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Smart People Should Build Things

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"I wish this book and Venture for America had existed when I graduated from college and wanted to make the world a better place but didn't know where to turn. Smart People Should Build Things details how we can channel our top graduates into impactful entrepreneurial opportunities while addressing our economy's biggest problems."
-Dave Gilboa, cofounder and co-CEO of Warby Parker

Published in: Career, Business
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Smart People Should Build Things

  1. 1. Build a Path for Entrepreneurs, and Create New Jobs in America How to Restore Our Culture of Achievement,
  2. 2. We’ve got a PROBLEM right now.
  3. 3. Our smart people are doing the WRONG things.
  4. 4. If we can get them to do the RIGHT things, it will TRANSFORMTHE COUNTRY.
  5. 5. The majority of our TALENT is flowing to finance, consulting, and law… …and NOT ENOUGH to job-creating enterprises in our communities.
  6. 6. They’re going to BIG cities like NewYork Not to places that really NEED them
  7. 7. Major banks and consulting firms spend TENS OF MILLIONS each year recruiting at major college campuses.
  8. 8. From 2008–2013, more Harvard graduates went into finance, consulting, or law THAN ANY OTHER PATH.
  9. 9. 23%MED SCHOOL (12%); GRAD SCHOOL (7%);TEACH FOR AMERICA (4%) 13%UNDECIDED (13%) 21%MEDIA, ARTS, SPORTS, COMMUNICATION (11%); IT, INDUSTRY (10%) 36%FINANCE/BANKING (11%); MANAGEMENT CONSULTING (11%); LAW SCHOOL (14%) 7%NONPROFIT, GOVERNMENT, MILITARY (7%) WHERETHEY’RE GOING: ~1,630 Seniors
  10. 10. “If I go to career services, they’ll tell me straight out that THEY ONLY HAVE FINANCE AND CONSULTING JOBS for me to look at.”
  11. 11. It’s like we’re INVESTING in layers of frosting and NEGLECTING to bake the cake.
  12. 12. That means there ISN’T ENOUGHTALENT flowing to businesses that use these services.
  13. 13. Businesses that CREATE NEW JOBS
  14. 14. Businesses that BUILDTHRIVING COMMUNITIES
  15. 15. Businesses that CHANGETHE WORLD
  16. 16. So what is the result of this WAR FORTALENT?
  17. 17. Jacques-Philippe Piverger (MPOWERD) Anu Duggal (F Cubed) Miles Lasater (SeeClickFix) Jon Oringer (Shutterstock) Jen Medbery (Kickboard) Angus Davis (Swipely) The U.S. economy is currently NOT PRODUCING ENOUGH of its next generation of serial entrepreneurs.
  18. 18. If the U.S. had generated as many startups for 2009–12 as it had in 2007, the country would have produced 2.5 MILLION NEW JOBS.
  19. 19. We need to get our smart people BUILDINGTHINGS again.
  20. 20. BUILDINGTHINGS IS HARD.
  21. 21. Over FIFTY PERCENT of businesses FAIL in their first THREEYEARS.
  22. 22. I know this firsthand. My first company FAILED within the first two years.
  23. 23. But I OVERCAME the failure and became CEO of ManhattanGMAT and now FOUNDER of Venture for America.
  24. 24. I got to meet President Obama too. ->
  25. 25. I worked alongside a more EXPERIENCED ENTREPRENEUR.
  26. 26. I learned THREE important lessons about entrepreneurship.
  27. 27. 1. ENTREPRENEURSHIP IS A PROCESS
  28. 28. Like with everything else, you become a better entrepreneur OVERTIME.
  29. 29. Rovio Entertainment was around for six years and underwent layoffs before the “instant” success of ANGRY BIRDS.
  30. 30. BILL GATES cofounded a company called Traf-O-Data that lost thousands of dollars and shut down before he started Microsoft.
  31. 31. SAM WALTON’s first Arkansas store went under before he startedWalmart.
  32. 32. Entrepreneurs are forged through EXPERIENCE.
  33. 33. 2. ENTREPRENEURSHIP IS ABOUT PEOPLE AND ORGANIZATION BUILDING
  34. 34. Not just CREATIVITY or having a GOOD IDEA
  35. 35. There’s an aphorism that A people hire A’s B people hire C’s C people hire losers “SLOWTO HIRE, FASTTO FIRE” A common saying in the startup world…
  36. 36. You’re hiring someone not to do the job, but to do or INVENT A BIGGER JOB when the company expands. A common saying in the startup world… “SLOWTO HIRE, FASTTO FIRE”
  37. 37. Cultures get built from the BEGINNING, so whoever joins a company takes cues from whoever’s already there. “SLOWTO HIRE, FASTTO FIRE” A common saying in the startup world…
  38. 38. It’s much easier to build a WINNINGTEAM if the first few players are extraordinary.
  39. 39. “Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has.” –MARGARET MEAD Presidential Medal of Freedom recipient and cultural anthropologist
  40. 40. 3. ENTREPRENEURSHIP IS ABOUT VALUE CREATION
  41. 41. THE FUEL OF ECONOMIC GROWTH
  42. 42. Value creation leads to NEW BUSINESSES and JOBS.
  43. 43. Andera, a software company, EMPLOYS ALMOST 100 PEOPLE in Providence, RI.
  44. 44. Its founder, Charlie Kroll, wasn’t always set on becoming an ENTREPRENEUR.
  45. 45. In 2000, Charlie was a senior at Brown University and wanted to be an INVESTMENT BANKER. To his surprise, he didn’t get the position he wanted.
  46. 46. He recovered from his disappointment to START Andera, and the rest is history.
  47. 47. IMAGINE if Charlie’s story were the NORM rather than the exception.
  48. 48. HOW LONG would it take to generate THOUSANDS OF NEW JOBS, opportunities, and even industries?
  49. 49. What our country has been SEEKING a formula for VALUE CREATION =
  50. 50. How can we encourage our top people to TAKE RISKS and BUILD NEWTHINGS?
  51. 51. 7.5 A friend once told me about a PRINCETON GRADUATE named Cole.
  52. 52. Cole studied Math and went to work for a HEDGE FUND directly out of school.
  53. 53. At age 24, he makes well into SIX FIGURES.
  54. 54. By conventional measures, Cole has achieved the AMERICAN DREAM.
  55. 55. And yet, how excited are you about COLE’STRAJECTORY?
  56. 56. I’ll admit I’m NOTTOO PSYCHED either.
  57. 57. Now, imagine someone you think could take on RISK.
  58. 58. Someone WELL-EDUCATED, WELL-SUPPORTED, FREE OF OBLIGATIONS.
  59. 59. Someone like…
  60. 60. COLE!
  61. 61. If we can get smart hardworking people like Cole to build businesses around the country, our best and brightest will build ENGINES OF ECONOMIC GROWTH.
  62. 62. ?? But how?
  63. 63. I created an organization called to solve this problem.
  64. 64. We solve the problem in TWO ways.
  65. 65. 1. Help growth companies ACCESSTHETALENT they need to THRIVE AND EXPAND Venture for America Selection Day
  66. 66. Members of Venture for America Class of 2013 2.Train our best and brightest to become BUSINESS BUILDERS & ENTPREPRENEURS
  67. 67. We want to give rise to a virtuous cycle of INNOVATION BUSINESS BUILDING JOB CREATION
  68. 68. 100,000 NEW JOBS BY 2025. Our goal is to help create
  69. 69. Today,Venture for America is a multi-million dollar organization…
  70. 70. …with 108 Fellows…
  71. 71. …and 100+ more Fellows on the way…
  72. 72. Columbus, OH LasVegas, NV New Orleans, LA Providence, RIDetroit, MI Baltimore, MD Philadelphia, PA Cincinnati, OH Cleveland, OH Miami, FL San Antonio, TX St Louis, MO …working in startups in cities across the nation.
  73. 73. Let’s put people to work solving problems and building businesses.
  74. 74. Click me!
  75. 75. “Andrew is one of those rare visionaries who puts dreams into action.This book is a roadmap for young people in designing their careers, a playbook for policy makers for rebuilding our cities, and a path forward to moving entrepreneurship back to the center of theAmerican economy.” –ARIANNA HUFFINGTON Founder and Editor-in-Chief of the Huffington Post

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