tv Back from the Brink BBC News August 18, 2018 2:30am-3:01am BST
quote
2:30 am
in the southern state of kerala to see the devastation caused by the worst floods there in a century. weeks of rain have triggered landslides and floods killing more than 300 people. a state funeral for some of the victims of the genoa bridge collapse will take place in the city later on saturday. 38 people are known to have been killed with the search for another five continuing. the government has begun action against the motorway management company. the former cricket international, imran khan, will be sworn in as prime minister of pakistan in a few hours‘ time. he won last month's election on a pledge to fight corruption and to lift millions out of poverty. his opponents are continuing to claim that the voting was rigged. now on bbc news — more from the money & power season. this week's programme profiles the lives of three entrepreneurs on their way back from the brink. they say that to be a successful entrepreneur, you have
2:31 am
to experience failure. thomas edison, considered the greatest inventor of his time, went through 10,000 prototypes to make the light bulb. the business magnate henry ford twice filed for bankruptcy before he revolutionised the car industry. these three entrepreneurs have faced extremely tough tests. now they are starting again. it is not always easy to pick yourself back up. we needed to fire great friends. for me, it was the most difficult thing. failure can come with a lot of baggage. if i'm facing that same failure again, then will i be able to get over that again? like, maybe not. and the struggle to build a viable long—term business is fraught with challenges.
2:32 am
i have no answers right now, and the stock, and no games and no idea what is going on. can they overcome the obstacles they face and turn everything around? seoul, south korea, a city powered by 10 million people and home to a young entrepreneur with big ambitions. for her, engineering is a man's world, but it's her passion. told that it wasn't an acceptable subject for her to study, she would sneak into her male friends' seminars at university. now 33, she is fighting to establish herself as an engineer. she wants to change the way we make electricity through portable water—powered generators. running water contains maybe the most efficient and stable energy resource, so if you have a great product
2:33 am
to harness energy from the river, then that would be the most stable and successful energy resource for us. this is the product she came up with, a portable generator and battery driven by water. she says it will produce enough energy to power lights and charge phones. her fledgling company has started selling in korea, europe and the us, and now she is about to embark on an ambitious and risky expansion programme. by integrating multiple units, then it will be able to power more electric products to power homes and villages. if she can prove it is possible to scale up her units, she could substantially increase our revenue. it all comes down to
2:34 am
a crucial river test. but it's a gamble, and she has tasted failure before. five years ago, she was bankrupt. ten years ago, the sunglasses company absurda launched in brazil. its ceo had high hopes of making a splash in the competitive fashion world. but the business was brought under by counterfeits, which flooded the market. now, he has brought his company to america, where he hopes he can turn his fortunes around. he is in serious financial difficulty. this warehouse in miami is home to 1a,000 pairs of unsold glasses. and rafael is down to his last few thousand dollars. to break even, we would need to sell around 1000 pairs of glasses monthly. in the average price of $70—$80,
2:35 am
something like that. and we are selling around 200 pairs of glasses monthly. it is not easy to figure out now, because i prefer to think and to expect the best, and i know the best is yet to come, but i would say i have now two different possibilities of people to invest in the company. so i will know if they are going to invest or not in the next few weeks. rafael desperately needs an investor to make a success of his business in america. his wife and young son moved with him from brazil, but they are fast running out of money and options. they found support in miami's brazilian community and services at a downtown church. what is the biggest challenges you face right now? the biggest one? the biggest one i would say is to adapt here with my family. with the whole family,
2:36 am
and everything. and maybe the business, and to figure out what to do nowadays. so everything is new and we are starting from scratch. i was 14 years old when we arrived here in miami. and i guess one of the biggest challenges, and i think every immigrant has, is you come with a mindset of how things are going to be, you come with a plan, you come with an idea. but when you actually arrive here, it is totally different. rafael has gone through a lot, but he still has faith that he and his business can be a success in america. this is a tv show that never got past the pilot. hey, check it out. it's the work of a small team led by the american—israeli entrepreneur miriam lottner.
2:37 am
an experienced tech expert, she is passionate about encouraging girls to get into science and maths. when miriam's twin daughters were born, she began to worry there were not enough role models for girls in these industries. can't you see? i'm building a 3—d printer. sensing a gap in the market, she and a business partner created purple & nine. related to them is that they were real people that we brought along on a journey and i really believed that if we can get sort of a mass following behind us, if girls can meet and fall in love with them and these characters that we have developed, then it was clear to me that we were going to be on tv. hey, purple, check it out, look what you can make. seeing the artwork for the first time and watching the animations, it was life—affirming. it felt like, wow, these are characters that need to exist. listen, we'll figure this out. how hard can it be? we had all the scripts, we had ten essentially episodes already written and ready to go.
2:38 am
miriam tried to raise crowdfunding support for her project. we went on indiegogo, our campaign was not successful and we did not raise the necessary 50% within the first three days, so that we knew that it was essentially over. and once you have failed on a crowdfunding platform, you're kind of closed out of institutional investors. it is little bit to have this big loser stamp on your forehead, like she did not even raise. in total, miriam lost $50,000 of her family's money. the days and weeks following, i'm pretty sure that i was hiding under the covers in my room. i was depressed, i was devastated, i felt like a complete loser. for some, $30,000 would be a joke, and for us, at the time, we were still young, our kids... our kids were young, so it was like college savings or how are we going to buy a house, etc? so that was, at this point, we could have bought a house with that money and we did not buy a house or apartment, and instead i have a tv show on youtube. now, miriam is back
2:39 am
with a new business. she has developed a way to get children engaged by science and maths, releasing nine card games, all of which she says have sold out online. and she is expanding. the letters are all going to be straight. miriam and her designer are meeting to put the final touches to their latest game. i did not have a lot of resources, i remember, i think that first conversation i said that i do not have a tonne of money but here is my huge dream, right? i admired the fact that she was willing to put everything she had again into this new business. something that is special with miriam is the even though this business had not worked out, she had lost everything, she was not going to let that defeat her. she was ready to start something new and make something great. i am not sure i want so much
2:40 am
to be an entrepreneur as i want to change the world, and that might seem like a huge goal with a bunch of card games. but my mother raised me to believe that women, girls can do anything, we can be anything, we can take risks, we can achieve anything that we want to. of course. that self—confidence can be easily shaken, though. and seeing a gap in the market does not guarantee success. in south korea, hyerin learnt that the hard way. now she spends every waking hour trying to make her current venture a success. when i see people having and spending their weekends like this, somehow i feel like i'm missing having that relaxed time with family and friends. i think about my schedule or days, i would not say it is well— balanced.
2:41 am
her first business, an ambitious project to install a tidal project on the korean peninsula, received a $3 million grant. but while the plant produced energy, bureaucracy meant her company failed to connect it to the power grid. koreans are not really supportive to someone who has failed here. mostly they consider them, like, a loser. there was literally no one who supported me when i faced failure. just one year after the plant was installed, she was bankrupt. the business was wiped out. the project manager
2:42 am
and the other people say, "i knew that you would fail because you are young, you are not an engineer." that is the answer that i always hear from people back then. and i agree about it. because it was true. she was 29 years old and $300,000 in debt. the pain of that time is still with her. i was so depressed. if i'm facing that same failure again, then would i be able to get over that again? like, maybe not. after her first business went bust, she was homeless. she spent two months sleeping in 24—hour restaurants while she planned how to pay off her debts and start over again. the current customers
2:43 am
in north america care about environmental impact, but customers in europe care about that much more. now she is back in the business world with bold ambitions and serious investors. i think she is very exceptional. a startup is a tough journey for anyone. i think she is the entrepreneur and she is invincible. all the great achievements were started from very small ideas and big passion. backing like this is exactly what sunglasses entrepreneur rafael is hoping to find. he is meeting with potential investors who he needs to keep his sunglasses company alive. we are in the middle of those meetings. they are analysing the company
2:44 am
and my plans to see if they are willing to invest. i do not want to talk of value, the lowest value. it is not about money, it's about a dream. the most important thing is to connect with people that the same values as mine. this is the first thing. i do not know anything about selling sunglasses, but from what i understood, it is an asset purchase. yes. and a pretty decent price. who are these people? my wife and my son. how old is he? 18 months. do you have kids? no. no? i think it is really viable and checking over so you can be aligned in terms of our assumptions and then we have a estimate of the numbers as they come into play. the variables that may affect the outcomes. the meeting lasts more than two hours. of course, you never know. people are people, things can change, but after this meeting,
2:45 am
i seem confident that we are going to have a deal and i am dealing with great people, nice people. very smart people that will be great partners. for now, he is doing everything on his own, taking his glasses from shop to shop in the hope of making sales. i love to sell, it is something i love to do. but it is not easy when you are in a different country and selling a brand that nobody knows yet. sorry, i'm a bit late. that's ok. and it takes time in a new country with new brands. i feel like these are the most popular... when you are new in the market, you need to know if you are selling at the right price point. if the products are great, if the consumers are liking the product, the package, the whole experience. you need to have constantly this kind of feedback to get better. back in seoul, it is the night
2:46 am
before the big product test. tomorrow's evaluation has been months in the planning. she has gone into the city for a drink with friends, a rare chance to unwind. there was a little problem from our factory to preparing the whole structure for installation for tomorrow's testing, so i keep having remote conversations with our team at the factory. her team tell her that conditions have changed and that has put the carefully planned test in jeopardy. six months of preparation, and her future plans are on the line. whenever something happened wrong, it is always easy to blame someone. i was always the target.
2:47 am
sometimes it is really hard to give them an answer right back because this is my first time to do all this stuff. in israel, it's a tense time formiriam. because of problems with a manufacturer, her games business is in limbo. right now, i'm in a situation where we are out of stock on amazon, we are sold out in the us and our manufacturer has disappeared. what that means is that they have disappeared completely off the face of the earth, e—mails have gone unanswered, phone calls, we sent private investigators, chinese police and other investigators that we hired through the chinese investigators, and we have no answers right now. and no stock, and no games,
2:48 am
and no idea what is going on. there are two things obviously in your mind all the time. one, that somebody stole your games and they are going to start selling the your distributors. any other fear is they have absconded with my money and are selling my games, then i have lost maybe half a million in sales. but i will not know that until they show up on the street and go to the manufacturer. in this scenario b, then i have to still bring them to the manufacturer. because i do not have any information, i can't decide. but it's stilljust me, i make this decision, right?
2:49 am
i'm out $500,000 worth of sales. rather, i'm not selling anything in the us or amazon because i have no stock, so i am missing out on sales. but we don't know what the result is yet because i do not know what the issue is. hey, how are you? how are you? good. this battle, thisjourney, this experience is exhausting. it is all—encompassing. the worst—case scenario is i lose everything plus i lose the money i had to start remanufacturing. it is hard to think about anything else, but at the same time, i know that if i sit and just worry i do not move and do not make a decision, then only bad is going to happen. to keep his business alive, rafael is starting to look beyond miami. i can drive, put everything inside my car and drive from miami to la, stopping in every city trying to sell to make working capital and launch new styles and keep alive. i would need to talk to my wife and she would need to be comfortable to have her husband travelling from miami to la. she's supporting me always. she says, "i truly believe in you and i am very proud of you. we are a family.
2:50 am
we are going to be with you no matter what." so this is what gives me power to believe and keep going forward. back in south korea, hyerin needs to prove to investors that her idea for expansion works. if this test proves successful, it could be a game—changerfor her business. but that is still a big if. hyerin and her team were up all night trying to salvage the test after the unexpected change in conditions. but they couldn't agree on how move forward. we all had a big argument, but we all agreed that this testing
2:51 am
is really important and we really need to succeed. we all learned how to lose the game. everybody has their own opinion and last night, like, maybe i learned how to lose and how to... i don't know... ijust let them do what they want. after the changes, the test can go ahead. her generators will be lowered into the han river in seoul to see whether they work together and how much power they can generate. i am looking at how two different types of insulation and structure works. so we are going to figure out how to build an initial guideline through this testing. there. yay. it works very well. there. i feel really excited
2:52 am
to take another step. imagine they will install 100 units a year and all generating power. harness energy from this river. the would be really amazing. we can change the world even. hello there. this weekend, again, we look to the atlantic to see where our weather is coming from. we're going to add into the mix, just for good measure, the remnants of an old tropical storm. it will feel quite humid out there this weekend. for many it will be dry on saturday, more rain for some on sunday. there was a fair bit of dull, damp, cool and wet weather across some parts of the country on friday. a lot of that has moved through. this area of low pressure, though, contains remnants of tropical storm ernesto, to arrive in the second half of the weekend. still got some rain on that weather front there, though. that is strung out across central and southern scotland, the north of northern ireland, perhaps the north—west of england too. south of that, though, we're going to find it probably dry, sunshine at times, the best of which is likely to be in the south—east. temperatures likely to hit the mid—20s or so. north of our band of cloud, patchy, light rain and drizzle.
2:53 am
northern scotland, after a windy start, should be dry with some sunshine. here comes ernesto, though. don't have to worry about the strength of the winds. it's more the rain. it'll be quite heavy for a while as it moves over the irish sea, into southern scotland, northern ireland and wales. 0vernight, once again those temperatures no lower than 17 degrees, but across some areas, some heavy rains on sunday — central and southern scotland, northern england and wales. as the rain makes its way eastwards into the midlands, it becomes lighter, temperatures into the mid—20s. improvements in the weather in northern ireland. slightly cooler, fresher, but still cool weather in the far north of scotland, with some sunshine. so we see the remnants of tropical storm ernesto bringing a spell of rain during the second half of the weekend. it moves away into southern parts of scandinavia by monday, and things calm down just a little. a very flat ridge of high pressure, still a lot of cloud coming in from the atlantic, and developing through the day. the odd shower perhaps up towards the west. patchy light rain and drizzle in the north and west of the uk, but 21 degrees likely in belfast, and 25 or 26 in london and the south—east. that's our monday. as we look further ahead, we still have higher pressure across the south.
2:54 am
it's not a dominant high, by any means, and a string of fronts arriving in the north—west, but very late on in the day on tuesday. ahead of that, increasing cloud perhaps, but some sunshine for a while, and the odd shower in scotland and for northern ireland and england. a dry day, a bit more sunshine around as well, and those temperatures more widely into the mid—20s across east anglia and the south—east. the number is not changing too much for scotland and northern ireland. the weather fronts that arrive in the north—west push southwards. there won't be much rain on them at all. but a north—westerly breeze by thursday could drop the temperatures just a little. welcome to bbc news. broadcasting to viewers in north america and around the globe. the indian government says nearly 900 people have died since the start of the monsoon season injune. the worst affected state is kerala in the south, where more than 300 deaths have been recorded. emergency workers are scrambling to reach thousands of people who remain cut off by landslides. the bbc‘s yogita limaye reports from kerala. forced out of their homes by the floods, people are walking miles to safety, escaping surging
40 Views
IN COLLECTIONS
BBC News Television Archive Television Archive News Search ServiceUploaded by TV Archive on