[00:07.09]They had been poor themselves, and I have since been poor,
[00:11.17]and I quite agree with them that it is not an ennobling experience.
[00:16.45]Poverty entails fear, and stress, and sometimes depression;
[00:22.18]it means a thousand petty humiliations and hardships.
[00:26.19]Climbing out of poverty by your own efforts, that is indeed something on which to pride yourself,
[00:31.19]but poverty itself is romanticised only by fools.
[00:36.59]What I feared most for myself at your age was not poverty, but failure.
[00:43.25]At your age, in spite of a distinct lack of motivation at university,
[00:48.20]where I had spent far too long in the coffee bar writing stories,
[00:51.59]and far too little time at lectures, I had a knack for passing examinations,
[00:57.32]and that, for years, had been the measure of success in my life and that of my peers.
[01:04.55]I am not dull enough to suppose that because you are young,
[01:08.39]gifted and well-educated, you have never known hardship or heartbreak.
[01:16.02]Talent and intelligence never yet inoculated anyone against the caprice of the fates,
[01:22.24]and I do not for a moment suppose that everyone here has enjoyed an existence of unruffled privilege and contentment.
[01:30.44]However, the fact that you are graduating from Harvard suggests that you are not very well-acquainted with failure.