To launch Canva, we needed investment and a tech team. Finding the right people for both took two years but there is always a lot of rejection for entrepreneurs in their early days. But every time we got a hard question or a reason why people wouldn't invest, we stayed focused on what we could change. I revised our pitch deck after every meeting, more than 100 times in one year, to answer the questions or fix the reason for rejection from the last time. You just have to keep going. The normal thing to do after your 100th, 80th or even 20th ‘no’ would be to stop, but you just have to persevere.

When I lost that 100m final I spiralled. I went quite aggressive. It is an Adam I don't really recognise.

My first mistake, of course, was in buying control of Berkshire. Though I knew its business - textile manufacturing - to be unpromising, I was enticed to buy because the price looked cheap. Stock purchases of that kind had proved reasonably rewarding in my early years, though by the time Berkshire came along in 1965 I was becoming aware that the strategy was not ideal. If you buy a stock at a sufficiently low price, there will usually be some hiccup in the fortunes of the business that gives you a chance to unload at a decent profit, even though the long-term performance of the business may be terrible. I call this the "cigar butt" approach to investing. A cigar butt found on the street that has only one puff left in it may not offer much of a smoke, but the "bargain purchase" will make that puff all profit. Unless you are a liquidator, that kind of approach to buying businesses is foolish.

Well, maybe it was successful in the end. But, I mean, to get there - one of the things that I talk about is not to be afraid of failure because you're going to fail. And I was 19 years old. I was competing in the Mr. Universe contest, and I lost. I had movies that went in the toilet. I have had policy issues and referendums that went in front of the people that I lost. And, of course, in my personal life, you know, my marriage is a big loss. So there's a lot of losses and failures that I've had. And I think that it is important that we recognize that. But no matter what it is, I always had an exciting life and always chased something, and that made, to me, the whole thing worth it. I always felt I was enriched by the fact that I always knew where I was going. And then there were some things that were unexpected. Like, running for governor was something that kind of unfolded only because there was a recall election.

One of my favorite lessons is best summed up in the words of an old Athabascan Indian who told me, “There are many hard things in life, but there is only one sad thing, and that is giving up.”

But whenever you do find something — maybe it’s not as passionate for you as dog mushing has been for me — but the fact that you have any interest, that is what you should go with.