It is a quote that received much attention again after it was shown in a tribute programme Lee Kuan Yew In His Own Words: Meritocracy.

The line about rainbows was delivered by Lee in a speech at the Singapore Press Club in 1996. The title of the speech was "Picking up the gauntlet: Will Singapore Survive Lee Kuan Yew?"

In the speech, Lee shared about his experiences building Singapore up since independence. He also touched upon why Singapore needed to be exceptional to survive.

He was also addressing the issue of how younger Singaporeans have become more focused on material gains, and bemoan the fact that they have missed the boat to get rich. Lee said that as long as young Singaporeans work hard and seize opportunities, they would be able to 'find a vein of gold and dig it out'.

He then said that not everything is about material gain. His speech then transitioned to how the meaning of the Pledge came about, he sounded a lot more emotional at this point. That's when the rainbow quote started. He meant to say that as long as young Singaporeans chased after the rainbow, aside from profits the ride would be joyous and exhilarating as well:

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For a longer speech, someone uploaded the full Lee Kuan Yew In His Own Words: Meritocracy on YouTube, the Press Club speech starts at the 22:00 mark:

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