We have to get serious about living within our means.

If you depend on a single industry, if you don't continuously upgrade it, if that industry is not producing real wealth, if it's simply shuffling paper from here to here in a very efficient manner sometimes, that's not enough and that's not where you begin to get the rest of your jobs.

There's always a question when you invest. Are you too early, are you too late, or are you just right? And there was a lot of hype about life sciences, around the sequencing of the human genome and a lot of people concluded that's not really there. But by the way, there was a lot of hype around the digital revolution just about the time of 2000 and the human genome, and it turns out that some of the world's biggest, most powerful companies are the survivors post that crash.

Until African-Americans and Hispanics can get serious, not just about area studies, which are important, but also about science and technology, they're not going to generate that wealth and that job within those communities. And that has absolutely devastating consequences for the places where people live, for the jobs and for the wealth.

Anytime you bring a really powerful new technology to market there are multiple implications. You start changing the relative position of countries.

The definition of who's literate and who's not keeps changing. So, in Neanderthal times, if you painted on a cave wall, that was enough to transmit how you hunt, how you eat, how you cook, how you dress, and we can read about that.

If you don't have that science and technology and brains as an input, as you don't have in large parts of Latin America, if you don't focus your education on that, if you don't find your 10,000 best scientists, but you do find your 10,000 best soccer players, the consequences are, you become a World Cup Champion in Soccer, like Brazil, but you don't become Korea, which earned 1/5 of what a Mexican did in 1975 and today earns five times more.