A few teachers have been using this speech in their classes for a while, and Kevin was kind enough to share his lesson plan with us. Kevin says:
This lesson based on Steve Jobs' commencement speech at Stanford University blends reading and listening skills and invites expansion in writing and speaking. It is for high-intermediate to advanced classes (4 and up, but can be adapted for use in 3 as well). Jobs offers his own life story as an example of risk-taking and the rewards of independent thinking. Students seeking challenges in New York respond with near-universal enthusiasm to his message: "Don't settle. Stay hungry. Stay foolish."
If you'd like to use this lesson, here are the materials. Kevin has prepared warmup, vocabulary, and note taking exercises.