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welcome to the second panel discussion in the innovate So CAl series
from January 2014
this program includes moderator Ted Zoller
panelists Jeff Solomon
Vivian Shimoyama
and Amir Banifatemi
I'll we've got one heckuva
can I have my panelists to come on up here I
we're gonna be focusing on entrepreneurship education for a while
and the title the panel's marathoners learn
I'm telling you I'm ADB and i cant a on turner's learned the hard way
on and I failed in every other I respect so
it's not an easy process so when you think about entrepreneurial learning
where things are starting to think about II Benin
I've been on for all my life I've been in education for about sixteen years now
the higher education level and out a %uh partnership is changing
more more rapidly than I would ever imagine the
you always hear the term Moore's Law right I think Moore's Law
is absolutely applicable top honors education is where
the halfpipe upon precipitation is probably one month before
aged so what are some other the trends that are occurring
democratization online I education in the development of asset on online
including comment underscore for instance I networks
I the bubble we have now and accelerators and
our educational institutions represent for ecosystems now
Apple Creek ila I in between the college level president Oakley
thank you so much for what you doing here and provide leadership in Long
Beach
and then I of course a higher education institutions some of the panelists we
got a trip to Cannes on I'm gonna clear out the way
I killing time to focus on what I'm calling the 5 P's
pedagogy or what we teach that's the white
population who were teaching and now we're going to focus on
platform where we're going to be doing and
specifically what structures are we can put to work a plan to pass on that
a moral attack on how in their performance measuring our
progress and I have some traffic folks joining me on the panel
arm I'm gonna ask them to introduce themselves can to give the
coming on on what they're all about and what they've done but I had up solomon
who's a co founder and executive director at ample pie
LA and he's wearing a Startup Weekend control on a call that out
sir I fantastic on Libyan
a shimmy on a who is the regional accent executive director
with a Goldman Sachs 10,000 small businesses initiative which is amazing
initiative here I thank you very much for joining us and
Amir benefit at me I was managing director
I with Kate by ventures in East the president no organization recently that
i think is one most important regions were talking about 30 ecosystems
the tech Coast angels I hear in Orange County so
I wanna just ask you all to just give a quick for me on your backgrounds
and how you really tampers a vindication to start with
idea sure on thanks for having me this is a
these are the nicest seat ever been a panel
feel like a king yeah they're really cool connecticut's of I
still at my name is Jeff Solomon I'm a partner at amplify we r
a startup accelerator and Venice
up in LA I'll me
and in best and roughly 25 to 30 companies
over two-year stretch the last year's event 26
on we try to take pretty
early-stage companies and help them
Grohl help them raise more capital give them some capital give them space in
and really tried it clearly accelerate their their opportunity
on we were gonna lie to young founders a
I would say on there are some some
guys that are just out of college there that are coming into our program
on the Really Trying to to you teach young guys had a
figure out the startup processes it's its
complicated it's not as straightforward as you might might think so
that's kinda spotlighted very good
billion great hi interventional yom it's great to be here and it's great to see
our view here
on whether you be working with the entrepreneur eco-system
or yep she would love to have our alumni from the 10,000 small business program
stansel we should know love
mom how many alumni we have here but also if you're sitting at a table with
someone
we should ask some more questions about their classroom experience
but thank you is we work with Long Beach City College is a southern kept
California Regional Center
for the Goldman Sachs 10,000 small business program and we deliver a
business and management education program callously college
in Long Beach City College in it really is focused on businesses that are poised
for growth
and also working with them not only on the business management education side
but also working with what we call our funding partners
to look at various ways to get resources
to these businesses arm in on the other side of the tissues
you did see some are a long night we're building our alumni program for
the scholars because what we do know is is as are building their businesses the
to get access to resources
in a mere thank you very much and happy to be here as well
nice place your last time was a
the convention but this is good with energy today
so I also my next day I'll
avid double happy I'm I common taxpayer venture fund which is
most dedicated to early-stage startups
also was a call father of an exit or in Orange County costly 5 launch
are I'm still part of that but the more more managing investment partner
and also happened to be part of a member of the course angelos which is
the Southern California largest social network which is probably
now the US the one that has the most members of the book to enter them
five members so the focus really is is to invest
interest as companies and get the BC ready
with that different ways through the exhibition apart
like our friend Jeff and amplify and other observers
but we try to focus more on a bill the product and most at the college
accompanies an
and get them up to to half a million dollar wrong
funding through are for mentorship
so this is through the focus and we're trying to leverage every possible who
have
to connect with universities and other incubators and other
players are stakeholders of the community through to make it happen to
review the focus is to
to provide capital to produce it offers just turn the job over to
peco's the Eagles you guys could figure it out port right it's amazing
credible organization so pedagogy I'm the first P
as as mentioned before partnerships in a state of flux
there's a lot of change here we're learning faster than I think we've ever
learn
I'm from your experience our county all the think about the pedagogical
strategies to work the best
so what's appropriate mixer classroom versus experience or hands-on training
have the most effect to help people really gain the skills to become
successful entrepreneurs
would like to tackle that one I'll start
on we're we're not
necessarily an organization design to
educate for the sole purpose of education now that said
I think what we do a lot %uh is educating entrepreneurs
and the truth is that %uh the 26 deals that we did the last two years
very few them a probably get away on
you know so what those people are gonna get that built those companies
are going to get more experience and
expertise and and figuring out what works and doesn't work so when they do
their next startup
by they'll be more successful and I think that's an important role that we
play in the ecosystem in a lot of investors
that put money into our kind appreciate that because they're not investing
once they're investing in started because system in the long run they're
gonna do
many many deals and so for us you know we want to get wins obviously our
investors are there to make
every turn but they're also there to continue to cultivate
these entrepreneurs to the that we have better and better ones and if you look
past
the the past several decades on in every major
entrepreneurial ecosystem LA Silicon Valley
Boston New York all these areas the group keep getting better and better and
what happens is as the company grows
it it gets an exit and its spins off a bunch a bunch burners
based our company something fail they get better the next time round
and gets it grows and grows and grows I think that's part of our role
and chance your point it's very experiential my perspective it's not
classroom oriented testing trying
failing succeeding doing all those things to learn
Ross that so Ted I can talk more about the experiential side as well as a
classroom
because with 10,000 small businesses the program was developed with Babson
College
and they've pope they deliver some the top
much on our programs in the world and part of it is a set
would they found is isn't few have a mix of the in a reactor for the business
owners and entrepreneurs
but the culprit to call business and management education
it's what they take back into the business when they learn in the
classroom
that is really very relevant to them and so what we find in a class all we do is
the experiential learning inside we not only look at the case studies but they
also
or two we called Growth Group 527 entrepreneurs together
feel was group for them and we have industry groups that they work in
so it's that peer to peer learning model that has been very effective for them
and then the other piece of it is the classroom piece which is the tools
what are the tools that you give these business owners so that they know
yes they're growing their business that they could go back to what some of the
things that they learned in the classroom
and actually be objective and and take a look at what they put into a business
both plan
how did they look at the feasibility study why did they do a three to five
year forecasts
so those are the kinds of things at the classroom teaching of the tools
as well as a experiential learning has been really effective
for the people come to the program and then I would say one other thing as a
commodity
programmers is what we found is over seventy percent
for the individuals are in the program the seal business owners
they either refer business to one another me for resources to one another
or they get referrals resources from our eco-system
so it is about building those relationships while there their
one-on-one
but it's also about to learn peace yes
me review anything review are sure I think the
I think entrepreneur education is itself the start-up phase right now
word just the beginning of it and its is popping everywhere
many initiatives and as a passport
for myself I've learned the hard way certain realities that
was not talk to me school so
are I think I'll to pressure medication tobacco G is a mix of theory and
practice
and that practice have to be done by being about burner
is not the way you can unlearn onto pressured by not being a lot
you have to face it you have to go you have to failure start again you have to
experiment
but this also an opportunity to learn the theory
and to put things into context and understand the bigger picture on the
macro economy
think so I think for the country has two mix both of them
so the meeting between universities and Center for Education
and incubators and accelerators and and funders is important right to create
that makes
to provide the because I could see which will find his own way
your future but I think we're still in the early stages of controversial
cation so you know it seems to me that I'm
I'm Your Baby & jeff also cited human capital cited
talent I'm preparing kalin so the next p I
accounts the panel look at is the population
so who in your view the most in need about twenty odd occasion Southern
California
and where would we get the biggest *** for the buck are so profile the target
market if we were to attack this
you go after would want to start
I was said everyone would benefit from from from that but
you have to make sure that the next wave want to press which are today in
middle schools and high schools and college are fully
where trains prepared
right to be part of a girl community and ecosystem
I'll that would be the first published novel problem vest
time in Africa you think a mere they raise their hands then they're ready to
go
that's that's the way you select them okay very good how are you
soaps and think mir you know I participate in the white house
conference on small business
some years ago and I'll we we're very focused on entrepreneur
education in are education system whether it be in the GreatSchools
wetherbee the high schools whether you move them out to the community colleges
or into be higher education system
and so what we found was that was very critical and you still see some other
happening but it's not part of the curriculum so i'd I
totally agree with you i mean somewhere along the way we have to
show our young people on the path to another way of having a job
that's creating their own job but on the side of really looking at
on some other businesses that we work with on and some other research it's
been shown as
Goldman Sachs foundation did research before they rolled out the five hundred
million dollars *** about this business and management
education program and what they saw was a sailor
they identified some criteria what they consider poised for girls
the business owner cat lease form please they had been a business at least two
years
and their business had revenue about 250,000 four million
so its targeted on some research how they built that curriculum
around the elements love how can we take the business to the next level
in so if I just spoke about just one of those elements with more
be about having employees you know what we find in the classroom is
it's really critical as you make an investment in your business
when you hire employees and you create those jobs
and when we have these business owners in the classroom talking about
the Human Resources side talking about the culture company
and talking about what why is it important to him values
bring those values in show business that's when you start to see
that whole piece if it is is wires car that are
criteria number employees and if they want quick thing on that concept
actually quite passionate about this topic
I think it's absolutely the high school's I think but some high school
is too young to really absorb and experience I think
its to me exposed to but a high schools where they can actually practice
and this summer I wanted to start a test some thoughts around that Iran
a summer course for high school students in entrepreneurship and I had 12
students
from about a six different schools around Southern California
both private schools in inner-city schools just like a real mix
and on there was a pay for class and it was
twice a week for two and half hours
a day for eight weeks and down
the students were amazing planned we really focused on
the entrepreneurship as a way of being
and that my goal for them was that some other may leave wanting to be
entrepreneurs
but that if they learned their concepts and principles on how you look at life
and look at problems and look at opportunities and challenges from an
entrepreneurial perspective which is how I've
sorta built my career and life you find different ways
and so you may want to be a doctor but you cannot burial doctor you may want to
become
a a builder you can be not prayer before so it's a way of being I think that you
can integrate into whatever it is you want to do
and that's what young people need to learn in my
agree I i appreciate as such in the months to come so the questions
in it occurs to me the next question that counter panel to do is be the third
p
I call platform so if you think about what institutions what tools will be
needed to build an effective training regimen
copper Southern California burners so is an online platform enough
I or should we leopard place somehow on what institutions what
organizations with the cobble together the bill you know are killer system
the Big O the question
meet people and for I mean unfortunately it's a
the I found it to be a challenge to deliver the stuff without people that
have experienced it and then sit with those people like
me with 12 kids that was about all I could handle you know I couldn't do
a room with fifty it just wouldn't I would have been able to deliver it
and they would have absorbed and so it's hard to scale that like there's
you know there's only so many guys in my stage that wanted to take the summer do
that
on try I don't know exactly how to do but I know it does take some people and
maybe
there's entrepreneurs that have kind of gotten to a certain point kinda come
back in
like they want to mentor these the startups maybe because their mentoring
under people to Nichole up the book so how would you scale it up
so how do we marked by Jeff at times 12 well I mean that video education is
clearly working
so I probably spend time like trying to build more videos and doing
you know i i really like the model of the flipped learning class
style where people learn the topic outside the classroom and then work on
the topic inside the classroom
and that does allow the class in the scale quite a bit because you don't need
as much
like focus on delivering the continent gotta help kids and kids can actually
help each other
something that's one way nicking you've got great entrepreneurs
deliver more more video-content probably stay littman that way
catcher what ya think
think everything is on the internet already so if somebody wants to pursue a
fine
the content and the knowledge is already
media the content online the problem is that
one doesn't know what they don't know and you have to have template after
rockne
at the roadmap as just suggest that comes from other entrepreneurs right
the best mentors are possible honors the best investors are possible partners
because they know
and they can connect the camp understand the context in which your face them
which
of persons to people so with regard to per is a big corporation is
internal intro entrepreneur would be corporation
or it individual the track to launch a new startup
both cases the need to have the mentorship and that mentorship
is essential so I think the tools are going to be towards reforming the wrong
a network of mentorship network of
incremental and iterative knowledge gathering
and experimentation expenditures as a big place to do with it
so the there's nothing with the who is we we created
are board member interest in high schools we
we've been the past few years teaching a class
going three universities a Japanese one of them a climber callers in a little
while
broke was the first one and the class consists of rolling
on the grass students in college and registrants was
into a star and call this shuttle program I so they were involved into a
class
I'll learn by doing and distorted by the timing was complemented by
theoretical lessons given by the professor but
was a complicated set of processes with designs
to bring students into understanding what entrepreneurship
is and what not is facing and they wouldn't burned-out on their own 20 22
business plan competitions
or hackathons or something because which are other exercises they have to go
through
right to learn but the connection with the entrepreneur learning
how they feel there douse their desire the moment the difficult at the moment
of hope
all the things that happen in 2012 pres life the need to see
and the sooner this either the summer the compy gonna be inspired
so for me other person was like 10 the good to talk
is not just ideas worth spreading is practices work
teacher you have to to create that energy right the wrongs
students a new entrepreneurs and
if you create that the complex I think the trolls are going to be natural
designer on some starting the sea kinda contour we're leveraging our talent
through a network
were accessing their expertise and were transmitted expertise working on a
supply will somehow
in billion you know you don't have the benefit of hiding his you say 10,000
small businesses
you know you obviously find it attack in the macro way what do you think about
this
great you're absolutely right we are checking in on a Mac away and I think
the other side were too is
is working with educational institutions it's about reshaping
and looking at how to watch a personal or and what we find in the classroom as
they do learn through a lot of the experiential they want to take what
they've learned
back into their business they also want to teach their employees
and that's a part of they don't know what they don't know questions
is is higher than that they didn't take what they've learned
and bring that back to the business and teach their employees gauge their
employees
arm and also a delegate more and take the controlling from themselves
so that's the kind of warning that we see as far as a platform how do we scale
the 10,000 small businesses fair bit and very interesting because
each year we introduced three
new collagen so now it's up to 12 colleges in 12 different cities
but still hard to get 10,000 Goldman Sachs to the netroots inside what else
can we be doing
and they had always considered online component so there is a national cohorts
performed
and they will do Park in a classroom at Babson College
and part online in the head a business adviser
advisory services so I I think you know an answer to
to park your questions first platform for miss entrepreneurs learn in so many
different ways
and they're so many tools or out there on but you know we're
looking at how do we encourage entrepreneurs to be lifelong learners
because that's really critical no matter what stage there
business to want to be able to get the tools at the
okay so let's try to add it all together I guess these guys did
you something big you can earn your massive honoraria for sitting up here
the truth is they're doing it for free but we're working hard
in a metal an invite everyone in the room go to cover mental exercise just
for a moment let's just work this out
um if we were to pack right now
the ideal wrap-around service for Southern California to serve on
Bernard Press leveraging the IP product that's here
visualize in describe for me the best time for your support platform we could
create
describe a lil it would look like
it's a big job for panels in it I'm guessing all you are thinking
in by the way I committee all you all you could know I'm a New Yorker stuck in
the cell
play but what happens when you go do that
okay so who's gonna start visualize for me impact or me
the ultimate system to support up
my express tells me that there's no reference service
you cannot exist you indica some statistics this morning about
the degree of connectivity right and the
the conductor of connections right on the press have to do that I believe
director of service that you described or you try to to picture
is an open-source of my is a platform where everybody participates everybody
is part of the system
right and is going to be hard to capture it
as a whole I don't have to be fine but
but expressly I C so many constituents so many players
for stakeholders being involved in it and but its final where your
tell me the players what players do you see involved in who are the players
was certainly teachers certainly parents
certainly incubators
X-ers certain investors certainly
arm government certainly
all of them all right but but
the moment that that have the same importance as the government but you
have tough
unified aligned goal of promoting the sensor
innovation that matter as itself for entrepreneurs as
this mindset of doing things and not giving up on and try it again and again
and again
and thats is beyond a small business
you will see it not only the network with the culture
sick of hearing you call it is a cultural change more than anything else
but that mean that is happening like Ryan in LA in particular
like that cultural shift is occurring as all these and these are all
playing ball but out I'll give you a specific
hack you when you use that term and use the method that I basically have learned
in entrepreneurship which is
I'm I can create but I largely people call me a cobbler
I like to cobble things together that I didn't necessarily create which is a
very great entrepreneurial skills
if they don't feel bad about not be in the original creator
something we sing on integration by the integration okay although
on there's a there's a product that I use regularly but i think is
phenomenon any this model works really well it's called
clarity on and it basically is a platform where people with expertise
have any type and it's largely
business and entrepreneurship and stuff in the business round right now
but the concept works across across categories anybody with an expertise
can post their expertise on this platform
and charge by the minute to take a phone call
with someone that wants to get that expertise so it's a very win-win
situation the guy has expertise
get paid for his time in a very fair
way person whose expertise can find someone that really really really
understand what they're looking for in a very specific way
yes they're paying for it but they know if they're gonna pay some report they're
going to get a good result they're not going to get something that's likely as
you're not in
it paying attention so the model works very good and
the the business actually make money today said he could find money to
support a platform like that the people that couldn't afford to pay parking
get the service for you actually empower the people that have the skills by
paying them
which gets candid actually give the skill away
on I'm I've used it to get knowledge and I've been paid to give knowledge
and it works phenomena very good
it's amazing that sometimes people the priest metallic coveted
hide it you don't share it they have to be given a vehicle to do it
we're talking about making matches in very specific ways in some cases right
to
yeah extraordinary scope so
million you know where that we're we're coming around you can you bring us home
somehow
so you know what does this look like it's going to be. massive it's gonna be
multivariate
in it has to have not one student involved he's at work with institutions
it is massive and what's interesting has a son last year I put
participate in form and norms and they were talking about their entrepreneurial
system
and the so the more that we hear about launcher pro at the system's
I do think the more that we started to think given in terms of
not so much the individual arm organizations and individual technical
assistance programs
and the financial funders and the government agencies
and chambers of commerce and the people there on the education side
all being separate pieces but it's more about held June day
not so much work lever to flee but how do we take a business owner no matter
what stage of their startup
if they are established business if they're going for
investor funding had a week take that businessperson
through and walk them through getting the resources to report with individuals
I mean I I've seen so much in the efficacy work that I've done with small
business owners ins
is the organizations are altered the resources are out there
but is there a connector is ur connection point have someone taking
an individual business owner through that process making it easier
so do you think that platform includes those introductions and
you know it's interesting ted castle the very beginning when you
I'm showed some stats you and i talked about this
and you talked about it was all focused on the dealmakers
is you know for the small business owners such a small percentage of them
go after the equity fund in Saidapet most of them are
adult fun inside but that's what our arch Oracle system is really about is
how we link
the deal maker side said between two of them om
with the financial institutions in on the equity side
so that business owners know at all stages of girls in their business
they're going to have to anticipate how they gonna get access to the capital
okay so my head hurts already after and I hope your juices are flowing
so you know I want to keep this conversation going you'll need to come
up and ask questions when picking
you know the four things that they were building blocks were first culture
second network third intermediate
and brokerage functions of some kind in four taking Jeff sack
specialize matches right so there some kinda thing there and obviously
institutions I'll play
well last p performance
just for the sake of argument how can we measure success or outcome
but in terms of success one banners in the benchers they operate
as well as our own internal progress our own internal performance in building
this paper system
so what would how do we measure ourselves the last piece performance
how do we measure our progress way up from you measure
it up on all for you know but it's all good
well you know it's so interesting is that that
that question just resonates so much because business owners
really important piece a bit is business owners is metrics
that they have metrics and arm so how would we measure their performance is
is I think it is about studying those metrics we talk about our cash purse but
also it's about
really monitoring the progress I've been so what could serve all those metrics
p for us is you know in the Southern California region
you know we have a very critical mass of small business owners
and so for us it you know easy
that you can be job creation you know the other side of increasing revenue is
is all of us have to work with our local governments
our local or state or federal but it's really the local governments
so unites a just another match it could be as how are we as business owners
working with our local governments to make sure that we can participate and
advantages
up having our business particular cities in in that girls in the Southern
California region
so you know there's I think there are different ways to look at
I'm not just a number but the participation of a small business owners
in the job creation and increase in revenue
which means paying the taxes and what we consider to be I consider be enriching
lives
because when business owners higher employees they enrich people's lives
nice for you well some things out
I'll take a shot from the investment
standpoint I think a measure of success
will be the number of serial entrepreneurs
but they're constantly increasing again and again and again
it's also when I growth brother you're in my church
can also the number of entrepreneur investors right
two more entrepreneurs investors not entrepreneurs create this
life cycle so these are two matters are all
problem things are important ways to
too short the to hell where of the community
innovation I can't help but get up and go Halloween goblins leavin
so you know yet what's amazing about this is it's a cycle generosity
operators get back I don't know what it is but you know when you're successful
you have a liquidity event
honors right away invest in one another okay let me just prove it
how many view our partners there is a questionnaire raise your hands
how many we are partners how many when you're successful will invest in other
offer or venture
okay you're done
alright Jeff can you bring us home what's matter how do we measure this
thing
on at you like that
a I think that is that is important I mean I think that
the there are a number of metrics that you can't put into the causes some like
you're saying obviously that
the the the simple ones are you know how big with the exits how much returns it
we get
how many people did you hire so I think those are all important player in
the movie individual entrepreneurs certain in to start
measuring their own performance and starring understand like what what is it
mean to be
successful for yourself and i think thats at a very on subjective
gauge and I tried to really as an example back on
that class I did this summer I tried to really get them to to look at that
question is like what is success mean to me or maybe it's just
coming up with a cool idea I could never come with a lady before so I did that
and that was very bad experience or something new and that was a win
in ending a lotta entrepreneurs jump to the if I don't make a billion dollars
I'm not XXS
this is not the case in for small they're just gonna be still you love
those deals
that doesn't mean you can't be hugely successful on impact meaning impact
others and do you think so
and Ingleside started to try and identify with those measures are
on an individual level it's only wants to know I
at that former people the room planner different definitions the success
you know let's be honest with ourselves how many view
would just like to make a crap load of money could raise your hand
how many with you how many have you want to have impact in your community or
society
and change the world by the way most who are raising their hands twice
so it tells you something is amazing usually you know the folks that wanna
you monetize our opportunities are about on a meeting anyways that there's two
things are coming together
alright so here's where I want to invite you all and let some we got a few more
minutes for questions
join us in this hack with you come come in asking questions and
how we think about occurs medication for the California please %uh
rowly waller impact farms Los Angeles I hear a lot of discussion about small
business I hear about venture capital
on question for me is it not so much how they learn but what are they learning
how much your curriculum is focused on this
venture capital model here is pursuing this one percent success rate
verses what are we really invest in the local business development community
so capacity the venture capital for high-growth
I have it I return types of businesses relative everything else
that powers our economy and rising employment how do we
straight belt I
well I mean I think each was kinda plays a different role like
where we are in the business of finding companies that go down that path
along the way there may be companies that raised money from angel investors
and see investments and down the path I got an exit someone made some money
and then but the but the balkan the investments that we make just by nature
of the where
on the structured we're looking for companies they can go to raise venture
capital they can get to a very large exit which is a very small percentage
will have that success rate but that's tomorrow
and that's the business that one part of the entire ecosystem investing in small
businesses which power
you know really the ball I'll are
infrastructure and the jobs and stuff is is is another
party different model I think they just played rollers
that's the one that and I plan today surge up your
you're spending the day today helping folks position their companies for
exit ability for growth or you know capitalization by
you know folks that are looking for expansion right yeah I mean for big
for bring exits but now that said most have
our company make it that way so it's also a matter
like I identifying the path that you can get some sort of way
so your if you have happening dollars and accompanying
it comes becomes clear you not gonna be able to raise 100 million and go public
okay what can you do there's a lot of successful exits that are in between
that you know that the Facebook send busier right
on so we just can't best looking for that necessarily
but we certainly more you know
throwaway company that sells for 2013 hugs so
so billion be be my I'm the the other side of the equation occurs to me
Goldman Sachs
you know premier private equity investor invest in large businesses growth
expansion turnaround they committed to 10,000 startups
with the notion of creating a fat bottom you know creating more who
more businesses ISEE the opportunity that you're driving and
in that the role that the time sure well I think we all know
Joris this is while you would like to know more about
equity funding you want to know more about how to me with the
dealmakers is your business may not even going down that path so
what are some of the other resources you know but the Goldman Sachs 10,000 small
business program
majorie the businesses we work with them I'm really
structural what other strategies how do you forecast sure growth
how you measure that growth and then on the other side of it is
is how can you be bankable arm how to use
use in front of all a banker an investor
an angel investor potentially a venture investor
but I think those are the pieces that business owners are looking for
we have the Los Angeles Regional Small Business Development Center network
that does also provides training and one-on-one advising
I think if I looked at the peace of the whole access to funding
is there are resources that are out there that really help business owners
to
position themselves to make sure that if it's not to dole
that you get the yes getting funding for your business
is how deep position that business so that you can get yes
arm along the way and in what about what are the use of those funds
many times a business owners have a great idea
they want to get funding for their business but we drill
the question is how are you going to use those funds
and what you know we have bankers from financial such
and how he didn't pay that that long for how you gonna pay that to you
to investors so on there are I just my suggestion there are resources out there
there specifically focused on I'll or
I'll a majority the business owners who don't really go for the investor funding
do it so yes the gentleman who dis raise the question
what opportunities to see and so the key come up to the Mike from
what opportunities do you see by in Southern California
for growth in the traditional small business sector
are there is that you would like to highlight moroccans
my concept for the opportunity is me we were all where the extractive
corporate entities here which or the one percent that everybody sees
be focused on but the development of what I call a commons
or the ability to as Buckminster Fuller was a
feed you know how many people can you feed for how many numbers
days that's a measure well so I think there's other measures a
well it was at this triple bottom line here
on that need to be par
developing a viable sustainable local economy
here that I'm focused on the
replacing or industrial infrastructure with agricultural infrastructure
replacing traditional agriculture with
technology here re
per person or saving money for social situations
creating value way corporations create value by cutting employees
yet so I think will you be on how we can
improve our real from our investment surely give worker or medical
insurance investment so how do we get-go
healthier rather than just in
germs it's really nice contribution you know I'm II I just if you don't mind
share I could share a *** when we talk talk about it as a high growth paradigm
in it's important that we don't distort
our view the poor economy by just focusing on the five at small
or better businesses are being created you know they're leaving the
accessibility
that high growth paradigm is very important for us to keep keep focused on
but
you know that 3x services business when you think about Southern California
logistics media I services
very long Ryan appointed driving sectors that
consumer the spectacle the describe sectors that are gonna drive important
receiving its couple more questions and people at a time sir
likely ship it ok I'll text marketing as an entrepreneur
been asked many times about different
facets how do you find skilled people took the liberty
researching this published a paper for hands-on America
it to my surprise is over six hundred eighty thousand jobs go unfilled in
america today
because they don't have skill sets taking a
clear look at this developed the strategy
how to put a program together to train people a good example
the average CNC Machinist here in america today is 54 years old
the average tool and die maker is sixty
how are you going to reassure america for all these jobs
when that at that age group is going into retirement
very soon how do you able to fund a non-profit organization
to do this teacher yep that's right some here a couple things the
the the deficits a tree based learning
that needs to occur this is boring compile than the other issues around
finding that fit for specialized needs in the economy that are being otherwise
aggressors like myself can't find people
right can't find people to Sol you know
portents filling it out would like to tackle it's a cool it's a good question
man I mean
ice actually see that problem one of the challenges
is that the younger a generations
there some there's a little bit like a
entitlement that goes into those generations and
its tough to get someone coming out if it's like passion about world to like
learn about a CNC machine and that's not to say that's not a great cast that
person that could be but
I think that plays into it and I'm not I'm not exactly sure how to solve that
because
they're probably a lot of people that could end up being having a great career
path going down that route and there is a lot of those kinda
functional job so there is some cultural shift thing that needs to happen younger
if we want our young people take on it fill those gaps and there's also the
whole
challenger whether or not those jobs are staying
here in the US because you can get similar things done cheaper elsewhere so
that plays into it as well
but I definitely see young people like having his passion to change the world
and the thought of becoming ASEAN's not no offense anyone that is a CNC operator
which is freaking rad by the way those are like the precursors to engineers
anybody that that's an engineer software engineer
the people that were previous operate before sovereignty was beeping they were
building stuff with
machines cell but I think that plays into it a little bit its
its I'm not sure how to solve thank you for sharing that with this is exactly
what this paper's
about passing the next generation
renaissance in manufacturing today is going to be
additive manufacturing its growing
parts yeah unless you know how to program a CNC machine yeah
you can't develop it that's a good that's a great point so if you can't I
in like engineering and programming in too many factions is happening with 3d
printing and so forth
if we can create a revolution around visible creation
%uh mechanical parts using programming and technology and stuff
you can probably inspire a lot a young people to get involved in that space and
create a lot of
lot a job that way we've got two things I like it can't really see
I'm sorry sir will have to buy movie I just wanted to be two things real quick
the first thing is I were love the common with the
makers movement and you know what's going on with the makers movement %uh
the notion maker spares are going around about getting people who
greetings and make things and celebrate that by
but do it more seriously the other things but I was having a massive heart
attack right now
at the is there a doctor in the house or someone what I hope that my yeah
I in this problem I T is there a community college educator in the house
could you raise your hands community college educators
I mean no kidding we need trade based training right we need to train for
these needs
and meet others are best positioned to figure out what employers need
and go and put all those jobs thanks for Long Beach
33 doctor simi roots by technology invest
Press I've had the opportunity now to work
boss silicon valley's here's sensuous
question really is as you look at those three different regions
how do you think the product based economies versus services
it's because there's some questions in terms of as the Los Angeles region
resorted
figure it out its DNA predominately service person
product and when I see product media
by Peter hand-written because
information you present has
*** implications whatever parts
your name I'm am am so
in what are the three community cement lost them the Silicon Valley
and the Los Angeles Orange Ridge
and prepared to throw in some ideas for their very different views
you have some answers already I don't know by the answers but I do know that
every region has separate a different
saddle the mic mixes
the mix is very different the industries that are competent here
are not necessarily companies you find in Boston are in Boston there's no doubt
I'd be put in the gas in life sciences
I and what's happening in bioinformatics and where the future a medicine is going
that's gonna be buses future solely in Bali is the future the transition to the
web
and I believe that allow the work you can find a lot of intersections between
this and the kids that are operating in Silicon Valley and those that operate in
Southern California
see all the time in fact most the money flows from Northern California Singapore
I think LA and particularly I want to address
I Long Beach I'm I think there's some amazing opportunities in
explaining your position with Hollywood right here you technology
you now democratizing media the talent base it's been
in production shops now is being opened up on the web so I think it's an
exciting opportunity
the other thing that this fabulous about this region is we're just
from but I II was very impressed by the amount of diversity
the other thing I gotta tell you is it's gotta be a multi-pronged apiece is $26
million people live in the
Los Angeles CSA thats how its disciplinary work in Southern California
general
in you know that's larger than a ninety-five percent of all states
it's an extraordinary ecosystem so there's no one answer
well thank you very much like being the peace you just mention
firms in rupees I started Peter
away in terms of biotech revenues
exceeds that many other reasons member noble prize
member pair so those are very interested
you're onto something around away ollie
we have some very unique assets years working actually
Stanford University where we've actually invited me up to talk
this turns out los Angeles is asleep inside
it's a totally in has guess what look at what's happening in Bollywood
as you're getting sample to extraordinary in think what we could do
with that
los Angeles has an inch so as we speak about matter for someone
people be about this idea it's a sleeping signs
it's around brand identity deviant with the right thing
tears starts I'd like to talk with you afterwards
because there's other cuts with worker invective
has a lot to be done I mean how you guys been easier to deal with the businesses
on the ground where using the big opportunities
he refuses to say were where said on LA in general and maybe
the Sparta Los Angeles or should we focus our energies what what markets
seamus most attractive
just and just very
large area is on like sickened by the world half an hour 45 minutes can go
from one place to the other
right so delay has its own long which is
homes orange county's on San Diego's on
I don't think there's one single answer
want to invest them think Kim at this about Jeff s Walter
pockets of are specializations between media
visual and software
there's probably a horse can be more medical device I'm
hardcore back and software vendors with you
mobile I'm I'm placement more permanent
latest firmware by attacking research at this is San Diego but not
as much thus relations with their pockets opportunities everywhere
the difficulties that people cannot connect enough
right so that Joe graphical business limits
our ability to to to connect more and two creates
more leverage for that reason I think
went to identified different pockets but could be self sufficient geographic
on this we find other ways to commit to be more ubiquitous but
somebody mentioned this morning that's pics first time between
just Liam orange county's soul that wasn't
use to start up the same way to connect with each other
investors panicked other to the specializes in are
gonna be based on what historically right through should have been good
so no word with sorry members so
was a problem at the full answer but it's a really it's a very good answer
actually
it's a good way to put it I'm I would Tony Blair's I'm here
I think the other part that we I mean we have the riches in Southern California
love havin so much diversity not only in the types of businesses that you can
start here
because the support because it's for the region what else that we have two
largest ports
world here southerners other so much that can go on international from any
other businesses
to be able to export so Eunos is we look at the future for businesses
is you know I works on the workforce investment boards
and for looking at is is how do we strengthen
what is good and each one of the area's arm within our region
and not try to be the net so Valley are but really look at what are our
resources in our community
so that we're looking at focusing on those clusters up the industry
that can be strongest in a particular area because with
the infrastructure in Southern California you just can't travel
everywhere very quickly on there's in for business owners expense to doing
that
so had would strengthen hearings
so we've been on time all morning and that we have to stand time but sir we're
going to
make the panel available to you on a one-on-one basis to rate right after
this if you could just come up right afterwards we'll take your question
individually we're between I the panels between us in lunch right
so I wanted by everyone to continue the hack over your lunch tables
hi the hack what will ultimately be the the
model ecosystem her Southern California and how do you build it
bike is that this morning at all both got your leadership so I don't think
my panelists for joining me today and I thought it was a really terrific
conversation
keep the wheels turning their during lunch you could thank you very much
mmm
do