Young Entrepreneurs Quotes

The lesson here is very simple. But it is striking how often it is overlooked. We are so caught in the myths of the best and the brightest and the self-made that we think outliers spring naturally from the earth. We look at the young Bill Gates and marvel that our world allowed that thirteen-year-old to become a fabulously successful entrepreneur. But that's the wrong lesson. Our world only allowed one thirteen-year-old unlimited access to a time sharing terminal in 1968. If a million teenagers had been given the same opportunity, how many more Microsofts would we have today?

The road of life is strewn with the bodies of promising people. People who show promise, yet lack the confidence to act. People who make promises they are unable to keep. People who promise to do tomorrow what they could do today. Promising young stars, athletes, entrepreneurs who wait for promises to come true. Promise without a goal and a plan is like a barren cow. You know what she could do if she could do it, but she can't. Turn your promise into a plan. Make no promise for tomorrow if you are able to keep it today. And if someone calls you promising, know that you are not doing enough today.

Philanthropist is the thought which should be followed by the world.

I’m encouraging young people to become social business entrepreneurs and contribute to the world, rather than just making money. Making money is no fun. Contributing to and changing the world is a lot more fun.

God, how I wish I could relive the whole thing. Short of that, I'd like to share the experience, the ups and downs, so some young man or woman, somewhere, going through the same trials and ordeals, might be inspired or comforted. Or warned. Some young entrepreneur, maybe, some athlete or painter or novelist, might press on. It's all the same drive. The same dream. It would be nice to help them avoid the typical discouragements. I'd tell them to hit pause, think long and hard about how they want to spend their time, and with whom they want to spend it for the next forty years. I'd tell men and women in their midtwenties not to settle for a job or a profession or even a career. Seek a calling. Even if you don't know what that means, seek it. If you're following your calling, the fatigue will be easier to bear, the disappointments will be fuel, the highs will be like nothing you've ever felt. I'd like to warn the best of them, the iconoclasts, the innovators, the rebels, that they will always have a bull's-eye on their backs. The better they get, the bigger the bull's-eye. It's not one man's opinion; it's a law of nature.

The first - the most obvious (test of a true social entrepreneur) - is are they possessed, really possessed by an idea... The idea - making it happen across society - is something they are married to in the full sense of the word. One key test of that is this: Is this an idea that you see growing out of their whole life? I get very, very suspicious when I see someone who had an idea two years ago. It just doesn't ring true. Because with the typical entrepreneur you can see the roots of the interest when they're very young. There's a real coherence to people's lives.

One highly successful venture capitalist who is regularly pitched by young entrepreneurs told me how frustrated he is by his colleagues’ failure to distinguish between good presentation skills and true leadership ability. “I worry that there are people who are put in positions of authority because they’re good talkers, but they don’t have good ideas,” he said. “It’s so easy to confuse schmoozing ability with talent.

Angels also often want to contribute more than money to a young company. Angels have the experience, and inclination, to be great mentors and valuable directors.

A well-dressed, self-assured business executive steps into a quiet corner of the conference room, crowded with people. Everyone there is aware of her presence. She's dark-haired, petite, and alluring. She is quick to smile, and when she does, her whole face lights up. Her enthusiasm is infectious. Young men and women nod as they pass by, briefly breaking off their conversations with colleagues. The executive looks down at her compact electronic device and quickly texts: "Smile. Talk into the mic. Good luck.

He saw something more in those eyes. The emotion wasn't nakedly apparent, but Mr. Cawley was a professional at reading the subtleties of people. The elderly and wildly successful credit card magnate believed that certain human frailties could actually help fuel success. Insecurity drove billionaire entrepreneurs. Emotional instability made for superb art. The need for attention built great political leaders. But anger, in his experience, led only to inertia.

The exponential growth of this industry was correlated with the phenomenon famously discovered by Moore, who in 1965 drew a graph of the speed of integrated circuits, based on the number of transistors that could be placed on a chip, and showed that it doubled about every two years, a trajectory that could be expected to continue. This was reaffirmed in 1971, when Intel was able to etch a complete central processing unit onto one chip, the Intel 4004, which was dubbed a “microprocessor.” Moore’s Law has held generally true to this day, and its reliable projection of performance to price allowed two generations of young entrepreneurs, including Steve Jobs and Bill Gates, to create cost projections for their forward-leaning products.

The sense of possibility so necessary for success comes not just from inside us or from our parents. It comes from our time: from the particular opportunities that our particular place in history presents us with. For a young would-be lawyer, being born in the early 1930's was a magic time, just as being born in 1955 was for a software programmer, or being born in 1835 was for an entrepreneur.

Some notion of how shrewd they could be is perhaps revealed in the fact that they never tried to hoard a majority of the stock, but used it instead as a tool for growth. Many young entrepreneurs, confusing ownership with control, can’t bring themselves to do this.

when the Vietnamese came to the United States they often faced prejudice from everyone—White, Black, and Hispanics. But they didn’t beg for handouts and often took the lowest jobs offered. Even well-educated individuals didn’t mind sweeping floors if it was a paying job. Today many of these same Vietnamese are property owners and entrepreneurs. That’s the message I try to get across to the young people. The same opportunities are there, but we can’t start out as vice president of the company. Even if we landed such a position, it wouldn’t do us any good anyway because we wouldn’t know how to do our work. It’s better to start where we can fit in and then work our way up.

a warning to young entrepreneurs: take money from a venture capitalist, and you’ll end up working for some smug, sarcastic, know-it-all prick like this guy, who will constantly tell you that you’re not working hard enough while he spends his days getting into arguments on Twitter.

Buying market share by hiring your competitors’ salespeople does nothing good for your reputation in the industry. Maybe you don’t care when you’re young and brash, but eventually you learn that reputation is a crucial business asset, worth much more over the long run than a few extra sales.

Network = Net Worth Your network: That is the #1 key to success. You become the sum of the five people with whom you spend the most time. If you don’t walk away from a conversation feeling bigger or more empowered, then you need to hang around with some new folks. That’s the #1 mistake that young people make. They hang around with the wrong crowd for the wrong set of reasons, and they end up living a smaller life because the people they are around do not think big thoughts. –David Wood

The Kochs were also directing millions of dollars into online education, and into teaching high school students, through a nonprofit that Charles devised called the Young Entrepreneurs Academy. The financially pressed Topeka school system, for instance, signed an agreement with the organization which taught students that, among other things, Franklin Roosevelt didn’t alleviate the Depression, minimum wage laws and public assistance hurt the poor, lower pay for women was not discriminatory, and the government, rather than business, caused the 2008 recession. The program, which was aimed at low-income areas, also paid students to take additional courses online.

Snapchat is a gold mine of opportunity for any team that wants to create real relationships and build loyalty with its young fans.

According to kensi gounden, these are the success tips for young and Aspiring Entrepreneurs #1- Step back, change your setting #2- Surround Yourself with Thinkers

An entrepreneur can make money out of nothing.

Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young.” –Henry Ford

Dream big, ideate karo, there are people with funds, funds is never a challenge.

A good idea is like a magnet, which will attract the right investor.

Chris has turned out to be a revolutionary leader who started businesses for the first time of its kind that influenced the nation’s young blood and across the world.

Tricks of the trade are not taught in a classroom, but through hard-learnt, hard-earned experience.

If you are not embarrassed or ashamed of your first version then you are shipping too late’.

I am the captain of my fate, master of my soul, boss of my dreams, and king of my goals

One highly successful venture capitalist who is regularly pitched by young entrepreneurs told me how frustrated he is by his colleagues’ failure to distinguish between good presentation skills and true leadership ability. “I worry that there are people who are put in positions of authority because they’re good talkers, but they don’t have good ideas,” he said.

I recommend every young entrepreneur do some gig work at least for research purposes. Get out there and work for Lyft or Uber or Instacart or whatever. These platforms allow a person to experience a direct conversion of value created to income earned, whereas most jobs and most entrepreneurial ventures have a lag. And the more intimately you understand value, the better.

Help young people. Help small guys. Because small guys will be big. Young people will have the seeds you bury in their minds, and when they grow up, they will change the world.” – Jack Ma

The lesson here is very simple. But it is striking how often it is overlooked. We are so caught in the myths of the best and the brightest and the self-made that we think outliers spring naturally from the earth. We look at the young Bill Gates and marvel that our world allowed that thirteen-year-old to become a fabulously successful entrepreneur. But that’s the wrong lesson. Our world only allowed one thirteen-year-old unlimited access to a time-sharing terminal in 1968. If a million teenagers had been given the same opportunity, how many more Microsofts would we have today? To

Chris Salamone has create and develop educational and leadership development programs for our nation's youth and young adults that have provided many opportunities for students to grow and develop.

Thinking outside the box only works if you know everything inside it. Don’t compare your chapter 1 to someone else’s chapter 20. That’s the biggest mistake young entrepreneurs do and end up getting disappointed. The ones you call conventional are the business models, which have been optimized and modified at various stages over a long period of time. You need to work hard and be a bit more patient.

A real writer (or artist or entrepreneur) has something to give. She has lived enough and suffered enough and thought deeply enough about her experience to be able to process it into something that is of value to others, even if only as entertainment. A fake writer (or artist or entrepreneur) is just trying to draw attention to himself. The word “fake” may be too unkind. Let’s say “young” or “evolving.

We live in a time when lots of people want to be famous. It’s particularly a problem with young entrepreneurs. Fame has become a toxic desire for many people. Because fame is worthless unless it is a tool to glorify God. And even in the marketplace, what matters most is your ability to add value to other peoples lives. It’s about service through adding value. And the best form of payment for that is money, not fame. So a lot of people need to really forget about fame and instead focus on value.

But it is smarter to see these expectations as signals that the workplace has failed to create the satisfying feedback loops that have multiplied in other aspects of our lives. Research from the Young Entrepreneur Council shows that 80 percent of millennials would prefer to get feedback in “real time.” A 2014 Millennial Impact Report showed that “more than half (53%) of respondents said having their passions and talents recognized and addressed is their top reason for remaining at their current company.

In India, if you want a successful company, you have to give at least 75% of your time to sales. When I say sales, I mean ‘face to face’ meetings. Look at Justdial, Naukri or Zomato – they have all made money through feet on street. Stay grounded and stay focused, automatically, success will come to you.

One highly successful venture capitalist who is regularly pitched by young entrepreneurs told me how frustrated he is by his colleagues’ failure to distinguish between good presentation skills and true leadership ability. “I worry that there are people who are put in positions of authority because they’re good talkers, but they don’t have good ideas,” he said. “It’s so easy to confuse schmoozing ability with talent. Someone seems like a good presenter, easy to get along with, and those traits are rewarded. Well, why is that? They’re valuable traits, but we put too much of a premium on presenting and not enough on substance and critical thinking.

What distinguishes the successful entrepreneur and promoter from other people is precisely the fact that he does not let himself be guided by what was and is, but arranges his affairs on the ground of his opinion about the future. He sees the past and the present as other people do; but he judges the future in a different way

Finally, when young people who “want to help mankind” come to me asking, “What should I do? I want to reduce poverty, save the world,” and similar noble aspirations at the macro-level, my suggestion is: 1) Never engage in virtue signaling; 2) Never engage in rent-seeking; 3) You must start a business. Put yourself on the line, start a business. Yes, take risk, and if you get rich (which is optional), spend your money generously on others. We need people to take (bounded) risks. The entire idea is to move the descendants of Homo sapiens away from the macro, away from abstract universal aims, away from the kind of social engineering that brings tail risks to society. Doing business will always help (because it brings about economic activity without large-scale risky changes in the economy); institutions (like the aid industry) may help, but they are equally likely to harm (I am being optimistic; I am certain that except for a few most do end up harming). Courage (risk taking) is the highest virtue. We need entrepreneurs.

The exponential growth of this industry was correlated with the phenomenon famously discovered by Moore, who in 1965 drew a graph of the speed of integrated circuits, based on the number of transistors that could be placed on a chip, and showed that it doubled about every two years, a trajectory that could be expected to continue. This was reaffirmed in 1971, when Intel was able to etch a complete central processing unit onto one chip, the Intel 4004, which was dubbed a “microprocessor.”Moore’s Law has held generally true to this day, and its reliable projection of performance to price allowed two generations of young entrepreneurs, including Steve Jobs and Bill Gates, to create cost projections for their forward- leaning products.

The exponential growth of this industry was correlated with the phenomenon famously discovered by Moore, who in 1965 drew a graph of the speed of integrated circuits, based on the number of transistors that could be placed on a chip, and showed that it doubled about every two years, a trajectory that could be expected to continue. This was reaffirmed in 1971, when Intel was able to etch a complete central processing unit onto one chip, the Intel 4004, which was dubbed a “microprocessor.” Moore’s Law has held generally true to this day, and its reliable projection of performance to price allowed two generations of young entrepreneurs, including Steve Jobs and Bill Gates, to create cost projections for their forward-leaning products. The

Young, lavishly bearded tech entrepreneurs were trudging forlornly down the hallways, laden with computers, printers, high-end coffeemakers, and foosball tables. Like digital Okies they loaded their stuff into their Scions or Ryder trucks and rumbled off into the unforgiving Boston commercial real estate market. “So you’re going to, uh, remove basically the entire floor of the conference room?

Unlike his sometime rival Tariq Ramadan, who’d been tainted by his old Trotskyite connections, Ben Abbes had kept his distance from the anticapitalist left. He understood that the pro-growth right had won the “war of ideas,” that young people today had become entrepreneurs, and that no one saw any alternative to the free market. But his real stroke of genius was to grasp that elections would no longer be about the economy but about values, and that here, too, the right was about to win the “war of ideas” without a fight.

The earlier the entrepreneurial mind-set is introduced in our young people, the more potent it can be. Start teaching young people to observe the needs of others and to think about how to satisfy those needs through voluntary trade and make a profit. When you see a store, discuss it. Point out prices. Point out quality. Raise their consciousness about ownership. Ask them who owns that building? What would that building sell for? How could we get money to buy that building? What problems does our community have? What new businesses would solve them?

If that’s the case, though, why did the Union, under Lincoln, so catastrophically fail? The easy answer might be that no strategy anticipates all contingencies, that every solution creates new problems, and that these can, at times, overwhelm. The harsher one—although I think the more accurate one—lies in the possibility that the Founders left the Union to test itself: knowing the need to proportion aspirations to capabilities, recognizing the incompatibilities in good things, they chose to save their new state, and leave to their descendants the saving of its soul. Augustine and Machiavelli had both seen in proportionality a way to balance the respective claims of souls and states: their differences lay in whether equilibria reached required accountability to God. Augustine said yes and labored mightily to provide it. Machiavelli’s God left statecraft to man. Americans, in varieties almost as infinite as those of Elizabeth I, straddled this divide: they could be, like their early leaders, coolly pragmatic, like their revivalists fiercely religious, and like their entrepreneurs anywhere in between. What’s clear, though, is that few in the young republic questioned—at least not openly—what so many in the mature republic would give their lives to change: the anomaly that a Constitution promising a “more perfect Union” assumed slavery’s legality. 69

GET BEYOND THE ONE-MAN SHOW Great organizations are never one-man operations. There are 22 million licensed small businesses in America that have no employees. Forbes suggests 75 percent of all businesses operate with one person. And the average income of those companies is a sad $44,000. That’s not a business—that’s torture. That is a prison where you are both the warden and the prisoner. What makes a person start a business and then be the only person who works there? Are they committed to staying small? Or maybe an entrepreneur decides that because the talent pool is so poor, they can’t hire anyone who can do it as well as them, and they give up. My guess is the latter: Most people have just given up and said, “It’s easier if I just do it myself.” I know, because that’s what I did—and it was suicidal. Because my business was totally dependent on me and only me, I was barely able to survive, much less grow, for the first ten years. Instead I contracted another company to promote my seminars. When I hired just one person to assist me out of my home office, I thought I was so smart: Keep it small. Keep expenses low. Run a tight ship. Bigger isn’t always better. These were the things I told myself to justify not growing my business. I did this for years and even bragged about how well I was doing on my own. Then I started a second company with a partner, a consulting business that ran parallel to my seminar business. This consulting business quickly grew bigger than my first business because my partner hired people to work for us. But even then I resisted bringing other people into the company because I had this idea that I didn’t want the headaches and costs that come with managing people. My margins were monster when I had no employees, but I could never grow my revenue line without killing myself, and I have since learned that is where all my attention and effort should have gone. But with the efforts of one person and one contracted marketing company, I could expand only so much. I know that a lot of speakers and business gurus run their companies as one-man shows. Which means that while they are giving advice to others about how to grow a business, they may have never grown one themselves! Their one-man show is simply a guy or gal going out, collecting a fee, selling time and a few books. And when they are out speaking, the business terminates all activity. I started studying other people and companies that had made it big and discovered they all had lots of employees. The reality is you cannot have a great business if it’s just you. You need to add other people. If you don’t believe me, try to name one truly great business that is successful, ongoing, viable, and growing that doesn’t have many people making it happen. Good luck. Businesses are made of people, not just machines, automations, and technology. You need people around you to implement programs, to add passion to the technology, to serve customers, and ultimately to get you where you want to go. Consider the behemoth online company Amazon: It has more than 220,000 employees. Apple has more than 100,000; Microsoft has around the same number. Ernst & Young has more than 200,000 people. Apple calls the employees working in its stores “Geniuses.” Don’t you want to hire employees deserving of that title too? Think of how powerful they could make your business.

The literature is full of discussions of these questions; full of stories of the ‘entrepreneurial personality’ and of people who will never do anything but innovate. In the light of our experience – and it is considerable – these discussions are pointless. By and large, people who do not feel comfortable as innovators or as entrepreneurs will not volunteer for such jobs; the gross misfits eliminate themselves. The others can learn the practice of innovation. Our experience shows that an executive who has performed in other assignments will do a decent job as an entrepreneur. In successful entrepreneurial businesses, nobody seems to worry whether a given person is likely to do a good job of development or not. People of all kinds of temperaments and backgrounds apparently do equally well. Any young engineer in 3M who comes to top management with an idea that makes sense is expected to take on its development.

I would not be able to explain the highly complex process of wealth concentration to you,” the alien said, “but in essence it was no different than the operations of capital markets in your world. In the time of my great-grandfather, sixty percent of the wealth of the First Earth was under the control of ten million; in the world of my grandfather, eighty percent of our world's wealth was in the hands of a mere ten thousand. And, when my father was young, ninety percent of the wealth was held by no more than forty-two individuals. “When I was born, capitalism on the First Earth had reached the peak of peaks, producing an almost unbelievable marvel of wealth: Ninety-nine percent of the wealth of our world was now in the hands of single person! That person was known as the 'Last Entrepreneur'. “Even though there was still a gap between rich and poor among the other two billion, they were vying for nothing more than the remaining one percent of the world's wealth. And so the First Earth became a world with one rich man and two billion poor.

Each of the three recognized categories—care, service, and education—would encompass a wide range of activities, with different levels of compensation for full- and part-time participation. Care work could include parenting of young children, attending to an aging parent, assisting a friend or family member dealing with illness, or helping someone with mental or physical disabilities live life to the fullest. This category would create a veritable army of people—loved ones, friends, or even strangers—who could assist those in need, offering them what my entrepreneur friend’s touchscreen device for the elderly never could: human warmth. Service work would be similarly broadly defined, encompassing much of the current work of nonprofit groups as well as the kinds of volunteers I saw in Taiwan. Tasks could include performing environmental remediation, leading afterschool programs, guiding tours at national parks, or collecting oral histories from elders in our communities. Participants in these programs would register with an established group and commit to a certain number of hours of service work to meet the requirements of the stipend. Finally, education could range from professional training for the jobs of the AI age to taking classes that could transform a hobby into a career. Some recipients of the stipend will use that financial freedom to pursue a degree in machine learning and use it to find a high-paying job.

Human rights, dissidence, antiracism, S0S-this, S0S-that: these are soft, easy, post coitum historicum ideologies, 'after-the-orgy' ideologies for an easy-going generation which has known neither hard ideologies nor radical philosophies. The ideology of a generation which is neo-sentimental in its politics too, which has rediscovered altruism, conviviality, international charity and the individual bleeding heart. Emotional outpourings, solidarity, cosmopolitan emotiveness, multi-media pathos: all soft values harshly condemned by the Nietzschean, Marxo-Freudian age (but also the age of Rimbaud, Jarry and the Situationists). A new generation, that of the spoilt children of the crisis, whereas the preceding one was that of the accursed children of history. These romantic, worldly young people, imperious and sentimental, are refinding the poetic prose of the heart and, at the same time, the path of business. For they are the contemporaries of the new entrepreneurs and they are themselves wonderful media animals. Transcendental, P.R. idealism. With an eye for money, changing fashions, high-powered careers - all things scorned by the hard generations. A soft immorality, a low-grade sensuality. A soft ambition too: that of a generation which has already been successful in everything, which has everything going for it, which practises solidarity with ease, which no longer bears the stigmata of the curse of class. They are the European Yuppies.

Bibb Steam Mill Company also introduced to the county the ruthless form of industrial slavery that would become so important as the Civil War loomed. The mill acquired twenty-seven male African Americans, nearly all strapping young men, and kept them packed into just six small barracks on its property. The Cottingham slave cabins would have seemed luxurious in contrast.51 The founders of Bibb Steam, entrepreneurs named William S. Philips, John W. Lopsky, Archibald P. McCurdy, and Virgil H. Gardner, invested a total of $24,000 to purchase 1,160 acres of timbered land and erect a steam-powered sawmill to cut lumber and grind corn and flour.52 In addition to the two dozen slaves, Bibb Steam most likely leased a larger number of slaves from nearby farms during its busiest periods of work. The significance of those evolutions wouldn’t have been lost on a slave such as Scipio. By the end of the 1850s, a vigorous practice of slave leasing was already a fixture of southern life. Farm production was by its nature an inefficient cycle of labor, with intense periods of work in the early spring planting season and then idleness during the months of “laid-by” time in the summer, and then another great burst of harvest activity in the fall and early winter, followed finally by more months of frigid inactivity. Slave owners were keen to maximize the return on their most valuable assets, and as new opportunities for renting out the labor of their slaves arose, the most clever of slave masters quickly responded.

a young Goldman Sachs banker named Joseph Park was sitting in his apartment, frustrated at the effort required to get access to entertainment. Why should he trek all the way to Blockbuster to rent a movie? He should just be able to open a website, pick out a movie, and have it delivered to his door. Despite raising around $250 million, Kozmo, the company Park founded, went bankrupt in 2001. His biggest mistake was making a brash promise for one-hour delivery of virtually anything, and investing in building national operations to support growth that never happened. One study of over three thousand startups indicates that roughly three out of every four fail because of premature scaling—making investments that the market isn’t yet ready to support. Had Park proceeded more slowly, he might have noticed that with the current technology available, one-hour delivery was an impractical and low-margin business. There was, however, a tremendous demand for online movie rentals. Netflix was just then getting off the ground, and Kozmo might have been able to compete in the area of mail-order rentals and then online movie streaming. Later, he might have been able to capitalize on technological changes that made it possible for Instacart to build a logistics operation that made one-hour grocery delivery scalable and profitable. Since the market is more defined when settlers enter, they can focus on providing superior quality instead of deliberating about what to offer in the first place. “Wouldn’t you rather be second or third and see how the guy in first did, and then . . . improve it?” Malcolm Gladwell asked in an interview. “When ideas get really complicated, and when the world gets complicated, it’s foolish to think the person who’s first can work it all out,” Gladwell remarked. “Most good things, it takes a long time to figure them out.”* Second, there’s reason to believe that the kinds of people who choose to be late movers may be better suited to succeed. Risk seekers are drawn to being first, and they’re prone to making impulsive decisions. Meanwhile, more risk-averse entrepreneurs watch from the sidelines, waiting for the right opportunity and balancing their risk portfolios before entering. In a study of software startups, strategy researchers Elizabeth Pontikes and William Barnett find that when entrepreneurs rush to follow the crowd into hyped markets, their startups are less likely to survive and grow. When entrepreneurs wait for the market to cool down, they have higher odds of success: “Nonconformists . . . that buck the trend are most likely to stay in the market, receive funding, and ultimately go public.” Third, along with being less recklessly ambitious, settlers can improve upon competitors’ technology to make products better. When you’re the first to market, you have to make all the mistakes yourself. Meanwhile, settlers can watch and learn from your errors. “Moving first is a tactic, not a goal,” Peter Thiel writes in Zero to One; “being the first mover doesn’t do you any good if someone else comes along and unseats you.” Fourth, whereas pioneers tend to get stuck in their early offerings, settlers can observe market changes and shifting consumer tastes and adjust accordingly. In a study of the U.S. automobile industry over nearly a century, pioneers had lower survival rates because they struggled to establish legitimacy, developed routines that didn’t fit the market, and became obsolete as consumer needs clarified. Settlers also have the luxury of waiting for the market to be ready. When Warby Parker launched, e-commerce companies had been thriving for more than a decade, though other companies had tried selling glasses online with little success. “There’s no way it would have worked before,” Neil Blumenthal tells me. “We had to wait for Amazon, Zappos, and Blue Nile to get people comfortable buying products they typically wouldn’t order online.

Smart Sexy Money is About Your Money As an accomplished entrepreneur with a history that spans more than fourteen years, Annette Wise is constantly looking for ways to give back to her community. Using enterprising efforts, she qualified for $125,000 in startup funding to develop a specialized residential facility that allows developmentally disabled adults to live in the community after almost a lifetime of living in a state institution. In doing so, she has provided steady employment in her community for the last thirteen years. After dedicating years to her residential facility, Annette began to see clearly the difficulty business owners face in planning for retirement successfully. Searching high and low to find answers, she took control of financial uncertainty and in less than 2 years, she became a Full Life Agent, licensed Registered Representative, Investment Advisor Representative and Limited Principal. Her focus is on building an extensive list of clients that depend on her for smart retirement guidance, thorough college planning, detailed business continuation, and business exit strategies. Clients have come to rely on Annette for insight on tax advantaged savings and retirement options. Annette’s primary goal is to help her clients understand more than just concepts, but to easily understand how money works, the consequences of their decisions and how they work in conjunction with their desires and goal. Ever the curious soul who is always up for a challenge, Annette is routinely resourceful at finding sensible means to a sometimes-challenging end. She believes in infinite possibilities as well as in sharing her knowledge with others. She is the go-to source for “Smart Wealth Solutions.” Among Annette’s proudest accomplishments are her two wonderful sons, Michael III and Matthew. As a single mom, they have been her inspiration and joy. She is forever grateful to the greatest brothers in the world- Andrew and Anthony Wise, for assistance in grooming them into amazing young men.

Everywhere you look with this young lady, there’s a purity of motivation,” Shultz told him. “I mean she really is trying to make the world better, and this is her way of doing it.” Mattis went out of his way to praise her integrity. “She has probably one of the most mature and well-honed sense of ethics—personal ethics, managerial ethics, business ethics, medical ethics that I’ve ever heard articulated,” the retired general gushed. Parloff didn’t end up using those quotes in his article, but the ringing endorsements he heard in interview after interview from the luminaries on Theranos’s board gave him confidence that Elizabeth was the real deal. He also liked to think of himself as a pretty good judge of character. After all, he’d dealt with his share of dishonest people over the years, having worked in a prison during law school and later writing at length about such fraudsters as the carpet-cleaning entrepreneur Barry Minkow and the lawyer Marc Dreier, both of whom went to prison for masterminding Ponzi schemes. Sure, Elizabeth had a secretive streak when it came to discussing certain specifics about her company, but he found her for the most part to be genuine and sincere. Since his angle was no longer the patent case, he didn’t bother to reach out to the Fuiszes. — WHEN PARLOFF’S COVER STORY was published in the June 12, 2014, issue of Fortune, it vaulted Elizabeth to instant stardom. Her Journal interview had gotten some notice and there had also been a piece in Wired, but there was nothing like a magazine cover to grab people’s attention. Especially when that cover featured an attractive young woman wearing a black turtleneck, dark mascara around her piercing blue eyes, and bright red lipstick next to the catchy headline “THIS CEO IS OUT FOR BLOOD.” The story disclosed Theranos’s valuation for the first time as well as the fact that Elizabeth owned more than half of the company. There was also the now-familiar comparison to Steve Jobs and Bill Gates. This time it came not from George Shultz but from her old Stanford professor Channing Robertson. (Had Parloff read Robertson’s testimony in the Fuisz trial, he would have learned that Theranos was paying him $500,000 a year, ostensibly as a consultant.) Parloff also included a passage about Elizabeth’s phobia of needles—a detail that would be repeated over and over in the ensuing flurry of coverage his story unleashed and become central to her myth. When the editors at Forbes saw the Fortune article, they immediately assigned reporters to confirm the company’s valuation and the size of Elizabeth’s ownership stake and ran a story about her in their next issue. Under the headline “Bloody Amazing,” the article pronounced her “the youngest woman to become a self-made billionaire.” Two months later, she graced one of the covers of the magazine’s annual Forbes 400 issue on the richest people in America. More fawning stories followed in USA Today, Inc., Fast Company, and Glamour, along with segments on NPR, Fox Business, CNBC, CNN, and CBS News. With the explosion of media coverage came invitations to numerous conferences and a cascade of accolades. Elizabeth became the youngest person to win the Horatio Alger Award. Time magazine named her one of the one hundred most influential people in the world. President Obama appointed her a U.S. ambassador for global entrepreneurship, and Harvard Medical School invited her to join its prestigious board of fellows.

Endangered Species: Young U.S. Entrepreneurs By Ruth Simon And Caelainn Barr

Here is what you must understand: everything has changed. What it took to succeed five to ten years ago doesn’t work anymore, and some say it’s become the toughest time in human history for young entrepreneurs,

He was depicted as a symbol of America’s young entrepreneurs.

enemies at all costs, and permit yourself to destroy them. Rest assured that reputable colleges, universities, and employers can detect, and rightly despise, cheating and laziness, which are reflective of poor character. Focus instead on sound values and hard work. These will both pay off for you in the end. Smile genuinely, everywhere, or learn to do so; this radiates outward and affects people positively! If you want to be an entrepreneur, then please heed this advice: Entrepreneurship is hard. In no particular order, you need to attract and work with only A-game players who share your vision, values, mission, goals, and chemistry

remaining calm under pressure were what helped someone land a coveted consulting job. In some fields, employers value practical experience much more than graduate education, so if it comes down to choosing between graduate school and an entry-level job, weigh your decision carefully. Determination and passion are the drivers of great entrepreneurs, politicians, and leaders. An A+ combination of head, heart, spirit, and network can make you a beloved and creative leader and entrepreneur running a well-backed and inspired company and team. An entrepreneur’s life is thrilling but very demanding. If you are of an

weren’t clear yet, they would work toward developing clarity of goals because clarity is a must. Unclear or unnecessary complexity is an enemy to accomplishment. Winners apply and align both EQ and logic with purpose. Their empowering and positive beliefs and emotions radiate within themselves and onto others. They are purposefully and persistently action-oriented because without astute and effective execution, nothing matters. Strong leaders, especially successful and creative entrepreneurs, also have a compelling vision. I believe that a great way to predict the future is to create it (in my case, a vision of the future in which writing and publishing this book has

Times were good. No, they were great. My company had just passed six figures in revenue, and it was headed to break the seven-figure mark. My team grew to almost twenty people, all of whom were passionate about the business and exceeded my expectations. Various local and national publications were calling me to secure an interview so that they could highlight me, a young entrepreneur with great potential.

Play for love, play for money, play to win! The ball is right there – in front of you.

finance, family, society, physical, emotional and spiritual health. You have to consciously maintain a balance.

Nothing stops the great from being greater and so was with Tulga Demir, born in Germany, who started his entrepreneurial journey at the young age of 17 in the USA.

The Kochs were also directing millions of dollars into online education, and into teaching high school students, through a nonprofit that Charles devised called the Young Entrepreneurs Academy. The financially pressed Topeka school system, for instance, signed an agreement with the organization which taught students that, among other things, Franklin Roosevelt didn’t alleviate the Depression, minimum wage laws and public assistance hurt the poor, lower pay for women was not discriminatory, and the government, rather than business, caused the 2008 recession.

Obama’s only connection with phones was to label them Obamaphones and hand them out for free through his community organizer network. Now millions of Americans and illegal immigrants have cell phones paid for by the U.S. government and funded through one of those obscure charges that appear on your phone bill, the “lifeline” tax. Obama undoubtedly hopes you never notice the charge, or ask about it. It’s so much better to rip people off when they don’t even know they are being ripped off. Obama has no experience in starting a business or running a business; the only business he has ever run—the U.S. government—is $18 trillion in debt, a full one-half of that accumulated during Obama’s two terms. Any CEO with that record would certainly be fired; any private enterprise losing money at that pace would long have gone out of business. Obama didn’t discover his lack of entrepreneurial talent at the White House; he’s known it for most of his life. That’s why he decided, at a young age, to go a completely different route. Envious of the entrepreneur, he would become the anti-entrepreneur. He would put his talents to use in taking from the entrepreneurs and getting away with it. So Obama’s lack of entrepreneurial talent doesn’t mean that he is untalented. He is talented, but his talent lies in other areas. Driven by envy and resentment toward entrepreneurs, Obama specializes in fostering and mobilizing the resentment of others. He’s not a community organizer; he’s a resentment organizer.

Berry and three other old Etonians, James Bolton, Alex Lyle and Christian De Lotbiniere, were the brains behind “Ski Bob” travel. This was a company, named after their Eton housemaster Bob Baird, which had been formed when they discovered that they were too young legally to book holidays themselves. So these young entrepreneurs started their own company and within the twenty-strong group, which mainly compromised old Etonians, the greatest accolade was to be called “Bob.” Diana was soon Bob, Bob, Bobbing along. “You’re skating on thin ice,” she yelled in her Miss Piggy voice as she skied dangerously close behind members of the group. She joined in the pillow fights, charades, and satirical singsongs. Diana was teased mercilessly about a framed photograph of Prince Charles, taken at his Investiture in 1969, which hung in her school dormitory. Not guilty, she said. It was a gift to the school. When she stayed in the Berry chalet she slept on the living-room sofa. Not that she got much sleep. Medical student, James Colthurst, liked to regale the slumbering throng with unwelcome early morning renditions of Martin Luther King’s famous “I had a dream” speech or his equally unamusing Mussolini impersonation.

I had the ideas of author Richard Florida in my head. Richard had just written The Rise of the Creative Class and I agreed with his findings that the Creative Class, which includes young coders and entrepreneurs, along with artists and writers and musicians, would be attracted to cities that embraced music and culture. And when these young hipster innovators came to town, they brought new ideas and the possibility of new companies and new jobs with them. On

Sir Richard Branson Sir Richard Branson is the founder and chairman of the Virgin Group of companies. An immensely successful entrepreneur, philanthropist, and television star, Sir Richard was knighted by Queen Elizabeth II in 1999. In 2002, Sir Richard was voted one of the “100 Greatest Britons” in a poll sponsored by the BBC. Eighteen years later, my daughter Holly was enjoying Prince William’s twenty-first birthday party at “Grandma’s house.” A giant elephant had been constructed out of ice, and “shots” were being poured down its trunk and young ladies were drinking from it. Holly found herself kneeling with her mouth around it, glancing upward to see the Queen looking down at her disapprovingly. If Diana had still been alive, she would have laughed until she cried.

The reason there are more employees than entrepreneurs is simply because our schools train young people to become employees.

Ajit was an entrepreneur. He spoke with enthusiasm, with energy and passion and that’s what connected with the young audience. Shashank thought to himself, “Wow! I want to be like that guy.

We travelled to different places at our own expense to understand ‘what is entrepreneurship’… and that changed my life for ever.

All this means that the usual free market assurances—A techno-fix is around the corner! Dirty development is just a phase on the way to a clean environment, look at nineteenth-century London!—simply don’t add up. We don’t have a century to spare for China and India to move past their Dickensian phases. Because of our lost decades, it is time to turn this around now. Is it possible? Absolutely. Is it possible without challenging the fundamental logic of deregulated capitalism? Not a chance. One of the people I met on this journey and who you will meet in these pages is Henry Red Cloud, a Lakota educator and entrepreneur who trains young Native people to become solar engineers.

The elderly and wildly successful credit card magnate believed that certain human frailties could actually help fuel success. Insecurity drove billionaire entrepreneurs. Emotional instability made for superb art. The need for attention built great political leaders. But anger, in his experience, led only to inertia.

It’s a myth that an entrepreneur cannot work in a corporation. It’s all in the mindset.

Chris M. Salamone is a highly recognized Legal professional currently living in Boca Raton. He has over 20 years of experience in his career, he has helped thousands of young Americans to grow personally and professionally.

Don’t Be Afraid to Fail When I was growing up, my dad would encourage my brother and me to fail. We would be sitting at the dinner table and he would ask, “So what did you guys fail at this week?” If we didn’t have something to contribute, he would be disappointed. When I did fail at something, he’d high-five me. What I didn’t realize at the time was that he was completely reframing my definition of failure at a young age. To me, failure means not trying; failure isn’t the outcome. If I have to look at myself in the mirror and say, “I didn’t try that because I was scared,” that is failure.

An Introduction to CFD Trading Increase, commit, and individuals trying to trade systems and their cash in different areas are usually trying to find new strategies. Like several good buyer, you won’t be joining the group, instead you had want in order to change lives begin or to create one. Stocks trading is really 80s within the sensation that perhaps young kids today understand how it operates, and have the ability to survive without any formal education. If you should be looking for a new company shift, you should provide a try to this new venture. First what’s a CFD? CFD stands for contract for difference. It’s thought as a small business contract an entrepreneur and by an expense business. If the contract expires, both parties can trade notes concerning the differences between the original and final price indices of particular monetary things like shares of items and futures. This is exactly what CFD Trading is focused on. The one edge that traders have within this economic contract is the fact that they get to purchase these factors at lower costs despite the fact that it includes nonvoting stocks where the trader can’t vote on all aspects of the company as opposed to what stockholders are blessed to do. Another thing is the fact that a CFD does not hold taxes on files even if these aspects are acquired in large amounts. In simple terms, it’s a in which a derivative asset is founded on an underlying asset’s cost between two entities that transactions the differences. These parties will need to pay the differences required to eachother. The way in which CFD Trading works is that among the entities gives the difference before contract ends included to the other. Just about like what occurs in spreadbetting, the trader continues the opposite end-of the deal with investment institution or CFD service, where the trader anticipates which cost will increase and having three selections to take whether to buy, to slide or to sell the component required. Another similarity with spreadbetting is the fact that you can find no tax tasks since CFD’s don’t involve buying of assets to become settled. It just requires the activity of the fee. Since the investor is just needed to spot a minor amount on these things, that are also called edges, the earnings and in addition losses will soon be on the basis of the money set in. In other words, a CFD is good for the entrepreneur since it gives him the chance of owning main assets without so much problem. Does It Work A good example of that is to ingest a share worth $20 and the entrepreneur buys 100 of these. He will be cost $2,000 by this exchange. Employing a stockbroker will demand the entrepreneur to shell 50% of this amount out. That is $1,000. A meager initial cashout is needed which amounts as much as only $100, should you evaluate that to an expenditure finished with a CFD representative. However, allow it to be regarded that whenever an investor enters a deal of difference, the cost place usually begins in a loss. Which damage is definitely equal to the spread. Which means the spread is at $8 along with if you come into a deal, the underlying resource must generate $8 merely to break even. Let us say if the actual resource reaches a quote cost of $ 20, then the CFD price will be a few cents less than that since the dealer will have to escape at that point. So as opposed to increasing your money to $40, he will must settle for several dollars. Nevertheless not really a terrible package to get a purchase with less trouble.

It's a nightmare,' says Cheryl Dorsey, the head of Echoing Green, a nonprofit we mentioned earlier that supports social entrepreneurs. 'I start every talk I give at a university saying, 'Please don't start another social enterprise!' Young people have equated success with being a founder. That's the Achilles heel of our movement. We're heading in the wrong direction if we let a million flowers bloom. It's not enough to have these tiny centers for excellence that never amount to anything. They're too fragmented, too balkanized to ever move the needle.' Dorsey tells young people that the biggest need now is for the 'intrapreneur,' the person who can move into an existing enterprise or institution, shake it up, and boost its productivity.

One question is in the mind of every fledgling entrepreneur in the high-tech startups of Beijing’s Zhongguancun neighborhood, the fabrication hubs of Wenzhou, the industrial region of Dalian, and dozens of other Chinese business centers: “Why not me?” Success is all around them…. Young Chinese businesspeople are driven by materialistic desires, eager to “catch up” with the rest of the world, and almost giddy with a sense of multiplying opportunity. They have read Internet chronicles of the triumphs of Yahoo, Silicon Graphics, and Google. They see themselves as the creators of the world’s future Intels, Apples, and Microsofts, and some of them probably will be.

Mr. Cawley looked into Rob’s eyes and understood that the young man was saying this only because he was supposed to. He saw something more in those eyes: anger. The emotion wasn’t nakedly apparent, but Mr. Cawley was a professional at reading the subtleties of people. The elderly and wildly successful credit card magnate believed that certain human frailties could actually help fuel success. Insecurity drove billionaire entrepreneurs. Emotional instability made for superb art. The need for attention built great political leaders. But anger, in his experience, led only to inertia. He remembered when he’d offered to pay Rob’s tuition at this very event, in this very gymnasium—an offer he’d never made to any student before or since. As a financial master, Mr. Cawley looked at the world in terms of investments, of risk and reward. In 1998, the “investment” in Rob had struck him on paper as one of the lowest-risk and the highest-return; he saw no possible downside in giving this rare boy the slight push (Yale’s four-year tuition of $140,000 being slight for a bank CEO worth nine figures) he needed to reach the pinnacle for which he was already headed. Almost a decade later, as Rob broke off eye contact to gaze down at the floor as if there were a pit between them, Mr. Cawley understood that a life wasn’t lived on paper. He was not disappointed so much as confused, and he opted not to inquire further into what exactly had happened to Rob’s psyche between Yale graduation and now. He wanted to spare himself the sting of his own poor judgment. This conversation was the last he ever had with Rob.

This insularity also creates an opportunity for skilled political entrepreneurs to present themselves very differently to very different people. During the run-up to the 2014 election for prime minister that he won in a landslide, Narendra Modi in India managed to be at many rallies at the same time by using full-scale, three-dimensional holograms that many voters took to be real. He also managed to be at more than one place in ideological terms. To the generation of globally connected ambitious young urban Indians,

It does not matter if we have material wealth. What really matters is—what do we do with it? I have attained financial success at a young age, but that was mostly luck. I just happened to join the right company at the right time. The fact that I have money does not make me a better person. What really matters is what I do with it.

Black Girls… I dare you to take your education seriously! I dare you to stay in school and get your high school diploma. I dare you to go to college and obtain a degree. I dare you to believe in your ideas and become an entrepreneur or start your own business. I dare you to create multiple streams of income for yourself. I dare you to read, learn, and educate yourself. I dare you to save and invest your money wisely. It’s important to invest in YOU. You’re NOT too young to walk into your GREATNESS. I dare you to succeed without apology!

Regardless, the young entrepreneur traveled alone and developed his skills as a salesman. His desire to succeed, and to seek opportunities wouldn’t allow for any impediments. This characteristic sustained Edison throughout his career. He was even bold enough to set up a chemistry laboratory for his experiments, and a small, secondhand printing press in one of the baggage cars! Sadly, Thomas’ formal education ended early, and by his early teens, Edison was considered functionally deaf.

want young girls to know that they do not need to be a model in order to be loved and of value. That is a lie that the media has sold you. I believed that lie for a long time until I realized that I am smart, talented, and capable of far more than being pretty.

In my previous book, Grindhopping, I told young entrepreneurs to ask three questions: What do I love so much I’d do it for free? How can I get someone to pay me to do that? If there’s no obvious job title in an organization doing what I love (and often there isn’t), what’s a low-cost way I could start a business doing that, and get the cash register ringing quickly?

Steven Odzer is a successful American entrepreneur. Since the age of 18, Stephen has developed and led businesses in the distribution industry. In 2000 he was named the Ernst & Young Entrepreneur. Now, with 30 years of experience, he serves as CEO of YBT Industries, a new company looking to transform the distribution landscape. Steven Odzer New York, Steven Odzer Linkedin, Steven Odzer Facebook, Steven Odzer Youtube, Steven Odzer Scholarship, Steven Odzer Buy LifeGuard, Steven Odzer Las Vegas, Steven Odzer Medium, Steven Odzer Nevada, Steven Odzer Blog, Steven Odzer Charity

Banks remain twice as likely to offer loans to White entrepreneurs than to Black entrepreneurs. Customers avoid Black businesses like they are the “ghetto,” like the “White man’s ice is colder,” as antiracists have joked for years. I knew this then. But my dueling consciousness still led me to think like one young Black writer wrote in Blavity in 2017: “On an intellectual level, I know that Black people have been denied equal access to capital, training, and physical space. But does that inequitable treatment excuse bad service?” Does not good service, like every other commodity, typically cost more money? How can we acknowledge the clouds of racism over Black spaces and be shocked when it rains on our heads? I felt Black was beautiful, but Black spaces were not? Nearly everything I am I owe to Black space. Black neighborhood. Black church. Black college. Black studies. I was like a plant devaluing the soil that made me.

Around $300,000 of the total $600,000 that was raised by Augur's funding team comes from a man named Joe Costello. Costello is a successful tech entrepreneur, known to be one of Steve Jobs' top picks for the new CEO position of Apple itself. Following the smart money isn’t always a dumb idea. Gambling or casino are terms never used by Joey Krug, a young Pomona college dropout, but also Augur's lead developer. He and the small team of just five employees use the term “prediction market.” Due

Young, lavishly bearded tech entrepreneurs were trudging forlornly down the hallways, laden with computers, printers, high-end coffeemakers, and foosball tables. Like digital Okies they loaded their stuff into their Scions or Ryder trucks and rumbled off into the unforgiving Boston commercial real estate market.

Ippiki Ookami (Ee-pee-kee Ohh-kah-me) Japan’s Lone Wolves Some years ago in Osaka, I was introduced to a young Japanese entrepreneur who had established a small chain of shops selling cowboy clothing and accessories imported from the American southwest. When we exchanged name cards, I was immensely amused to note that he had replaced his Japanese name with “Lone Wolf.” I asked the young man if that was in fact his name, and he assured me it was, and that he not only used it in his business contacts, but that his friends also called him “Lone Wolf.” I didn’t have to ask him why he had chosen this popular American term as his name. I knew that it was a total repudiation of all of the attitudes and customs making up the traditional Japanese way, and represented everything he wanted to be.

In the 1970s, Mumbai (then Bombay) was a whirl of motion, noise and colour. A million kirana stores lined the streets (this hasn’t changed much), with honking Ambassador cars, trolley buses and autos jockeying with cycles for space on the narrow roads. There was music, art, literature. People with big ideas and hopes for the future. Then, as now, the city was a crucible for a young entrepreneur with a dream. As a boy, I soaked in every aspect of vibrant Mumbai like my life depended on it. Back then, India was much more a manufacturing and agricultural economy, and I paid special attention to the economics of business—how family businesses

I wanted a position that required broad management in a growth enterprise that was doing something I could get excited about. I wanted to be an owner and to be committed to helping a team achieve its goals. Money would be great, but I was happy to be paid based on the value I was bringing to an enterprise, which presumably would be reflected in its success (or failure). The culture of the environment was important to me too. Basically, I wanted to build something. I knew that these factors applied only to those fortunate enough to have significant choices as to what sort of employment they take; most people take what they can get. That said, I figured I was still relatively young and could afford to take some risks and push myself in the direction I wanted to go. I could always declare penance later. By the time I arrived at Manhattan GMAT, I was charged up and ready to make a mark.

Our culture of achievement has grown to emphasize visions of success that are, for the most part, fairly predictable. Cole skipped a couple of steps. The basic plan is to go to Goldman Sachs, McKinsey, or the like, then maybe to a top-ranked business school, then back to banking, consulting, private equity, hedge funds, or a name-brand tech company. Or maybe go from law school to top firm to partner or in house at an investment firm, and live in New York, San Francisco, Boston, or Washington, DC.* Again, these institutions and roles are necessary, and they’re natural developments in our economy. We need them. But we need people doing other things too. We need people willing to take risks and, yes, to occasionally fail. Like real-world consequences fail. We need people committed over extended periods of time to creating value, no matter how hard that is. We need people who care deeply about the work they’re doing. Imagine someone who you think could stand to take on some risk—someone well educated who would always have something to fall back on, whose family might have some resources so he would be unlikely to starve. And this person would probably be young and free of major life obligations. Someone sort of like . . .  Cole. What’s interesting is that many of the people I meet who are young, highly educated, and from good families are among the most risk-averse. They feel like they need to be making progress along a ladder with each passing month or year. Their parents have often set high expectations for them. They measure themselves each period against their peers, who are generally following various well-defined paths.

Young entrepreneurs, before you may want to lead - make sure you have learned how to follow first. We produce our kind, if you can't follow then your subordinates won't follow too.

Unfortunately, hardworking, academically gifted young people are kind of lazy when it comes to determining direction. If you give them a hoop to jump through, jumping through that hoop can take two, twenty, or two hundred hours, and it won’t make a big difference. But they are quite lazy when it comes to figuring out what path to take or—more profoundly—building their own path. They’re trained to get the grade or ace the application. That is what has made them successful in most every conventional respect each step of the way up to their senior year in college, at the point that this process is well under way.

Your expenses grow to match your income. As the decades pass and you realize that no, you’re not going to save the world, the money becomes a more and more important part of the justification. And when you have kids, you’re stuck; it’s much easier to deprive yourself of money (and what it buys) than to deprive your children of money. More important, you internalize the rationalizations for the work you are doing. It’s easier to think that underwriting new debt offerings really is saving the world than to think that you are underwriting new debt offerings, because of the money, instead of saving the world. And this goes for many walks of life. It’s easier for college professors to think that, by training the next generation of young minds (or, even more improbably, writing papers on esoteric subjects), they are changing the world than to think that they are teaching and researching instead of changing the world. Sure, there are self-parodying, economically delusional, psychotherapy-needing, despicable people on Wall Street . . . but there are also a lot of people who went there because it was easy and stayed because they decided they couldn’t afford not to and talked themselves into it. A college student asked me at a book talk what I thought about undergraduates who go work on Wall Street. And individually, I have nothing against them, although I do think they should do their best to keep their expenses down so they will be able to switch careers later. But as a system, it’s a bad thing that a small handful of highly profitable firms are able to invest those profits into skimming off some of the top students at American universities—universities that, even if nominally private, are partially funded by taxpayer money in the form of research grants and federal subsidies for student loans—and absorbing them into the banking-consulting-lawyering Borg.7