Obama and Entrepreneurship

Last night while watching the election coverage, a good friend of mine sent me a text questioning how I expected Obama would accommodate my entrepreneurial lifestyle.

I've had various thoughts on this, but his inquiry was the first time I've written any statement.

Here is the response I gave to him -

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Obama will certainly change the US entrepreneurial climate drastically, both in an economic sense and a social sense.

Economic Shifts

• The traditional model of of entrepreneurship will face a downsizing in the overall industry, limiting the amount of entrepreneurial activity our economy can sustain. A rise in capital gains taxes will limit the incentive Venture Capitalists have to invest in startups.
• Obama certainly recognizes the economic value of small business and start-up acitivity. He has suggested various measures such as an employment tax credit ($500 per employee to small business owners) to apply towards health care and other benefits. Also, he has pledge to develop job creation incentives, as well as small business lending aid initiatives.
• Ultimately, I believe Obama will shift the enormous entrepreneurial energy towards something that is more constructive for our economy as a whole. There may be less financial capital available, but it will still be there.
  

Social Shifts

• I believe Obama will help facilitate an environment where all various types of entrepreneurship carry elements of social entrepreneurship. This means that entrepreneurial activities will be incentivised by more than the prospect of personal financial gain. New business endeavors will carry elements of creating a social well-being, along with economic prosperity.
• I do not think it is a coincidence that the regions of the US which are the hotbeds of innovative and entrepreneurial activity are also the most socially progressive in their political thought (San Francisco/Bay Area, Colorado Front Range, Boston Area). An overwhelming majority of the technological achievements which make our everyday lives better come from the regions most concerned with social welfare and wealth distribution. Obama will shift the overall entreprenuerial climate to be more like those with the most innovative success.
  
• Socially conscious entrepreneurial efforts, such as green entrepreneurship, small business in impoverished regions, and non-profit development will become far more prevalent under an Obama presidency through various economic incentives.
  

Ultimately under Obama, entrepreneurship will be less financially rewarding. However, I doubt most entrepreneurs and small business owners will take issue with that. It is doubtful that the next Rockefeller will emerge anytime soon, or ever (even Warren Buffet and Bill Gates combined don't come close to Rockefeller's fortune).

Entrepreneurs generally have a command of wealth which many other people lack. Money is simply a tool to make one's self effective, it does not offer self-worth or validation.

I believe Obama will help harness the entrepreneurial spirit and derive world-changes which are far more valuable than any dollar figure can quantify.

A Life of Moments

I just voted for the first time in my life. Political commentary aside, I've seen a lot of hype about that first moment of political participation.

However, throughout the course of my life, I've learned not to put a lot of stock in a simple moment. Time after time, people tell me that a certain moment will be amazing, incredible, or even life-changing.

More than not, upon reaching these moments, I've realized just how over-hyped they were. I believe that the value of an experience has no confine of time. The derivatives are infinite. Attempting to place inordinate enthusiasm on a specific moment is selling short the overall experience.

Here are a few examples of the moments I am speaking of -

• First solo flight
• Getting laid for the first time
• Initiation into a fraternity
• First time voting
• Skydiving
  
• First sight of (any major piece of art or landmark)
• Religious transformation
  

The list goes on....

Ultimately, I don't want to live my life always looking forward to a moment in the future, or finding solace in a moment in the past. Whether it be saying "I do", reaching a seven figure bank account, having a kid... moments are meaningless to me.

Rather, I will endeavor to find value in overarching experience, to live life as a moment.

Recent Journeys

I recently returned from a journey which yielded a vast number of new experiences and enlightenments.

In the days and weeks leading up to my departure, I immersed myself in financial news, succumbing to ever-present talking pundits and info feeds of cable news and the internet.  

My recent journey served as a wonderful release from these info dependency and allowed me to see first hand some of the financial environments of various places around the country.

I traveled to the poorest place I've ever been in the United States (Jackson, MS) and some of the richest (Beverly Hills, Bel Air, etc.).  

Jackson is an interesting place in that the city is absolutely decimated by poverty, yet has wealthy areas.  Instead of pursuing legitimate economic growth to alleviate this blight, the young demographics with opportunity pursue careers of either medicine or law.  It is a place which epitomizes the rich getting richer and the poor getting poorer.

Why do our current economic systems seem to always yield this result?  Poverty is very real, and yields destruction upon everyone.  Why do the people with opportunity simply pursue their own prosperity, rather than the prosperity of society?

Final Jeopardy

Category: The Emmy Awards

Answer: A former screen actors guild president, he's the only actor to win both comedy and drama emmys for playing the same character.

My Guess: Grammar

Response: Ed Asner

Running

I'm a Yelper

In exploring new ways to use my iPhone, I've started to become an avid business reviewer on Yelp.com

Here is a map of the reviews I've done.

Recent reviews by Austin J.

What's this?

Running

I downloaded a cool new app on my iPhone called iMapMyRun which will keep run logs and analytics for me.

Here is map of the first run I did with it.

Jessica and I ran around a lake in San Diego.