Decision Making - Wisdom from Treasury Secretary Robert Rubin

Source:  Treasury Secretary Robert E. Rubin Remarks to the University of Pennsylvania Commencement Philadelphia, PA

https://www.treasury.gov/press-center/press-releases/Pages/rr3152.aspx

"As I think back over the years, I have been guided by four principles for decision making.

First, the only certainty is that there is no certainty.

Second, every decision, as a consequence, is a matter of weighing probabilities.

If there are no absolutes then all decisions become matters of judging the probability of different outcomes, and the costs and benefits of each. Then, on that basis, you can make a good decision. 

A healthy respect for uncertainty, and focus on probability, drives you never to be satisfied with your conclusions. It keeps you moving forward to seek out more information, to question conventional thinking and to continually refine your judgments. And understanding that difference between certainty and likelihood can make all the difference. It might even save your job.

Third, being decisive in the face of uncertainty.

In the end, all decisions are based on imperfect or incomplete information. But decisions must be made -- and on a timely basis -- whether in school, on the trading floor, or in the White House.

Fourth, and finally, judging decisions.

Decisions tend to be judged solely on the results they produce. But I believe the right test should focus heavily on the quality of the decision making itself."

Jeff Bezos (Amazon founder)'s Princeton University graduation commencement speech, "What matters more than your talent". Quite inspiring.

"It's harder to be kind than clever.

Cleverness is a gift. Kindness is a choice. Gifts are easy. They are given after all. Choices can be hard.

How will you use your gifts? What choices will you make?
Will inertia be your guide, or will you follow your passions?
Will you follow dogma, or will you be original?
Will you choose a life of ease, or a life of service and adventure?
Will you wilt under criticism, or will you follow your convictions?
Will you bluff it out when you're wrong, or will you apologize?
Will you guard your heart against rejection, or will you act when you fall in love?
Will you play it safe, or will you be a little bit swashbuckling?
When it's tough, will you give up, or will you be relentless?
Will you be a cynic, or will you be a builder?
Will you be clever at the expense of others, or will you be kind?"

Be inspired!

p.s. If you know Amazon :-), you can probably skip the introduction and start at the 6:28 mark.

The Pareto Principle

See the Wiki Link The Pareto Principle for further details.

"The Pareto principle (also known as the 80–20 rule, the law of the vital few, and the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes.[1][2]

Business-management consultant Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who observed in 1906 that 80% of the land in Italy was owned by 20% of the population; he developed the principle by observing that 20% of the pea pods in his garden contained 80% of the peas.[2]

It is a common rule of thumb in business; e.g., "80% of your sales come from 20% of your clients". Mathematically, where something is shared among a sufficiently large set of participants, there must be a number k between 50 and 100 such that "k% is taken by (100 − k)% of the participants". The number k may vary from 50 (in the case of equal distribution, i.e. 100% of the population have equal shares) to nearly 100 (when a tiny number of participants account for almost all of the resource). There is nothing special about the number 80% mathematically, but many real systems have k somewhere around this region of intermediate imbalance in distribution.[3]

The Pareto principle is only tangentially related to Pareto efficiency, which was also introduced by the same economist. Pareto developed both concepts in the context of the distribution of income and wealth among the population."

Food for Thoughts - Business Books

Here is a recommendation by Dave Kerpen, 9 Business Books That Will Change Your Life (click).

The short list is:

1) What Color is Your Parachute? A Practical Manual for Job-Hunters and Career Seekers by Richard Bolles

2) Permission Marketing: Turning Strangers Into Friends & Friends Into Customers by Seth Godin

3) The Tipping Point: How Little Things Can Make a Big Difference by Malcolm Gladwell

4) Good to Great: Why Some Companies Make the Leap - and Others Don't by Jim Collins

5) Mastering the Rockefeller Habits: What You Must Do to Increase The Value of Your Growing Firm by Verne Harnish

6) The E-Myth: Why Most Small Businesses Don't Work, and What to Do About It by Michael Gerber

7) Built to Sell: Creating a Business That Can Thrive Without You by John Warrilow

8) Rework by Jason Fried and David Heinemeier Hansson

9) The Three Big Questions for a Frantic Family: A Leadership Fable About Restoring Sanity to The Most Important Organization in Your Life by Patrick Lencioni

I haven't read any of the above and can't validate the claims of the author. Will look into it and hope one of them will hit the spot and change my business life, for good.

Feel It

The following is a note I sent to a mentee of mine a few weeks ago. She has educational background in broadcasting and obviously her career is geared towards the creative side of her.

"Last night, as I was flipping through TV and getting a mental shutdown, I happened upon a program called "What Not to Wear" on TLC.

Long story short, this episode is about the makeover of a brainy 23-year old, who is applying for a PhD degree in physics, while still dressed like a teenager, with a big Pi, her favorite number on her T-shirt. As the fashion gurus kept putting forward new ideas, every time without failing, her analytical brain kicked in and her thought process went, "well, the color... the style.... the cut...how not me....."

Finally, the designers said, "Don't think too much. Feel it."

I think this applies to you too. You are in a different field. There is no magic potion, silver bullet, the E = mc2 to be discovered. As I mentioned, the creative thinking requires the leap of faith. "Don't think too much. Feel it." For that, I think another post in my blog may be helpful: Steve Jobs Standford Commencement speech. Jobs shared his life lessons, including connecting the dots.

I can use an analogy. It's very much like dating. You can rationalize it, match.com it, but at the end of the day, you just need to go for it, trust your hunch, be ready to fail and start again, keep at it, till you find your prince charming."

This relates to the previous post of Paralysis by Analysis. It separates entrepreneurs from ordinary work-bees.

Entrepreneurs:

- have a vision or a great idea
- turn it into actions
- are not afraid to make decisions
- are willing to fail
- are not taking "impossible" as an answer
- are looking for a solution instead of backing away from a problem

Go get them!

Paralysis By Analysis

"There was little room for fear and doubt in what he did. There should be caution and a keen eye to detail, but fear and doubt could incapacitate. He could stand up here all night thinking up excuses not to proceed. Stan Hurley, the tough SOB who had trained him, had warned him about the pitfalls of paralysis by analysis." - Mitch Rapp in "Kill Shot" by Vince Flynn.

"Paralysis by analysis." I like that.

How so to life in general! We often think too much and get incapacitated by all the baggages and what-ifs.

Get rid of the clutters, lighten up, keep it simple and ....

"Just do it!" - Nike

Four Management Lessons

A bit salty, but get a laugh for things that are obvious.

Lesson No.1

A crow was sitting on a tree, doing nothing all day.A small rabbit saw the crow, and asked him, "Can I also sit like you and do nothing all day long?"

The crow answered: " Sure, why not."

So, the rabbit sat on the ground below the crow, and rested. All of a sudden, a fox appeared, jumped on the rabbit and ate it.

Management Lesson: To be sitting and doing nothing, you must be sitting very, very high up.

Lesson No.2

A turkey was chatting with a bull. "I would love to be able to get to the top of that tree," sighed the turkey, "but I haven't got the energy." "Well, why don't you nibble on some of my droppings?" replied the bull. "They're packed with nutrients." The turkey pecked at a lump of dung and found that it actually gave him enough strength to reach the first branch of the tree.The next day, after eating some more dung, he reached the second branch. Finally after a fortnight, there he was proudly perched at the top of the tree.

Soon he was promptly spotted by a farmer, who shot the turkey out of the tree.

Management Lesson: Bullshit might get you to the top, but it won't keep you there.

Lesson No.3

When the body was first made, all the parts wanted to be Boss. The brain said, "I should be Boss because I control the whole body's responses and functions." The feet said, " We should be Boss as we carry the brain about and get him to where he wants to go." The hands said, "We should be the Boss because we do all the work and earn all the money." And so it went on and on with the heart, the lungs and the eyes until finally the asshole spoke up. All the parts laughed at the idea of the asshole being the Boss. So the asshole went on strike, blocked itself up and refused to work. Within a short time the eyes became crossed, the hands clenched, the feet twitched, the heart and lungs began to panic and the brain fevered.Eventually they all decided that the asshole should be the Boss.

Management Lesson: You don't need brains to be a Boss - any asshole will do.

Lesson No.4

A little bird was flying south for the winter. It was so cold, the bird froze and fell to the ground in a large field. While it was lying there, a cow came by and dropped some dung on it. As the frozen bird lay there in the pile of cow dung,it began to realize how warm it was. The dung was actually thawing him out! He lay there all warm and happy, and soon began to sing for joy. A passing cat heard the bird singing and came to investigate. Following the sound, the cat discovered the bird under the pile of cow dung, and promptly dug him out and ate him!

Management Lesson:

1) Not everyone who drops shit on you is your enemy.

2) Not everyone who gets you out of shit is your friend.

3) And when you're in deep shit, keep your mouth shut!

Journeymen, Random Thoughts from "Life of Pi"

I started reading "Life of Pi" and came across the following. I guess in my post ("Swim Like Pi, Metuchen Y - Dec 24, 2012"), I was not that far off in my interpretation of what Ang Lee was trying to visually represent in the movie.

It was about Mamaji (respectful uncle in Hindi) teaching Pi swimming:

"Swimming instruction, which in time became swimming practice, was grueling, but there was the deep pleasure of doing a stroke with increasing ease and speed, over and over, till hypnosis practically, the water turning from molten lead to liquid light."

Ang Lee is indeed a master. He precisely staged and delivered the image from the original novel.

Masterful!

Well, in my previous post, I was begging for the question, "if it is so effortless, as if you could go on forever like you said, then why only the meager 1,750m as a new record?"

Here is the thing. The record is really the means to an end. It's the way to keep me going. It's not used comparatively to others but rather to my oldself.

In the final analysis, it's not really a matter of how fast you go, neither it is how much you go in one sitting. What's the most important is how often and how far you keep going.

I guess for that matter, life is a journey and we are all journeymen. There is always a new goal, a new record, a new height, or a new.... including new

...pods and pads for you to work hard on.

Next stop $2000m.

Swim Like Pi, Metuchen Y - Dec 24, 2012

New personal swimming record of 70 laps = ~1750m.

I had one takeaway from "Life of Pi" - the smooth swimming, in water so crystal clear, seemingly weightless, obviously effortlessly.

I experienced such a moment when swimming today... as if I could have continued forever, like
Pi=3.14159265358979323846264338327950288419716939937510 5820974944592307816406286208998628034825342117067982148086513282 3066470938446095505822317253594081284811174502841027019385211055 5964462294895493038196442881097566593344612847564823378678316527 1201909145648566923460348610454326648213393607260249141273724587 0066063155881748815209209628292540917153643678925903600113305305 4882046652138414695194151160943305727036575959195309218611738193 2611793105118548074462379962749567351885752724891227938183011949 129833673362440656643086021394946395224737190....;

- doggedly pursuing a goal
- never lose hope
- try or die trying.

I digressed.

Swimming, if well controlled, should be a relatively effortless endeavor relative to walking, running or other forms of exercise.

- In the water, you are in an almost weightless environment, you don't have the burden of carrying your own weight.

- The water resistance, of course. That's what the swimming style is for - an optimal combination of position, posture, stroke, etc..

Today with my breast stroke, I seemed to get that touch of effortlessness, trying but not trying, with well controlled breathing pattern. The physical exertion is really not that significant relative to the distance of the swimming.

Instead of a tedious physical exercise, I felt various moments of wonder - of the body gliding through the water.

Now it's time to adjust my free style.

"Swim like Pi."

A Nation in Mourning

A Remembrance

It's as if an old wound never heals but this time it cut to the heart. It got very close and personal as if the enemy is within and around the corner.

How could that happen? People are trying to reconcile an irrational situation.

What happened to our society? People are looking for a deeper cause.

Gun control! That must be THE answer. People are finding a cure.

However, when we are facing someone who is willing to take his own life, no gun control of any kind can stop him. It may check the flows of new guns into the society but how do you deal with 200 million private-owned firearms currently in circulation? When someone is on a mission, he will find access. Gun control is a deterrent but not a cure.

When our 24/7 news cycle intensified the campaign of and increased the publicity of random killings, this is not the kind of journalism that helps a nation heal but rather feeding on the fear and anger of people and satisfying the media's insatiable hunger for sensationalism and an edge over the other networks.

Killers are watching. Crazies are listening. They found the nation's old wound and raw nerves. They will exploit it. They will copycat. That's their way of getting back to a society that, they think, has abandoned them. They have nothing to lose. They are willing to die.

As we are mourning the loss of lives, feeling for the deep pains of the families who lost their dear children, and singing the heroism of the brave guardians, let's take a step back and look at the big picture.

- 911
- Syrian
- Earthquake
- Tsunami
- Holocaust
- World Wars

No innocent deaths are tolerable. No heartless killings are justifiable. Don't want to sound defeatism. Unfortunately, it happened, it is happening, and it will happen again.

So what should we do?

As we are steeling ourselves to look to the future, we need to constantly remind ourselves how fortunate we are who we are and where we are. Our own worries and concerns become trivia and inconveniences in a larger context.

- Hold your loved one tighter.

- Be kind to people around you.

- Lend a helping hand when you can.

- Be more tolerable. Don't feel crossed of YOUR parking slot taken or if someone cut in front of you in the traffic.

- Be thankful of little moments life has to offer.

Live to the fullest!

Random Musings

- went to the mall yesterday. 3pm, parking lot packed. 5:30pm, still packed.

- a relatively large display of sub $200 North Face winter jackets (same price range even for the teenager sizes). Impressive foot traffic.

Prosperity is back. (not sure if it's an "exclamation mark" or a "question mark." I will leave it neutral as a "period" for now.)

- E-Z pass makes life easy but it makes rate increases easy too. A random check of the statement a few weeks ago revealed that a $2.15 charge used-to-be (don't know how long ago) is now over $6. Thought a second, sort of making sense (not economically but for the sake of clerical processing errors), since the standard fare of Garden State Parkway is now $1.50 instead of an easy quarter and a dime.

- my parents came over the weekend. My dad told me that the charge for the luggage cart is now, guess how much, a whopping $5 at JFK.

When the ATM is now dishing out $20s and $50s instead of $10s and $20s, you can tell that inflation is not just lurking around the corner. It's here.

So, low interest rate, easy credit, creeping inflation, persisting high unemployment, those are signs of time. I admire the unsuppressible optimism of our people, but the big question remains, "have we learned from our mistakes that led to the credit crisis?" The pains seemed fading fast in the rear-view mirror and into distant memory.

IS the prosperity truly back?

p.s. Btw, the Christmas gift giving and exchange has become a custom that I found increasingly hard to understand:

- when all things equalized and cancelled out, you end up buying a bunch of stuff for yourself.

- it's not an efficient way of buying either. You are paying someone to guess and get what you really want. Go figure how that will go! The long return line, maybe.

Not being cynical, holiday is a happy time. I am all for spending more than a few hard earned bucks to have some well deserved fun. But keeping boxes of gifts in storage is not one of those grand ideas.

On that note, here is my view of a bargain:

No matter how much of a discount it is, if it's something that you don't really need, a dollar spent is a dollar wasted. It's not a bargain except for the rush or the excitement of the bargain hunting process.

One last word of wisdom, on dealing with the clutter at home, I had this idea for a long while: that is, for everything you get new, you have to get rid of something old. A new pair of pants for an old one ... the list goes on. Pretty straightforward idea but never had the discipline to enforce.

Now, in the weekend's Chinese speech contest, my friend's view, "exposed" by his son's speech, reinforced my idea. A true bargain is:

"Buy one and get rid of one free."

Then you know you are really get what you need and your money has been wisely spent.

Have a happy holiday season!

Note: Originally posted to Facebook on Dec 3, 2012, with some minor touch-ups.

About Boss

My golden rule is: be friendly but never be friend with your boss. Thinking like a friend obscures your judgment and sends all the wrong signals.

A classic example is, facing criticism, instead of thinking constructively, you would react, "I thought we are friends. I worked so hard for you. How could you ...".

You got it all wrong, my friends.

If you don't want to learn it the hard way, trust me on this one. Let the work take care of the friendship part, which will come in the after life, I mean when you both move on. You may one day get a call, "what are you busy these days. I think I have a perfect job for you."

The beauty is: it's up to you to decide whether you want to take him / her up on the offer.

My bosses*, you aren't reading this, ARE you?

*My wife and kids, the only people I absolutely have to answer to.

Note: Originally posted to Facebook on Aug 16, 2012, prompted by a WSJ article, "When the Boss is a Screamer" from the previous day.

As a teaser, here is "Shut up, listen and learn", when the boss is ready for a "heart to heart". Btw, I love Kevin Spacey.

"Traders Guns & Money", Satyajit Das

- Knowns and Unknowns in the Dazzling World of Derivatives

Picked up the book while on call in London a few years ago. Read the book half-way through as an in-flight gap filler. Plain speaking, nothing earth shattering but well written. Always wanted to finish it and now maybe is the time.

Here is a quote. I don't think it's original but so long as it is in one place, I am happy. About trades have one-sided share of the profit and loss, i.e. tail I win and face I walk:"...It is the ultimate in capitalism - the privatization of gains, the socialization of losses."

The following offers you a taste or flavor of the book. About the similarities between Manchester United and Cazenove (an English private I-Bank), both in play for a buy-out:

"1. In both cases, the employees creamed off the lion's share of earnings. Players v. Bankers.

2. Both groups of employees argued vociferously about their value to the firm, their short careers and, the risk of injury.

3. They were always threatening to join a competitor and had first call over profits. Shareholders were there to underwrite the losses.

Conclusion: Manchester United would be the better choice. As an owner you would at least get to see the football games. In neither case would you ever see the money." Haha, that's awesome!

The following reminded me why I liked the book a lot, making a dry subject fun to read.

Regarding a risk management conference called, "Risk Management: The New Paradigm": "as a general rule, it is unwise to read or attend anything with the word 'paradigm' in its title."

With reference to U.S. military's DEFCON 1-5 alerts and applying bank risk management:

DEFCON 5: Go to lunch. The noon bells have tolled 'All is well'.

DEFCON 4: Business as usual. Normal indolence and lack of care continues.

DEFCON 3: The smell test tells you that there is a problem. You ask a few questions, being careful not to be told anything that you may regret in hindsight when seeking to avoid culpability.

DEFCON 2: You leann that your traders have lost an unspecified amount of money from the various journalists who ring you for comment. You thank them for letting you know what is really going on.

DEFCON 1: The bank is bankrupt. You're fired. You join the speaker circuit, sharing your experiences with other risk luminaries such as Nick Leeson."

Note: originally posted to Facebook on Sep 3, 2012.

"Three Idiots"

I don't recall who recommended the movie to me, but I do remember vividly when I watched the movie - last Christmas to New Year week, vacationing with the family in Disney World. Being a morning person, I enjoyed my quiet hours in the am. I finished the whole feature movie in one go. What a gem!

Am I digressing again?

Well, it's about college life in the Indian Institutes of Technology. East meets West. A jest against the academic programs of Indian and China alike - a life I can relate back in the old days - of course not as dramatic.

It doesn't hurt that the movie is just hilarious. For the sake of a good laugh, give it a shot.

Though the moral of the story (movie) is that there is more to college life than GPAs (something I am sure you echo), it does suggest the kind of competition our next generations here (meaning you and beyond) are facing.

As you may have or are yet to experience, the Indian colleagues I have been working with, especially folks based in Asia (India, Singapore, etc.), are all first-class, not just in terms of competency, but manner, professionalism and a sense of humor. Cheers, mates!

Full Feature

Theme Song - Gangnam Style

About Politics

Allow me to digress a bit. Politics, unless you choose being a public servant as a career, may not seem directly relevant to this project or forum. However, I'd like to share a few thoughts on the subject since I think it's very much part of the social frabric of our society and could, in one way or other, define who you are or make you a more matured citizen.

The following is what I posted on Facebook just now, morning after the election.

"As a matter of principle, I don't comment on politics on FB for the following reasons:

1. It's the single most divisive fault line of this great nation. Red v. Blue, You v. Me. The election heatmap indeed shows the divided states of America.

2. From my observations, people get very emotional when they talk about politics. This is great because people care. However, on the flip side, taken to the exteme, with emotions not checked, such discussions quickly become very personal, judgmental and irrational.

3. As average citizens, we are more than entitled to our own study and analysis of the challenging issues facing the country and voice our positions through our rights and action to vote. However, when our "public" discourses, on a forum like this, are reduced to sound bytes, sliced facts, rhetorical rants and worse yet, disrespectful personal attacks, I decided that I refuse to participate.

Nevertheless, this doesn't mean that I am cynical and doubtful of our political process. I firmly believe that individually we may make a decision incorrectly and even collectively we could make the wrong calls from time to time, however, in the long run, together, we will steer the course of this nation to a bright future... if we stay united.

And hence what I like about the message of President Obama's 2012 victory speech with the following excerpts:

"I have always believed that hope is that stubborn thing inside us that insists, despite all the evidence to the contrary, that something better awaits us so long as we have the courage to keep reaching, to keep working, to keep fighting.

I believe we can seize this future together because we are not as divided as our politics suggests. We're not as cynical as the pundits believe. We are greater than the sum of our individual ambitions, and we remain more than a collection of red states and blue states. We are and forever will be the United States of America."

March on...."


Here is Transcript, video of President Barack Obama's 2012 election night victory speech in Chicago (Click Me)

About Networking - Getting Personal

Just to share a bit about my own experience.

Back when I was still a full-time employee, I pigeon-holed myself in my own little world, happy and content of my career and what was to come up. Obviously I had my ups and downs, triumphant moments and set-backs, but in general, I was very much a company man. Through trials and tribulations, I finally got made, in the Wall Street jargon - I made it to the front office and became part of a structured transaction team.

Then the credit crisis hit and the layoff was a wake-up call, probably the best that could have happened to my career. With myself over 40 and a family of three young kids, I had to do a lot of hard thinking. Not necessarily worried about finding a job immediately but my main concern was: what if it happens to me again when I am 50.

One major takeaway from that period is the value of networking, and the very reason that I decided to stay on consulting instead of taking it as a mere transition. Among others, consulting provides a great opportunity for me to meet with interesting and talented people and expand my network significantly.

In hindsight, I was institutionalized (borrowing a concept from "Shawshank Redemption"). The world has moved on and I was too afraid to venture out of my comfort zone due to my family obligation, the perceived risks and the list goes on.

Here is the official definition of "institutionalized":


However, I am not saying that you should quit your current full-time job and venture into the wild wild west. I still fully believe the boot-camp of an institution, through which you will be properly trained for the right tools, social / political skills, rational self-assessment and value-set, before you are ready on your own. For that, please refer to a previous post - Career Advice (click me).

So how do you network?

Here are a few excerpts from "Never Eat Alone" that I hope you find interesting. It's never too late to start networking but it's always too late when you need it the most. Refer to "Why NEA?" (click me)

Thanks for linking-in with me. That's a good start. Bottom line is: my network is yours to lose.

Note: Originally sent as an email (with some modifications) to someone I tried to network with and then shared with my young friends on July 26, 2012. The bits about "institutionalized" are today's additions.

Social Media

For the uninitiated, the attached article (click me) was not just some random gossiping.

1. Bob Diamond is or was the CEO of Barclay. You more or less heard the Libor related fiasco or scandal that hit the headlines these days.

2. Nell works at Deutsche Bank as an associate on the trading floor. One of my colleagues, being male curious, saw her on the trading desk the previous Friday, noted her name and checked her out on the group directory. Which was quite innocent until the news broke out. Quite a déjà vu, surreal and funny.

Anyway, there is no privacy this day and age. Or privacy, as we all know, is being redefined.

"Improvise, Adapt, Overcome." (U.S. Marine Corps unofficial mantra)

Embrace it. Shying away is not an option. You will find yourself shutting down rich ways of communication and falling behind your competitors.

However, you do need to understand that there are always two sides to a position. Social media, great as it is, is a double-edged sword. Practice it and be proficient at it.

Note: shared with my young friends on July 11, 2012.

Known v. Unknown

Keep the life in suspense. Keep it interesting. Keep it full of discoveries.

Move down the "known" ladder:

- the "known known": something is gonna happen; you age as the time ticks.

- the "known unknown": you know something is gonna happen, but not sure what. Like you are pretty sure you are going to miss something when you are packing for your trip but just don't know what.

- the "unknown known": you know something is happening but not sure when. Like you will somehow break your coffee mug but had you known when...

- the "unknown unknown": that's what makes life full of challenges, colorful, and never a dull moment.

Note: First appeared as a Facebook post - a spontaneous comment on a photo, where transparent tents are hanging up in the trees around sundown - quite an interesting concept, hence the introductory comment of "keep the life in suspense." I shared with my young friends on July 10, 2012.

The Last Lecture

Be inspired.

"On September 18, 2007, computer science professor Randy Pausch stepped in front of an audience of 400 people at Carnegie Mellon University to deliver a last lecture called “Really Achieving Your Childhood Dreams.” With slides of his CT scans beaming out to the audience, Randy told his audience about the cancer that is devouring his pancreas and that will claim his life in a matter of months. On the stage that day, Randy was youthful, energetic, handsome, often cheerfully, darkly funny. He seemed invincible. But this was a brief moment, as he himself acknowledged.

Randy’s lecture has become a phenomenon, as has the book he wrote based on the same principles, celebrating the dreams we all strive to make realities. Sadly, Randy lost his battle to pancreatic cancer on July 25th, 2008, but his legacy will continue to inspire us all, for generations to come."

About Randy Pausch:

Randy Pausch was a professor of Computer Science, Human Computer Interaction, and Design at Carnegie Mellon University. From 1988 to 1997, he taught at the University of Virginia. He was an award-winning teacher and researcher, and worked with Adobe, Google, Electronic Arts (EA), and Walt Disney Imagineering, and pioneered the non-profit Alice project. (Alice is an innovative 3-D environment that teaches programming to young people via storytelling and interactive game-playing.) He also co-founded The Entertainment Technology Center at Carnegie Mellon with Don Marinelli. (ETC is the premier professional graduate program for interactive entertainment as it is applies across a variety of fields.) Randy lost his battle with pancreatic cancer on July 25th, 2008. More (click me)



Note: Originally appeared in my email to my young friends on May 13, 2012. When I first saw the clip, it was still a gripping story. Randy Pausch has since moved on but his legacy stays forever.

Be Shameless and Steal From Me

You may well have read or listened to this. But it doesn't hurt to refresh your memory once in a while. Steve Job's Stanford Commencement Speech (click me)



Keep your passion kindled, as this will keep you going for a long time to come.

Then you need a North Star to point you to your true north as you navigate your water, troubled or not.

I will be your North Star. A shameless proposition on my part. :)

To steal a page from Jobs again:

"The Apple raid on Xerox PARC is sometimes described as one of the biggest heists in the chronicles of industry. Jobs occasionally endorsed this view, with pride. As he once said, “Picasso had a saying—‘good artists copy, great artists steal’—and we have always been shameless about stealing great ideas.”" - Jobs' biography

Be shameless and steal from me.

Note: The above originally appeared in an email I sent to my young friends on April 28, 2012.