New Year 2013 - Buffett, Robbins, Castro & Blakely on Optimism & Entrepreneurship

Panel discussion on optimism for 2013 after economic uncertainty. Buffett emphasizes America's proven track record since 1776. Robbins highlights geometric technology progress and fractionalizing costs - noting smartphones give people access to resources presidents didn't have 20 years ago. Points to Gates and Buffett using fortunes to solve hunger, disease, and education.

Sara Blakely explains how entrepreneurs shouldn't be paralyzed by economic uncertainty. She focuses on herself and her team rather than external conditions. Started Spanx right before 9/11 - didn't even know it was considered a 'horrible time' because she'd never taken a business class. Key insight: economy fluctuates but great products succeed regardless.

Julian Castro addresses concerns about government dysfunction post-contentious election. Argues most daily life impacts come from local government (police, firefighters, garbage, neighborhood quality) not Washington. Emphasizes citizens can actually impact local decisions where government functions well.

Discussion on whether 2013 is good time to start a business. Robbins and Blakely argue tough times create advantages: easier talent acquisition, conservative competitors, buyers seeking innovation. Fortune 1000 data: over half started in recession/depression (Microsoft, Apple, Pizza Hut, FedEx, Disney). Companies that survive hard times dominate when recovery comes. Buffett notes Goldman Sachs' 10,000 Small Businesses program as resource.

Buffett shares his first stock purchase in spring 1942, right after Pearl Harbor when America was 'getting clobbered every place' (Corregidor, Bataan Death March). Bought Berkshire Hathaway control in 1965. Reinforces message that great times to invest come during fear and uncertainty.