There are a few things I dismiss and a few I believe in thoroughly. The former include economic forecasts, which I think don't add value, and the list of the latter starts with cycles and the need to prepare for them.
What are bad recommendations you hear in your profession or area of expertise?
Question
How has a failure, or apparent failure, set you up for later success? Do you have a favourite failure?
Failure & regret
Question
In the last five years, what new belief, behaviour, or habit has most improved your life?
Daily life
I was going to say work on what you love, but that's not really it. It's so easy to convince yourself that you love what you're doing — who wants to admit that they don't? When I think about it, the happiest and most successful people I know don't just love what they do, they're obsessed with solving an important problem, something that matters to them.
MIT 147th Commencement, MIT News (Massachusetts Institute of Technology), 7 June 2013 source ↗
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Howard Marks
Co-founder and co-chairman of Oaktree Capital Management
Corazon Aquino
President of the Philippines, 1986–1992
I held out for participation in the 1984 election the dictatorship called, even if I knew it would be rigged. I was warned by the lawyers of the opposition that I ran the grave risk of legitimizing the forgone results of elections that were clearly going to be fraudulent. But I was not fighting for lawyers, but for the people in whose intelligence I had implicit faith. By the exercise of democracy, even in a dictatorship, they would be prepared for democracy when it came.
Recorded
U.S. Capitol Building, Washington, D.C., AmericanRhetoric.com, 18 September 1986
source ↗
Sonny Rollins
Jazz tenor saxophonist and composer
The life of a jazz musician is a difficult life, because you want to play, you want to be, you want to get to the inner spirit and sometimes you drink or you use drugs or you smoke a lot. You do all these things to try to get the spirit out. So it’s a difficult existence and a lot of the great people that I have known, and in history, they kind of over-indulge, and they never sort of are able to balance their musical life with their personal life. Maybe it’s not necessary to do that. That is another question, I don’t know, but I’d like to see young musicians coming up that don’t smoke and that don’t drink to excess and don’t use drugs, and don’t sort of debilitate themselves. I think that’s where we should go. I think that is what guys should be doing. I don’t think you have to drink and use drugs to play good jazz, but that’s been the model for so long that a lot of guys get caught up in that, you know.
Dan Pallotta
Founder of Pallotta TeamWorks; founder of the Charity Defense Council
This is what happens when we confuse morality with frugality. We've all been taught that the bake sale with five percent overhead is morally superior to the professional fundraising enterprise with 40 percent overhead, but we're missing the most important piece of information, which is: What is the actual size of these pies? Who cares if the bake sale only has five percent overhead if it's tiny?
More from Drew Houston
View profile →No one has a 5.0 in real life. In fact, when you finish school, the whole notion of a GPA just goes away. When you're in school, every little mistake is a permanent crack in your windshield. But in the real world, if you're not swerving around and hitting the guard rails every now and then, you're not going fast enough. Your biggest risk isn't failing, it's getting too comfortable.
Recorded
MIT 147th Commencement, MIT News (Massachusetts Institute of Technology), 7 June 2013
source ↗
That night, I realized there are no warmups, no practice rounds, no reset buttons. Every day we're writing a few more words of a story. And when you die, it's not like “here lies Drew, he came in 174th place.” So from then on, I stopped trying to make my life perfect, and instead tried to make it interesting. I wanted my story to be an adventure — and that's made all the difference.
Recorded
MIT 147th Commencement, MIT News (Massachusetts Institute of Technology), 7 June 2013
source ↗
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