Find a Wave and Ride It - Erik Straser (MDV)
Summary
TLDRThe speaker emphasizes the importance of identifying long-term trends or 'waves' that will shape careers over the next 15 to 30 years. They share personal experiences from interacting with diverse students and learning about Silicon Valley's history, particularly the PC wave. The key advice is to align one's career with a significant, emerging trend, such as information technology, bioengineering, or energy, as seen in university research initiatives. Choosing the right wave can lead to greater professional success, while avoiding declining industries is crucial for future growth.
Takeaways
- 📚 The speaker emphasizes being a 'student of the game' by learning from interactions with different students across diverse fields like medicine, law, and business.
- 🌊 Silicon Valley is built on successive waves of innovation, with one notable wave being the rise of the personal computer (PC) industry.
- 💡 The speaker advises identifying and aligning with a long-term trend or 'wave' that will last 15-30 years, as it can lead to career success and growth.
- 📈 Jumping into a thriving industry, like the computer business in the late 70s and early 80s, increased the chances of professional success compared to other fields.
- 🌍 It is crucial to choose a wave that fits one's interests, geographic location, and long-term career goals.
- 🔬 The speaker identifies current major areas of focus in the School of Engineering: information technology, bioengineering, and energy/environmental sciences.
- 🏫 Research universities like Stanford often become the birthplace of these long-term waves, as they focus on fields where big challenges and opportunities lie.
- 👨🔬 The technologies developed in research universities often lead to startups and innovative solutions in the real world.
- 🔍 Observing the trends and research at a university can give insight into future opportunities and potential career paths.
- 🌟 The key message is to make sure you're riding an upward wave and not aligning with a declining industry or trend.
Q & A
What is the speaker's main piece of advice to the audience?
-The speaker advises the audience to find and ride a long wave — an immutable trend that will last for the majority of their career, as doing so can significantly enhance their professional prospects.
Why does the speaker use the example of Silicon Valley in their message?
-The speaker references Silicon Valley to highlight how its growth was driven by successive waves of technological advancements, such as the PC wave, and emphasizes that identifying and joining such a wave can lead to significant success.
What are the three main focus areas of the School of Engineering mentioned by the speaker?
-The three main focus areas of the School of Engineering are information technology, bioengineering (moving biology to a quantitative science), and energy/environment.
How does the speaker relate research universities to the concept of waves?
-The speaker explains that research universities are at the forefront of identifying and driving the next big waves, as they focus on cutting-edge technologies and recruit faculty based on emerging challenges, which eventually lead to startups.
What historical wave does the speaker mention as an example of a successful long wave?
-The speaker mentions the PC wave, where getting involved in the computer business in the late 70s and early 80s, up until the Microsoft IPO, provided a phenomenal 20-25 year career opportunity.
What does the speaker suggest people should avoid in terms of career choices?
-The speaker suggests that people should avoid riding a wave that is going down, giving the example of choosing an industry like Detroit (which likely refers to the decline of the traditional automotive industry).
Why does the speaker believe the big challenges in engineering are important?
-The speaker believes these challenges are important because they attract top faculty, research grants, and shape the technologies that will lead to future startups, making them key drivers of future waves.
How does the speaker suggest the audience identify potential waves?
-The speaker suggests the audience look around their own campus, observe what research is being conducted, and pay attention to emerging technologies, especially those backed by research universities.
Why does the speaker believe being in Silicon Valley offers an advantage in identifying long waves?
-The speaker believes that being in Silicon Valley offers a unique vantage point because it is at the center of technological innovation, where one can easily observe the emergence of significant trends like the PC wave.
What should be considered when deciding which wave to ride, according to the speaker?
-The speaker advises considering personal interest, geography, and life goals when deciding which wave to ride, ensuring that it aligns with both personal and professional aspirations.
Outlines
📚 Learning from Different Waves of Innovation
The speaker reflects on their time as a student, emphasizing the importance of learning from various fields such as medicine, law, and business. They introduce the concept of Silicon Valley being built on successive waves of innovation, with the personal computer (PC) wave being a significant example. The speaker suggests that choosing to align oneself with a long-term wave or trend—such as the PC wave in the 70s and 80s—can lead to sustained professional success over decades. They urge students to identify and ride a wave that will permeate their careers, rather than choosing fields with declining prospects.
🌊 Identifying Your Career's Wave
The speaker advises the audience to think about their long-term career trajectory by identifying trends or waves that will shape the next 15 to 30 years. They cite the computer industry boom in the late 70s as an example of a powerful wave that offered professionals substantial career advantages. By aligning oneself with a growing trend, they argue, one can achieve higher career status and financial success. The speaker contrasts this with less favorable choices, such as working in industries like Detroit's, and stresses the importance of picking a wave aligned with one's interests and geography.
🏫 Innovation in Education and Research
The speaker explains that prestigious research universities like the one they are addressing are key drivers of future technological waves. They reference the engineering school's focus on three areas: information technology, bioengineering (shifting biology to a quantitative science), and energy/environment. These areas represent the university's effort to address major societal challenges while attracting faculty and research funding. Students are encouraged to recognize the research happening around them, as these innovations will likely give rise to new startups and industries in the next 5 to 10 years.
🔍 Finding Your Wave at Ground Zero
In this conclusion, the speaker emphasizes that universities are often the birthplace of future innovations. They advise students to observe the ongoing research projects around them to discover the next wave of technology. The speaker acknowledges that not every field may suit everyone, but strongly advises making sure that the 'wave' one is riding is an upward, not a downward trend. This forward-thinking approach is presented as a key strategy for achieving long-term success.
Mindmap
Keywords
💡Student of the Game
💡Waves
💡Silicon Valley
💡Long Wave
💡Personal Computer (PC) Wave
💡Microsoft IPO
💡Geography Perspective
💡Interest Perspective
💡Bioengineering
💡Energy and Environment
Highlights
The importance of being a student of the game and learning from diverse fields, such as medicine, law, and business.
Silicon Valley's growth is based on successive waves of innovation, including the PC wave.
The speaker advises identifying and riding a long-lasting wave of innovation for career success, lasting 15 to 30 years.
Jumping into the computer business during the late 70s to early 80s resulted in a highly successful career trajectory for many.
Choosing the right wave of innovation can lead to higher career positions and greater material success compared to other industries.
The importance of understanding the geographic and personal interests when deciding which wave to ride.
The speaker highlights bioengineering, energy, and information technology as key areas of focus within Stanford's School of Engineering.
Research universities are at the forefront of innovation, often initiating significant technological waves.
The speaker stresses the importance of looking at the research being done on campus to understand upcoming waves.
The connection between academic research and future startup trends is evident, especially in areas like bioengineering and clean technology.
Innovation in energy and environment, as well as bioengineering, will likely drive the next significant waves of technological advancement.
Faculty recruitment and research grants often shape the direction of research institutions, highlighting future areas of growth.
The speaker encourages students to focus on areas with future challenges, which research institutions are already targeting.
Research universities play a pivotal role in starting significant waves of technological and societal change.
Avoid aligning your career with a declining wave by staying informed about emerging and sustained technological trends.
Transcripts
I try to be a student of the game when I
was a a student here I wanted to really
learn about the different students I was
interacting with I had friends that were
in the medical school I had friends that
were in law school I had friends in the
business school and one of the things I
um uh came to understand and learning
about the history of Silicon Valley is
that the valley is built on a set of
successive waves and one of the Waves
was the PC wave so one of my messages
for the group we'll probably get to it a
little bit later um is if you did
nothing I know most of you are here for
Master's programs there might be some
undergraduates in the audience also as
you're thinking about what you want to
do when you leave this room the number
one thing I would advise you that would
be smart to do is to figure out how to
find a long wave some immutable Trend
that is going to permeate most of the
tenure of your career the next 15 to 30
years if you sat down and said what are
the big long ways that are going to
happen during my lifetime jumping on one
of them as a professional will probably
be one of the smartest moves you ever do
because if you did nothing but jump into
the computer business in the late 70s
early 80s even maybe all the way up to
the Microsoft IPO you had a phenomenal
run a phenomenal run 20s something years
maybe 25 years where you had a very high
chance much higher chance than the
average person of achieving higher
position perhaps more
material uh income and just being in a a
better place than if You' you chosen for
example
Detroit and so I think you know you got
to think about what wave you're on and
how do you get on the wave that makes
sense for you both from an interest
perspective a geography perspective what
you want to do with your life I decided
that this was going to be a very long
wave this would probably be the most
impactful wave you can imagine what the
other ones are it's easiest to see them
right here on campus Because if you go
read the last I read just this last week
the last statement that comes out from
uh Dean plumber from the School of
Engineering he tells you what the
school's focused on the school is
focused in three big areas information
technology which it has been for a long
time that's kind of the the most mature
of the three areas it's really pursuing
bioengineering and moving biology to a
quantitative
science and energy in the environment
those are the three thrusts inside the
School of Engineering right now guess
what 5 to 10 years from now those are
the students and professors and
technologies that spin out and do
startups why is the school oriented
there because those are where the big
challenges are that's where they can
recruit faculty to that's where they can
find research grants from and so what
you're seeing research universities are
the start of the Waves right so you're
here at Ground Zero on it you just have
to look around and see what they are and
understand what research is going on on
campus so I don't know whether you know
clean text the the one for you but I
would tell you the number one thing you
can do is figure out what wave are you
riding and make sure you're not on a
wave that's going
down
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