1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
I thought the section on entrepreneurial imagination and creativity was excellent. The text did a fantastic job looking at both the right and left brain aspects of entrepreneurship. The four phases of the creative process were defined very well and the advice offered really hit home.
2) Identify at least one part of the reading that was confusing to you.
The complementary or appositional relationship took some time to sink in. I don't know if it was confusing or just something that I never thought about in that way.
3) If you were able to ask two questions to the author, what would you ask? Why?
Why not list more creative exercises? This would help, especially those people that want to train themselves to become entrepreneurs and creative thinkers.
Why not add more global perspective sections? This would allow people to get a flavor of the business and entrepreneurial climate in different parts of the world and introduce them to different cultural trends and incongruities.
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I am going to keep going back to the common theme that great entrepreneurs can be trained. I am still not convinced about this. I can see that people can learn to be entrepreneurs but the great ones are born with a little something extra.
This week, it was time to hit the road and talk to some folks. The steps were as follows:
1) Find an opportunity - With an aim of becoming an impact sociologist, I decided to focus on social responsibility and financial services. I designed a simple questionnaire to assess where people stand in relation to these concepts.
2) Figure out who might have the unmet need - Financial services impacts everyone in different ways from collegians dealing with student loans, to individuals figuring out what insurance to purchase, to businesses looking to secure financing for growth. Hence, I wanted to talk to anyone and everyone who is willing to share their thoughts in order to understand the unique needs of different types of people.
3) Come up with a list of questions. I came up with a list of 5 questions that attempted to understand what people believe social responsibility is all about and how they relate it to financial services.
This is the third post following up on the original bug list, which led to the world's 10 biggest problems post dealing with issues and problems on different levels. Today, after thinking about it some more, I will list the top 5 problems and spend more time outlining potential solutions with an emphasis on practical implementation; a "feasibility analysis" if you may.
This is just an attempt by an aspiring impact sociologist to rank the world's biggest problems and is always open to critique and debate. I hope that we will continue to think about OUR problems so that we can begin to IMPLEMENT solutions that will benefit humanity at large.
1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
The Entrepreneurship in Practice section spoke of a Harvard Business School study that showed the chances of future success for experienced entrepreneurs being 34% as compared with previously failed entrepreneurs, 23% and 22% for first time entrepreneurs. I had always heard that investors favored working with entrepreneurs who are experienced or who have failed previously because they would have learned from that experience. I was really surprised that the difference between failed and new entrepreneurs was only 1%. Somehow this still does not make sense to me.
2) Identify at least one part of the reading that was confusing to you.
The metacognitive perspective was new to me hence was more confusing than other sections.
3) If you were able to ask two questions to the author, what would you ask? Why?
Why not devote more attention to entrepreneurial motivation? This is the one area that would really benefit new and experienced entrepreneurs.
42 characteristics are often attributed to entrepreneurs based on table 2.1. Some of these seem inconsequential and even redundant. Has research not determined a shorter list that is more meaningful?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I will go back to the study cited as part of my answer to question 1. The author should have showed more compelling evidence suggesting that the difference between the chances of success of a failed versus new entrepreneur are negligible.
Obamacare has accomplished the goal of providing access to millions of Americans but for many Americans, premium costs place it beyond their reach.
Premium costs for Obamacare may be low and for low income families, tax credits are available, but for many premium plus out of pocket costs to meet deductible requirements make health insurance still an unattainable dream.
Middle class families, especially those earning around $48,000 who are just on the wrong side of the tax credit cutoff, are suffering the most.
Coverage of a rally in support of the Florida Tax Credit Scholarship program that is being challenged by the Florida Education Association (FEA).
The FEA is contending that the Florida Tax Credit Program is diverting money away from the public school system so they are challenging its constitutionality.
My hope with the entrepreneur interview was to get two viewpoints. Therefore, from an impact sociologist perspective, I reached out to Dan Price who is the founder and CEO of Gravity Payments, a credit card payment processing company that is community focused and committed to conducting business in a responsible fashion. Dan was awarded entrepreneur of the year in 2014 by Entrepreneur Magazine but his real claim to fame is being recognized as the $70K CEO because he made sure that everyone at Gravity Payments earns at least $70,000. Gravity's financial services focus and Dan's commitment to social responsibility made him an ideal candidate for me to approach. He responded promptly but did express that due to time constraints he may not be able to meet my deadline. I pressed further and he promised to give it his best effort. The big lesson learned in this instance was that I should have approached him sooner being more considerate about the fact that successful entrepreneurs are very busy.
I also wanted to get a multi-dimensional perspective so I contacted Asif Khan who is a CPA and owns his own CPA firm in the Tampa area. Asif has been quite successful continuing to grow his accounting practice over the years through excellent service and multiple acquisitions. I felt that Asif's accounting background and exposure to many businesses would allow him to offer entrepreneurial advice from both vantage points, an entrepreneur and a professional who regularly works with entrepreneurs and has a good sense of their characteristics and best practices. I asked Dan and Asif the same three questions.
Question: How would you define entrepreneurship? Is it restricted to business ventures only?
Dan's Answer: Coming soon...
Asif's Answer: I would define entrepreneurship as developing or launching a product or service based on certain resources in order to make a profit. So since I said profit, I believe it is restricted to businesses only and for profit only. I would consider a non profit organization more a social work rather than entrepreneurship.
Question: What do you think I should learn in an entrepreneurship course?
Dan's Answer: Coming soon...
Asif's Answer: I think in any business venture the most important thing to learn is to manage risk. There are a lot of resources given and what business managers fail to do is manage the risk and usually they don't have clear vision so if you learn how to manage risk you can really be a good business manager.
Question: What do you wish you had been taught in school before setting out on your own path as an entrepreneur?
Dan's Answer: Coming soon...
Asif's Answer: I would say again managing uncertainties is very important. What is usually taught in school is usually black and white but when you go to the real work you see that you're faced with uncertainties that you have to really manage with given resources so if in business school, you're taught the real life uncertainties that business managers of certain type faces that would be really helpful.
Dan was quite busy this week so I sent questions to him via email and I was able to speak to Asif on the phone. The biggest surprise was how quickly Dan and Asif responded to my inquiries. They are both very busy people but they showed a keen interest in helping out. I look forward to following up with them in a few weeks.
This might appear to be too much of a coincidence if you read my original bug list but, scout's honor, I had no idea that the next task would be to identify the world's biggest problems. So I am compelled to build off of what I wrote last week but this time, I plan to start with the problems that I believe are more causes than symptoms and work my way down to those that are more symptoms than causes.
Before we get to it, please note that this list is not inclusive by any means and a ranking of problems in this way is my take and is very much open to debate and open to interpretation. In the end, as an aspiring impact sociologist, I just hope that my sociological perspective helps you reflect on our collective problems until you are ready to make a concerted effort to take action in whatever meaningful way you deem appropriate.
The World's Biggest Problems
1. The Gradual Unleashing of the Capitalist Ethic
Slowly but surely the laissez-a-faire capitalist ethic of profit maximization and free market has been prevailing. This has led to a world where inequality, poverty, environmental pollution, sweat shops, and other symptoms of a capitalist system, especially where largely devoid of regulation, is causing great distress in the world. The remaining list will highlight some of these symptoms but candid reflection and logical analysis will point to the gradual unleashing of capitalism over the past few hundred years as the cause. This does not mean that we have not overcome some or even a lot of problems that the laissez-a-faire capitalist ethic has wrought but it appears to me that we continue to bandage the wound that just pops up again at different times and places with varying symptoms. The solution is not easy nor do I proclaim to have a magical answer but it revolves around reforming the capitalist ethic so that profit maximization must be balanced with social good and free market must be regulated to protect consumers at all costs.
2. The Globalization of Individualistic Culture
In order for capitalism to realize its full laissez-a-faire potential, the concept of laissez-a-faire must be made to extend beyond just governmental regulation becoming part and parcel of an individual's self-conception. Hence, Western culture (American culture) - globalizing across the globe since the advent of imperialism - has been built on the concept of individualism which posits that everyone should mind their own business so that every man or woman is able to pursue his or her concept of freedom and happiness.
In order for this to happen, people's historical affinity with religion; their connection with a supreme being (an individual's conception of a deity) had to be broken because religion holds some universal values as absolute (helping to reign in capitalism) and ultimately demands adherents to be accountable to a higher authority. Individualism, on the other hand, preaches that everyone pursuing his or her self interests will somehow be accountable to each other eventually leading to a collective balance and harmony in society.
Human actions throughout history and during present times continue to demonstrate that when we are accountable to each other, the powerful will oppress the less fortunate. Exceptions may exist as with anything but the general rule is what I am referring to. In an individualistic culture that is not accountable to a higher authority, values will always be subjective and shifting because morality and ethics will be self-defined and inherently self-promoting. How will we ever be able to achieve peace, prosperity, and equitable treatment for all standing on such an evolving and shaky foundation? Religious people, as a rule, have also fallen prey to this trap because they fail to internalize beliefs into a way of life that is truly accountable to their recognized deity. The way towards a solution is take the best of an individualistic culture and meld it with a collectivist culture and for people to seek accountability from a higher authority of their choosing.
These laissez-a-faire conceptions of capitalism and individualism are, in my humble opinion, the root causes of the problems we see in the world today. The rest of the problems in this list are more symptoms or sub-causes within the umbrella of capitalism and individualism.
3. Human Automatons
The classic black and white film Metropolis and the modern Matrix trilogy depict a world where people are essentially automatons going about their business, cogs in the greater capitalist society, unable to see the reality that they are being manipulated and oppressed by others. Today, we are engrossed in such a system that manufactures us to be parts of the machine and distracts us with worldly possessions (materialism) and entertainment (i.e. music, movies, games, sports) so that we do not have the time nor the will to reflect on our predicament and work towards improving our individual and collective relationships. Such a stressful life may just be toxic for us.
Social science demonstrates through experiments such as the classic Milgram Experiment and the Stanford Prison Experiment to what extent human beings will go to oppress each other when urged by authority or by even by adopting to the roles inherent in a given situation. The Holocaust, the Mail Lai Massacre and the Abu Ghraib torture experiences bring these chilling realities home because these were not social science experiments but real life incidents of human automatons' capacity for oppression. See solution to number 2.
4. Inequality: The Wealth and Poverty Divide
Laissez-a-faire Capitalism fuels inequality by funneling wealth to a very small minority. This is not something that can be altered. It is the essential nature of capitalism. Regulation and other measures are just band-aids. The result in America is over 45 million people living with poverty and according to the World Bank, over 2 billion people living off of less than $3.10 a day or less than $12,000 per year. In contrast, unless current trends reverse, the wealth of the world's richest 1% will surpass that of the rest of the 99% during this year (2016). See solution number 1.
5. The War Machine
For capitalism, war is just another revenue stream. By war, I mean state versus state conflicts, civil wars, terrorist acts, gang war, drug war, or basically anything that requires a group of people in armed physical conflict against another. Whether small or large, every conflict needs weapons of varying types that someone is manufacturing and profiting from. See solution to number 1.
6. Prejudice, Discrimination and Racism
Living lives focused on ourselves, competing with everyone else, and without being accountable to a higher authority in the truest sense, are we surprised that prejudice resides in our hearts, seeps into our discriminatory actions, and permeates as institutional racism into our society. The examples are everywhere plain as daylight. Only those blind to reality itself will not perceive them. See solution to number 2.
7. Toxic Stress
When it comes to disease, we can point to many that are major problems in the world such as cancer, aids, drug addiction, malaria, among others but diseases that affect our children directly impact our future as human beings. In this vein, recent medical attention is being brought to the ailment of toxic stress that mostly afflicts people on the wrong side of inequality and those habitually struggling with poverty. The more I learned about toxic stress the more I realized that if we don't take action against the root causes of our problems, we are not only harming ourselves, others but tragically even our future generations.
To see what I mean, watch the Harvard University video on toxic stress below and start by reviewing the American Academy of Pediatrics approach to toxic stress and this article on American Psychological Association's website. See solution to number 1.
8. The Destruction of the Environment
Capitalism and its thirst for profits and markets, at any cost, is destroying our environment. Just today, news came out that 2015 was the hottest year in recorded history and the previous record was held by 2014. In America, routinely companies expose minority and poor communities to environmental pollution because they have a better chance of getting away with it. See solution to number 1.
9. Technology: A Friend and an Enemy
Technology is great. Medical science has extended our life spans and improved our daily living conditions, sanitation has enhanced living conditions, transportation has made it possible for us to traverse great distances but we have also built weapons of mass destruction and our e waste is destroying the environment and exploiting billions of people who earn a measly and dangerous livelihood as its scavengers.
Neil Postman, in his book, Technopoly the Surrender of Culture to Technology, warned us that technology is the type of friend that shouldn't be trusted blindly.
In fact, most people believe that technology is a staunch friend. There are two reasons for this. First, technology is a friend. It makes life easier, cleaner, and longer. … Second, because of its lengthy, intimate, and inevitable relationship with culture, technology does not invite a close examination of its own consequences. It is the kind of friend that asks for trust and obedience, which most people are inclined to give because its gifts are truly bountiful. (xii)
See solution to number 2.
10. Political Correctness
How can we practice accountability to any degree if we are constantly afraid that we will offend someone? How can we build relationships that are truly meaningful if we can't be completely honest with each other because we are afraid to hurt each other's feelings? How can we expect our children to be accountable if we don't let them experience failure along with success? Political correctness may have had sound beginnings but just like anything else in life, it not balanced, it becomes another way towards oppression. See solution to number 2.
The first chapter was well-constructed and pleasant to read. I appreciated the groundwork laid for future chapters and the framework from which entrepreneurship will be examined.
Questions
1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
The history of entrepreneurship, especially the origin of the word from French, was a surprise. I was also intrigued by how the concept of entrepreneurship has been expanding outside of just the business realm. This is actually productive because innovation, passion, and resources are needed to solve problems that fall outside of the scope of business but the processes and dedication of business are very much needed to tackle all kinds of problems.
2) Identify at least one part of the reading that was confusing to you.
The schools of thoughts were confusing to some degree but mostly because the concept was one that I have not thought about much before. With further reading, I am sure this will become clear.
3) If you were able to ask two questions to the author, what would you ask? Why?
I would want to know if this great emphasis on entrepreneurship – the heroes of today – is diluting the field or bringing so many people into it for the wrong reasons. How dangerous are gazelles? I say this because striving for 20% or more success, for many entrepreneurs, can be quite dangerous. Shouldn’t expectations be tempered by lowering the “gazelle” bar?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I do believe that there are many dimensions or aspects of entrepreneurship and much of it can be taught but there is also something special about entrepreneurs that truly make a difference. This is only the first chapter of the text so my thinking is open and could change dramatically but as of now, I still believe that the great entrepreneurs are born with something that others do not have. So I am not convinced that entrepreneurship or everything about it can be taught or learned.
20. Permanently saving a program from DVR (Digital Video Recorder)
This is something that possibly can be done but it is not simple. For example, my kids and I got caught on camera when we attended a sports parade. The segment was recorded and we saved it for a long time but lost it when we had to move and change cable providers. We should have been able to save this special moment and 3 second of celebrity for our family but it was not meant to be.
This bug exists because television providers don't want to make it easy to save DVR content. There should be a simple interface in a DVR to connect a USB drive to save content.
19. Tampa area traffic lights clogging streets
Having moved down from the northeast, the traffic lights in the Tampa area take too long to change creating unnecessary traffic patterns. This is even during non traffic times and even at intersections where two major roads meet.
This is probably because no one paid attention and just put a random number on traffic light changing times. With technology at our fingertips, there is should be a way to monitor traffic on individual streets and adjust traffic light times for optimal efficiency.
18. Different prices for cash and credit cards at gas stations
The difference is typically 5 to 10 cents but really, what is the point? Are gas stations taking some moral stand against our credit culture by encouraging cash transactions.
This is most likely done to attract customers with lower prices - false advertising. Most people pay by credit now so why not have one price for both or a discount for paying with cash.
17. Most traffic lights function the same during the day and at night
There is limited traffic at night and late night, there is pretty much no one on the roads yet traffic lights function as if the roads are full of cars.
This is most likely because no one paid attention and just simple rules or with older traffic lights, the technology may have just allowed one set time. The easy fix is to make the major intersections have flashing yellow lights (yield) and smaller intersections flashing red lights (stop) during the night.
16. ATM machines only dispense $20 bills
Most lives do not revolve around multiples of $20. If $45 is needed, why should someone have to withdraw $60.
This one is perplexing. Is it really that difficult to store $5, $10, and $20 bills in ATM machines? Some banks have solved this but others need to catch up and have a way for people to withdraw $45 or even $21 if necessary.
15. Expensive (4 to 5 star) hotels have nit picky fees
Consumers are paying hundreds of dollars to stay at these establishments so why should they have to pay to park a car, browse the Internet, a fee just because the hotel has the word resort in it's name, and $4 for the convenience of having a bottle of water in the room. Apparently, even more is on the way.
It's all about the profit motive and Capitalism's tendency to push the envelope. Let's keep it simple and do some match including a small surcharge for such fees in the price.
14. Air travel used to be special but now we have seat fees and more
Excess baggage makes sense but now airlines are charging for all sorts of baggage and even more to bring a carry on bag. Now picking a seat even has a price and once on board, they are hawking even snacks and drinks. When will it stop? How about some fees that people might actually want to pay?
This started after post 9/11 travel insecurity and was exacerbated by escalating gas prices but now that people are traveling all the time and gas prices are pretty much back to the way they used to be, why are we still paying for all this stuff. It's bad enough airline pricing is anything but transparent but that is to their advantage because they can easily absorb these costs with a little planning. With more airline mergers, it seems that competition driving prices down is becoming a thing of the past. One price for complete service is a policy hotels and airlines must adopt.
13. Price gouging in movie theaters and amusement parks
The cost of movie and amusement park tickets are out of control but if this is something we are putting up with, why do we also have to pay extremely inflated prices for concessions?
It's all about the profit motive and Capitalism's tendency to push the envelope. The public needs to wise up and demand normal pricing for concessions. Movie theater water isn't healthier nor is an amusement park ice cream come with less calories to justify the hefty price.
12. Shopping malls and stores are now open on Thanksgiving
Thanksgiving was always our own very uniquely American day for food, family and football in preparation for the fourth F of Thanksgiving, Friday or more precisely Black Friday. But now with malls opening on Thanksgiving, it's more like Gray Friday.
Common theme I know but such is life in 21st century America. It's all about the profit motive and Capitalism's tendency to push the envelope. We can fix this by demanding that we prefer to camp out all night in front of our favorite stores like the good old days instead of leaving our Football games and going shopping on Thanksgiving.
After all, we took those long afternoon naps to stay up all night. While we're at it, let's get the NFL in on it too. After all, Thanksgiving shopping is taking away viewership from their broadcasts.
11. Automated answering systems
There is so much wrong here. Audio commands are not intuitive, the system is not able to understand people with accents, verification information entered has to be repeated again to a live person, nestled menus are too expansive, and it just takes too long to speak to someone.
These automated systems exist for efficiency and cost savings but they end up generating customer frustration. The way to fix this is to have standard button that someone can press anytime to get to a representative, the live representative should have all of the information given to the automated system at their disposal, and companies should speak to their customers getting their unique feedback and incorporating it into their systems.
Finally, the top ten and yes get ready for more of the common theme.
10. Multi million dollar guaranteed contracts for professional athletes
The minimum salary of each of the major American sports leagues (NFL, NBA, MLB, and NHL) is more than $400,000 and the average salary is $3.3 million (disclaimer - Google stats). Ironically, the most dangerous yet popular sport, NFL, has the lowest minimum and average salary.
More than anything, this about our celebrity culture and the elevation of sports figures to idol status. Charles Barkley was right when he said I am not a role model, parents are. We need to look in the mirror about what is really important for us and our future generations. An honest reflection will show that a myriad of things are ahead of sports, entertainment, and the celebrity culture that we are so consumed by.
9. Medicaid, being state run, does not cover across state boundaries
If someone on Medicaid is visiting another state, he or she is not covered if taken ill or injured leaving families, especially of children, to pay out of pocket for exorbitant medical costs that, for most, leads to ruined credit and unnecessary financial hardship.
This appears to an issue of government bureaucracy and a way for states to control spending but it really harms families who live in border areas or those people that have to cross state borders to earn a living not to mention the many people that travel. The fix is simple and makes common sense and maybe that's why it hasn't been done. If you are on medicaid, you should be covered no matter where you happen to be in the country at the time of illness or injury.
8. Vague and nontransparent fine print and legalese language
Have we read insurance policies or look at the fine print on pretty much any consumer label? Do we understand any of it? I am in the insurance business and it takes me a few readings to decipher the code and even lawyers have a difficult time with it.
This may have started as a byproduct of our litigious society but has a way to confuse and hold the truth from consumers. We can fix this with a simple rule, no language can have a smaller font than the advertising, sales, and marketing language. Plus the government should, like with cigarettes, mandate harmful disclosure in big bold print.
7. The escalating cost of higher education
The average cost of in-state public schools is about $10,000, the out-of-state public school average is about $24,000 and the private school average is about $32,000 according to the College Board. The poverty line in the US for a family of 4 is set at approximately $24,000 per year and 45 million people live in poverty. Can an average family on the poverty line afford to send even one child to an in-state public school? Sadly, no!
Back at it again. Repeat after me. It's all about the profit motive and Capitalism's tendency to push the envelope. Like much of the developed world, we need to treat higher education as a right instead of a privilege or as a way of keeping the working class or poor in its place. Our politicians must be mandated to develop plans so every child in America is able to achieve a Bachelor's degree just like a high school diploma. The sad reality is that today's Bachelor's degree is what yesterday's high school diploma used to be.
6. The erosion of our privacy
Companies are constantly collecting and selling data on our online habits and the government is secretly spying on us.
This is more than just being about the profit motive and Capitalism's tendency to push the envelope. It is also about big brother, the government seeking to maintain the status quo in the guise of protection and safety. America has been a place where privacy was meant to be a right. We need to draw a better line between real threats versus the perceived or manufactured threats to our security and the compromising of civil liberties to deal with them. We need to also ask why is our security at stake? Are we doing anything to jeopardize our security? Tough questions but only through tough questions do real answers emerge.
5. Non profits raise money but how much actually goes to their cause
Non profits collect money for their causes and mandates but much of it goes towards administration versus the actual cause it was raised for.
This is more about greed, corruption, and corporate excess. Should non-profit CEOs be getting rich from donations? Shouldn't non-profits still operate based on the tenets of efficiency and cost effectiveness? There should be caps on administrative costs for non profits so they don't end up making their executives super rich and instead focus on fulfilling their mandates efficiently and cost effectively.
4. Insurance loopholes
At the time of filing a claim, people find out that they are not covered, left to deal with heavy costs on their own. A great example, from my professional experience, is after Hurricane Sandy when so many people, including many first-responders, found out that they had to pay, out of pocket, to elevate their homes close to the shore. The insurance policy would rebuild the home but the cost of elevating it to meet modern zoning codes was not covered. FEMA was not much help. This meant thousands of dollars out of pocket for hard working and proud families that they could not afford risking the loss of the home completely.
Yet again, it's all about the profit motive and Capitalism's tendency to push the envelope. Insurance companies look to make money by reducing costs - not paying claims being a key cost reduction strategy - so policies are routinely written, with confusing and vague language, to exclude coverage and loopholes are actively sought. Lack of transparency is a key problem here. We can begin to address through regulation demanding that all loop holes are clearly explained and policy language is certain not ambiguous. Along with insurance companies, insurance agents, and brokers should also be held accountable for communicating and disclosing to their customers.
3. The lifespan of technology
Bigger, better, faster, and stronger smart phones, computers, tablets, and other gadgets routinely stop functioning optimally after a couple of years. We might not see it but this is causing an environmental disaster because these gadgets, mainly consumed in the developed world, are ending up as toxic e-waste in digital wastelands across the developing world (i.e. Africa, Asia, China).
Hmmm... Yep it's all about the profit motive and Capitalism's tendency to push the envelope. As Americans, we need to wake up to the ugly reality of our consumer culture by learning to consume less, demanding electronic products with much longer lives and recycling standards that do not expose the world's poor to harmful environmental conditions.
2. Scare politics
We are seeing it in the 2016 presidential election cycle as never before but it has been going on since the war on crime and the war on drugs that keeps the attention away from mass incarceration and a growing epidemic of income inequality.
This runs deeper than just being about the profit motive and Capitalism's tendency to push the envelope. It is also about the system and the people who control it by seeking to maintain the status quo and diverting attention from the real issues plaguing our society. See number 1 below for what should be done.
1. The American Dream Matrix
Many many Americans still believe that working hard, playing fair, and paying your dues will eventually make the cream rise to the top (i.e. meritocracy) and thereby giving everyone a fair chance at success but the reality is more like The Matrix of the famous movie.
And yes, you guessed it, it's all about the profit motive and Capitalism's tendency to push the envelope. Most of us, so absorbed in our lives and fully immersed in trying to keep ourselves entertained instead of being informed and reflective, have become blind to the reality that the rich or even the ultra rich have rigged the game, the system to their benefit at the expense of everyone else not in their most exclusive of clubs. Here is how Morpheus explains it to Neo in the Matrix.
The most nefarious oppression is hidden and those being oppressed are completely oblivious to it. As an example, here is how Americans misperceive income inequality.
What is to be done? If we have reached a tipping point and I don't believe that we have, we must begin to live up to what a citizen in the democracy envisioned by our forefathers was meant to be, informed and responsible with the capacity to hold politicians and public officials accountable with our votes and our solidarity.
The Bug List Reflection
I have to admit that when I started thinking about this, it seemed quite daunting to come up with 20 bugs but when I started reflecting on what it means to be an entrepreneur that it is not just about business, I realized that my list will become more the bug list of an impact sociologist, which is what I am striving to become. In the end, it proved to be much less difficult than I originally imagined.
I don't know if the intent of this exercise was to produce a list of this nature but it is comprised of the things that bug me and I believe bug a lot of other people. In attempting to provide some levity to the proceedings, I did make a concerted effort for some entertainment and sarcasm of a meaningful nature. There is much work that needs to be done but a realization of the problem is always the first step.
Like the title of this post implies, entrepreneurship is not new to me so why am I taking this class? More on that later but first let's start at the beginning of my entrepreneurship story.
I was inspired towards entrepreneurship oddly by listening to sports radio. A great lifelong friend and I used to listen to Jody Mac on sports radio 610 out of Philadelphia (still on the air during the weekends). He had a very distinctive style and seemed to really have fun online so of course we figured why not try it ourselves. We launched our own show but focused on Bollywood music out of India. We were able to secure a 2-hour Saturday morning slot on a local college FM station and off we went bantering with each other, having lots of fun, and playing great music. We took requests, showcased local musicians, and quickly built up a following as the first show of its kind in the area.
Before we knew it, we were producing our own radio commercials for AT&T, Western Union, and local community businesses. A hobby had become a small business. The enterprise grew to the point where we became the first to play Bollywood movies in local theaters. The pinnacle, before I moved out of town sadly ending the show, occurred when we drew over a 1,000 people to a midnight showing of Hum Aapke Hain Koun..! (English: Who am I to You) running simultaneously on multiple screens.
This initial taste of entrepreneurship left a lasting impression so when I got an opportunity to start a niche financial services business with a couple of partners a decade or so later, I jumped at it. But that's a story for another day. Let me finish by speaking to why I am taking this class.
I am an entrepreneur today not only because I run a small insurance brokerage but also because I have a vision for developing a framework for socially responsible financial services. The one handicap I am overcoming, in the interim, is completing my education. Having some practical knowledge does not mean I know anything about entrepreneurship so when a chance to take this class materialized, I figured it would only help to learn what I don't know, unlearn what I don't do well, and affirm what does work.
I have declared in this blog that I aspire to be an impact sociologist but how does that connect to socially responsible financial services? Something else we will have to leave for another day. For now, I am thrilled to be here and am very much intrigued by the format that Professor Pryor has instituted.
I moved to Florida a couple of years ago from the New York/New Jersey area and now live in the Tampa area with my parents, wife, and four children.
So from here...
to here...
And yeah, the Palm trees make all the difference.
I transferred to UF and am pursuing a Sociology degree online hoping to graduate next year. As an impact sociologist, I aim to foster beneficial change in our society that is becoming more and more fractured with time.
I have traveled in Asia, Europe, and North America but the other continents - excluding Antarctica - are on my bucket list. I enjoy sports (long suffering Philly fan), cooking, movies, camping, and learning, a truly gratifying pursuit that has endless possibilities.
The entrepreneur's mantra is not meant just for folks starting or running businesses. Its ethos is just as applicable to even an aspiring impact sociologist looking to make the world a better and more informed place. Here is my reading...
It is about time! The blogosphere is an immense ocean of interconnected content. It seems like I've always wanted to jump in and swim with the multitude of blogging fishes of all sizes and shapes but alas remained on the shore hesitant to even dip a toe into it. Or was it that my time had not yet arrived.
It's all moot as I am about to dive in head first. So with the hope of becoming an impact sociologist, it is time for me to articulate my reflections because learning, by itself, should not be the be-all and end-all, it should be a lifelong pursuit that is a means to an end; one that fosters justice and serves a higher purpose.
