guys, the graduate, for having the fortitude to devote the past several years of your life to learning and pursuit of passion. i want to thank your parents, friends, family, teachers, faculty for helping make those streams possible. [applause] i need to warn the graduates that there are some people out there who do not hold you guys in the same highest teen that i do. one of them is jules stein, a columnist.eight he calls your generation "lazy, and title, selfish, shallow." what should we make of his claim? no doubt your generation will have to endorse and challenges. face a futuretes

that may be more uncertain than ever before. in 1994, 87% of students with new degrees were working full- time or part-time a year later. today that figure is just 73%. is still angree incredible advantage but not a guarantee of a good job or successful career. absolutely none of this is your fault. the bad news that we will be counting on you guys to clean up this mess the previous generation has left behind. that generation has pundits solving problem from a warming planet to growing national debt and is investing less in the future. federal spending is down to 0.8%. .ducation spending is down infrastructure spending is down.

it is expected to be at a 20 year low. how is it then that your generation is accused of being lazy, entitled, selfish, and shallow? [cheers and applause] livingour standard of leavin that has been threatened. there is more good news. be previous generation has left behind something else behind these problems. in everyught of data imaginable field. according to ibm, 90% of the eta and the world was created in the past two years. has notious generation done a very good job of transforming that data into useful knowledge. that will be up to you as well. it has been characterized by

hurricanes, wars, you name it. not all of these things could have been prevented but they all involve failure of analysis that magnifies the conflict quinc consequence. an earthquake as large as a whichude nine in 2011 was physically impossible. the fukushima reactor had only been built to an 8.6 instead. let me pause to relate a little bit. i published a fiscal model. i called all 50 states rights. genius behind this model. most of them were taking the polls. lots of our competitors did very based on variations of the

approach. forecasting the outcome is a much simpler problem and less consequential one. this generated an enormous amount of controversy. were creating google searches for my name then vice president biden. principlesuded by that may have been unhealthy. i was compared to justin bieber. i was vilified by some republicans. a thin,led me effeminate man with a soft sounding voice. allege this.cans some columnists predicted not only a romney win but a romney landslide. it was not just republicans that were giving me a hard time. 20 of pushback from

mainstream journalism. one said i would be called a one term celebrity if i didn't make a good election. is not therecasting most important thing in the world. it makes a more constructive test case. polls are objective facts. this is not speak very well to the adjustment or expertise. this is the point where i am supposed to blame a lack of fiscal literacy through these problems. there's no no doubt this is a big issue. taught veryt always well. there is a huge demand. by 43% overreased

the last 10 years. this is not that they do not know it. is that they do not know how much they do not know. they wallow in their ignorance. take for example the mission statement by the publication and politico. we do not focus on this. we focus almost exclusively on the smart set. is that elite is not a very good synonym for smart. it comes tohen professionally. learnd, the way we might something this by figuring out what they do and it doing exactly the opposite. performedn experiment by professor of site college he. he spent 20 years studying members of the political elite

from pundits to leaders. he asked them to make predictions of a number of events from the fall of the ussr. when he tallied up their stars, they had done barely any better than chimpanzees flinging poop. he found more experts went on television the worst the prediction tended to be. he found a certain type of expertise is a little better than the others. these references day back. to behavethis mean like one of those scrappy foxes who know how to make something out of all the data? ought tobeing a fox come very naturally to many of you. it means applying some of the same values. diversityto value

and independence. they like to consider a wide friday of information from people with a wide range of experiences. iny understand that we are a very complex universe. they think in terms of probability and not in absolutes. distrustfulhtfully of people who claim to have all the answers. they are not type a personalities. they know it results from a .ombination of skill they exuded a zen like calm that can master this. these are especially helpful when it comes to insights in a vast array of fiscal data. i suspect they will be just as helpful in many other areas. most political pundits are

that are wholly disconnected from reality. isfor jules stein, his money from fiscal thinking. he references a study showing that people in their 20s are a little bit more narcissistic than people a little older. that may be true. it has everything to do with age and nothing to do with your generation. you can find magazine articles dating back to 1907 which has accused them of being lazy, entitled and shallow. somehow they managed to defeat the not tease, send the man to a moon. and to bestow great works of art.

it?s obvious just by looking at you, and by feeling the passion and the energy in this room, that your generation is about to accomplish just as many great things. we may need you to accomplish more than your fair share, in fact.don't lose that spark. don't stop being angry. don't stop questioning authority. do not stop learning. do not do what the previous generation did. do better. take their laziness and turn it into your opportunity. thank you. congratulations. good luck. steve jobsars ago

gave a well-known commencement address at the university of california berkeley. this year steve wozniak gave the address. he also dropped out of school at berkeley and then returned more than a decade later. this is about 15 minutes. >> thank you very much. you have made when you can refer to steam or something like that. ,he proudest moment of my life i think two pictures i have seen. it was my graduation day at this campus.

i have never said otherwise. my wife and i were both a little bit mathematical. i will not make a profound speech, because the ideas you get in your own head are where the real profound this comes from. my wife and i are mathematical. when we go to a hotel, we judge the room by the room number. this time i was turned to me and said, 409, it is too squared and three squared. we got a good room. i will give you a little homework episode, is there ever a full moon on the same day everywhere on earth? thing about that on your own time. [laughter] another thing i get my mind, the tassels on the right right when i graduated from birth, and we graduated and moved it to the left. i assume this must be a standard role of universities. when the internet came along, and lifted up and found found that some did it the opposite way. some had it on all four corners, and that davis, have the people had it on left, and half on the right area i finally figured out it was to keep the tassels out the way of your face when your picture is being taken. very seldom do we pay attention to the fact that life does have

rules if you look for them. my wife and i recently went to a basketball game at stanford am a university of colorado versus stanford. was sitting in the colorado seats in thesection. i got recognized, they put me down in the front row of the stanford athletic directors box. there we were, wearing colorado colors, written for colorado. [applause] from early on in life, we learned to be loyal to our school. my school, right or wrong, my team, right or wrong. it might just what city i happen to live in. does that make a better person because i am in a city that has a better team? not really. it is a lighthearted, a game, a fun ritual. eventually in life we start saying, my country, right or wrong, rather than asking questions and challenging things that boil down to a lot of violence and death in the world. i was brought up top that there

are people who are strong and used their muscles and the power and death were to get somewhere. it is called braun. i wanted to be the other side, the grain side. it was important for the future of a person and for all of us areas that is where i sat. i wanted to always be on the brain side. i wanted to attend berkeley because it was a symbol of intellectual thought back in those counterculture times when people were talking about it being ok to live life different ways, that life could be different. the intellectuals at the university were challenging a lot of the accepted wisdom ways that we lived our life. a lot of intellectuals at this campus had stood up for human values, they had stood up for -- excuse me, there is a little bit

of an echo. they stood up for human rights, wars that were wrong and protested. i remember groups coming down, breaking every window, teargas. we collected rubber bullets when i was here. it was a hard time to remember. but there were a lot of people standing up for something that was right and for fair treatment as well. intellectuals stand up and say, people should have certain rights to how they are going to be accused of something. what does it mean, innocent till proven guilty? the burden of proof is on the accuser. we often forget that sort of stuff. we challenged a war, the vietnam war. the phrase, make love not war, i took that into my heart and became a pacifist as a result. ripley was the best time of my life. it was the best friends, the best experiences, the most exciting time. you're able to get the freedom in your life to explore, to be curious, to learn things. what ever you want to do to set your own directions and make choices. you also might get your first