Find a Wave and Ride It - Erik Straser (MDV)

Summary

The 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.