Lawrence H. White talks about the importance of entrepreneurship and explains there are business and intellectual entrepreneurs like Steve Jobs and Manuel F. Ayau respectively. He comments that each type of entrepreneurs enables the other one as business entrepreneurs can innovate as long as there are scholars like Muso to defend their freedom to keep the profits they earn. And intellectual entrepreneurs can create the institutions to promote liberty with the donations made possible by the wealth created by competition among business entrepreneurs.

Finally, White encourages the distinguished graduates not to forget they are entrepreneurs in their lives and recommends them to be alert to the opportunities they have for them to profit themselves, their families and the people around them.