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Warren Buffett’s Advice To Jay-Z

In this interview from 2010, the world’s most famous investor chats with Jay Z and Steve Forbes about talent, success and building moats.

I was tagged by @hardboiledmeggs

List top 10 favorite characters not in order (one per series/fandom) and tag 10 people. 

  • Captain Holt (Brooklyn Nine-Nine)
  • Barry Goldberg (The Goldbergs) 
  • Tami Taylor (Friday Night Lights)
  • Sydney Bristow (Alias)
  • Steve Rogers (MCU)
  • Caroline Forbes (The Vampire Diaries)
  • Emily Gilmore (Gilmore Girls)
  • Anne Shirley (Anne of Green Gables)
  • Lucy Preston (Timeless)
  • Neal Caffrey (White Collar)

Not tagging anyone, but do this if you want to.

forbes.com
Billionaires To Graduates: All Time Best Advice From Their Commencement Speeches
Facebook COO Sheryl Sandberg is one of a handful of billionaires who have given a memorable commencement address over the years. Following are some of the most inspiring lessons to graduates from Oprah Winfrey, Elon Musk, Steve Jobs and others.
By Keren Blankfeld

Yes, you wish you had invested in the runaway Broadway hit musical Hamilton. With tickets sold out into next year, the show about one of America’s founding fathers and its first Treasury secretary turns a reported profit of $500,000 per week.


As Broadway investments go, Hamilton has been a dream. So dream a bit.


After all, the Tony Awards are coming on June 12, and Hamilton has copped 16 nominations. Just picture yourself as one of the 100 Hamilton investors, there on the red carpet for Broadway’s big night, outside the Beacon Theatre in New York, clad in an elegant tuxedo or gown, waving to the crowd massed behind the velvet ropes. You enter the theater and hobnob with the rich and famous. Then you congratulate the lead producer, Jeffrey Seller. Seller raised the $12.5 million needed from you and other investors to put on the now celebrated production. Seller, also the producer of the rock opera Rent and the puppet comedy Avenue Q, ensured that your $100,000 investment got paid back months ago and is now sending you fat checks.


As the ceremony begins, televised by CBS, you sit back in your seat, only a few rows from the stage, and congratulate yourself. The $70 million that Hamilton has grossed so far is projected to eventually swell to $1 billion, given its expected many-year run on Broadway, plus road shows around the U.S. and Britain. That’s a lush lifetime annuity for you.


Nice to dream, eh? Well, dream on.


Yes, successful plays typically return up to twice their investors’ principal. Extraordinarily successful musicals bring up to 10 times what backers put in. But the chances of your earning your investment back from a theater project — known as “recouping” — are slim, about one in five. The odds of winning a Tony Award? Steeper still.


In other words, it’s not so different from investing in technology startups, 90% of which fail but 10% of which soar to remarkable heights. If you’re serious about investing in Broadway, don’t go all in.


“You can’t make a living, but you can make a killing.” That’s what producer Steve Traxler says a wise Broadway veteran once told him. Megahits like Hamilton and The Lion King have returned their investors’ principal many times, while flops like The Retreat From Moscow returned a little bit but did not recoup. To win at this game, he explains, you need to be willing to stomach considerable risk.


Unlike a lot of investments, this one engages your heart. Underwriting a theatrical production provides what Traxler calls “psychic ROI.” Whether you back a box-office bonanza or not, the experience brings a lot of joy. Backstage chats with the actors, opening-night parties and the satisfaction of bringing a project you admire to life — these bring a return on investment that is not measured in cash.

Strategy Lessons From Bill Gates, Andy Grove, And Steve Jobs

What can we learn from these three tech pioneers about successful strategy?

1) Look Forward, Reason Back

2) Make Big Bets, Without Betting the Company

3) Build Platforms and Ecosystems—Not Just Products

4) Exploit Leverage and Power

5) Shape the Organization around Your Personal Anchor

Read more

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Mets Bucket Hat Guy Counting Down The Forbes Celebrity 100 with Steve Forbes

Mets Bucket Hat Guy (LNJF writer Mike DiCenzo) ventured out of the Late Night studio and over to Forbes to countdown the Forbes Celebrity 100 with Steve Forbes. Steve Forbes has got them skills too!

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Steve Forbes, speaks with Jessica Simpson, at the Forbes Women Summit.