You lead the company through the 90s, it became one of the most Iconic Companies in American History, and you as a result, one of the most iconic entrepreneurs in American History and by any measure one of the great businesspeople of our generation. Guest maybe should stop there and call it a day. Host i think i saw somewhere on its peak half of americans who connected to the internet connected to america online. It became so popular they made a movie about it, youve got mails starring tom hanks before he was really tom hanks, by the way. Then you had a big merger with time warner, biggest merger in American History and then he went on to continue to be a very successful business person and investor he started the revolution Investment Fund which is invested in the hundred Startup Companies including zipcar sweet green, and others. So i write the book now i have to imagine that back in those days there people bidding down the door and when i first saw it i had a chance to see it before first got published. I was like how come you had not written a book before . So why now . Guest its a great question. Ive been been talking to people about 20 years about but time warner didnt turn out as expected i was not that interested in a memoir, was much more interested in what is happening next, or the future. Like the past. I was not that motivated. It was about two years ago i was traveling throughout the country understanding what is happening with startups around the country. It dawned on me that there was this first wave and second wave and third wave about the break. It was going to be different and some of the lessons from the first wave would be helpful to the third way. Maybe it was time to write a book that is mostly about the future but it tells some stories of the past because sometimes. It became less about the memoir more about the future and a little bit of a playbook in some respects about what is going to happen in future and whatever buddy should do to be part of that future. Then i become more interested. And then. Host so before you get to the substance of the book i want to spend a little bit of time on your background. One of the things i was happy about is your friend when i read the book as you did you do not want to write a memoir but but you give us a little bit of a glimpse into not only your background, high thought about the world as a young person and a young entrepreneur and obviously the good old days. You are from hawaii, born, born and raised and why, up until about eight years ago, you are probably one of the most famous people and probably up until eight years ago you are probably the most famous person from your high school. Guest i got elbowed aside, president obama and i went to the high school at the same time. It it was a great school, there is a hundred and 75th anniversary and i was a little older i still am a little older than the president , even with the dog years. Technically i am. I was a was a senior when he was a freshman. We actually did not have any classes together. But it was was only when he came to washington as a senator we Work Together on some entrepreneurship. No offense but. Guest why a pretty good run and people were wondering what was in the water back then. Its its a good start. Even a third way title, going back to our roots. You and the president must have a good friendship, youve done so many extraordinary things with him but youve also worked with president bush and president clinton, so Public Policy is been a big part of who you are, i want to come back to that cousin that is her audience but before we get too much further, what i liked about your book is when theres a big thing going on and theres really nothing bigger than the internet, you could could argue that it is the most important Economic Force, certainly of our time but may be of history, in terms of just a pure Economic Force which you not only ushered in the Internet Business model but also the internet into peoples homes. What great is about the book as you overlay an Analytical Framework as the framework as to how we should all think about this and you break it down into the first wave, the second wave in the third wave, so we should spend some time you just explaining that thesis to people and how you think about that. The first is building awareness of why you should get connected to the internet and building the on ramps and software, the on ramps and everything to get people connected. It seems obvious now but when we started in 95 only 3 of people were online and they are only online one hour per week. It took is really a decade before got traction. Guest for most of that decade people thought why would anybody want to do it, it was sort of a quirky thing, it was really hard to do, really expensive to do but when you were online there wasnt much to do there wasnt much content yet. So it took a while before i finally became ready for prime time. That was the first way. Building the internet. The second wave, the last 15 years is building on top, apps years is building on top, apps and services in google, facebook, twitter, basically the software riding on top of the internet. That has created an enormous opportunity and Iconic Companies in the second way. The third wave is going to be fundamentally different which is really integrating the internet in a much more seamless and pervasive ways in every aspect of our lives, how we stay healthy and how our kids learn and how we think about food or energy your investing money, very fundamental things that changed a little bit on the first and second wave but not that much, as people deal with Healthcare System for example when they get sick about the same its about the same, it just is not as precise. You can easily order a pizza on your phone or watch netflix but the fundamental things around things like health and education have not really change. And they are going to change a lot in this third way. But, i but, i think it is going to require a different mindset for the innovators whether be the start up entrepreneurs of the Bigger Companies understand what is happening and Everybody Needs to understand the definition of work is changed and is changing in the third way. The first wave is a building at the second is building on top in the third is integrating it throughout our lives. In the process disrupting some of the largest industry in the country and in the world. Its enormous opportunity for people to understand where the puck is going and can position themselves. In a way, in the third wave we stop thinking of companies as technology company. Exactly. And we just start thinking about technology as part of every company. So the basic tools that we all thought existed in business and became integrated become set. So now like aol, one of one of the great things about the book when you took aol public it has 30,000,000 revenues revenues and was worth about 70 million. Now, we have google, apple, facebook, amazon, and collectively these companies are probably worth 2 trillion. So if you just think about these waves that you are talking about what is really happens, but but in the third wave what youre kind of saying this therell be big Healthcare Companies and big Financial Service companies that will be enabled by technology in ways that we never imagined before is that kinda what youre thinking. Guest yes everything is like become basic. Its really internet enabled disruption and at some point not too distant future it will be taken for granted. Like we talk about electricity enabled, the internet is on a similar path. Right now we call it an evening at. Sometime well just call it male. Someday well call it commerce, were not there yet i think it will still take another ten or 20 years. On that path and the third wave is just the next wave of taking the eight the of the internet and shifting it to be in a Quirky Technology thing to being a fundamental part of everyday life. One of the things ive are always admired to see you strike me as a optimist and you think about the world. Thats how i always thought about it and you believe in momentum. When things get going you know capitalizing on the momentum. Theres a lot of debate about the Effect Technology has had on our world. Im of the view that is been enormously positive but in truth when you look at technological innovation, when you can bind it with global connection it has been a blessing but it has put pressure on, pressured us in terms of the anxiety in our lives and some have been disruptive so when you think about this, i know youre an optimist, why are you so positive about where this is going to take us. Its always everything is always positive and not very constructive. There are some positives as you mentioned in there some negative so how do you maximize . I think the internet has been enormous of empowering people all around the world. [inaudible] [inaudible] i remember in the summer we were in africa and visited kenya and things happening there in the remote villages because of the internet because of innovation around solar and other kinds of technology is incredibly empowering and liberating. But sometimes we are to connected, the good news is sometimes were hyper connected and sometimes its helpful to have a facetoface conversation. Technology has created a lot of jobs but it has as you mentioned hollowed out a lot of jobs. So how do you figure out innovations for the future to bring everybody along . One thing i was proud to be associated around Small Business in the report that came out was can start up save the American Dream . Some of that is democratizing information, i think think theres an opportunity to democratize access to entrepreneurs and the opportunity so everybody feels like they have a shot, right now not everybody does, people do feel left out and part of the reason i brought the butt was to lay out framework for everybody to think about how the world developing and what it might look like ten or 15 years from and what are some opportunities for your own kids that might help give you a better, brighter future. So. So you talk about healthcare, education, what are some of the examples are some of the areas that could be transformed by technology, it can really change how we are thinking about the problems that we see. Anytime an entrepreneur sees a problem they also see an opportunity so its a doubleedged sword. And education a lot of things have been done in the last few decades in terms of computers in classrooms and things like that but for the most part, im not a teachers but i talked to a lot of teachers and i will say the way that they are teaching is about the same that it was 20 years ago, yet there is some advancement in terms of more personalized adaptive approaches to learning, not all kids learn the same way, some take more time, some are visual learners so having the systems that can help customize learning a thing can be very important, having teachers with more of a sense of whats going on with individual students, where they really are struggling and where they will need more help so that is one example, its not just about software, its also about integrating it into a culture in partnership with teachers, with with schools. Its not just about new learning in the cloud in the internet, but how do you improve learning in the classroom. Theres been an Interesting Development healthcare on the wellness side things like the fitbit, and wearable devices that have gotten popular but for the most part the way people manage disease is much the same way particularly if his lifethreatening disease is not as precise as it needs to be, when people come there for Second Opinion on cancer in particular 25 of the time they change the opinion, so it suggested there needs to be more data, more pierce realized approaches to health and technology as part of that solution. Again its not just the engineer solving the problem. Hes partnering and figuring out ways to knit things together that can usher in an era of healthcare that is better outcome little more convenient and lower cost. Thats one of the things where you have added so much to the discussion theres two problems that we have, we have these discussions about business and the nonprofit section or the Public Sector working together, you have people come at this debate for them perspective that the private sector, in the case of technology, the technologists have it all figured out and were kind of on an island and we know whats best, its somewhat of an insular view of the world and then you have people who come at this from the perspective the government should be driving this. One of the things that i think has been important about your voice is that is been very balanced, one of the things he talk about in the book is how you there is a role for government and it is a positive role. But we have to be careful because government clearly can stifle motivation. An innovation. It can get in the way its too bureaucratic. Theres just not enough of those balanced voices particularly people have the Business Career that you have had advocating for that balance. So so what kind of brought you to that point. I actually lived in d. C. For a while and i think that helps understanding the people and is part of the reason why am more nonpartisan trying to Work Together because ive seen and worked with people over three decades and trying to get stuff done, its also just watching the evolution of the internet itself. And in Silicon Valley in particular that theyre kinda arrogant about like the government just screws everything up in the regulations are done in their slow innovation, sometimes that true and obviously there are things that government does that frustrate entrepreneurs with different regulations or investments. Something that we take seriously but the reality is, Silicon Valley would not exist if it were not for the government and neither with the internet. Governmentfunded darpa which judge greene broke up the phone company, my bell. People forget how big of a deal that was Congress Passed the telecom act and for the most part that first wave of the internet the government says were not quite sure how its going to work so lets take a handsoff approach to regulation. So we saw that develop and if you look at some of the Great Innovation that we all take for granted and things like gps, weather data, those are funded by the government. So there is a role for government. So. Com gets most of their information from their government. Ive been in conversations with people and they say we do not need the government involved in this business we have weather. Com, again, some people view this book. [inaudible] that were going to lose our way, were not guaranteed but understand that critics, cynics and people were frustrated, i understand that view, i view, i also think there is the other view which is as a think about important aspects of our life about making sure the food our kids eat at school is not going to make them sick or the drugs are parents take a second kill them, or even drones flying over the playground is not going to crash and her kids. People want the government to provide some basic rules of the road, and provide some basic safety and consistency at the same time they do not want the government to overreach and stifle innovation so howdy strike the right balance. We knew more people have your kind of entrepreneur background making those decisions whether being congress or the white house, it is important to strike that balance, i get frustrated when i hear either side, the technologist same government irrelevant or sane you cannot trust the market. Government needs to be more involved in stuff. The reality is theyre both important and they both need to Work Together and in a constructive way, listen and respect each other and figure out what the right pass forward. In some ways it should be obvious. Most things that are very large tend to be bureaucratic and not nimble. The government is really not nimble. It certainly democratic and conservative get the way. But there are things that are indispensable in the government has to do so when you touched on that in the book. You lay out while acknowledging because i dont want to provide fuel for the fire and people say are advocating in the book but were talking about smart government and on the philanthropic side of your life you get into some of that too, will get back to that because thats your other portfolio the work that you and jean do is really worldclass philanthropists. Welcome back to that. What he think really if you could get government to act against a couple of things and thinking about in contexts of the gridlock that has prevented us from doing anything will be the two or three things you think would be really important for the government to try to do and get right to try to ensure america relates to competitive advantage . Im worried about it. I have to remind myself that were in the free world now because of entrepreneurs. They let the world in the Industrial Revolution in technology revolution. We went from being the startup to leader of the free world. But but thats not guaranteed to continue. Other countries are figuring it ought and there is a secret sauce that is animated the secret. So you see countries investing to create the right kind of investment instead of the right kind of regulatory environment. Its a global battle. We sought 50 years ago as the globalization of capital, we saw the globalization of manufacture, and our c in the the globalization of innovation. I think the work that congress has done with the white house including the jobs ask that legalized crowdfunding is important because it levels the Playing Field for entrepreneurs who do not happen to have money or know people who have money. They can use the internet to raise capital and get started. The fcc for some initial rules in place but thats a step in the right direction. Another is to make sure this is an Election Year and a lot of cspan listeners have strong views on this on the issue of immigration has become hot and politicized. I understand that. But we cannot remain the most innovative world if we dont continue to win the global battle for talent. Figure out some path forward to make sure that is important. What i mention in the book is an entrepreneur started a company after graduating from college he wanted to stay in the United States but cannot get his visa extended so he basically had to go home to india. Now now that company has a 5000 employees and is worth 5 billion. And he wanted to do it here. His dream was to build it here. And i hear the stories all over the country. So regulations, how do do you figure out what the right regulations are to protect people but also enable innovation. There are some regulations that are making it harder for the innovator. Some regulations are designed to protect people and that is good. So howdy make sure you take a fresh look at this particularly in a world that is starting to converge and collide with some of these things are coming together. And thats what people dont understand but regulations. If someone is an entrepreneur a lot of people think Big Companies are hurt by these regulations, in fact they protect a lot of Big Companies. One of the things that makes it very hard for entrepreneurs to get it started and some of these. One of the things i realize i i start doing some of this policy work five or six years ago is that most people think about business in this way. You know Small Business is very important think of the fortune 500 companies varies important. But the job the job growth comes from the young, and each of them had different interest. They want to figure out ways to Access Capital and to survive so theres different mindsets in the business community. We need to be sensitive this creates the right environment. Im optimistic about it but people get complacent and that example that detroit was Silicon Valley years ago. The car was the hot technology. And then it lost its entrepreneurial mojo. And then they lost 50 or 60 of the population and then went bankrupt. It was Silicon Valley. And in cincinnati, nashville, kansas city, kansas city, new orleans, theyre just fighting their way back in there showing momentum around startup, if we get complacent its always can be of pioneering in a world that is globalizing and that is risk. Not just a playbook for peoples lives but we have to change our tune. Its an important point because people while on capitol hill and again as an entrepreneur what you just said is so true, they categories companies its Big Companies and Small Companies, and in truth, if you look at the data Big Companies as a group largely dont create groups and even though two thirds of the jobs are in Small Businesses which is why theyre important and why theyre not overregulated. As a group they dont actually create a lot of jobs. Its a Small Company from aol is an extreme example was 70 billion or 70 million and a decade later where the hundred 60 billion. But in my home state you have under armour a relatively Small Company selling a niche product, but the founder, the ceo kevin and you and i visited headquarters where did your tour , it takes off. Thousands of employees, and one those things take off, and they happen in cities all across the country. So what youre what youre doing which is important you mention the jobs act which you are huge instrumental force and getting past you did a lot of work on Immigration Reform for all the reasons you talked about. It used to be couple places where people wanted to be and theyre all in the United States, that wasnt true anymore theres all the fabulous cities around the world that capital, freemarket economies, so what did you learn from those experiences as it relates, a lot of our viewers here are caught up in this ideological debate that were caught up in and preventing things from getting done. They actually got some done with the jobs that, we havent gotten anything done with Immigration Reform but we move the ball a little bed until recently many been very been very much involved in that debate. Youve been a big voice from basic research, what if you learn from your experience trying to get stuff done in congress that is relevant for us to think about. Your kinda say that, i was playing a little bit of a role in the jobs that, ultimately it was the white house that did the work, i was more on the sidelines for one of the things i did learn was the merger with time warner which did not work out the way i was hoping. It comes comes down to people and relationships. Part of the challenge in washington is people are in their camps and not really talking to each other and not word really trusting each other. And theyre talking past each other. Figuring out some ways to focus on the fact to bring together coalitions that get things done is important. I consider myself a nonpartisan centrist which people on both sides sometimes view. Will you only get stuff done, came from eyes in this town is become a bad word i think its a good word its part of democracy. Nobody ever gets everything how do you thats just my bias. So i think it probably helps and i respect the fact that you are willing to jump into politics and take the lead on these issues. Id stayed out of politics trying to focus on the policy side and be in deliberately, not even bipartisan, nonpartisan. So i think hopefully both sides will have an interest in these issues and have something to add on some of the issues around but he doesnt have a political agenda i think that creates an environment where people will listen i think i learned that the hard way because sometimes what i thought were obvious ideas were not happening and i realize it was not about the idea is about the execution. Is a great Thomas Edison quote vision without educate is hallucination. Its like all white papers on proposal, but you cant figure out how to get it done and it cant get done unless you build a coalition of our people who understand the importance of the issue and are willing to come together to figure out a path forward. So that to me is the bias i have, im hopeful that once we get through this election cycle which has been kinda noisy that whatever the next president of the United States is and whoevers leading on the house side or senate side will be able to sit down and build that trust and outline some issues, not just these about innovation because i think it is important for creating more opportunity for people all across the country how we have that conversation and hopefully in january we will. I agree with you, because when you look at the hand that were dealt as a country in this still by far the best in the world. I think think the economy in my opinion is doing pretty well, you touched on the things we need to do, immigration, do more around research, ive been very active in infrastructure, it does take just a few things to get this country growing instead of two, two and and a half or same three, three and half which makes such a difference,. And we see some progress on the unemployment, it was 9 the growth rate was still little low, how do you get it to 34 makes a huge difference in terms of being able to invest in things that matter, but its not someone who is writing a spreadsheet, someone who who can really create an interesting product and strikes a cord and people are buying it and suddenly theres more growth in the economy and theres more taxes being paid, thats how this works, sometimes theres a disconnect from that reality. Its focusing on that core how do you remain the most innovative nation, we really are the pioneering startup nation. That is the mentality as opposed to the complacency that comes with success. One of the things youre doing is. Your doing things with Public Policy, but one of the things thats interesting is what youre doing with your rise. So i want you to talk about that. I think people have largely had a view if you look at the economic success in this country that its not only highly concentrated in a small number of people which actually they do exist but its also concentrated geographically and there certain regions, california, new york, d. C. Area, that have disproportionately and a fitted growth that we have had one of the things you try to do is find the next jobs, and a lot of places around the country that people dont think of his obvious places for entrepreneurship so talk a little bit about what youre doing there and where you see the opportunities. This is the thing where if we get this right other communities and even the atlantic magazine had a great cover piece by james who recently went around to 70 different large town small cities, and when i saw the piece of the first thing i did was think of your work and it was very optimistic. A lot of good things were happening in smaller cities, larger towns around the country that were not obvious, tell us about what youre doing there. Will the core idea great entrepreneurs are Building Great Companies all over the world for their Great Companies being built all over and a lot of Venture Capitalism is going there. Last year 70 of Venture Capitalism want to three states. But most of the Media Attention is on Silicon Valley and mustered the tension is on Silicon Valley. How much did Silicon Valley get in the pie . About half of all Venture Capital is california and overwhelmingly Northern California. It definitely has the lead. Its done a great job, but if you look at the arc of americas history, talk about detroit when detroit was Silicon ValleySilicon Valley work apple orchards, these things rise and fall, the agricultural revolution was in the middle of the country and to understand agriculture and some of the Great Innovations i guess theyre going to come from those places. Places like pittsburgh, the Steel Capital and theyre still living it. Carnegie mellon has the best robotic program, they put things and youre certain to see examples and i think it will accelerate, if we do help figure out how to get more visibility and drive more capital for these entrepreneurs they will create more jobs to lift up the communities. Its not just about anyone business, thats how do you create environment where innovation is more evenly dispersed around the country so people do not feel left out. So they feel like they can be part of this opportunity. Related to that is the idea of inclusive entrepreneurship. Last year 90 of our trip Venture Capitalism went to men. It doesnt reflect the distribution of ideas, theres a whole host of reasons, but at its core Venture Capital is a little bit of network and who you know and if you have that access you do and if you dont you dont. And thats white it so important , that is a game changer in terms of leveling the Playing Field, people have an opportunity to have their idea out there and its more democratized and more inclusive i think people of color are also disenfranchised, they dont have the same opportunities. For going to remain the most innovative nation we need everybodys idea and everybody to have a shot at the American Dream. Not just from investing entrepreneurs who went from stanford and palo alto, are engineers coming out of emma mit , although they do great things they deserve some support, its also people who are former teachers in new orleans were coming up with software are former farmers who understand what needs to change in farming or doctors at the Cleveland Clinic or the mayo clinic, those who have ideas on figuring out a better path forward on health. So im optimistic that it will be more inclusive, it has to be. Party your thesis is that it is now the internet of everything. So no matter weve seen the first wave was connecting people the second was kinda social and apps and now its basically taking every day aspects of our lives in things that we did not think were technology in their superficial orientation and empowering them and changing them that would argue that like the agriculture industry which is not by the way headquartered in Northern California its headquartered in the center of the United States. So they are to be the people, so the profile and you touch on this in your book and i think its an interesting point for policy leaders around the country, they suddenly have a stronger hand than they mightve thought because the extent that they have Traditional Industries as their economic roots as those industries transform with data, interconnection, they will have a comparative advantage is actually know something about the subject matter. If theyre agile, and they can innovate around their companies. Connect ideas. The first wave and secondly Big Companies were generally watching on the sidelines. Take for example one of the most Successful Companies would be air b b which came up with the new model for hospitality. It didnt exist ten years ago and were gonna create platforms to run out and on used room while it works, and now its worth 25 billion, more than hilton or marriott. And they dont own any hotel rooms, thats the kind of innovation that happened in the second wave, smooth innovators and engineers were creating a marketplace on the third wave is went to be this connection with Software Technology and other stuff. So figuring out if people are leaders in the core industries, they have an advantage if they figure out where the market is going and if they figure out how to create partnerships Big Companies will be more in the third way. And will need more government. I understand entrepreneurs dont want to hear but it will be because the sectors are regulated, the government is going to have a role in figuring out what the right rules of the road are. So its a different game. A different mindset. Americans with gray hair know have a little more of an advantage than they did in the first or second wave which was people and their grudges. The first and second were little different, because some of the dynamics the first wave around important of government policy and perseverance were not important in the second wave but were becoming a part in the third way. The phenomenon of the 22nd dorm which were great successes will be less common in the third way. There there probably will be someone older and someone will understand some of the dynamic in healthcare farming and its a balancing act one of the benefits of not knowing anything is that you can ask questions. But in some of these sectors if you dont know anything about teaching or of how farmers think you probably are not going to get the right answer. Probably the answer will come to people who are closer to the problem. So marrying those two will be important. Because enough and not so wedded to the past, the dog where they cant but bring people along with an understanding because those who figured out will be the big successes in the third way. Thats an interesting opportunity for some of these communities. What they should be excited about is sometimes it just takes one company, like i saw what happened because i was in business at the time in the d. C. Area, there were not many entrepreneurs here. Because of his government, elwell comes along and becomes this Breakout Company one or two companies can make a really big difference in terms of creating this ecosystem because people get these breakout evaluations are people and companies go from nothing to 20,000,000,000 dollars, people make a bunch a bunch of money and they go off and they start. Is like seattle when microsoft, a sudden baltimore thunder armor, its not just the jobs that are created by the company like an aol or under armour, we went from dozens to hundreds of thousands, is the tens of thousands maybe hundred thousands of jobs created because of that growth. In terms of jobs or people building homes, jobs for people in restaurants in the area so the community is growing its creating jobs in the community. So how do we unleash that in other parts of the countries of people really do have a sense that their community is on the rise as opposed to some of the cities where people go up there and parents tell them you should move away. Theres opportunity someplace else. I think think the third wave there will be a boomerang of talent were people want to come back to detroit new orleans, and to many other cities run the country. They want to raise their families there but they also want to have opportunity there. Because of some of the things that happened in the second wave, like crowdfunding and because the opportunity will create a partnership think youll see more of that happening in the third wave which will result in many of the cities that have been struggling. And theyll have that opportunity to come back. So you have this amazing career, but it started, i want to read a pretty short, i want to refer viewers your essay that you wrote when you apply to business schools. Its okay to say you werent accepted. I was rejected by every business school. This is what youre up. This is 1980. So that is 26 years ago. I firmly believe. 36 years ago. I finally believe that technological advances in communication are on the verge of significantly altering our way of life. Innovations in telecommunications, especially to a systems will result in Television Sets being an informational lifeline, newspapers, school, catalog, etc. Clearly this, et cetera. Clearly this live a drastic effect on ever devising, as well as changes in the number of ages and working habits of the u. S. Population. The new technology will fragment the home audience and allow advertisers and agencies to escape the rigidity of commercial formats and develop communication forms appropriate for target marketing. You finish that they so if you took out a few words in this essay, this couldve written by someone today, but you got rejected from harvard and stanford. I basically wrote a similar resume saying anyone could write that 36 years ago, i want to close with getting some of your advice with how entrepreneurs should think about the world, but before i do that, and to show that the world is not as linear as many people think youre right in essay like that, youre not exactly start a company thats worth 10,000,000,000 dollars in four days. So you so you write this essay out of college, you go to work at procter gamble, and then you get a job with the title that you say is the best title youve ever heard. So i did that for about a year,. So what i wanted to do when i graduated is just that, at the time the internet didnt exist yet p g in cincinnati they sent free samples of shampoo and the idea free suffer aol, do i think we may have overdone it, were basically bundling our pretrial with omaha steaks. But it worked, so we kept doing it. So we came and parked with the top down organization. So i thought it would be good, size only there for a few years i joined the company that immediately failed, i thought it was going to be a good idea was the next thing i found out it missed its mark, i found out week became cofounders of aol in 1985. Even there it took us a decade, one of the stories to me is that it requires perseverance, the idea of what i wanted to do which really inspired me and thankfully he was kind enough to read it in, it took ten or 15 years before the idea became real, you really want to revolutionize healthcare, it may help and in revolutionary ways, it will require a different a different mindset. You want to go quickly you can go long and if you want to go far you must go together. I think that really animates the third way. I i encourage our readers and viewers to read the book because its not only a great story of technology in the future but its also a great story perseverance and is again as a friend of so happy that he should that part of your life and did not get right to it. The story of of you coming to the company, having a bunch of failures, including a partnership with apple that you had not dissolved. They tour up the contract and we had to rename it america online. A most people wouldve objectively said that the end of the story. And then they decide not to go through. You endured about ten years of setbacks pioneering new markets, struggling to raise capital that in todays terms of what you read about in things getting done, and certain metal was created in doing that. The book book was a great lesson in leadership and perseverance, its not always easy. No i think its more common but most of those truly revolutionary things but it always seems impossible until it happens and then some of these challenges are going to be hard and frustrating and then we got a bunch of calls from our parents but i believe in that idea, and we stuck with it and work through the issues that were holding us back and eventually thats why i decided to write the book and i think those will be helpful by the innovators, such as the engineers, i think Everybody Needs to think about the future in a more optimistic way and how they can think about their own job where the definition of work has changed. Millions of people are now working for mobile companies in the same day of this gig economy, the nature of work has changed. Theres negatives negatives to that but that will continue to develop in the third way so how do you position yourself they say Wayne Gretzky was great because he didnt focus on where the puck was, the whole point of writing the book is for everybody to understand where the puck is going to maybe they can position themselves, their career and prepare their family for whats going to unfold in the next 15 or 20 years. I want you to close with your best piece of advice, youre thinking about entrepreneurs differently even probably with how you thought of your own entrepreneurship and when i got out of school i said i wanted to start a business and thats what i did,. But it is different today, i think fortunately entrepreneurs have much more of a social vision that there is a great convergence between Public Policy, social impact, so stewardship and entrepreneurship, your and your wife jean who is amazing have been leaders in this in your philanthropic arm with social Impact Investing and we think about in the same way with think about entrepreneurs should think more about net impact the net worth, or maybe the other way,. And i again the entrepreneurs of our generation i dont necessarily believe thought about it that way some did but its a big debate and the reason my i believe in you believe in the idea of Impact Investment is profit is important, turning to the shareholders dividend is important, but purpose is important too, and i think the next generation of entrepreneurs is going to be looking for the Purpose Driven Companies and and thats how healthcare lend themselves to that you see that with millennials they want to do business with companies that stand for something more than profit, they want Investment Companies to stand for something more than profit. I think a new generation of entrepreneurs and improve how her kids learn and the food we, things like that but at the core of it they also want to have this broader impact. They also want to have this broader purpose and thats what excites me about the future of america and the future of entrepreneurship as we level the Playing Field everybody has a shot and we think about important policy and we lean in the future, i think though the brightest days could be ahead. Im optimistic if we all rally together and the Big CompaniesWork Together with a Small Companies and people figure out how to make it inclusive so everybody has a shot at the American Dream, i think it could be awesome. Im hopeful that we can give people a sense of what is happening on the playbook of this next space. It thank you for being here, im so happy you told your story i encourage all of our viewers ready to read it. And to learn about what it means to be an entrepreneur in an to learn about how government and private sector Nonprofit Community can work Better Together to make our future brighter. Its important work. Thank you. Thank you i appreciate it. Cspan, created by america Cable Companies about you by Public Service by your cable or satellite provider. [inaudible] hello everyone, thanks for coming to tonights event. Event. Posted by politics and prose bookstore. We have been mainstay of the d. C. And cultural literary scene for around 30 years, its only in the last year or so that politics and prose has partnered with busboys and poets and taken over things here. Part of that is exciting more opportunities to bring books to others but also part of it is to host books like these to learn about Current Events in literature and enjoy Delicious Food and drink. Thank you for coming. If you if you have any questions about our events hop on over to the register, we also have a full calendar of events available here and at the register and at our website. A few quick things on protocol, since this is the era that we live in if you could silencer turn off your phone because cspan is here recording so that will have an uninterrupted experience with at a second thing mr. Clark has agreed to sign books which will be in that corner however we do ask that you purchase the book at the bookstore register which will be near the front, and the third thing mr. Clark has agreed to answer questions. Someone with the experience and knowledge is so valuable because hes a founder and still chairman of dbh china limited, which is a consultant company