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Explore the concept of Ricci solitons and their significance in the study of Ricci flow in this comprehensive lecture. Delve into the aspects of linear stability and instability of compact shrinking Ricci solitons, including positive Einstein manifolds. Learn about the introduction of Ricci solitons by R. Hamilton in the mid-80s and their role as self-similar solutions to the Ricci flow. Understand how compact shrinking Ricci solitons serve as critical points of Perelman's ν-entropy. Discover open problems in the field and gain insights from the speaker's joint work with Meng Zhu, Chenxu He, and earlier collaborations with Richard Hamilton and Tom Ilmanen.