Andrew Zago surveys the recent history of graduate thesis at SCI-Arc, discussing the recession, dissatisfaction with the state of the profession, and the energy and critical acumen of Jeffrey Kipnis, among other factors. He discusses quotations from Eliot, Kubler, and Rothko to define a way for students embarking on thesis to understand themselves and their relation to history and craft. Zago encourages the students to think of thesis not as their last project as students but their first as members of the discipline, and argues that what matters is maturity of thought and execution. He challenges students to “calibrate the real-ness” of their projects carefully, to maximize impact.