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Great to have you at the World Government
Summit.

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We have a full house ready to listen to your
thought about the world, about yourself,...

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You are a mentor, but today you are a mentor
for 4,000 people.

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Before we start our session, I would like
just to play a video, then I'll ask you a...

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I studied the 10 most powerful empires over
the last 500 years and the last 3 reserve...

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It took me through the rise and decline of
the Dutch Empire and the Gilder, the Briti...

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the rise and early decline in the United
States Empire and the Dollar,

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and the decline and rise of the Chinese
Empire and its currencies,

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as well as the rise and decline of the
Spanish, German, French, Indian, Japanese,...

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along with their significant conflicts, as
measured in this chart.

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To understand China's patterns better, I also
studied the rise and fall of Chinese...

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Because looking at all these measures at once
can be confusing, I'll focus on the four m...

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the Dutch, British, US and Chinese.

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You'll quickly notice the pattern.

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Now let's simplify the form a bit.

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As you can see, they transpired in
overlapping cycles that lasted about 250...

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Typically, these transitions have been
periods of great conflict because leading...

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So how am I measuring an empire's power?

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In this study, I used eight metrics.

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Each country's measure of total power is
derived by averaging them together.

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They are education, inventiveness and
technology development, competitiveness in...

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military strength, the power of their
financial center for capital markets, and ...

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Because these powers are measurable, we can
see how strong each country is now, was in...

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and whether they're rising or declining.

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By examining the sequences from many
countries, we can see how a typical cycle...

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And because the wiggles can be confusing, we
can simplify it a bit to focus on the patt...

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As you can see, better education typically
leads to increased innovation and technolo...

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You can also see that these forces then
declined in a similar order, reinforcing e...

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Let's now look at the typical sequence of
events going on inside a country that...

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In a nutshell, the big cycle typically begins
after a major conflict, often a war,...

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Because no one wants to challenge this power,
a period of peace and prosperity typically...

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As people get used to this peace and
prosperity, they increasingly bet on it...

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They borrow money to do that, which
eventually leads to a financial bubble.

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The empire's share of trade grows, and when
most transactions are conducted in its...

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At the same time, this increased prosperity
distributes wealth unevenly, so the wealth...

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Eventually, the financial bubble bursts,
which leads to the printing of money, an...

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This can happen peacefully or as a civil war.

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While the empire struggles with this internal
conflict, its power diminishes relative to...

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When a new rising power gets strong enough to
compete with the dominant power that is...

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Out of these internal and external wars come
new winners and losers.

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Then the winners get together to create the
New World Order, and the cycle begins again.

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Beautiful video, very short, insightful.

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And let me start by, in your book you talked
about five forces changing world order.

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What are they?

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Well, yeah, I learned in my lifetime, I'm a
practical guy who has to invest in the...

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I could tell you many stories like that.

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So there are three things that are happening
now in our lifetimes that didn't happen...

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And then there were two others I paid a lot
of attention to.

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So first, the amount of spending more than
we're earning, creating a lot of debt, and...

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What is the value of money?

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What is debt money?

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Okay, what do we use as money?

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How does that work?

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The second is the amount of internal conflict
between the left and the right, the rich a...

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By any of the measures, you can see I like to
use statistics, there's the greatest...

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Third is external conflict, the great power
conflict.

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In other words, when you have two great
empires, two or more, that are comparable ...

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Those didn't happen in our lifetimes, but
they happened before.

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Those three drew my attention.

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When I studied history, I also saw the fourth
really becoming apparent, which is acts of...

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Interesting, acts of nature, droughts,
floods, and pandemics have killed more peo...

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So I saw that.

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And then what was apparent, of course,
through technology is number five, which i...

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So those five factors, those five forces
drive just about everything.

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And so that's really my lens.

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And in order to see that, what is the rise
and decline of currencies and all of this ...

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But those are the five.

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You looked at the pattern of the past 500
years, the rise and fall of civilization,...

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where we know that we are in an interesting
time in human civilization.

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The world is changing.

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We live in the most exciting time.

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We know that the next 500 years will be
different.

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The money will be different.

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Technology will disrupt everything.

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Economy will be different.

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So can you predict the same pattern that will
happen?

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Whatever happened the past 500 years will
continue.

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I think I think we can understand through not
only seeing the patterns, but I think we k...

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And then again, what we don't know is much
greater than what we do know.

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But I do think like if we were looking at
today, we would say, of course, the financ...

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Income statement balance sheet.

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How are you doing?

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Productivity that matters.

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We do know that how we are with each other,
whether we're working well together and...

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we know those things matter.

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And you can measure those and you can see
those.

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We do know what the external conflicts are
like.

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We see it every day.

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You can measure it in numbers and so on.

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Those things are timeless and universal.

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We do know that acts of nature will continue.

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And we do know, I think, that the greatest
force of evolution through human...

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So we are at the brink of a new world in
which the technologies are going to radica...

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But we don't know how.

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So when I look at all those things, I think
we know what I just described.

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And then what we don't know is how we're
going to think in the future, how our mind...

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which we're going to see radical changes over
the next five years, over the next five...

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Five years.

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Five years.

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We're going to see it.

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Then if you take five years and you go to
ten, the world is going to change in all o...

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I think we know those things.

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Exactly how that's going to play out.

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No, no, no, I can't tell you.

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Let me talk about today.

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You've been talking about the United States,
China.

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Who is winning the race?

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Well, there are a lot of races going on.

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I'll call them wars.

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There's a trade war, a technology war.

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There's a geopolitical influence war.

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There's an economic and capital war.

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And there's a military war.

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We are in the first four of those wars and
we're at the brink of a military war.

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Brink doesn't mean that we're going to go
over the brink.

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Everybody, you know, hopefully we don't go
over the brink.

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But if we're taking those types of wars and
it depends on how long you want me to answ...

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But the charts that were shown.

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Don't worry about the chart.

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I run the chart.

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Trade war.

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China's winning the trade war.

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If you just take the numbers, the percentage
of world trade and dominance, the...

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It just had to express what it wanted and
other countries would respond and so on.

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Now you go from country to country and the
constant question I get is China or the...

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And the answer to that question typically
comes back.

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If it's economic, it's China.

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If it's military, the question is whether the
United States will be there when we need t...

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That's a most common answer across other
places.

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So there's a combination.

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So it's it's a heck of a competition.

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The technology war.

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Very interesting in many ways.

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They're going to be amazing technologies
developed by both places.

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And there's so you say in this way, the
United States is winning in that way and...

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And there's going to be those competitions.

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The real winners, by the way, I think, are
those who can tap into both and the unalig...

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If you take the capital war and the economic
war, it's again more China than the United...

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And also, we're seeing a change in now the
denomination of currencies, the trade and...

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We're beginning, which we didn't have before.

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We're beginning the internationalization of
the Remembe as part of a process.

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Still, it's but the United States is dominant
currently today in in that area.

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Then in terms of military war, that that
becomes an interesting question.

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It's a hell of a competition.

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Yes.

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Let me go to the United States.

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I'm going to ask the same thing.

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Same question about China.

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Is the threat.

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For your state, external or an internal
threat?

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The far greater threat is an internal threat
because basically.

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Be strong.

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If you're strong and you're healthy, then
you're going to be domestically and...

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And so what we have is a deterioration of
infrastructure, education, political...

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You know, you could see the changes in the
cities, New York, Chicago and places like...

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Opiate issues.

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A lot of those problems.

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How people are with each other.

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Is undermining the health.

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The United States.

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I was very lucky.

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I was born in 1949.

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Four years after the new world order began.

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And just the idea of that there was I was
raised by two parents who cared for me.

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I had public school education and I came out
to a country that was very, very poor.

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And that it has changed.

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And that is a factor.

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So it's most importantly how we all work
together.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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And I think that's the most important thing.

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Is China in a better shape for the same
question?

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Very similar questions.

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Very similar questions.

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You have two greatly different approaches to
the world.

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You have two greatly different approaches to
the world.

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So now, one great man, Wang Qishan is the
vice president of China,

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So now, one great man, Wang Qishan is the
vice president of China,

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a very objective man, described it
essentially,

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that the United States is a country of
individuals and individualism.

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that the United States is a country of
individuals and individualism.

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You had Elon Musk on before and so on.

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The individual, the power of the individual.

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And it's therefore bottom up.

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And then China is top down.

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And then China is top down.

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In other words, it's, and it's Confucian.

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And how each individual should relate to each
other.

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And then that gets manifest in how the
governance system

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And then that gets manifest in how the
governance system

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You know, how the Communist Party works,

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how the whole governance system, how the
media works,

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how information is controlled.

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You know, you have a different place.

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You have one place that's more anarchistic

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and, you know, creative and highly
disorderly.

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And so on.

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The other place which they're trying to
achieve the balance better,

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but it's really more top down.

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So those are two different approaches.

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And of course, we all around here, we go to
different variations.

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Every place has a different variation.

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So it's, you know, how that works out.

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We'll see.

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Where is India in your book?

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I mean, you talk China, United States, and
there is a huge country

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with tremendous wealth.

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Where is India?

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India is the country,

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from all of the statistics using 10-year
growth rates

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and also just what's apparent,

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India will have probably the greatest growth
rate,

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the fastest growth rate economically,

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have the greatest transformation of any
country.

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And I would say, like, if I was going to
paint the world,

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there is this great power conflict

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and lots of things going on that are great
and terrible

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in both China and the United States.

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And then there's the countries that are not
in that, the neutral countries.

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So here we are in the UAE.

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And you think about what's going on here and
in Saudi and so on.

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Or you go to Singapore and you look at what's
happening in the ASEAN countries,

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Indonesia, Vietnam, and so on, and you look
at India.

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It's an advantage through all history and
world wars.

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Those that have not been involved in the wars
and stand aside from the wars

239
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actually prosper from whatever conflicts
exist.

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So we're going to have different types of
wars between those two states,

241
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but India is going to be.

242
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Now, the dynamic of it is very interesting
because it's not really open.

243
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You know, it's dominated by a few families.

244
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It's not an easy place to get into.

245
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And, you know, capital markets haven't
developed to the extent that they should...

246
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They will develop, probably.

247
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So there's a great, great deal of potential.

248
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But actually, is there going to be that kind
of opening up

249
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that is going to create that kind of vibrancy
for us all?

250
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India will do great, I think.

251
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And then the question is, what does that mean
for the rest of us?

252
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Europe?

253
00:19:02,000 --> 00:19:08,000
Europe is, you know, a wonderful place to go
enjoy life.

254
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You know, it is beautiful.

255
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It's a beautiful, it's a, and then on the
other hand, you know,

256
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it's a collection of countries which are by
most measures economically,

257
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militarily, politically, trade-wise, and so
on, not competitive.

258
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It's old in terms, it doesn't have the
vibrancy.

259
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If you were to think about what is necessary
in terms of the technologies, let's say,

260
00:19:40,000 --> 00:19:45,000
only two areas now in the world, the United
States and China,

261
00:19:45,000 --> 00:19:48,000
in terms of going to really the scale of the
great technologies

262
00:19:48,000 --> 00:19:51,000
that we're talking about, having a
revolutionary thing.

263
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So it's a declining, it's not a powerful
place.

264
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Financially, it's got problems.

265
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Militarily, it's limited.

266
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It's highly fragmented.

267
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And it's a beautiful place to go visit.

268
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Thank you.

269
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We do, we do visit every summer there.

270
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Ray, I mean, let's move from the world to
you.

271
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What's your mission in life?

272
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I'm 73 years old, and I think there's a life
arc.

273
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I'm at the stage in my life arc where I'm
transitioning to my last stage in life.

274
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I think life has three stages, basically.

275
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First stage, you're dependent on others,
you're learning.

276
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Second stage, you're on your own, you're
independent.

277
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Others become dependent on you, and you're
trying to be successful.

278
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And then you go into the stage that I'm going
into, which I'm into,

279
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in which you transition.

280
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And the beauty is to see other people
successful without you,

281
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and just to pass along those things that
might be helpful for others.

282
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So that's the stage in life that I am.

283
00:21:04,000 --> 00:21:05,000
I'm going to do this.

284
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I have one more book to write, principles.

285
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I put their principles meaning things like
recipes,

286
00:21:13,000 --> 00:21:16,000
how to do this and that that I've learned,
and I want to pass those along.

287
00:21:16,000 --> 00:21:19,000
And by the way, I encourage everybody to do
that.

288
00:21:19,000 --> 00:21:23,000
I put out a journal to help everybody write
their own principles,

289
00:21:23,000 --> 00:21:27,000
because it's been an amazing experience for
me to do that.

290
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It's helped me.

291
00:21:28,000 --> 00:21:32,000
I convert the principles into algorithms that
help me make decisions,

292
00:21:32,000 --> 00:21:34,000
and everybody can do that.

293
00:21:34,000 --> 00:21:39,000
But anyway, I'm at that stage in my life
where that's what I want to do,

294
00:21:39,000 --> 00:21:40,000
pass that along.

295
00:21:40,000 --> 00:21:42,000
I'll do that probably until the next book
comes out,

296
00:21:42,000 --> 00:21:47,000
which would be Economic and Investment
Principles, and then I'll be done.

297
00:21:47,000 --> 00:21:54,000
If we have 150 government with us in the
World Government Summit,

298
00:21:54,000 --> 00:21:57,000
what's your advice to government?

299
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I mean, if you have a perfect model, how this
model should look like?

300
00:22:04,000 --> 00:22:12,000
I think the key question is whether man,
whether internally or externally,

301
00:22:12,000 --> 00:22:22,000
has the capacity to rise above oneself, to
look at what is the collective good,

302
00:22:22,000 --> 00:22:29,000
because there are win-win relationships and
there are lose-lose relationships.

303
00:22:29,000 --> 00:22:37,000
And so in history, that desire, I am going to
fight to keep my money

304
00:22:37,000 --> 00:22:43,000
or whatever it is, that produces outcomes
that are disastrous.

305
00:22:43,000 --> 00:22:50,000
And so can the evolution of that take place?

306
00:22:50,000 --> 00:22:55,000
I wouldn't be optimistic about that, but it
is the question of how we deal

307
00:22:55,000 --> 00:23:00,000
with each other is a fundamental question,
and who knows?

308
00:23:00,000 --> 00:23:04,000
So everybody's dealing with the issues I just
mentioned, the financial issue,

309
00:23:04,000 --> 00:23:09,000
the internal conflict issue, the external
conflict issue.

310
00:23:09,000 --> 00:23:11,000
I would say that when I look at countries and
I say,

311
00:23:11,000 --> 00:23:17,000
where do I want to invest or where do I even
want to be,

312
00:23:17,000 --> 00:23:22,000
there are those three things I look at.

313
00:23:22,000 --> 00:23:26,000
Is a good financial, is a place to have
financial resources to do things well?

314
00:23:26,000 --> 00:23:31,000
Is it going to be internal conflict or
external conflict?

315
00:23:31,000 --> 00:23:33,000
An external conflict.

316
00:23:33,000 --> 00:23:36,000
And then the technology and those types of
things.

317
00:23:36,000 --> 00:23:40,000
So I would say that the measures are all
there.

318
00:23:40,000 --> 00:23:44,000
In the book, I have 18 measures that are
measured statistically.

319
00:23:44,000 --> 00:23:46,000
They're a health index.

320
00:23:46,000 --> 00:23:51,000
You can look at that and that index is like
if you go into a doctor's office

321
00:23:51,000 --> 00:23:58,000
and you take all the checking your vitals,
those indexes, those indices,

322
00:23:58,000 --> 00:24:00,000
those measures are there.

323
00:24:00,000 --> 00:24:05,000
And if you make those good, you will have a
greater longevity and a greater

324
00:24:05,000 --> 00:24:07,000
prosperity.

325
00:24:07,000 --> 00:24:12,000
So when I think about that, I think they're
clear, what's health,

326
00:24:12,000 --> 00:24:18,000
and then also a paramount importance is can
we rise above that with existing

327
00:24:18,000 --> 00:24:22,000
self-discipline and discipline with how we're
dealing with others,

328
00:24:22,000 --> 00:24:24,000
that will be of paramount importance.

329
00:24:24,000 --> 00:24:25,000
Thank you.

330
00:24:25,000 --> 00:24:26,000
Thank you.

331
00:24:26,000 --> 00:24:27,000
We are running out of time.

332
00:24:27,000 --> 00:24:33,000
I would like just to capture the opportunity
and ask you just a quick

333
00:24:33,000 --> 00:24:37,000
answer, if you can.

334
00:24:37,000 --> 00:24:38,000
You meditate.

335
00:24:38,000 --> 00:24:39,000
I'm sorry?

336
00:24:39,000 --> 00:24:40,000
You meditate.

337
00:24:40,000 --> 00:24:41,000
Yes.

338
00:24:41,000 --> 00:24:43,000
Why and what do you do?

339
00:24:43,000 --> 00:24:51,000
Oh, I'd say transcendental meditation I've
done since 1969, however long that was.

340
00:24:51,000 --> 00:24:56,000
And it is more than anything else that it's
been the most fabulous thing.

341
00:24:56,000 --> 00:25:00,000
That and writing down principles and
converting them to algorithms are the main

342
00:25:00,000 --> 00:25:01,000
thing.

343
00:25:01,000 --> 00:25:02,000
Okay.

344
00:25:02,000 --> 00:25:07,000
It's meditation, the one I do, is a mantra.

345
00:25:07,000 --> 00:25:10,000
So it's a word that has no particular
meaning.

346
00:25:10,000 --> 00:25:13,000
A good example of that might be ohm.

347
00:25:13,000 --> 00:25:14,000
It's a sound.

348
00:25:14,000 --> 00:25:19,000
And you sit there quietly and repeat that in
your mind.

349
00:25:19,000 --> 00:25:25,000
And when you do that, your conscious thoughts
go away and you're in this ohm

350
00:25:25,000 --> 00:25:29,000
because when you're saying ohm to yourself,
you can't have those thoughts.

351
00:25:29,000 --> 00:25:31,000
And then that disappears.

352
00:25:31,000 --> 00:25:35,000
And when that disappears, you go into a
subconscious state.

353
00:25:35,000 --> 00:25:36,000
You're not conscious.

354
00:25:36,000 --> 00:25:37,000
You're not conscious.

355
00:25:37,000 --> 00:25:38,000
You're not unconscious.

356
00:25:38,000 --> 00:25:44,000
And from that subconscious state comes all
sorts of creativity.

357
00:25:44,000 --> 00:25:52,000
And also we're largely driven by our
subconscious more than our conscious.

358
00:25:52,000 --> 00:25:56,000
All the subconscious things that are going on
and create the motivations.

359
00:25:56,000 --> 00:25:59,000
And so it helps to align those two things.

360
00:25:59,000 --> 00:26:01,000
And it gives a peace.

361
00:26:01,000 --> 00:26:04,000
Twenty minutes of meditation is like three
hours of sleep.

362
00:26:04,000 --> 00:26:07,000
And it gives one an equanimity.

363
00:26:07,000 --> 00:26:12,000
It's like I think in like the ninja movies,
you know, they're fighting all fast.

364
00:26:12,000 --> 00:26:17,000
And then but then they put it into slow
motion because like the ninja for the ninja,

365
00:26:17,000 --> 00:26:21,000
it's just things coming at you and you deal
with those things.

366
00:26:21,000 --> 00:26:24,000
So that's what meditation is like.

367
00:26:24,000 --> 00:26:29,000
What is your biggest success in life?

368
00:26:29,000 --> 00:26:35,000
I suppose evolving and I hope contributing to
evolution.

369
00:26:35,000 --> 00:26:41,000
I think evolution is the only thing that's
permanent and is what we do.

370
00:26:41,000 --> 00:26:44,000
And we're all on a ride.

371
00:26:44,000 --> 00:26:49,000
And so I think that I've been on the ride.

372
00:26:49,000 --> 00:26:51,000
And so it's not money.

373
00:26:51,000 --> 00:26:55,000
It's not power, influence or anything.

374
00:26:55,000 --> 00:26:57,000
It's it's sad.

375
00:26:57,000 --> 00:27:00,000
And then I think it's reflected in my family.

376
00:27:00,000 --> 00:27:01,000
Those kinds of things.

377
00:27:01,000 --> 00:27:03,000
Did you had failure?

378
00:27:03,000 --> 00:27:04,000
Oh, lots of failures.

379
00:27:04,000 --> 00:27:07,000
The professional I'm a professional.

380
00:27:07,000 --> 00:27:10,000
What was the biggest failure?

381
00:27:10,000 --> 00:27:19,000
Well, I mean, one I remember is in 1982, this
changed my life.

382
00:27:19,000 --> 00:27:28,000
1982, I calculated that American banks had
let more money to foreign countries than...

383
00:27:28,000 --> 00:27:30,000
I thought there'd be a big debt crisis.

384
00:27:30,000 --> 00:27:33,000
I spoke openly about that.

385
00:27:33,000 --> 00:27:40,000
And then Mexico defaulted in August 1982 and
a number of countries started to default.

386
00:27:40,000 --> 00:27:46,000
And I thought that we were going to have a
terrible economic collapse, terrible...

387
00:27:46,000 --> 00:27:48,000
And I couldn't have been more wrong.

388
00:27:48,000 --> 00:27:51,000
It was the exact bottom in the stock market.

389
00:27:51,000 --> 00:27:56,000
August 1982, when Mexico defaulted, I lost
money for me.

390
00:27:56,000 --> 00:27:58,000
I lost money for my clients.

391
00:27:58,000 --> 00:28:05,000
I was so broke, I had to borrow four thousand
dollars for my dad to help to pay for fami...

392
00:28:05,000 --> 00:28:09,000
And that was changed my life.

393
00:28:09,000 --> 00:28:13,000
It I realized it first.

394
00:28:13,000 --> 00:28:16,000
It gave me the humility that I needed to deal
with my audacity.

395
00:28:16,000 --> 00:28:21,000
I knew that I didn't want to do this before
this anymore, but I didn't want to lose th...

396
00:28:21,000 --> 00:28:26,000
So what I did is I learned, OK, how can I get
the upside with that kind of risk?

397
00:28:26,000 --> 00:28:29,000
And I learned basically two things.

398
00:28:29,000 --> 00:28:36,000
First, to try to find the smartest people I
could who disagreed with me to try to stre...

399
00:28:36,000 --> 00:28:41,000
And because this trap, the power of great
triangulation is what I one of the things ...

400
00:28:41,000 --> 00:28:50,000
And then I learned how I could diversify my
portfolios and my decision making that in ...

401
00:28:50,000 --> 00:28:57,000
but would reduce my risk by 80 percent
because the power of diversification of...

402
00:28:57,000 --> 00:29:00,000
And that was that was the bottom.

403
00:29:00,000 --> 00:29:02,000
And then from there, that changed.

404
00:29:02,000 --> 00:29:15,000
And I really learned I have a principle,
which is pain plus reflection equals...

405
00:29:15,000 --> 00:29:22,000
And if you can reflect calmly on those
realities and think, how do I deal with...

406
00:29:22,000 --> 00:29:25,000
Well, that's and so on.

407
00:29:25,000 --> 00:29:29,000
Yeah, I think mistakes are a good thing.

408
00:29:29,000 --> 00:29:32,000
You know, learning experiences.

409
00:29:32,000 --> 00:29:36,000
Otherwise, you have successes and you know,
you don't change.

410
00:29:36,000 --> 00:29:40,000
If you'll give me three advice in life.

411
00:29:40,000 --> 00:29:42,000
Three advice in life.

412
00:29:42,000 --> 00:29:45,000
OK.

413
00:29:45,000 --> 00:29:48,000
First, know your nature.

414
00:29:48,000 --> 00:29:51,000
We each have a nature of those are the things
that.

415
00:29:51,000 --> 00:29:57,000
Those are the things that are our pulls, what
we tend to be inclined to do and so on.

416
00:29:57,000 --> 00:30:05,000
And I think life is a journey of knowing your
nature and finding the path for your nature.

417
00:30:05,000 --> 00:30:11,000
And then accept the fact that it's going to
be a ride and that through that, the ups a...

418
00:30:11,000 --> 00:30:13,000
That's your learning experience.

419
00:30:13,000 --> 00:30:14,000
That's your journey.

420
00:30:14,000 --> 00:30:18,000
And so I would say also be very related to
that.

421
00:30:18,000 --> 00:30:28,000
Number two is realize that whatever you know
is immaterial relative to what you don't...

422
00:30:28,000 --> 00:30:40,000
And so give yourself the power of great open
mindedness and also the power to diversify...

423
00:30:40,000 --> 00:30:43,000
You know, given that.

424
00:30:43,000 --> 00:30:44,000
Let's see. Number three.

425
00:30:44,000 --> 00:30:49,000
What would number three be?

426
00:30:49,000 --> 00:30:50,000
I don't know.

427
00:30:50,000 --> 00:30:52,000
Realize that.

428
00:30:52,000 --> 00:30:57,000
Realize that success is having a life that
you want to have.

429
00:30:57,000 --> 00:31:06,000
Don't look at the definition of success like
money, like money has no intrinsic value.

430
00:31:06,000 --> 00:31:10,000
Money only will get you what it buys.

431
00:31:10,000 --> 00:31:14,000
So think about what you want in terms of
truly those things.

432
00:31:14,000 --> 00:31:18,000
I think life is a matter of meaningful work
and meaningful relationships.

433
00:31:18,000 --> 00:31:27,000
If you have meaningful work and meaningful
relationships, most importantly, meaningfu...

434
00:31:27,000 --> 00:31:29,000
Those are the three that come to mind.

435
00:31:29,000 --> 00:31:34,000
Ray, thank you very much.

436
00:31:34,000 --> 00:31:37,000
It was very insightful for all of us.

437
00:31:37,000 --> 00:31:39,000
We started from the word.

438
00:31:39,000 --> 00:31:43,000
We ended up with you and I here in the stage.

439
00:31:43,000 --> 00:31:47,000
Mr. Dahlia will have a book signing outside.

440
00:31:47,000 --> 00:31:49,000
You can join us if you want.

441
00:31:49,000 --> 00:31:51,000
Once again, thank you very much.

442
00:31:51,000 --> 00:31:52,000
Thank you.

443
00:31:52,000 --> 00:31:53,000
Thank you.