview, I was told I had been successful. So this was what the future had in store for me. Never had I thought I would take up a job in Pune. That city changed my life in many ways. I met a shy young man from Karnataka there, we became good friends and we got married.
It was only after joining Telco that I realised who JRD was: the uncrowned king of Indian industry. Now I was scared, but I did not get to meet him till I was transferred to
I was feeling very nervous, remembering my postcard episode. SM introduced me nicely, "Jeh (that's what his close associates called him), this young woman is an engineer and that too a postgraduate. She is the first woman to work on the Telco shop floor." JRD looked at me. I was praying he would not ask me any questions about my interview (or the postcard that preceded it). Thankfully, he didn't. Instead he remarked. "It is nice that girls are getting into engineering in our country. By the way, what is your name?" "When I joined Telco I was Sudha Kulkarni, Sir," I replied. "Now I am Sudha Murty." He smiled that kindly smile and started a discussion with SM. As for me, I almost ran out of the room.
After that I used to see JRD on and off. He was the Tata Group chairman and I was merely an engineer. There was nothing that we had in common. I was in awe of him.
One day I was waiting for Murthy, my husband, to pick me up after office hours. To my surprise I saw JRD standing next to me. I did not know how to react. Yet again I started worrying about that postcard. Looking back, I realise JRD had forgotten about it. It must have been a small incident for him, but not so for me.
"Young lady, why are you here?" he asked. "Office time is over." I said, "Sir, I'm waiting for my husband to come and pick me up." JRD said, "It is getting dark and there's no one in the corridor. I'll wait with you till your husband comes." I was quite used to waiting for Murthy, but having JRD waiting alongside made me extremely uncomfortable.
I was nervous. Out of the corner of my eye I looked at him. He wore a simple white pant and shirt. He was old, yet his face was glowing. There wasn't any air of superiority about him. I was thinking, "Look at this person. He is a chairman, a well-respected man in our country and he is waiting for the sake of an ordinary employee."
Then I saw Murthy and I rushed out. JRD called and said, "Young lady, tell your husband never to make his wife wait again."
In 1982 I had to resign from my job at Telco. I was reluctant to go, but I really did not have a choice. I was coming down the steps of Bombay House after wrapping up my final settlement when I saw JRD coming up. He was absorbed in thought. I wanted to say goodbye to him so I stopped. He saw me and paused.
Gently, he said, "So what are you doing, Mrs Kulkarni? (That was the way he always addressed me.) "Sir, I am leaving Telco." "Where are you going?" he asked. "Pune, sir. My husband is starting a company called Infosys and I'm shifting to Pune." "Oh! And what you will do when you are successful?" "Sir, I don't know whether we will be successful." "Never start with diffidence," he advised me. "Always start with confidence. When you are successful you must give back to society. Society gives us so much; we must reciprocate. I wish you all the best."
Then JRD continued walking up the stairs. I stood there for what seemed like a millennium. That was the last time I saw him alive.
Many years later I met Ratan Tata in the same
I consider JRD a great man because, despite being an extremely busy person, he valued one postcard written by a young girl seeking justice. He must have received thousands of letters every day. He could have thrown mine away, but he didn't do that. He respected the intentions of that unknown girl, who had neither influence nor money, and gave her an opportunity in his company. He did not merely give her a job; he changed her life and mindset forever.
Close to 50 per cent of the students in today's engineering colleges are girls. And there are women on the shop floor in many industry segments. I see these changes and I think of JRD. If at all time stops and asks me what I want from life, I would say I wish JRD were alive today to see how the company we started has grown. He would have enjoyed it wholeheartedly.
My love and respect for the House of Tatas remains undiminished by the passage of time. I always looked up to JRD. I saw him as a role model - for his simplicity, his generosity, his kindness and the care he took of his employees. Those blue eyes always reminded me of the sky; they had the same vastness and munificence.
Sunday, February 28, 2010
Bill Gates - The 11 Rules in Life
In Bill Gates' new book (Business @ The Speed of Thought), he lays out 11 rules that students do not learn in high school or college, but should.
He argues that our feel-good, politically-correct teachings have created a generation of kids with no concept of reality who are set up for failure in the real world.
• RULE 1 - Life is not fair; get used to it.
• RULE 2 - The world won't care about your self-esteem. The world will expect you to accomplish something BEFORE you feel good about yourself.
• RULE 3 - You will NOT make 40 thousand dollars a year right out of high school. You won't be a vice president with a car phone, until you earn both.
• RULE 4 - If you think your teacher is tough, wait till you get a boss. He doesn't have tenure.
• RULE 5 - Flipping burgers is not beneath your dignity. Your grandparents had a different word for burger flipping, they called it opportunity.
• RULE 6 - If you mess up, it's not your parents' fault, So don't whine about your mistakes, learn from them.
• RULE 7 - Before you were born, your parents weren't as boring as they are now. They got that way from paying your bills, cleaning your clothes and listening to you talk about how cool you are. So before you save the rain forest from the parasites of your parents' generation, try "delousing" the clothes in your own room.
• RULE 8 - Your school may have done away with winners and losers, but life has not. In some schools they have abolished failing grades; they will ask as many times as you want to get the right answer. This doesn't bear the slightest resemblance to ANYTHING in real life.
• RULE 9 - Life is not divided into semesters. You don't get summers off and very few employers are interested in helping you find yourself. Do that on your own time.
• RULE 10 -Television is NOT real life! In real life people actually have to leave the coffee shop and go to jobs.
• RULE 11 - Be nice to nerds. Chances are you'll end up working for one.
Steve Jobs --lessons
trying to do better.” - Steve Jobs
His accomplishments and character helped define a generation and change the
world. He is co-founder of the fairytale company we now know as Apple
Computers. And he is the visionary of the personal computers world that led the
entire computer hardware and software industry to restructure itself.
This man with boundless energy and charisma is also a master of hype, hyperbole
and the catchy phrase. And even when he’s trying to talk normally, brilliant
verbiage comes tumbling out.
Here’s a selection of some of the most insanely great things he said, golden
lessons to help you succeed in life, Jobs-style:
1. Steve Jobs said: “Innovation distinguishes between a leader and a
follower.”
Innovation has no limits. The only limit is your imagination. It’s time for
you to begin thinking out of the box. If you are involved in a growing
industry, think of ways to become more efficient; more customer friendly;
and easier to do business with. If you are involved in a shrinking industry – get out of it
quick and change before you become obsolete; out of work; or out of business. And
remember that procrastination is not an option here. Start innovating now!
2. Steve Jobs said: “Be a yardstick of quality. Some people aren’t used to an environment
where excellence is expected.”
There is no shortcut to excellence. You will have to make the commitment to make
excellence your priority. Use your talents, abilities, and skills in the best way possible and
get ahead of others by giving that little extra. Live by a higher standard and pay attention to
the details that really do make the difference. Excellence is not difficult - simply decide
right now to give it your best shot - and you will be amazed with what life gives you back.
3. Steve Jobs said: “The only way to do great work is to love what you do. If you haven’t
found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when
you find it.”
I’ve got it down to four words: “Do what you love.” Seek out an occupation that gives you
a sense of meaning, direction and satisfaction in life. Having a sense of purpose and
striving towards goals gives life meaning, direction and satisfaction. It not only contributes
to health and longevity, but also makes you feel better in difficult times. Do you jump out
of bed on Monday mornings and look forward to the work week? If the answer is ‘no’ keep
looking, you’ll know when you find it.
4. Steve Jobs said: “You know, we don’t grow most of the food we eat. We wear clothes
other people make. We speak a language that other people developed. We use a
mathematics that other people evolved… I mean, we’re constantly taking things. It’s a
wonderful, ecstatic feeling to create something that puts it back in the pool of human
experience and knowledge.”
Live in a way that is ethically responsible. Try to make a difference in this world and
contribute to the higher good. You’ll find it gives more meaning to your life and it’s a great
antidote to boredom. There is always so much to be done. And talk to others about what
you are doing. Don’t preach or be self-righteous, or fanatical about it, that just puts people
off, but at the same time, don’t be shy about setting an example, and use opportunities that
arise to let others know what you are doing.
5. Steve Jobs said: “There’s a phrase in Buddhism, ‘Beginner’s mind.’ It’s wonderful to
have a beginner’s mind.”
It is the kind of mind that can see things as they are, which step by step and in a flash can
realize the original nature of everything. Beginner’s mind is Zen practice in action. It is the
mind that is innocent of preconceptions and expectations, judgements and prejudices. Think
of beginner’s mind as the mind that faces life like a small child, full of curiosity and
wonder and amazement.
6. Steve Jobs said: “We think basically you watch television to turn your brain off, and
you work on your computer when you want to turn your brain on.”
Reams of academic studies over the decades have amply confirmed television’s pernicious
mental and moral influences. And most TV watchers know that their habit is mind-numbing
and wasteful, but still spend most of their time in front of that box. So turn your TV off and
save some brain cells. But be cautious, you can turn your brain off by using a computer
also. Try and have an intelligent conversation with someone who plays first person shooters
for 8 hours a day. Or auto race games, or role-playing games.
7. Steve Jobs said: “I’m the only person I know that’s lost a quarter of a billion dollars in
one year…. It’s very character-building.”
Don’t equate making mistakes with being a mistake. There is no such thing as a successful
person who has not failed or made mistakes, there are successful people who made
mistakes and changed their lives or performance in response to them, and so got it right the
next time. They viewed mistakes as warnings rather than signs of hopeless inadequacy.
Never making a mistake means never living life to the full.
8. Steve Jobs said: “I would trade all of my technology for an afternoon with Socrates.”
Over the last decade, numerous books featuring lessons from historical figures have
appeared on the shelves of bookstores around the world. And Socrates stands with
Leonardo da Vinci, Nicholas Copernicus, Charles Darwin and Albert Einstein as a beacon
of inspiration for independent thinkers. But he came first. Cicero said of Socrates that, “He
called philosophy down from the skies and into the lives of men.” So use Socrates’
principles in your life, your work, your learning, and your relationships. It’s not about
Socrates, it’s really about you, and how you can bring more truth, beauty and goodness into
your life everyday.
9. Steve Jobs said: “We’re here to put a dent in the universe. Otherwise why else even be
here?”
Did you know that you have big things to accomplish in life? And did you know that those
big things are getting rather dusty while you pour yourself another cup of coffee, and
decide to mull things over rather than do them? We were all born with a gift to give in life,
one which informs all of our desires, interests, passions and curiosities. This gift is, in fact,
our purpose. And you don’t need permission to decide your own purpose. No boss, teacher,
parent, priest or other authority can decide this for you. Just find that unique purpose.
10. Steve Jobs said: “Your time is limited, so don’t waste it living someone else’s life.
Don’t be trapped by dogma - which is living with the results of other people’s thinking.
Don’t let the noise of other’s opinions drown out your own inner voice. And most important,
have the courage to follow your heart and intuition. They somehow already know what you
truly want to become. Everything else is secondary.”
Are you tired of living someone else’s dream? No doubt, its your life and you have every
right to spend it in your own individual way without any hurdles or barriers from others.
Give yourself a chance to nurture your creative qualities in a fear-free and pressure-free
climate. Live a life that YOU choose and be your own boss.
=-=-=
Saturday, February 20, 2010
'You've got to find what you love,' Jobs says in STANFORD ADDRESS
'You've got to find what you love,' Jobs says
This is the text of the Commencement address by Steve Jobs, CEO of Apple Computer and of Pixar Animation Studios, delivered on June 12, 2005.
I am honored to be with you today at your commencement from one of the finest universities in the world. I never graduated from college. Truth be told, this is the closest I've ever gotten to a college graduation. Today I want to tell you three stories from my life. That's it. No big deal. Just three stories.
The first story is about connecting the dots.
I dropped out of
It started before I was born. My biological mother was a young, unwed college graduate student, and she decided to put me up for adoption. She felt very strongly that I should be adopted by college graduates, so everything was all set for me to be adopted at birth by a lawyer and his wife. Except that when I popped out they decided at the last minute that they really wanted a girl. So my parents, who were on a waiting list, got a call in the middle of the night asking: "We have an unexpected baby boy; do you want him?" They said: "Of course." My biological mother later found out that my mother had never graduated from college and that my father had never graduated from high school. She refused to sign the final adoption papers. She only relented a few months later when my parents promised that I would someday go to college.
And 17 years later I did go to college. But I naively chose a college that was almost as expensive as Stanford, and all of my working-class parents' savings were being spent on my college tuition. After six months, I couldn't see the value in it. I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out. And here I was spending all of the money my parents had saved their entire life. So I decided to drop out and trust that it would all work out OK. It was pretty scary at the time, but looking back it was one of the best decisions I ever made. The minute I dropped out I could stop taking the required classes that didn't interest me, and begin dropping in on the ones that looked interesting.
It wasn't all romantic. I didn't have a dorm room, so I slept on the floor in friends' rooms, I returned coke bottles for the 5¢ deposits to buy food with, and I would walk the 7 miles across town every Sunday night to get one good meal a week at the Hare Krishna temple. I loved it. And much of what I stumbled into by following my curiosity and intuition turned out to be priceless later on. Let me give you one example:
None of this had even a hope of any practical application in my life. But ten years later, when we were designing the first Macintosh computer, it all came back to me. And we designed it all into the Mac. It was the first computer with beautiful typography. If I had never dropped in on that single course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts. And since Windows just copied the Mac, its likely that no personal computer would have them. If I had never dropped out, I would have never dropped in on this calligraphy class, and personal computers might not have the wonderful typography that they do. Of course it was impossible to connect the dots looking forward when I was in college. But it was very, very clear looking backwards ten years later.
Again, you can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.
My second story is about love and loss.
I was lucky — I found what I loved to do early in life. Woz and I started Apple in my parents garage when I was 20. We worked hard, and in 10 years Apple had grown from just the two of us in a garage into a $2 billion company with over 4000 employees. We had just released our finest creation — the Macintosh — a year earlier, and I had just turned 30. And then I got fired. How can you get fired from a company you started? Well, as Apple grew we hired someone who I thought was very talented to run the company with me, and for the first year or so things went well. But then our visions of the future began to diverge and eventually we had a falling out. When we did, our Board of Directors sided with him. So at 30 I was out. And very publicly out. What had been the focus of my entire adult life was gone, and it was devastating.
I really didn't know what to do for a few months. I felt that I had let the previous generation of entrepreneurs down - that I had dropped the baton as it was being passed to me. I met with David Packard and Bob Noyce and tried to apologize for screwing up so badly. I was a very public failure, and I even thought about running away from the valley. But something slowly began to dawn on me — I still loved what I did. The turn of events at Apple had not changed that one bit. I had been rejected, but I was still in love. And so I decided to start over.
I didn't see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.
During the next five years, I started a company named NeXT, another company named Pixar, and fell in love with an amazing woman who would become my wife. Pixar went on to create the worlds first computer animated feature film, Toy Story, and is now the most successful animation studio in the world. In a remarkable turn of events, Apple bought NeXT, I returned to Apple, and the technology we developed at NeXT is at the heart of Apple's current renaissance. And Laurene and I have a wonderful family together.
I'm pretty sure none of this would have happened if I hadn't been fired from Apple. It was awful tasting medicine, but I guess the patient needed it. Sometimes life hits you in the head with a brick. Don't lose faith. I'm convinced that the only thing that kept me going was that I loved what I did. You've got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don't settle.
My third story is about death.
When I was 17, I read a quote that went something like: "If you live each day as if it was your last, someday you'll most certainly be right." It made an impression on me, and since then, for the past 33 years, I have looked in the mirror every morning and asked myself: "If today were the last day of my life, would I want to do what I am about to do today?" And whenever the answer has been "No" for too many days in a row, I know I need to change something.
Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure - these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.
About a year ago I was diagnosed with cancer. I had a scan at 7:30 in the morning, and it clearly showed a tumor on my pancreas. I didn't even know what a pancreas was. The doctors told me this was almost certainly a type of cancer that is incurable, and that I should expect to live no longer than three to six months. My doctor advised me to go home and get my affairs in order, which is doctor's code for prepare to die. It means to try to tell your kids everything you thought you'd have the next 10 years to tell them in just a few months. It means to make sure everything is buttoned up so that it will be as easy as possible for your family. It means to say your goodbyes.
I lived with that diagnosis all day. Later that evening I had a biopsy, where they stuck an endoscope down my throat, through my stomach and into my intestines, put a needle into my pancreas and got a few cells from the tumor. I was sedated, but my wife, who was there, told me that when they viewed the cells under a microscope the doctors started crying because it turned out to be a very rare form of pancreatic cancer that is curable with surgery. I had the surgery and I'm fine now.
This was the closest I've been to facing death, and I hope its the closest I get for a few more decades. Having lived through it, I can now say this to you with a bit more certainty than when death was a useful but purely intellectual concept:
No one wants to die. Even people who want to go to heaven don't want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the single best invention of Life. It is Life's change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true.
Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma — which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.
When I was young, there was an amazing publication called The Whole Earth Catalog, which was one of the bibles of my generation. It was created by a fellow named Stewart Brand not far from here in
Stewart and his team put out several issues of The Whole Earth Catalog, and then when it had run its course, they put out a final issue. It was the mid-1970s, and I was your age. On the back cover of their final issue was a photograph of an early morning country road, the kind you might find yourself hitchhiking on if you were so adventurous. Beneath it were the words: "Stay Hungry. Stay Foolish." It was their farewell message as they signed off. Stay Hungry. Stay Foolish. And I have always wished that for myself. And now, as you graduate to begin anew, I wish that for you.
Stay Hungry. Stay Foolish.