Courtesy of Admiral William McRaven William H. McRaven is a retired four-star admiral in the US Navy where he served for 37 years, former chancellor of the University of Texas system, and former foreign policy advisor to Presidents George W. Bush and Barack Obama. In his commencement address to MIT's class of 2020, he shared what he believes to be the most important qualities to nurture in today's world: courage, humility, perseverance, and compassion. McRaven said that above all, in order to be great and do your part to save the world, you have to be willing to sacrifice everything. Read the full transcript of McRaven's speech below. Visit Business Insider's homepage for more stories. Thank you very much for that kind introduction.