Most investors, of course, have not made the study of business prospects a priority in their lives. If wise, they will conclude that they do not know enough about specific businesses to predict their future earning power. I have good news for these non-professionals: The typical investor doesn't need this skill. ... The goal of the non-professional should not be to pick winners – neither he nor his "helpers" can do that – but should rather be to own a cross-section of businesses that in aggregate are bound to do well. A low-cost S&P 500 index fund will achieve this goal.

if there is anyone who’s telling you, “Here’s what you should do,” they are somehow lying to you

Don’t romanticise your “vocation”. You can either write good sentences or you can’t. There is no “writer’s lifestyle”. All that matters is what you leave on the page.

The second thing there was another thing I learned at Sequoia is that the culture of a business is built in the first six months by the first ten to 15 employees. These are magical, really, really important times. And I used to hear a lot even at Sequoia, a lot of entrepreneurs saying, “Hey, I'm too busy to think about culture. When we become a unicorn, when we grow, I'll worry about culture.” And for whoever has kids, it's almost like saying I'm too busy about educating my kids. When they turn 18, then I'll figure it out. Too late.

History was not written by men who predicted failure, who gave up their dreams, who abandoned their principles, who allowed their laziness to put their intelligence to sleep. If certain men at times were alone in seeking victory, they always had at their side the watchful spirit of their peoples, the faith and destiny of many generations.

My country is a country of teachers. It is therefore a country of peace. We discuss our successes and failures in complete freedom. Because our country is a country of teachers, we closed the army camps, and our children go with books under their arms, not with rifles on their shoulders. We believe in dialogue, in agreement, in reaching a consensus. We reject violence. Because my country is a country of teachers, we believe in convincing our opponents, not defeating them. We prefer raising the fallen to crushing them, because we believe that no one possesses the absolute truth.

Seeing the size of the challenge, no wonder many are prey to discouragement; or that apocalyptic prophets abound, announcing the failures of the fight against poverty, proclaiming the immediate fall of the democracies, forecasting the futility of peace-making efforts. I do not share this defeatism. I cannot accept to be realistic means to tolerate misery, violence and hate.