Henry Kravis: Competition is not a zero-sum game

Kravis as long as you believe in your values, learning, and arrogance to fight, and enjoy sharing and feedback, your world will be better. As your alumni, I almost didn't graduate, and I just dropped out when I first entered Columbia University.　　Compared to you, I didn't have that much work experience, but I wanted to be an entrepreneur. My career plan was to run errands on Wall Street, to be an analyst, to start working with investors and to rush into business. I came to Columbia Business School to strengthen my financial skills. But many courses make me irritable.　　Fortunately, although I am young and conceited, I am mature enough to realize that I am not everything. I asked my father to say, "I want to be an entrepreneur rather than an executive." "He persuaded me to go on with my studies, and I am grateful for that advice," he said.　　When I graduated in 1969, I was more prepared than before to deal with future opportunities and challenges. Although the overall economy maintained healthy growth in the 1960 's, oil stocks began a 10-year stagnation in 1973-sluggish growth accompanied by high inflation and high unemployment, price controls, and so on. In this case, I and Korbog (Jeromekohlberg) and George Roberts (Georgeroberts) founded the KKR Group in 1976. In the short run, the stock market is like a polling machine, but it looks more like a weight scale in the long run.　　Analyze and study facts, not trends, and find opportunities to invest. Whether you choose to enter a commercial company, a non-profit organization or a government agency in the future, be passionate about your company. In the current economic environment, this is a little idealistic, because you all have to make money, or you can lend or help your family.　　But it's important to start working as soon as possible, gain experience, build connections for your goals, try to be the best and be the most hardworking person. In the current political and economic environment, you may find it difficult to justify business and capitalism when you enter a commercial company. But that's the problem for your generation, and you have to correct people's misconceptions about business and capitalism. You not only have to survive, but also to develop prosperity. Believe what you do!　　Defend Your worth! While it's important to stay focused, you need to be aware of the changes in your surroundings, including social, cultural, political, and economic. Continue to learn to prepare for change. Often dig deep, dare to question. Only through Google search is not enough, simply ask a friend or business partner is not enough. 35 years ago, when we set up KKR group, we jumped out of the mindset. It was initially rejected by many potential investors, but persisted. We think the "mindset" is powerful but can create new models.　　The results are not bad. In addition, a lot of times, the ability of success and genius can make people become superior, this kind of superiority will become complacent and arrogant. Think of the new entrepreneurs who have changed the business environment we didn't know 10 years ago about horsesKest Zackerberg (MARKZUCKERBRG) and Facebook exist. What about Google?　　What about Groupon? 10 years ago, Gaga and Rowling were not rich. Bric countries and emerging markets are not so hot. The world we live in is not static. You should be aware of the phenomenon of "not inventing here". You are not the only one with great ideas. In a highly competitive world, arrogance is fatal. But when it comes to competition, it's not a zero-sum game. Your success does not necessarily mean the failure of others.　　This is not a game, there must be a victory. When it comes to satisfaction, you can help others with time, ideas, moral support, or financial aid. "The Little Prince" in the Fox said: "Only rely on your mind to see the right, not in the eye." "Let it guide you. Teach handicapped children to read, help old people cross the road and get more people to higher education-this list can be very long.　　Providing help to others will make your life more complete and richer. Every one of you must make the world a better place in your own unique way. I believe that your world will be a better place as long as you believe in your values, your constant learning, your struggle with arrogance, and your willingness to share and reciprocate.