William H. Gates III COL '77, LLD '07 Q&A | The Harvard Campaign Launch | Summary and Q&A

TL;DR

Bill Gates discusses his decision to drop out of Harvard and the impact it had on his life, as well as his transition from building Microsoft to focusing on philanthropy.

Transcript

[APPLAUSE] So Bill, thank you very much for doing this. You are very famous for, among other things, not having graduated from Harvard. Have you ever thought what you could have made of yourself had you actually-- actually stayed and got your degree? Well, two times ago, when I was last in this hall, I was giving a speech and Mark Zuckerberg was in... Read More

Key Insights

• 💦 Gates' decision to drop out of Harvard and start Microsoft was driven by his belief in the potential of the software industry.
• 🧑‍⚕️ The Gates Foundation focuses on global health and education because they believe these areas have the greatest inequities and offer the most potential for impact.
• 🧑‍⚕️ Gates' philanthropic work in global health has made significant progress in reducing childhood mortality rates and eradicating diseases.
• 🤔 Gates values the importance of long-term thinking and believes in the power of technology and innovation to drive positive change.

Questions & Answers

Q: What was the motivation behind dropping out of Harvard to start Microsoft?

Gates saw the potential of the emerging software industry and believed he could make a significant impact by starting a software company. He didn't want to miss out on the opportunity and decided to take the risk.

Q: How did Gates choose the focus areas for his philanthropy work?

Gates and his wife, Melinda, chose to focus on global health and education because they saw these areas as having the greatest inequities in the world. They believe that by addressing these issues, they can make a significant impact on improving lives.

Q: What is the goal of the Gates Foundation's work in global health?

The Gates Foundation aims to eradicate diseases such as polio, malaria, and measles. They have made significant progress in reducing childhood death rates and are working towards achieving long-lasting impact in health outcomes.

Q: How does Gates approach giving away his wealth to his children?

Gates has decided to give away the majority of his wealth to the Gates Foundation instead of his children. He believes that it is important for his children to work and make their own contributions to society. However, he also plans to leave them a modest inheritance.

Summary

In this video, Bill Gates discusses his experiences at Harvard, his time at Microsoft, and his philanthropic work at the Bill and Melinda Gates Foundation. He talks about why he dropped out of Harvard, the value of education, his relationship with Warren Buffett, and the focus areas of his foundation. He also discusses the importance of measurement in philanthropy and the future of the foundation.

Questions & Answers

Q: Did Bill Gates graduate from Harvard?

No, he dropped out after three years, but he did take a lot of courses and enjoyed his time there.

Q: What made Bill Gates decide to drop out of Harvard?

Gates dropped out because he felt that starting a company was urgent and that if he didn't do it right away, he would miss the opportunity.

Q: If Gates hadn't gotten into Harvard, do you think dropping out of Yale or Princeton would have been as valuable?

Gates believes that there is a prestige in turning down Harvard, and he did not have that because he dropped out. Dropping out of Yale or Princeton would not have had the same impact.

Q: Did Gates ever think about what question he got wrong on the SAT?

Gates only got one question wrong on the SAT, but it was actually on the verbal section. He got a high score the first time, but criticized his parents' vocabulary and took the test again to do better.

Q: What was Gates' experience at Harvard like?

Gates enjoyed his time at Harvard but felt that there were many brilliant people there and he didn't stand out. He decided to position himself as the person who never attended any class he was signed up for.

Q: Did Gates start out as a math major at Harvard?

Gates started out as a math major but realized that there were others better than him. He switched to applied math because it allowed him to access courses in other fields.

Q: How did Gates avoid taking venture capital money for Microsoft?

Gates and his partner, Paul Allen, were able to fund the company themselves because selling software in volume has favorable economics. They didn't have to build factories and were cash positive from the start.

Q: Did Gates ever consider licensing software from Apple?

Gates explains that in the early years of Apple, they did license their software to other companies. If Apple had continued licensing their software during the Mac era, it would have been good for Microsoft.

Q: How did Microsoft get the contract to provide software for IBM's PC?

IBM wanted to get into the PC market quickly and decided to use third parties for software. Microsoft wrote the software for the PC, but IBM didn't view it as important at the time.

Q: What was it like when Gates had to come to you to get money to bail out Apple?

Gates explains that he and Steve Jobs had a history of working closely together, and when Jobs returned to Apple, they made a deal quickly because they saw the potential in the company.

Q: When did Gates decide to retire from Microsoft and focus on philanthropy?

Gates made the decision to retire from Microsoft and focus on philanthropy when he felt that the foundation had the potential to make a unique impact and that he could spend more time on it.

Q: How did Gates and Warren Buffett become close friends?

Gates met Buffett at a party hosted by his mother and was immediately impressed by the questions Buffett asked about the computer and software industry. They have been close friends ever since.

Q: How does Gates measure the success of the money given away by his foundation?

Gates explains that the success of the money given away is measured differently depending on the problem. Some things, like reducing childhood mortality, can be accurately measured, while other complex problems require more subjective evaluation.

Q: How does Gates deal with the bureaucratic nature of his foundation?

Gates describes the foundation as being similar to Microsoft when it had around 1,000 employees. There is debate and discussion, but the organization is focused on specific missions and has specialized experts in various fields.

Q: How does Gates get access to government officials for his philanthropic work?

Gates explains that he has had good access to government officials because they recognize the potential impact of the foundation's work. He is able to discuss healthcare, education, and other issues with them.

Q: How does Gates teach his children about wealth and philanthropy?

Gates has told his children that the money will go to the foundation and not to them. He wants them to understand the value of contributing to society and working for their own success.

Q: How does Gates compare the intellectual and emotional excitement of building Microsoft to solving global problems?

Gates describes the excitement of building Microsoft when he was young and hands-on with coding. Now, his work at the foundation is similar in the sense of picking teams and making strategic decisions, but the specific problems are different.

Q: Why is Gates planning to terminate the foundation after 20 years?

Gates believes that the foundation's missions, such as reducing childhood deaths and improving education, can be achieved within the next 40-50 years. He wants current problems to be addressed by rich people who are alive at the time.

Q: How does Gates ensure that the money given away by the foundation is used effectively?

Gates explains that some things can be measured more easily, such as reducing childhood mortality and developing vaccines. Other areas, such as improving education, are more complex and require ongoing evaluation and adjustment.

Takeaways

Bill Gates discusses his time at Harvard, his experiences building Microsoft, and his work at the Bill and Melinda Gates Foundation. He emphasizes the importance of education, the value of measurement in philanthropy, and the need to address global health and education issues. Gates also talks about his relationship with Warren Buffett and the decision to give the majority of Buffett's fortune to the foundation. The foundation focuses on specific missions and uses its expertise to solve complex problems. Gates plans to terminate the foundation after 20 years, believing that the missions can be achieved within that timeframe. Overall, Gates's commitment to philanthropy and his efforts to tackle global challenges are inspirational for individuals and organizations alike.

Summary & Key Takeaways

• Gates dropped out of Harvard after three years because he saw an opportunity to start Microsoft and didn't want to miss out.

• He explains that he chose to focus on philanthropy and education because he believes these areas have the greatest potential to make a positive impact on the world.

• Gates discusses the importance of thinking long-term and prioritizing the most pressing global issues, such as eradicating diseases and improving education.