The news of the day tomorrow will most certainly be about Steve Jobs and his resignation as Apple’s CEO. I don’t know what prompted it and it’s not even worth speculating about. But one thing is certain. Steve Jobs is, without a doubt, one of the great entrepreneurs in the history of humankind.
I’ve spent a lot of time in recent years talking about how to fix the US economy and what policies we need to implement to fix this and that. And in all of this discussion it’s easy to forget what really drives economic growth. It is the vision of men and women who create new ways of thinking about the world and new ways of improving our daily lives that really generates economic growth. Governments rarely do this, tax cuts rarely do this and banks most certainly do not do this. We advance as a society and as human beings when we are surrounded by entrepreneurs who create goods or services that improve our standard of living. This improvement in our standard of living can come in the form of great thinking, great productivity or great ingenuity. But it always comes from entrepreneurs.
I am attaching Steve Jobs’ 2005 commencement speech at Stanford. He touches on several important topics that he says helped mold him into the person he has become. It’s a must watch in my opinion for anyone interested in learning what it means to become a great entrepreneur.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.