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.

Outlines

00:00

📚 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.

Keywords

💡Student of the Game

This concept refers to the speaker's approach of learning from various experiences and people, regardless of their field. In the script, the speaker emphasizes that during their time as a student, they actively sought to learn not just from their own discipline but from friends in other fields like medicine, law, and business. It highlights the importance of being open to diverse knowledge and experiences in order to succeed.

💡Waves

The term 'waves' in the context of the video refers to major, long-lasting trends or shifts in industries, such as the rise of personal computing in Silicon Valley. The speaker advises the audience to identify and ride a 'long wave' that will shape their professional lives for 15 to 30 years, such as the personal computer wave of the 1980s. These waves represent opportunities for career growth and success.

💡Silicon Valley

Silicon Valley is used as a case study to illustrate how successive waves of innovation, such as the personal computer revolution, have shaped the careers and opportunities available to people. The speaker discusses how Silicon Valley has historically been a hub for innovation, driven by various technological trends that have had lasting impacts on industries and individuals' careers.

💡Long Wave

A 'long wave' refers to a significant, sustained trend that will last for decades. The speaker encourages the audience to find and align themselves with such trends in their professional lives, as it can lead to greater success. The personal computing wave of the 1970s and 1980s is given as an example of a long wave that offered immense opportunities for those involved.

💡Personal Computer (PC) Wave

This specific wave refers to the rise of the personal computer industry, which started in the 1970s and peaked around the time of the Microsoft IPO. The speaker uses this example to illustrate how being part of a transformative technological trend can offer extraordinary opportunities for career growth and financial success.

💡Microsoft IPO

The Microsoft Initial Public Offering (IPO) is cited as a milestone in the personal computer wave. The speaker mentions it as an example of a key moment when those involved in the early days of the PC industry reaped significant rewards. The reference illustrates the importance of being involved in a long wave at the right time to maximize career potential.

💡Geography Perspective

This refers to the idea that one's location can significantly affect their career opportunities. The speaker suggests that geography plays a role in determining what industries or 'waves' you have access to. For example, being in Silicon Valley during the rise of the PC wave would have offered more opportunities than being in Detroit, which is associated with the declining automotive industry.

💡Interest Perspective

This concept is about aligning one’s personal interests with a long-term wave. The speaker encourages students to think about not only the opportunities that a wave presents but also whether it aligns with their passions and goals. For example, someone interested in technology would naturally align with the PC wave, ensuring a fulfilling and successful career.

💡Bioengineering

Bioengineering is one of the key fields mentioned as an emerging wave at the speaker’s university. It involves applying principles from engineering to biology, and the speaker notes that this field is evolving into a quantitative science. Bioengineering represents one of the future waves that students can focus on for long-term career opportunities.

💡Energy and Environment

The speaker lists energy and the environment as another major area of focus at the university, driven by the increasing global demand for sustainable solutions. This field is seen as a future wave that offers long-term career opportunities for those looking to address some of the world's biggest challenges, such as climate change and energy efficiency.

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