Steve Jobs' speech @ Stanford 2005

- Quote from Standford -

Link: http://news.stanford.edu/news/2005/june15/jobs-061505.html

'You've got to find what you love,' Jobs says

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 Reed College after the first 6 months, but then stayed around as a drop-in for another 18 months or so before I really quit. So why did I drop out?

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:

Reed College at that time offered perhaps the best calligraphy instruction in the country. Throughout the campus every poster, every label on every drawer, was beautifully hand calligraphed. Because I had dropped out and didn't have to take the normal classes, I decided to take a calligraphy class to learn how to do this. I learned about serif and san serif typefaces, about varying the amount of space between different letter combinations, about what makes great typography great. It was beautiful, historical, artistically subtle in a way that science can't capture, and I found it fascinating.

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, it's 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 it's 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 Menlo Park, and he brought it to life with his poetic touch. This was in the late 1960's, before personal computers and desktop publishing, so it was all made with typewriters, scissors, and polaroid cameras. It was sort of like Google in paperback form, 35 years before Google came along: it was idealistic, and overflowing with neat tools and great notions.

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.

Thank you all very much.

- End of Quote -

People are impressed esp right after listening/ reading this speech, however, how many of us will remember the message tomorrow, the day after tomorrow, the day after the day after tomorrow, or every day?
I hope at least when I start to forget the message, I can always refer it back to here.

Finished attending - Internal talk by Peter

It was an astonishing and inspiring talk.

The two most insightful concepts that I got was not what he kept emphasis on boosting sales in non-funding product.

Rather it is about his view on RMB internationalization while answering a floor question on how he views BxC being the settlement bank of RMB.  First, he believes that China's back may not be able to internationalize RMB as they lack ability to adapt to other local culture or just simply do business for the chinese in other local countries. While as an international bank, we have the ability to internationalize RMB. Besides, the more internationalize RMB is, the bigger the piece of cake will be resulting a larger portion of the cake we will obtain and also he didn't believe at that moment there will still be one settlement bank.

His views on this business was astonishing, not simply because of how he view the RMB business, but rather his thinking methodology and ability to handle competition. He finds our niche and competitive advantage rather than simply complaining why we aren't the settlement bank for RMB. Apart from this, he finds opportunities rather than simply seeing competition. By expanding the business opportunities, we need not focus on internal competition as we all gain profit from expanding rather than eating up competitors' profit.

This is how a leader shall think and how we shall learn from if we have the ambition to be in his position one day.

The second point he mentioned is the lack of patience of the young generation. He stated that the "elder people" shall understand the young generation of lacking patience, which they wont have the patience to wait for several years to get promoted from band 9 to say 5. While his advice to the youngsters are to be patient.

Yes, this is so true. A lot of high-fliers within the company left just because they cant wait for one or two years to get promoted as manager from MT or AM. They immediately go to another position with a higher ranking in title, and better department name say regional xxx or some traditional profit making business teams. However, two points to question are: is the person ready to be manager or get promoted. You may find it the same paste as others who get quickly promoted, yet if your foundation is not strong enough, this my hinder your future development, resulting a longer duration as manager or a low rank as your promotion celling. Besides, a traditionally good business line or function, does it implies a continous growth or expansion on that business, or whether it is already a saturated business? As a young man, we should be visionary. To be able to see further, but at the same time having patience to complete stuff that occurs in front of us. It is never contradicting, and both can co-exist. Prepare yourself and at the same time learn to complete the tasks in front of you, and move forward step by step.

Finished watching - X-men First Class

X-men has always been a very good movie, not only does it has good animations to distinguish normal human beings and those genetically difference, but more importantly, X-men always stress the conflicts between genetically difference and normal people.

In X-men First Class, it clearly emphasis that Charles (Professor X) believes that human being and genetically different people could co-exist with respect and peace, which may be just a matter of time, while Erik (Magneto) believes that normal people will try all their means to kill, destroy or put genetically different people under control (this does reflect in the last episode of X-men)

The question that immediately pop up in my mind is, why people always try every means to eliminate those that are different from them or put these different spices under well control? However, we never see animals having such kind of behaviour. They attack only to survive because they are either being attacked or they are hunting for food, yet in normal circumstances, they can always co-exists and not to mention controlling other spices

Such special behaviour of human beings, to eliminate or to control these "outliners" may highly due to the traditional way of surviving methodology of human being. They killed those threaten them if they couldn't put other animals under control, or just kept the animals inside the zoo cage.  A very typical example is human will normally try to killed spiders and insects when they see them, while your pet say dog will simply play with them.

Besides, unlike animals, we well defined our property right and privacy. We built house for ourselves and also rooms for our own. Yet animal live together with the same spices while never define a room for themselves.

Actually even in today's society, despite we cant prove if genetically different people will have special power, yet it is undeniably that we humans try to eliminate those who are unlike or deviate from the norm. We never except something difference. And humans are taught to try whatever means to cope with the norm and converge to the norm since young/ kindergarten. Superactive or quiet people has to use whatever medical threapy to help them to adapt to norm. However, why cant the norm appreciate what they born to be and their true beauty? Does anyone think of the problem does not lie with the so called abnormal beings but the ability to accept outliners by the norm? Why shall people taught to be alike and towards the norm, is it simply because of easy management of the society, or some high-ended people who actually deviate from the norm hopes to fool the norm and earn as much as they can from them, or is it because human beings lack the ability to accept things that are difference?

Even during small group conversation, if one states out an idea or opinion or having some kind of behaviour that is different from the norm, people try to discriminate them as weird, yet does that mean wrong and can we conclude the norm is correct.

As a rational human being, we need to distinguish right and wrong rather than norm or deviate from norm. We act when we believe it is correct even we are the minority and outliner, cos only outliners stand the chance to win and beat the norm. Never act according to norm without thinking or just hoping to be recognized as one of them (the norm). One should be proud of who they really are rather than how "normal" they are

"「八十後」致富之路"之我感

每一代(上一代)總是喜歡以上一代的視野、人生智慧來評論下一代

如於香港九七時，五十及六十年代的人總喜歡評論七十年代的人經不起考驗，因為他們未經歷戰亂、錯節
今日上一代(包括七十年代的)即談及「八十後」什麼也批評，不腳踏實地等等

但又有幾多人真的從客觀條件分析由來？

曹仁超於此文章客觀地簡明為何「八十後」會有此行為(主要原因是因為香港經濟已不再如戰後、八十年代至九十年代經濟發達，引致發達機會不多)

作為八十後，或許你會說八十後非常不幸，買樓、結婚、生兒育女，不再時容易的事

但大家又有否想過，我們學習機會，不論是knowledge 、國際視野、多元發展 (如游水、音樂等)，都比上一代多。Internet的發明，令我們比上一代容易廣寬視野、information及knowledge

為何這一代，不能跳出上一代所為成功的圈子(有車、有樓、兒女入讀名校等等...)

我認為，八十後可悲的一群，絕非買不到樓、進升或發達機會少

而是失去自我...
今日沒錢買樓，可以租樓，之後再買樓
未能發達或發達機會少，不代表今日繼續努力、他日不能發達

今天還未找到長達目標，還可以現在一步一步腳踏實地工作/讀書/進修，然後繼續尋找自己的目標

但時沒有自我，連自己想怎樣也不知道，關心如否也感受不到，什至以為吃得好、穿得好，就是享受、就是關心，其實連自己一點也不開心也不知道

這是最可悲。活著就如行屍走肉

今日八十後沒有的不是錢、樓、夢想，而是卻多人都沒有自我
更可怕的是，他們以為有自己的想發或感受，但其實全都是他人、朋友、大眾的想法

今日internet的發達，無可否認為人類尋求知識、資料等來得容易。(本人連自己大學時代的畢業論文，也可以從互聯網上找到)

可是，互聯網的發明也帶來不少毒害。

之前提及，八十後變得沒有自我，什至以為自己有，但其實通通也是自己無意識地把別人的感受、想發當作自己...因而社會思想比以前變得單一
Facebook 是其中一個最大的元兇。

看到朋友吃喝玩樂、去旅行的相片，就會覺得這就是人生、這就是享受。可能這真的是某些人想要的人生，但真的是你想要的？真的沒有無意識地被影響了？

看到朋友短短一句"status - what's in your mind" ，就不理會他的由來，立即"LIKE"。慢慢地，你開始什麼都不求原因，什麼都LIKE。

開始朋友的意見、所思所想，都慢慢變成自己

結果社會思想變得單一化，再不能百花齊放

對人生觀、價值觀等，都變得一致。如享受人生，就等同吃喝玩樂及旅行，而再不存在其他可能

八十後，現在才是二十多歲，正時最無restriction、最勇敢、最有創意並如現實最接軌、最可以接受挑戰及面對失敗的時後

因而我們應該把握這可一不可再的機會，吸收真正有用的資訊，而非facebook的留言或他人的micro event。更應多思多想，尋根究底，培養分析及獨立思慧

八十後，不要隨波而行

Sudden thoughts

During my study on some foundamental statistic, finance and risk related issue, I randomly pick up the book that I am currently reading "A mathematician plays the market" and start reading a page taking about "confirmation bias".  It stated that people tends to search for information that supports their own belief and neglect those that are against them.  I believe there may be some minorities who may unintentionally search for info that are against them while ignoring those that favours them. Anyway still, the info that these people grasp are definitely bias.  Even there are wiser people who tend to read info with different standpoint, yet I believe due to the structure of human brains, they tend to have better memory on info that are favour their view.  That means the info is skewed either to the right or left if they are being classified upon favourness to ones thought.
The only way to minimize "confirmation bias" on the selected piece of info, it is important for us to organize the info and its implications to us via a scientific way.  Maths and statistic are one of the less non bias mean to help us to do so, despite it may have its only limitation.

Current watching - Thor

Thor movie - secret/ extra ending
Don't leave and stay tune

Current watching - Hanna

It talks about a girl who is genetic changed before her birth, which she is made to be better in controlling her emotion,  not to be fear, not to feel pity and muscular...

This makes me think that actually huge difference could be made in decision making if one can slightly control their emotion, fear and sense of pity better.

Btw, having a short discussion on the first chapter of my current reading "the mathematician plays the market" with someone, I start to realize the beauty of being trained with mathematuc mindsets, esp mindset of pure mathematics.  This is really a huge difference in seeing and previewing the world and incidents around u or even making a logical decision.  start to appreciate the real beauty of maths.

Current listening - 誰願放手

曾某年某一天某地　時間如靜止的空氣

你的不羈給我驚喜　曾說同你闖天與地

曾說無悔今生等你　也不擔心分隔千里

多少歡樂常回味　天空中充滿希冀

祈求再遇上　不放棄不逃避

今天失落才明白　默默道理

越是懷念你　越怕沒法一起

誰得到過願放手　曾精彩過願挽留

年年月月逝去越是覺得深愛你

如果失約在這生　毋需相見在某年

完完全全共醉一生也願意

(完完全全共醉他生也願意)

來這年這一天這地　重見曾似相識的你

笑得輕鬆中帶傷悲　談你談我的新趣味

無法忘記當天的美　你的關心不過演戲

Current Reading - A Mathematician plays the Market

Chapter 1 - Anticipating other Anticipations

This chapter illustrate how one has to anticipate other investors' anticipate the common knowledge or even anticipations of other investors' view/ anticipations in the stock market via various examples.

I would say it's more on behaviour investment, which is always uneasy to anticipate.

Various conclusions of the examples illustrated in this chapter only ride on an assumptions that all participants are rational beings while they anticipates how other acts towards others anticipations on other investors or response towards a mutual and common knowledge.

Unfortunately, in the real stock market, not all investors are rational.. they believe they were, but they may be fooled by the market information and environment, which they may result in acting irrationally.

Besides, not all information are publicized. When common knowledge is announced, there exists a institutional investor (i.e. I-banks and Fund house) who already see these information as mutual or common knowledge among themselves. While these institutional investors are the majority investors of the stock market, hence when these "common knowledge" are publicized to all investors, actually not only the stock prices have reflected this information, but also institutional investors already anticipates the response of the minority of small investors. To a certain extend, it's a tool to fool the minority individual investors so that institutional investors could either put the stocks to them at a very high price, or buy the stocks at a very low price from them.

To conclude, I believe there is no way for individual investors to beat the institutional investors or to easily anticipated their behaviour/ anticipations due to asymmetrical information/ "common knowledge". The only way an individual investor could gain from the stock market is to think like an institutional investor by anticipating how they anticipates the economy, the stock/ company to be invested, the reaction of other minority investors, and their next action towards any possible variables. Only by thinking or anticipating like an institutional investor and acting like one of them, so can an individual investor make a slim profit from the stock market.

To be continued...

Completed Reading - 二十幾歲就定位

"二十幾歲就定位"

"拿回自己對人生的主控權，而非一直受人左右使自己的未來搖擺不定。"

"為自己的人生負責"
"自己的事情要由自己做決定"
"相信自己能力和自己選擇的自信心理"
"你的一生，除了自己，誰也不能為你負責"
"有責任感，敢作敢當、勇往直前"

This is some of the quotes from the book.

It's highly recommended to those who are in their 20s, who just get out from university or start their career for several years and who are still struggling for their goal, life and mission.

In the 90s and early 00s, people who born in the 50s or 60s commented that those who born in the 70s are not tough enough as they grow in era that are free from war and start their career in the blossoms of the 90s, which they never experienced the hardships that most of the 50s/ 60s have faced.

Nowadays, people criticised the post 80s of being naive, unrealistic, idealism etc... and most importantly they didn't know what they are really looking for...
Money? Early retirement?  Materialistic?  Dream?
Most of the post 80s are still searching for what they're really hunting for...
as they are born in the era of "lost"...

Most of the post 80s are lost, hence they are looking for money so that they could buy stuff like thought they like (i.e. Iphones, Gucci etc), going for trips, eating nice and delicious food, and hoping for an early retirement life, which are actually trends created or led by the minorities who can earn a profit from all these....
Who really know what they want?  I believe only the minorities of the post 80s have some clues to it.  Some decide to work in the performing art industry, while some insists to pursue the dream of being a musician, artist or scientist... for those who success, are usually those who know what they really want and fight towards their goal...

Post 80s are raised by being spoon feed since young.  They are taught to study and revise for examination in order to promote to high school and university.  Only those who can survive in this system could earn the chance of getting a higher education, which most of us believe these people will gain a higher chance of success in their future career or at least earn more than the norm.
Unfortunately, most of them who perform well in the public examination are unable to find their own personal goal apart from the desire to achieve as much A-grade as possible in their examination in order to move forward.

As a result, upon graduation from university, what they know is to continue working in the professional field that is equivalent to their uni curriculum i.e Doctor, Lawyer, Auditor, Engineer etc, without realizing if that is exactly what they want to be.  All they know is they could generate stable high income from their professionals.  Another option is to join the civil servant to serve the community despite these youngsters deeply complained about their bureaucratic, irresponsible and useless government.  What they know is the stable high income given by the government that covers their eyes.  Apart from these two options, the remaining ones seek for investment banking or fund related jobs.  What they all know is the huge bonus given by these institutions, while neglecting the damages/ harm that were created by these financial institutions i.e the Financial Tsunami

There is always no right or wrongs in choosing what one wants.  Yet, what we should think deeply is what do we really want for life.  Simply money? Simply enjoyment generating by materialisation?  Or does life mean more than that?

Knowledgeable life?   Fruitful life?  Happy moments with family and your beloved during a very normal chat/ home dinner?  Pursuing your real dream - to help the others, to do art/ music, to play sports, to do maths, to understand the philosophy and to better understand the world?

All we need, no matter you belonged to the post 80s or not, is to get control of your life.  It's you who can decide what you want for your life and to be responsible for what you've decided.  Once you make up your mind, go ahead without turning back.

We would be the most powerful beings to change our world and life when we found ourselves.

Current Reading - HSBC 2012

HSBC is one of the favourite stocks and banks in HK, especially for the people who born in the 50s and 60s.  One of the major reasons for such phenomena is because HSBC has been a trustworthy bank in the 80s which has been growing together with the HK people.

Economy environment changes vividly, which business expands locally to regionally and to globally.  HSBC slogan, "The worlds local bank", has deeply expressed this.  Besides, the change of financial game rules since the bloom of stock market has lead to various changes in lots of business including HSBC.  "Managing growth" has become the ultimate goal for lots of business in order to push their stock price, yet is it possible for a business to grow continuously non-stop?  Should a company aim at "managing business" rather than "managing growth"? 

HSBC has been expanded globally recently, from London and Hong Kong, to Asia-pacific like China, India, Indonesia, and even Bangladesh, as well as to other regions such as North America, Africa etc.  It successfully "managing growth", but how does it perform while "managing business"?

And what's next for HSBC to continue to "managing growth" after expanding their traditional banking business (i.e. commercial banking and personal banking e.g. loans) over the globe?  Expanding geographically is one of the means, while expanding in product and business lines would be the next.

In 2010, HSBC experiences a record low in ten years of $33.  Is HSBC still a great company for long-term investment?

This book has provided opinions and directions to evaluate HSBC.  Stay tune.