Times of Entrepreneurship Stories
The Backlash to the Profits-First, Profits-Only Model of Silicon Valley is Growing. Here’s a Midwestern Example.
How To Serve 40 Million Meals, From The Alaskan Seas To The Grand Canyon’s Bottom
Delivery Apps Prey on Small Businesses and Restaurant Owners
I’ve been working as a senior fellow at the Access to Markets initiative of the American Economic Liberties Project. The initiative is publishing readouts from hearings held this spring by the Department of Justice and the Federal Trade Commission on the state of competition in America, as it considers new regulations governing mergers and acquisitions.
Here’s one readout focusing on what’s happening to restaurants:
Gordon Caplan’s Comeback
Is it possible for America to forgive a wealthy man? One of the people arrested in the Varsity Blues scandal tries to craft a new narrative.
Read the Story »
Charley Ellis, called the dean of American financial advisors from the Wall Street Journali, is a former board member of Vanguard and the Yale Endowment, and the author of the classic Winning the Loser’s Game, which has sold more than 700,000 copies. His 19th book, Figuring it Out, is a complication of his classic essays and timeless advice on investing. The first four people to respond to this email newsletter with their addresses will receive a free copy.
What I’m reading
I visited the Troublesome Creek guitar factory more than two years ago on a reporting trip to Appalachia. It was hit hard during the floods in eastern Kentucky; this is a documentary filmmaker on what needs to happen to save this unique company, which employs opiod addicts to build the most beautiful instruments I’ve ever heard played. Watch video here.
Some interesting things about the new climate legislation, including this good Bloomberg summary. Also some news about a carbon capture initiative in Oman that I’ve been following for a long time. Oman is the home of some very important rocks.
The chip legislation, which contains funding to help bring manufacturing back to the States (sorry Taiwan), will kick off competition between industrial communities across the country to land these big facilities, the jobs and prestige they bring. The legislation also contains $170 billion over five years to accelerate American development in technologies like AI, quantum computing, 6G and energy. More here from CNN.
Living the dream
Buzzworthy: Our research and stories in The New Builders, the book I wrote last year with venture capitalist Seth Levine, sparked interest at Harvard Business School in a case study looking at finance solutions for small business owners. More than 80% of them don’t access outside financing at all; and only 1% get venture investing.
Best Practices: Cut costs, but still invest in employees
Where to cut costs if you’re a business owner? Talent should be the last resort. Here are two ideas: personal technology, and inventory costs, which you can manage by keeping less inventory around. More ideas here.
But what you shouldn’t cut is spending on talent. Mike McFall, the co-founder of the Midwestern franchise chain BIGGBY, is crafting a future where companies almost become schools for self-awareness. If employees move on, so be it. His company has invested hundreds of thousands designing a curriculum for employees and franchise owners. One discovery when they looked at salaries: employees who had been with the company a long tie tended to be underpaid because neither they nor the company recognized their value. More here.
Upcoming Opportunities ⭐
To list an opportunity in our newsletter that reaches 13,000 influencers and entrepreneurs, check out our rates here. We cover the emerging economy of diverse founders:
1. A Course To Reach the Next Generation of Entrepreneurs
In this free course developed by entrepreneurship professor John Lynn, professors and other entrepreneurship educators get a curriculum and supporting materials based on the influential book, The New Builders.
2. Beeck Center Executive Director
This center at Georgetown University focuses on the use of data in the public sector. It’s currently hiring for an executive director.
3. South Florida Space Day
The Alan B. Levan | NSU Broward Center of Innovation will focus on trends, challenges, opportunities, and strategies of entrepreneurship within the space sector and will also include panels, seminars, an entrepreneur showcase, a business expo, networking opportunities and an entrepreneur pitch event. The event is free and open to the public.
Date: Oct. 12
Location: Tallahassee, Fla.
INSTRUCTIONS FOR ADDING US TO YOUR EMAILS
For Gmail users (desktop instructions)
Move us to the Primary Tab:
Click into the Inbox Tab where our email shows (possibly “Promotions”)
Drag and drop our email into the “Primary” tab
OR add our email address to your Google Contacts
Hover over our sender name on the email
Click “Add to Contacts”
Mail for iPhone users – add us to VIP
1. Open the email
2. Click our email address at the top of this email
3. Click “Add to VIP”
For other email users, add us to your contact list.
This story and others on New Builders Dispatch are made possible by a sponsorship from the Ewing Marion Kauffman Foundation. The Ewing Marion Kauffman Foundation is a private, nonpartisan foundation that provides access to opportunities that help people achieve financial stability, upward mobility, and economic prosperity – regardless of race, gender, or geography. The Kansas City, Mo.-based foundation uses its grantmaking, research, programs, and initiatives to support the start and growth of new businesses, a more prepared workforce, and stronger communities. For more information, visit www.kauffman.org and connect with www.twitter.com/kauffmanfdn and www.facebook.com/kauffmanfdn.