Don't Eat Fortune's Cookie

Summary

Speaking to graduating seniors, Lewis traces his own unlikely path from art history student to bond salesman to bestselling author and credits much of it to chance. He links that story to the lesson of Moneyball and to a psychology study about a spare cookie, arguing that fortunate people should recognize their luck and the responsibility it brings.

Key points

  • Lewis left Princeton with an art history degree and no clear sense of his market value.
  • A chance dinner seating led to a job at Salomon Brothers and his first book, Liar's Poker.
  • People tend to explain their success as inevitable and play down the role of accident.
  • Moneyball showed that even closely measured athletes were misvalued because luck was ignored.
  • In a Berkeley experiment, randomly chosen leaders took the extra cookie as if they had earned it.
  • Those who have been lucky owe something to people who have not.

Why practice this

Lewis writes in short, conversational sentences with self-deprecating jokes and quick pivots from anecdote to argument. Retyping this speech teaches comic timing, plain diction, and how a single concrete story can carry a moral point.

Practice an excerpt

These excerpts are short quotations for practice and commentary. All rights stay with the author; read the whole essay at the original source.

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I didn't need to think about it. I knew what intellectual passion felt like — because I'd felt it here, at Princeton — and I wanted to feel it again. I was 26 years old. Had I waited until I was 36, I would never have done it. I would have forgotten the feeling.
Life's outcomes, while not entirely random, have a huge amount of luck baked into them. Above all, recognize that if you have had success, you have also had luck — and with luck comes obligation. You owe a debt, and not just to your Gods. You owe a debt to the unlucky.
All of you have been faced with the extra cookie. All of you will be faced with many more of them. In time you will find it easy to assume that you deserve the extra cookie. For all I know, you may.

About this essay

Lewis's 2012 Princeton baccalaureate speech uses his own career and a cookie experiment to argue that success owes much to luck.

“Don't Eat Fortune's Cookie” was written by Michael Lewis. Read the original at princeton.edu. Copywork shows a summary and short excerpts for practice and commentary; all rights stay with the author.

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