Steve Ballmer returned to his alma mater of Harvard University to provide computer science students insights about what he learned over his career at the university that served him well going forward into his life as a high-ranking Microsoft exec, and then as the CEO of the Redmond-based tech giant.

In a ranging 45-minute lecture and Q&A session, Ballmer touched on a wide variety of topics, including the LA Clippers, how his career started at Microsoft, and his views on the ongoing debate over Net Neutrality. Here are some transcribed highlights (the full video is embedded above):

BallmerOn why ideas matter (minute 6:55):

“Now, people say ‘of course ideas matter.’ What kind of stupid life lesson is it that ideas matter? The truth of the matter is, this is both under and overappreciated. Most people think every idea is a good idea, as long as they had it. The truth of the matter is, not every idea is a good idea. Not every idea matters and not every idea should be pursued. And if you’re in a field like I am – or was – of innovation, not every idea is a good idea, even if it strikes you that way on first blush.

“In fact, most people are lucky to have one idea that really matters in their whole life. That’s not a criticism, but Earth-shattering, life changing ideas are very few and far between. Research insights, investment insights, innovations, a good idea needs to be cherished and nurtured.”

On the importance of storytelling (minute 14:48)

“Being able to tell a story, through your work, through your speech, through your writing, is so important. You want a grant application? You better tell your story. You want your startup idea funded? You better tell your story. You want to be the top engineer on the team who’s compelling vision about where the product should go? You better be able to tell a story. And in general, I don’t think people come out of school well-versed in storytelling.”

Steve Ballmer and Bill Gates at the 2006 news conference announcing Gates' retirement plans. Robert Sorbo/Microsoft
Steve Ballmer and Bill Gates at the 2006 news conference announcing Gates’ retirement plans. Robert Sorbo/Microsoft

On how Bill Gates convinced him to drop out of Stanford Business School and join Microsoft (minute 26:44):

“Okay, it’s 1980, I’m at Stanford Business School finishing up my first year, and Bill Gates calls as I’m trying to decide what to do for a summer job. He says:

“‘Hey, look, how are things, yeah, yeah, oh you’re not finished (with school) yet. Yeah, too bad you don’t have a twin. We could kinda use a business person around here.’

“That was the pitch. I thought about it, and I said, ‘Well, shoot. I guess I could tell him.’ So I call back the next day and said: ‘well, maybe we should talk. We should talk.’

“And, my instincts were actually right. The most risk-free decision you’ll ever make is the decision to drop out of college. Do you know why? I say that for a reason: colleges let you drop back in.”

On Net Neutrality (31:07):

“What is net neutrality about? I’m not quite sure. But it’s not necessarily about keeping down the price of internet access. Competition keeps down the price of internet access. Net neutrality is merely deciding who’s going to pay. If the providers who are making money on the internet, the Googles the Netflixes, the Clippers – for example, if we were to go over the top with the Clippers broadcast, we too would be a broadband content provider, we’re looking at that at the Clippers.

“But what it does, by saying you can’t differentially charge for the traffic, what it says is all consumers should pay a higher price for the people who need the services that actually cost more. So if you watch Netflix there’s two approaches: you can tell your neighbor who doesn’t watch Netflix, ‘hah hah hah hah hah, you pay more even though you don’t watch Netflix and I do,’ or you can let the market compete and differentially price.

“I think we’re going to get better service, more pricing options and a better overall deal by having competition between broadband providers than by regulating the price. So this, to me, is not about low prices versus high prices, it’s about letting free enterprise solve the problem, versus thinking a few thinkers in (Washington) D.C. can invent complicated pricing and tariffing schemes that are superior in creating opportunity than the market.

“Ultimately, what we really want is more investment in broadband infrastructure that leads to better service at lower prices. I’m with you on that, I’m 100 percent in on that.”

On the Xbox, and where it sits among the favorite products he worked on at Microsoft (46:15):

“You know, my fifteen-year-old still believes that’s the only worthwhile piece of work I did in my working career. Two weeks ago, three weeks ago, he says, ‘Dad, I’m really very disappointed in you leaving Microsoft.’ I was worried about this.

“He said: ‘I don’t know whether you could still get the new Halos when they come out.’”

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