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September 6, 2014

Why I Went VFA: Dylan Gordon

When it comes to the stories of how our Fellows chose VFA, no two are the same. Each morning at Fellow Training Camp, we ask one Fellow to choose one of Venture for America’s “credos” that really speaks to them, and tell the story of why.
2014 VFA Fellow Dylan Gordon tells his story below.


There is no courage without risk

Dylan Gordon (1)
When Ms. Lucy handed me a standardized test in the first grade, I sprinted out of the classroom.  That blue booklet, loaded with tricky, unnecessary questions, terrified me.  What if I answered a question incorrectly?  Would I be perceived as unintelligent?  I begged to call my mom; I was simply too overwhelmed to carry on. It was around this time that I started seeing Dr. Strongin, a psychologist whose practice was located in my town.  I hated our weekly sessions.  Having to explain my fear of failure to another individual was an arduous and frustrating task.  Listening to his generic, scripted responses was even worse.  But I will never forget the last session I had with Dr. Strongin.  I walked into his office, seated myself on the couch facing the clock, and waited for the typical “tell me about your week” icebreaker.  That introduction never came, but what did come was a statement that has never left me.  He said, “Dylan, Alex Rodriguez is the best player in baseball.  But you know what?  His batting average is only .333.  How can you expect yourself to be perfect if Alex Rodriguez gets on base just one-third of the time?”
Nothing about this assertion was new to me.  I knew Alex Rodriguez’s batting average like the back of my hand.  Yet, I had never thought about baseball, or anything for that matter, in this light.  I left the session with an interesting, new perspective, and most importantly, a framework to which I could revert.  But that session did not completely heal me.  I still feared failure more than anything, and I needed a way to resolve said fear.  So over the next few years, I did what any other kid would do: I started to plan my entire life out.  I figured that if I could execute the plan perfectly, I would never have to stare failure in the eye.  I worked on the plan for years and witnessed its evolution from broad statements to polished details.  By the end of my freshmen year of high school, the plan was complete.
The crazy thing was, I executed the plan to perfection.  I was accepted into my first choice for college, majored in my desired disciplines, earned my real estate license while teaching tennis, and interned in the professional sports industry for two years.  Having valued personal execution as the most meaningful aspect of my life, I was cruising.  But I was only cruising on the surface; internally, I bottled my emotions, dreams, and desires in favor of flawless execution.  This was my accepted mentality for as long as I could remember.  But on the final day of my internship last year, I came to a startling realization that would forever change the course of my life: I needed to put myself before the plan.
And so I did.  I started engaging in daily self-reflection sessions, which assumed the same format each time.  Suffice it to say, I learned more about myself during these sessions than in any other time in my life.  More importantly, I finally discovered my true passions and dreams: I wanted to build something from the ground up and create value in doing so.  Yet, I would be lying if I told you that I was not scared about aborting my plan.  I was petrified, nervous, and unsettled.  In fact, I continued applying for jobs in the sports industry (part of the plan) to mitigate any risk of failure.  Furthermore, I was dealing with skepticism from the people that knew me best.  My friends did not understand why I was pursing another life route, and it took my parents quite some time to get behind my decision.
But this was about me, not a plan.  It took me long enough to realize that, and I refused to revert back to my old ways.  So when I look at the credo, I am immediately drawn to, “There is no courage without risk.”  I just went for it.  And even though this was the biggest gamble of my life, I am now okay with not knowing what the future holds.  Why?  It goes back to something I learned from Dr. Strongin, something that I dismissed at the time but now value greatly.  That is, there are two options in life.  You can either rise to the challenge or simply watch others accomplish what you didn’t have the guts to try.  Thank you.

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September 5, 2014

VFA Update: Training Camp, Birthdays, and Summer as a Fellow

Check out our latest newsletter for an update from Providence, RI, where our Fellows are well into their startup Training!

 

Dear VFA Friends and Supporters:

Summertime and the living’s easy… unless you’re a VFA Fellow, that is. While most of us are gearing up for the most patriotic day of the year (and our favorite holiday at VFA!), our Fellows have landed in Providence, RI and launched into 5 weeks of rigorous startup training.
Luckily, we’ve found 100+ Fellows for the Class of 2014 who are not only ready to take on the challenge, but excited to spend their summer learning everything they need to hit the ground running at their startups in August.

Training Camp… It’s all we can think about. It’s all we can talk about. And as our friend, we didn’t want you to feel left out. Read on for updates, and you’ll feel like you’ve been right there with us.

Check out what’s happening with #VFAbootcamp Live!

Meet Mike Patterson. He’s one passionate Fellow. 

Mike Patterson is many things: a newly minted UPenn alum, a crazy-skilled programmer, and now… a VFA Fellow. We’re so excited to have Mike as part of the Class of 2014, and last week he wrote a blog post about his journey with VFA so far, why he’s excited about Training Camp, and why “failure isn’t an option”. We couldn’t have said it better ourselves.Check out Mike’s post here, and learn more about the rest of our Fellows here.
Training Camp Top 5: What’s been happening in Providence?
So what’s been covered so far at #VFAbootcamp? How about UI/UX design, basic programming, sales, public speaking, Excel, staying healthy in the work place… and those are just the trainers. We’ve been lucky enough to supplement all of the above with visits from real entrepreneurs and angel investors to give Fellows the inside scoop on the world they’re heading into. 

It’s hard to pick just 5, but here are some highlights from what our Fellows have been up to for the past two weeks…

 

1. Redesigned the VFA Website. Training Camp kicked off with a bang as each Fellow group did a startup-weekend style redesign of the VFA Website. After learning all about UI/UX design from Graphics Institute of America Co-founder Jennifer Smith and getting a crash course in basic programming from The Flatiron School, the Fellows spent the next 30 hours reimagining our current site. What they were able to accomplish in that amount of time was incredible… so incredible, that we may even have to take some of their ideas for our own website revamp.2. Spent an afternoon with David Rose and Gary Chou. What’s the best way to see yourself through the eyes of an investor? Hearing from the experts themselves, of course. We were lucky to have David Rose, serial angel investor and founder of the New York Angels come by to talk about what he– and other angel investors– are looking for in the companies they help get off the ground. Then we wrapped up the week with Gary Chou, who’s held product roles at startups and big companies alike, and most recently managed an impressive portfolio of companies at Union Square Ventures. He also happens to be a VFA early-adopter, Fellow mentor, and generally awesome person.3. Heard some awesome stories about what brought our Fellows to VFA. One of our favorite VFA Training Camp traditions is hearing from our Fellows each morning about why they chose VFA, and which of our five “Credos” speak to them the most. Whether it’s “My career is a choice that indicates my values” or “There is no courage without risk”, we never get sick of hearing about the journey that led them to VFA. One Fellow, Swad Komanduri, brought down the house with his story about how he became a Cal Tech engineer to get a job that mattered, but slowly realized that he needed to follow the path less traveled (VFA!) to actually make that happen.4. Got a visit from a Rhode Island Senator. That’s right! At the end of week 1, we were lucky enough to start the day with a visit from Senator Sheldon Whitehouse, who has dedicated himself to helping small businesses grow in Rhode Island and couldn’t wait to meet our newest class of Fellows. We’re so glad we have the chance to spend 5 weeks in Rhode Island, and that our Fellows have been able to have an impact on Providence over the past two years. Can’t wait to see what they do in year 3!
5. Reunited with the 2012 and 2013 Fellows
For a few days this week, 2012 and 2013 Fellows from all over the country came to Providence for a big #VFAFamily reunion.  The 2014ers got a chance to connect with older Fellows over lunch and at the 2012 Class Graduation/Alumni Launch.  Emotions were running high at the 2012 Graduation, as VFA got its first ever class of alumni – it was inspiring to hear stories from the 2012ers and learn about the big things they’re going on to do!
David Rose (left) and Senator Sheldon Whitehouse (right) had plenty to say to our Fellows when they dropped by in Week 1.
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The 2012 and 2013 Fellows connected with 2014ers about their cities over a picnic lunch.
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Fellows and VFA team at Providence’s G Pub for a mixer with our board members!

Want to join our awesome team? We’re hiring!

 

We’re energetic. We work really hard... and we also have more fun than anyone we know. Check out our current job openings for your chance to join our killer team!

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Become a Community Marketing InternAre you a student who loves connecting and building relationships? Are you energetic and enthusiastic? Do you love startups and VFA?We want YOU to become a Community Marketing Intern.
Learn more today!

Fellow-led Detroit startup Banza gets a shoutoutIf you follow VFA, you’ve probably heard about Banza— a chickpea pasta company founded by 2012 Fellow Brian Rudolph. We love following his progress and success– and really loved the recent article published about Brian’s journey as a founder so far. 

Want to get involved in VFA?

You can…
– Become a Mentor
Make a Donation
– Spread the Word
… and more!
For more on how you can help, e-mail us at info@ventureforamerica.org.

Smart People Should Build Things by Andrew Yang

HAVE YOU GOTTEN YOUR COPY YET?

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Wish us a Happy Birthday and get some sweet VFA Swag! 
Our birthday is just a month away, and we want you to help us celebrate! In a few short years, we’ve trained and placed more than 200 Fellows in 12 budding entrepreneurial hubs across the country. And now, we’re ready for the next challenge. So what’s on our birthday wish list, you ask? For the first time, we’re making our awesome VFA swag available to the public– and we want you to rock it!Here’s the deal… Click here to make a donation and receive a hoodie, t-shirt, tank, onesie or one of our other cool items. Your birthday gift can help support our work in cities across the U.S. 
Show your support and get your swag today
Thanks for supporting VFA! We look forward to keeping you up to date on our progress.

All the Best,

The VFA Team and the Class of 2014

 

 

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September 4, 2014

What’s College Good For?

In a recent Op-Ed published on FastCompany.com VFA Founder, Andrew Yang, discusses the future of the “traditional university” and why so many parents want their children to go to top tier schools as opposed to their state’s public universities or community colleges.
Check out the Op-Ed below and read more on this topic in Andrew’s book, Smart People Should Build Things.


Originally published on FastCompany.com
Most everyone agrees that an education revolution is at hand. With the advent of the Khan Academy, MOOCs, Coursera, Udacity, edX, the Minerva Project, and an ever-growing set of tech-enabled learning tools, it seems that the university-as-campus model is on the verge of being disrupted.
And yet applications to top universities are at record highs, and Ivy League acceptance rates, as reported in March, are at record lows of 8.925%. Is this just a lagging indicator or a sign that the traditional university is here to stay?
To answer this, it’s helpful to examine the motivations of the average college applicant and his or her parents. Why do so many people want their children to go to Harvard as opposed to another private university, their state’s public university, a community college, or even an online program? Here are some of the reasons:
Scholarship. The professors at Harvard are smarter and more world-renowned, and so your child will learn from a pre-eminent scholar who is a leader in his or her field. Some of Harvard’s professors are even famous.
Credentialing. If your son graduates from Harvard, people will regard him as smart and highly qualified for the rest his life and give him access to opportunities. He’ll be able to get any job he wants.
Network. Your daughter will go to school and become friends with people who will go on to achieve great things, many of whom may even come from prominent families. Also, being around other very smart people may make her smarter.
Socialization. Your child will be trained to think of him or herself and interact with the world as a Harvard man or woman. He’ll become someone who’s comfortable and confident in a position of privilege and resources, perhaps through interaction and participation in various teams, clubs, activities and societies. And he’ll go through a series of post-adolescent/pre-adult social experiences that will prepare him for the world at large.
For most, scholarship is secondary to credentialing, network, and socialization. Very few parents keep up with who the top professors are or whose classes their kids are taking, partially because most undergraduates interact more commonly with graduate students. Parents are interested in what their children major in (say, finance vs. philosophy) but there’s a certain degree of confidence that any competent physics department will teach the laws of physics, and that those laws stay the same regardless of the professor involved. It’s less about the book learning, as long as it operates above a certain level and comes with a degree, and more about the credentialing, network, and socialization that their child will benefit from.
This speaks to the limits of online education. You can log on today to take a Stanford or MIT computer science course right now. Yet applications to Stanford and MIT are going up, not down, because people don’t go to Stanford or MIT to take the computer science course. They go to Stanford and MIT to get a degree (which demonstrates that they were smart enough to get in and persistent enough to graduate), to make friends and lifelong collaborators and companions, and to go through a battery of experiences that will make them different and presumably more successful people.
Online education and technology are doubtless going to change how we learn in the years ahead. Remote learning is inexpensive and brings down the cost of near-universal access. But the conception of education as “content” or even how we learn and absorb specific bodies of knowledge misses many of the key value drivers of educational institutions as they currently function.
So what does the future hold for education? There are likely to be at least two futures for people seeking different things. If you’re motivated and want to learn a skill or set of facts, like how to build a website or how to find the derivative of a curve or the causes of the Civil War, you can log on and learn quite freely. If you want to assume an identity, signal to the marketplace that you’re a good fit, make friends, and be in a specific formative environment, then there will be a university and campus (and educational loans) waiting for you. Schools will increasingly and explicitly compete in terms of selectivity, network, preparation for opportunities, and the social experience (including facilities) as opposed to content delivery. The schools most likely to be disrupted are the lesser ones that don’t offer high value-adds in these dimensions. There will be a continued race to the top even as access to content spreads, leading to an hourglass structure of top programs and inexpensive online options with fewer in between. Harvard will be Harvard for a long time.
This also suggests that disruption may come in a different way than people expect. Imagine if an already prestigious institution, like McKinsey or the Aspen Institute, or even a forward-thinking upstart organized a program and said, “Look, we know that book learning and skills development are important. But we think you can do that on your own with a little bit of help and guidance. We’re going to focus on three things–screening people so that all participants are of the highest quality (whatever that means), getting you to be good friends with each other, and going through common experiences that will form bonds and a shared sense of identity and purpose.” As long as they conveyed this value proposition effectively to the market, such an institution could wind up being more the Harvard of the future than any online university.

Posted in: News, Inside VFA
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September 3, 2014

VFA Update: New Cities, New Ventures, and a VFA Party

Want to know what’s going on at VFA? Check out our most recent newsletter below, and if you haven’t already,
sign up to stay in the loop with more updates like this one!

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Dear VFA Friends and Supporters:

Happy Spring from Venture for America HQ! While our 2013 Fellows continue to work hard in their cities across the country, our 2012 Fellows are looking ahead to the future, with some even ready to start companies of their own (check out one of them below!). Meanwhile, we’ve been adding new partners, new cities, and most importantly, new members of the Class of 2014. Read on for more updates on what’s happening at VFA. 

Tickets are now on sale for the 3rd Annual Summer Celebration!

We don’t know about you, but we can’t think of a better way to kick off the summer than attending this year’s Detroit-themed #VFAParty on June 5th. Past speakers have included Tony Hsieh, Arianna Huffington, and Jeff Weiner, along with sponsors like the Huffington Post, American Express, and more. So… what do we have in store this year?

We’re thrilled to welcome Chairman & Founder of Quicken Loans and Rock Ventures, Dan Gilbert, joining us all the way from the Motor City to talk about his work transforming the city through real estate investments, placemaking initiatives and the relocation of his businesses and employees to downtown Detroit.
We hope you can join us to celebrate our new Fellows, the graduation of our inaugural Class of 2012, and all our efforts over the past year. Tickets will be on sale now through June 4th, but DISCOUNTED TICKETS ARE AVAILABLE through May 15th. Get them while you still can! 

Other special guests include:  Charles Best, Founder of DonorsChoose; David Brooks, Author and Op-ed Columnist, New York TimesAlisa Volkman, Co-founder of Babble.com; Dave Gilboa, Co-Founder & Co-CEO of Warby ParkerDhani Jones, New York Giants & Fox Sports 1Donald Katz, Founder & CEO of AudibleCyrus Massoumi, CEO & Founder of ZocDocJon Oringer, CEO of Shutterstock and many, many more. Check out the full list here.

Fellow Founder Spotlight: You know those days when coffee just won’t do it? 

Fellow James Fayal found himself having those days… well… everyday when he first started working full-time. But unlike the coffee-addicts out there, he wanted an alternative way to stay alert without the side effects (and thought some nutritional value would be nice, too).  So what’s a Fellow to do?After he and another Fellow, Rickey Ishida, started looking for healthier ways to get the jolt they needed, the VFA pair realized the options were pretty limited. So in true Fellow fashion, they started blending their own teas, and eventually were getting requests from friends who wanted to get their hands on some super-tea of their own. 
And so, Zest Tea was born– a
 caffeine-packed line of teas that comes in flavors like Apple Cinnamon Black and Pomegranate Mojito Green (mmmm…). Now, Zest Tea has been filling orders since January and have already sold over 400 tins (including quite a few to VFA HQ…). We have to admit, we’re pretty big fans. (Bye, energy drinks!)Want to get your hands on some ZestTea?  Visit GetZestTea.com today to support our Fellows and try it for yourself! 

New Fellows, New Cities… Welcome to VFA Year 3.  

Since last fall, we’ve been stacking the Class of 2014 with a new group of impressive and hard-working entrepreneurs-to-be. With our last deadline passed and one more selection round to go, we’re 80 Fellows strong for 2014 and can’t wait to round out the group later this month. Meet a few of our newest Fellows below…  

Muhga Eltigani, U. of Pennsylvania ’14
Worked for the EPA, interned for a startup, and was a consultant for a firm in Ghana. A Philly native who wants to help reviatlize her hometown. 
Austin Rhoads, Elon University ’14
Dual Marketing and Business major who has started three small businesses, including a consulting firm and a lawn-care company
Swad Komanduri, Cal Tech ’13
Helped start ReMaterials, a cleantech social venture that repurposes waste into affordable shelter for slum inhabitants in India 

And here’s where you can find us this year…

Along with our current 8 VFA cities– Baltimore, Cincinnati, Cleveland, Detroit, Las Vegas, New Orleans, Philadelphia, and Providence– we’re so excited that this year we’ll be sending Fellows to help build businesses in 4 more budding startup hubs. Team VFA has been out pounding the pavement for the last few months determining which cities have the companies and capital to make it happen.
So where in the world (uh, America) will you be able to find us in 2014? Check out our new cities below!

  • COLUMBUS
  • MIAMI
  • SAN ANTONIO
  • ST.LOUIS
Andy Chatham, VFA ’12, along with Adam Joseph ’13, Shilpi Kumar ’13, and Ali Sheppard ’13 spearheaded the planning of the first City as a Startup conference.
City as a Startup: VFA goes to Vegas

Sure, what happens in Vegas is supposed to stay there… but we couldn’t keep this one to ourselves. We want to extend a special thanks to our Fellows and supporters at Downtown Project in Las Vegas for hosting Venture for America for the first ever City as a Startup conference!
Over 100 VFA team members, Fellows, and partners from our cities descended on Downtown Vegas to hear from Keynote speakers like Tony Hsieh, CEO of Zappos; Graham Weston, CEO of Rackspace; and a handful of other leaders spearheading the charge to turn their cities into entrepreneurial hubs across the country.
We learned a lot, had even more fun, and can’t wait for the the next City as a Startup conference (which already has cities like Detroit and San Antonio interested in hosting). Let the countdown begin…

We’re looking for summer interns! 
We’re a small, hardworking, passionate team, and we also have more fun than anyone we know. Sound like a good way to spend your summer?  Visit our jobs page today for more info.
Join Team VFA

Get a peek inside VFA HQ

The Muse recently paid a visit to VFA HQ to meet our quickly growing team, explore our office, and help us show off all the awesome things that happen day-to-day. We know you’re curious. 

Want to get involved in VFA?

You can…
– Become a Mentor
Make a Donation
– Spread the Word
… and more!

For more info, join us at our next VFA Meet and Greet in NYC on Tuesday, May 13th! 

RSVP Here

You’re invited to the VFA Summer Celebration!

June 5th, 2014
7:00-11:00pm
IAC HQ: 555 W. 18th St., NYC
Keynote Speaker: Dan Gilbert, Founder & Chairman of Quicken Loans and Rock Ventures
Get your tickets today!

Smart People Should Build Things by Andrew Yang


HAVE YOU GOTTEN YOUR COPY YET?

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September 2, 2014

[EXCERPT] The Qualities We Need

Check out the latest excerpt from “Smart People Should Build Things” as seen on FastCompany.com. Purchase your copy today at www.SmartPeopleShouldBuildThings.com!


A friend told me about a young Princeton graduate she knew named Cole. Cole studied mathematics and went to work for a hedge fund directly out of school. He’s now making well into six figures at the age of twenty-four. That’s his whole story to date.
That’s success and the American way. And yet how excited are you about Cole’s trajectory? Think about it for a second. I’ll admit that I’m not too psyched about it, even though I have friends at hedge funds who are very intelligent, stand-up guys and even philanthropists, and I know that hedge funds are positive in that they provide diversified investment opportunities to large pools of capital.
My lack of enthusiasm comes down to a few things. If Cole successfully analyzes an opportunity for the hedge fund and it invests slightly more effectively, that will be a win for the fund’s managers and its investors. But there will very likely be an equivalent loss on the other side of the investment (whoever sold it to them makes out slightly less well for having undervalued the asset). It’s not clear what the macroeconomic benefit is, unless you either favor the hedge fund’s investors over others or have a very abstract view toward capital markets working efficiently.
Cole is almost certainly very smart. But what has he done to merit his almost immediately elevated stature in life? He’s never hazarded anything. He hasn’t demonstrated any outstanding character or virtue, unless you consider studying math and being really smart intrinsically virtuous. He’s never had to go against the grain or go out on a limb. His rewards seem a little bit exaggerated for his accomplishments.
Finally, Cole’s life is very quickly going to become quite different from that of the vast majority of humanity. His housing, education, and professional circles will take him into rarefied air. He’ll donate to causes and he’ll retain an intellectual interest in policy matters. But his experiences are going to be wildly divergent and probably make it tougher for him to understand others’ customary everyday concerns and struggles over the coming years. Ultimately, Cole’s pursuits don’t reflect a sense of value creation, risk and reward, or the common good.
Not to say that Cole’s not a good dude. I have no idea. I’ve never met him. And if your daughter got engaged to him five years from now you would probably think she was all set (and your grandkids would be good at math).
Our culture of achievement has grown to emphasize visions of success that are, for the most part, fairly predictable. Cole skipped a couple of steps. The basic plan is to go to Goldman Sachs, McKinsey, or the like, then maybe to a top-ranked business school, then back to banking, consulting, private equity, hedge funds, or a name-brand tech company. Or maybe go from law school to top firm to partner or in-house at an investment firm, and live in New York, San Francisco, Boston, or Washington, DC.*
Again, these institutions and roles are necessary, and they’re natural developments in our economy. We need them. But we need people doing other things too. We need people willing to take risks and, yes, to occasionally fail. Like real-world consequences fail. We need people committed over extended periods of time to creating value, no matter how hard that is. We need people who care deeply about the work they’re doing.
Imagine someone who you think could stand to take on some risk—someone well educated who would always have something to fall back on, whose family might have some resources so he would be unlikely to starve. And this person would probably be young and free of major life obligations. Someone sort of like . . . Cole.
What’s interesting is that many of the people I meet who are young, highly educated, and from good families are among the most risk-averse. They feel like they need to be making progress along a ladder with each passing month or year. Their parents have often set high expectations for them. They measure themselves each period against their peers, who are generally following various well-defined paths.
Yet, as Reid Hoffman, the founder of LinkedIn, and others have pointed out, remarkable careers are unlikely to advance in a straightforward, linear fashion. They are more likely to contain breakout opportunities that lead to unusually rapid gains (and, of course, relative dips and plateaus).
We need smart and hardworking people to build businesses around the country as much as or more than we need them to do anything else. We need more intelligent risk takers and value creators who see their communities reflected in the work they do. We need to restore the culture of achievement to include value creation, risk and reward, and the common good so that more of our top people are in position to create new enterprises and opportunities.
If we succeed in this, our best and brightest will build the engines of future economic growth. If we don’t, our talent will continue to heed purely market-based incentives, our economy will likely continue to underperform, and our culture will become more and more bifurcated.
I just had a son. I’d like him to be very well educated. But I don’t want him to necessarily enter a parallel universe where everyone is smart, well paid, and well dressed while the rest of the country wonders where the jobs went.
This is easy to say, but very hard to achieve. People like Cole have every factor turning them toward their current choices; they’re heavily recruited and offered money, prestige, training, a network, community, and opened doors. Expecting people like Cole to completely ignore these inducements is unrealistic.
What would the ideal be? There’s a renewable energy startup in Providence, Rhode Island, called VCharge that probably could have used Cole too. Its chief science officer, Jessica Millar, has a PhD in math from MIT. VCharge is trying to make our energy grid more efficient using energy storage and transmission algorithms. It’s not a sure thing, but if it succeeds we’ll all be better off for it.
How could you get Cole to head to VCharge instead of to the hedge fund? First, you would hope that immediate income maximization is not the main driver—maybe Cole has a longer time horizon, believes he can make money down the road, and thinks that tinkering with the power grid sounds interesting. Maybe he even has an instinct toward value creation, building things, and having an impact. And second, you could employ resources to recruit him and offer him prestige, training, network, a community, and open doors to head in that direction. You could make it a rational, principled choice as opposed to a vague hope that he decides to do something value creating.
One entrepreneur I met said, “You don’t want to be in the army, you want to be an arms dealer.” He meant that you want to build a business that doesn’t rely upon someone winning or losing but that would benefit from supplying both sides (say, a component manufacturer like Qualcomm that sells to all smartphones, as opposed to a smartphone manufacturer that has to duke it out in competition with the others).
The quote sounded smart, but I’ve concluded that if our young people all follow his advice, we’re sunk.
One reason the finance business is always busy is that it functions much like the arms dealer. You don’t need to figure out precisely who’s going to win or lose. You wait until a business gets to a certain point, and then you help them access capital in the form of equity or debt, give them a credit line, and help them get acquired. And if a company goes down, you’re there to assist with reorganizations, divestitures, and
bankruptcies.
Yet the real innovation and value are being created by the fighters who are forming little squads and cobbling together businesses. Some fail, some succeed. If they succeed, they wind up building an army that’s providing new software, better services, tastier food, or whatever else the world needs. They also create organizations that form the character of the people in the army who believe in what they’re doing.
Which would you rather have, better arms dealers or better fighters? And which should our young people want to be?
Personally, I always dreamed about going into the woods and fighting the dragon, not selling the guy a sword.
* There’s also the path of going to med school, becoming a surgeon or other specialist and performing procedures three or four days a week. We have an acute shortage of primary care physicians because the achievers we cultivate to be doctors adopt rational incentives: if they specialize they’ll make more money and likely work fewer hours than if they’re frontline doctors who see patients every day.


From SMART PEOPLE SHOULD BUILD THINGS by Andrew Yang© 2014 Andrew Yang. Reprinted courtesy of Harper Business, an imprint of HarperCollins Publishers.

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September 1, 2014

CBS Evening News visits VFA Training Camp

This summer while we were at Brown University in Providence, CBS Evening News came by to find out just what our Fellows are all about.

Check out the video below to hear from Avery Houser (’13) and Mike Mayer (’12), see the Fellows in action at Training Camp, and even get a peek inside one of our Providence partner companies, Teespring.

Posted in: News

VFA Has Ceased Operations


Since its first cohort in 2012, Venture For America (VFA) has championed entrepreneurship, innovation, and economic growth across the nation. As of August 6, 2024, VFA has ceased its operations. While this marks the end of an era, it also provides an opportunity to reflect on the extraordinary accomplishments and lasting impact that we have achieved together.

Please click here to read the full update.

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