Larry Page's Univ. of Michigan commencement

Full transcript:

Class of 2009! First I'd like you to get up, wave and cheer your supportive family and friends! Show your love!

It is a great honor for me to be here today.

Now wait a second. I know: that's such a cliché. You're thinking: every graduation speaker says that -- It's a great honor. But, in my case, it really is so deeply true -- being here is more special and more personal for me than most of you know. I'd like to tell you why.

A long time ago, in the cold September of 1962, there was a Steven's co-op at this very university. That co-op had a kitchen with a ceiling that had been cleaned by student volunteers every decade or so. Picture a college girl named Gloria, climbing up high on a ladder, struggling to clean that filthy ceiling. Standing on the floor, a young boarder named Carl was admiring the view. And that's how they met. They were my parents, so I suppose you could say I'm a direct result of that kitchen chemistry experiment, right here at Michigan. My Mom is here with us today, and we should probably go find the spot and put a plaque up on the ceiling that says: "Thanks Mom and Dad!"

Everyone in my family went to school here at Michigan: me, my brother, my Mom and Dad -- all of us. My Dad actually got the quantity discount: all three and a half of his degrees are from here. His Ph.D. was in Communication Science because they thought Computers were just a passing fad. He earned it 44 years ago. He and Mom made a big sacrifice for that. They argued at times over pennies, while raising my newborn brother. Mom typed my Dad's dissertation by hand. This velvet hood I'm wearing, this was my Dad's. And this diploma, just like the one you're are about to get, that was my Dad's. And my underwear, that was... oh never mind.

My father's father worked in the Chevy plant in Flint, Michigan. He was an assembly line worker. He drove his two children here to Ann Arbor, and told them: That is where you're going to go to college. Both his kids did graduate from Michigan. That was the American dream. His daughter, Beverly, is with us today. My Grandpa used to carry an "Alley Oop" hammer -- a heavy iron pipe with a hunk of lead melted on the end. The workers made them during the sit-down strikes to protect themselves. When I was growing up, we used that hammer whenever we needed to pound a stake or something into the ground. It is wonderful that most people don't need to carry a heavy blunt object for protection anymore. But just in case, I have it here.

My Dad became a professor at uh... Michigan State, and I was an incredibly lucky boy. A professor's life is pretty flexible, and he was able to spend oodles of time raising me. Could there be a better upbringing than university brat?

What I'm trying to tell you is that this is WAY more than just a homecoming for me. It's not easy for me to express how proud I am to be here, with my Mom, my brother and my wife Lucy, and with all of you, at this amazing institution that is responsible for my very existence. I am thrilled for all of you, and I'm thrilled for your families and friends, as all of us join the great, big Michigan family I feel I've been a part of all of my life.

What I'm also trying to tell you is that I know exactly what it feels like to be sitting in your seat, listening to some old gasbag give a long-winded commencement speech. Don't worry. I'll be brief.

I have a story about following dreams. Or maybe more accurately, it's a story about finding a path to make those dreams real.

You know what it's like to wake up in the middle of the night with a vivid dream? And you know how, if you don't have a pencil and pad by the bed to write it down, it will be completely gone the next morning?

Well, I had one of those dreams when I was 23. When I suddenly woke up, I was thinking: what if we could download the whole web, and just keep the links and... I grabbed a pen and started writing! Sometimes it is important to wake up and stop dreaming. I spent the middle of that night scribbling out the details and convincing myself it would work. Soon after, I told my advisor, Terry Winograd, it would take a couple of weeks to download the web -- he nodded knowingly, fully aware it would take much longer but wise enough to not tell me. The optimism of youth is often underrated! Amazingly, I had no thought of building a search engine. The idea wasn't even on the radar. But, much later we happened upon a better way of ranking webpages to make a really great search engine, and Google was born. When a really great dream shows up, grab it!

When I was here at Michigan, I had actually been taught how to make dreams real! I know it sounds funny, but that is what I learned in a summer camp converted into a training program called Leadershape. Their slogan is to have a "healthy disregard for the impossible". That program encouraged me to pursue a crazy idea at the time: I wanted to build a personal rapid transit system on campus to replace the buses. It was a futuristic way of solving our transportation problem. I still think a lot about transportation -- you never loose a dream, it just incubates as a hobby. Many things that people labor hard to do now, like cooking, cleaning, and driving will require much less human time in the future. That is, if we "have a healthy disregard for the impossible" and actually build new solutions.

I think it is often easier to make progress on mega-ambitious dreams. I know that sounds completely nuts. But, since no one else is crazy enough to do it, you have little competition. There are so few people this crazy that I feel like I know them all by first name. They all travel as if they are pack dogs and stick to each other like glue. The best people want to work the big challenges. That is what happened with Google. Our mission is to organize the world's information and make it universally accessible and useful. How can that not get you excited? But we almost didn't start Google because my co-founder Sergey and I were too worried about dropping out of our Ph.D. program. You are probably on the right track if you feel like a sidewalk worm during a rainstorm! That is about how we felt after we maxed out three credit cards buying hard disks off the back of a truck. That was the first hardware for Google. Parents and friends: more credit cards always help. What is the one sentence summary of how you change the world? Always work hard on something uncomfortably exciting!

As a Ph.D. student, I actually had three projects I wanted to work on. Thank goodness my advisor said, "why don't you work on the web for a while". He gave me some seriously good advice because the web was really growing with people and activity, even in 1995! Technology and especially the internet can really help you be lazy. Lazy? What I mean is a group of three people can write software that millions can use and enjoy. Can three people answer the phone a million times a day? Find the leverage in the world, so you can be more lazy!

Overall, I know it seems like the world is crumbling out there, but it is actually a great time in your life to get a little crazy, follow your curiosity, and be ambitious about it. Don't give up on your dreams. The world needs you all!

So here's my final story:

On a day like today, you might feel exhilarated — like you've just been shot out of a cannon at the circus -- and even invincible. Don't ever forget that incredible feeling. But also: always remember that the moments we have with friends and family, the chances we have to do things that might make a big difference in the world, or even to make a small difference to someone you love — all those wonderful chances that life gives us, life also takes away. It can happen fast, and a whole lot sooner than you think.

In late March 1996, soon after I had moved to Stanford for grad school, my Dad had difficultly breathing and drove to the hospital. Two months later, he died. And that was it. I was completely devastated. Many years later, after a startup, after falling in love, and after so many of life's adventures, I found myself thinking about my Dad. Lucy and I were far away in a steaming hot village walking through narrow streets. There were wonderful friendly people everywhere, but it was a desperately poor place -- people used the bathroom inside and it flowed out into the open gutter and straight into the river. We touched a boy with a limp leg, the result of paralysis from polio. Lucy and I were in rural India -- one of the few places where Polio still exists. Polio is transmitted fecal to oral, usually through filthy water. Well, my Dad had Polio. He went on a trip to Tennessee in the first grade and caught it. He was hospitalized for two months and had to be transported by military DC-3 back home -- his first flight. My Dad wrote, "Then, I had to stay in bed for over a year, before I started back to school". That is actually a quote from his fifth grade autobiography. My Dad had difficulty breathing his whole life, and the complications of Polio are what took him from us too soon. He would have been very upset that Polio still persists even though we have a vaccine. He would have been equally upset that back in India we had polio virus on our shoes from walking through the contaminated gutters that spread the disease. We were spreading the virus with every footstep, right under beautiful kids playing everywhere. The world is on the verge of eliminating polio, with 328 people infected so far this year. Let's get it done soon. Perhaps one of you will do that.

My Dad was valedictorian of Flint Mandeville High School 1956 class of about 90 kids. I happened across his graduating speech recently, and it blew me away. 53 years ago at his graduation my Dad said: "...we are entering a changing world, one of automation and employment change where education is an economic necessity. We will have increased periods of time to do as we wish, as our work week and retirement age continue to decline. ... We shall take part in, or witness, developments in science, medicine, and industry that we can not dream of today. ... It is said that the future of any nation can be determined by the care and preparation given to its youth. If all the youths of America were as fortunate in securing an education as we have been, then the future of the United States would be even more bright than it is today."

If my Dad was alive today, the thing I think he would be most happy about is that Lucy and I have a baby in the hopper. I think he would have been annoyed that I hadn't gotten my Ph.D. yet (thanks, Michigan!). Dad was so full of insights, of excitement about new things, that to this day, I often wonder what he would think about some new development. If he were here today -- well, it would be one of the best days of his life. He'd be like a kid in a candy store. For a day, he'd be young again.

Many of us are fortunate enough to be here with family. Some of us have dear friends and family to go home to. And who knows, perhaps some of you, like Lucy and I, are dreaming about future families of your own. Just like me, your families brought you here, and you brought them here. Please keep them close and remember: they are what really matters in life.

Thanks, Mom; Thanks, Lucy.
And thank you, all, very much.

N R Narayana Murthy at the New York University

N R Narayana Murthy, chief mentor and chairman of the board, Infosys Technologies, delivered a pre-commencement lecture at the New York University ( Stern School of Business) on May 9. It is a scintillating speech, Murthy speaks about the lessons he learnt from his life and career. We present it for our readers:

Dean Cooley, faculty, staff, distinguished guests, and, most importantly, the graduating class of 2007, it is a great privilege to speak at your commencement ceremonies.

I thank Dean Cooley and Prof Marti Subrahmanyam for their kind invitation. I am exhilarated to be part of such a joyous occasion. Congratulations to you, the class of 2007, on completing an important milestone in your life journey.

After some thought, I have decided to share with you some of my life lessons. I learned these lessons in the context of my early career struggles, a life lived under the influence of sometimes unplanned events which were the crucibles that tempered my character and reshaped my future.

I would like first to share some of these key life events with you, in the hope that these may help you understand my struggles and how chance events and unplanned encounters with influential persons shaped my life and career.

Later, I will share the deeper life lessons that I have learned. My sincere hope is that this sharing will help you see your own trials and tribulations for the hidden blessings they can be.

The first event occurred when I was a graduate student in Control Theory at IIT, Kanpur , in India . At breakfast on a bright Sunday morning in 1968, I had a chance encounter with a famous computer scientist on sabbatical from a well-known US university.

He was discussing exciting new developments in the field of computer science with a large group of students and how such developments would alter our future. He was articulate, passionate and quite convincing. I was hooked. I went straight from breakfast to the library, read four or five papers he had suggested, and left the library determined to study computer science.

Friends, when I look back today at that pivotal meeting, I marvel at how one role model can alter for the better the future of a young student. This experience taught me that valuable advice can sometimes come from an unexpected source, and chance events can sometimes open new doors.


The next event that left an indelible mark on me occurred in 1974. The location: Nis , a border town between former Yugoslavia , now Serbia , and Bulgaria . I was hitchhiking from Paris back to Mysore , India , my home town.

By the time a kind driver dropped me at Nis railway station at 9 p.m. on a Saturday night, the restaurant was closed. So was the bank the next morning, and I could not eat because I had no local money. I slept on the railway platform until 8.30 pm in the night when the Sofia Express pulled in.

The only passengers in my compartment were a girl and a boy. I struck a conversation in French with the young girl. She talked about the travails of living in an iron curtain country, until we were roughly interrupted by some policemen who, I later gathered, were summoned by the young man who thought we were criticising the communist government of Bulgaria .

The girl was led away; my backpack and sleeping bag were confiscated. I was dragged along the platform into a small 8x8 foot room with a cold stone floor and a hole in one corner by way of toilet facilities. I was held in that bitterly cold room without food or water for over 72 hours.

I had lost all hope of ever seeing the outside world again, when the door opened. I was again dragged out unceremoniously, locked up in the guard's compartment on a departing freight train and told that I would be released 20 hours later upon reaching Istanbul . The guard's final words still ring in my ears -- "You are from a friendly country called India and that is why we are letting you go!"

The journey to Istanbul was lonely, and I was starving. This long, lonely, cold journey forced me to deeply rethink my convictions about Communism. Early on a dark Thursday morning, after being hungry for 108 hours, I was purged of any last vestiges of affinity for the Left.

I concluded that entrepreneurship, resulting in large-scale job creation, was the only viable mechanism for eradicating poverty in societies.

Deep in my heart, I always thank the Bulgarian guards for transforming me from a confused Leftist into a determined, compassionate capitalist! Inevitably, this sequence of events led to the eventual founding of Infosys in 1981.

While these first two events were rather fortuitous, the next two, both concerning the Infosys journey, were more planned and profoundly influenced my career trajectory.


On a chilly Saturday morning in winter 1990, five of the seven founders of Infosys met in our small office in a leafy Bangalore suburb. The decision at hand was the possible sale of Infosys for the enticing sum of $1 million. After nine years of toil in the then business-unfriendly India , we were quite happy at the prospect of seeing at least some money.

I let my younger colleagues talk about their future plans. Discussions about the travails of our journey thus far and our future challenges went on for about four hours. I had not yet spoken a word.

Finally, it was my turn. I spoke about our journey from a small Mumbai apartment in 1981 that had been beset with many challenges, but also of how I believed we were at the darkest hour before the dawn. I then took an audacious step. If they were all bent upon selling the company, I said, I would buy out all my colleagues, though I did not have a cent in my pocket.

There was a stunned silence in the room. My colleagues wondered aloud about my foolhardiness. But I remained silent. However, after an hour of my arguments, my colleagues changed their minds to my way of thinking. I urged them that if we wanted to create a great company, we should be optimistic and confident. They have more than lived up to their promise of that day.

In the seventeen years since that day, Infosys has grown to revenues in excess of $3.0 billion, a net income of more than $800 million and a market capitalisation of more than $28 billion, 28,000 times richer than the offer of $1 million on that day.

In the process, Infosys has created more than 70,000 well-paying jobs, 2,000-plus dollar-millionaires and 20,000-plus rupee millionaires.


A final story: On a hot summer morning in 1995, a Fortune-10 corporation had sequestered all their Indian software vendors, including Infosys, in different rooms at the Taj Residency hotel in Bangalore so that the vendors could not communicate with one another. This customer's propensity for tough negotiations was well-known. Our team was very nervous.


First of all, with revenues of only around $5 million, we were minnows compared to the customer.

Second, this customer contributed fully 25% of our revenues. The loss of this business would potentially devastate our recently-listed company.

Third, the customer's negotiation style was very aggressive. The customer team would go from room to room, get the best terms out of each vendor and then pit one vendor against the other. This went on for several rounds. Our various arguments why a fair price -- one that allowed us to invest in good people, R&D, infrastructure, technology and training -- was actually in their interest failed to cut any ice with the customer.


By 5 p.m. on the last day, we had to make a decision right on the spot whether to accept the customer's terms or to walk out.

All eyes were on me as I mulled over the decision. I closed my eyes, and reflected upon our journey until then. Through many a tough call, we had always thought about the long-term interests of Infosys. I communicated clearly to the customer team that we could not accept their terms, since it could well lead us to letting them down later. But I promised a smooth, professional transition to a vendor of customer's choice.

This was a turning point for Infosys.

Subsequently, we created a Risk Mitigation Council which ensured that we would never again depend too much on any one client, technology, country, application area or key employee. The crisis was a blessing in disguise. Today, Infosys has a sound de-risking strategy that has stabilised its revenues and profits.

I want to share with you, next, the life lessons these events have taught me.


1. I will begin with the importance of learning from experience. It is less important, I believe, where you start. It is more important how and what you learn. If the quality of the learning is high, the development gradient is steep, and, given time, you can find yourself in a previously unattainable place. I believe the Infosys story is living proof of this.

Learning from experience, however, can be complicated. It can be much more difficult to learn from success than from failure. If we fail, we think carefully about the precise cause. Success can indiscriminately reinforce all our prior actions.


2. A second theme concerns the power of chance events. As I think across a wide variety of settings in my life, I am struck by the incredible role played by the interplay of chance events with intentional choices. While the turning points themselves are indeed often fortuitous, how we respond to them is anything but so. It is this very quality of how we respond systematically to chance events that is crucial.


3. Of course, the mindset one works with is also quite critical. As recent work by the psychologist, Carol Dweck, has shown, it matters greatly whether one believes in ability as inherent or that it can be developed. Put simply, the former view, a fixed mindset, creates a tendency to avoid challenges, to ignore useful negative feedback and leads such people to plateau early and not achieve their full potential.

The latter view, a growth mindset, leads to a tendency to embrace challenges, to learn from criticism and such people reach ever higher levels of achievement (Krakovsky, 2007: page 48).


4. The fourth theme is a cornerstone of the Indian spiritual tradition: self-knowledge. Indeed, the highest form of knowledge, it is said, is self-knowledge. I believe this greater awareness and knowledge of oneself is what ultimately helps develop a more grounded belief in oneself, courage, determination, and, above all, humility, all qualities which enable one to wear one's success with dignity and grace.

Based on my life experiences, I can assert that it is this belief in learning from experience, a growth mindset, the power of chance events, and self-reflection that have helped me grow to the present.

Back in the 1960s, the odds of my being in front of you today would have been zero. Yet here I stand before you! With every successive step, the odds kept changing in my favour, and it is these life lessons that made all the difference.

My young friends, I would like to end with some words of advice. Do you believe that your future is pre-ordained, and is already set? Or, do you believe that your future is yet to be written and that it will depend upon the sometimes fortuitous events?

Do you believe that these events can provide turning points to which you will respond with your energy and enthusiasm? Do you believe that you will learn from these events and that you will reflect on your setbacks? Do you believe that you will examine your successes with even greater care?

I hope you believe that the future will be shaped by several turning points with great learning opportunities. In fact, this is the path I have walked to much advantage.

A final word: When, one day, you have made your mark on the world, remember that, in the ultimate analysis, we are all mere temporary custodians of the wealth we generate, whether it be financial, intellectual, or emotional. The best use of all your wealth is to share it with those less fortunate.

I believe that we have all at some time eaten the fruit from trees that we did not plant. In the fullness of time, when it is our turn to give, it behooves us in turn to plant gardens that we may never eat the fruit of, which will largely benefit generations to come. I believe this is our sacred responsibility, one that I hope you will shoulder in time.

Thank you for your patience. Go forth and embrace your future with open arms, and pursue enthusiastically your own life journey of discovery!