I think of all the forms of leverage, the best one in modern society and people are gonna, this is glib, this is overused, and this is why I tell people, learn to code
We have this idea that in the future, there's gonna be these robots and they're gonna be doing everything
And that may be true
But I would say the majority of the robot revolution has already happened
The robots are already here and there are way more robots than there are humans
It's just that we packed them in data centers for heat and efficiency reasons
Put them in servers, they're inside the computers
And all the circuits, the robot mind inside that's doing all the work
And so every great software developer, for example, now has an army of robots working for him at nighttime while he or she sleeps
We have this idea that in the future, there's gonna be these robots and they're gonna be doing everything
And that may be true
But I would say the majority of the robot revolution has already happened
The robots are already here and there are way more robots than there are humans
It's just that we packed them in data centers for heat and efficiency reasons
Put them in servers, they're inside the computers
And all the circuits, the robot mind inside that's doing all the work
And so every great software developer, for example, now has an army of robots working for him at nighttime while he or she sleeps
The most interesting and the most important form of leverage is this idea of products that have no marginal cost of replication
This is the new form of leverage
This is only invented in the last few hundred years
It got started with the printing press
It accelerated with broadcast media and now it's really blown up with the internet and with code
So now you can multiply your efforts without having to involve other humans and without needing money from other humans
This song is a form of leverage
This album is a form of leverage
Not long ago, I would have had to sit in a lecture hall and lecture each of you personally and I would have maybe reached a few hundred people and that would have been that
30 years ago, I would have to be lucky to get on TV which is somebody else's leverage
This is the new form of leverage
This is only invented in the last few hundred years
It got started with the printing press
It accelerated with broadcast media and now it's really blown up with the internet and with code
So now you can multiply your efforts without having to involve other humans and without needing money from other humans
This song is a form of leverage
This album is a form of leverage
Not long ago, I would have had to sit in a lecture hall and lecture each of you personally and I would have maybe reached a few hundred people and that would have been that
30 years ago, I would have to be lucky to get on TV which is somebody else's leverage
[Chorus]
A powerful form of leverage
Is capital
Is capital
Is capital
A powerful form of leverage
Is capital
Is capital
Is capital
And this one's a little less hardwired into us because large amounts of money moving around and being saved and being invested in money markets, these are inventions of human beings in the last few hundred, to a few thousand years
They're not evolved with us from hundreds of thousands of years
So we understand them a little bit less well
A powerful form of leverage
Is capital
Is capital
Is capital
A powerful form of leverage
Is capital
Is capital
Is capital
And this one's a little less hardwired into us because large amounts of money moving around and being saved and being invested in money markets, these are inventions of human beings in the last few hundred, to a few thousand years
They're not evolved with us from hundreds of thousands of years
So we understand them a little bit less well
Fortunes require leverage
Business leverage comes from capital, people, and products with no marginal cost of replication
[Chorus]
Give me a lever long enough and a place to stand and I will move the Earth
Give me a lever long enough and a place to stand and I will move the Earth
Give me a lever long enough and a place to stand and I will move the Earth
Give me a lever long enough and a place to stand (and I will move the Earth)
Leverage is critical
We all know what leverage is when we use a seesaw or a lever
We understand how that works physically
Business leverage comes from capital, people, and products with no marginal cost of replication
[Chorus]
Give me a lever long enough and a place to stand and I will move the Earth
Give me a lever long enough and a place to stand and I will move the Earth
Give me a lever long enough and a place to stand and I will move the Earth
Give me a lever long enough and a place to stand (and I will move the Earth)
Leverage is critical
We all know what leverage is when we use a seesaw or a lever
We understand how that works physically
[Intro]
You can't blame it on the steward or the stewardess
You can't blame it on the co-pilot
You're the captain, you're responsible for this ship
You can't blame it on the steward or the stewardess
You can't blame it on the co-pilot
You're the captain, you're responsible for this ship
Accountability
Accountability
Accountability is important because that's how you're going to get leverage
That's how you're going to get credibility
It's also how you're going to get equity
You're gonna get a piece of the business
When you're negotiating with other people, ultimately if someone else is making a decision about how to compensate you, that decision will be based on how replaceable you are
You can't blame it on the steward or the stewardess
You can't blame it on the co-pilot
You're the captain, you're responsible for this ship
You can't blame it on the steward or the stewardess
You can't blame it on the co-pilot
You're the captain, you're responsible for this ship
Accountability
Accountability
Accountability is important because that's how you're going to get leverage
That's how you're going to get credibility
It's also how you're going to get equity
You're gonna get a piece of the business
When you're negotiating with other people, ultimately if someone else is making a decision about how to compensate you, that decision will be based on how replaceable you are