i love entrepreneurship, the question is are ordinary americans seeing the benefits of entrepreneurshipe way they did in the past. in the reagan administration, most jobs were created by start-ups. big companies lost jobs. in the obama administration, the russell 2000 has half the jobs, most are coming from big companies. the confidence that ordinary americans have, that entrepreneurship would improve their lives has been lost. john: where did you have more fun, big company? >> small company, no question. john: our current president is schizophrenic about business. in 2011 he said this -- >> american has always been a nation ofdoers, we build things, take risks and believe if you have a good idea are and willing to work hard enough, you can turn that idea into a successful business. john: yes! but then two years later, he said this -- >> if you've been successful, you didn't get there on your own. you got a business, you didn't build that. >> what's that about? two years later, is this politics? >> kernel of truth what obama is saying, all the 1980s and 90s had government participation,

entrepreneurship wasn't an option.to investment banking, i was miserable, it didn't make me happy. the idea that entrepreneurship is a viable and vibrant option today is exciting. for a young graduate today, kickstarter, go-go, and now companies are funding kids in college. john: it's easier. >> much easier. john: my previous guests say the american dream is gone. >> i regrettably disagree with that. very much disagree with that. all of my friends in 20s and 30s today are starting businesses, creating value for the world. one of my best friends started a company called change hero. john: people your age are doing all this. i was stunned to read this chart from the kauffman foundation. most small businesses are started by older people. people over 55. >> yeah, historically, the older generation would be able to create businesses earlier or first because they have money, they've built their careers, they have establishments to manage -- have resources to actually start something. whereas today with things like kickstarte

that's what's so great about entrepreneurship. it is much more exciting to start a business than to work for a large company. >> now the president says it is government's job to help businesses succeed. >> i've called on my entire administration to help entrepreneurs get loans, cut through red tape, speed up innovation, and get their businesses off the ground faster. >> what? they've done the opposite. they pass a thousand new rules every week. all those rules are obstacles to entrepreneurship. when i interviewed mark cuban, he said under today's rules, he couldn't have built the businesses he built. >> there are so many things you have to sign up for, that you have a better chance of getting in trouble than you have of being successful. >> the president says, we're going to help people get loans. like they're going to pick and choose? >> i don't know if the government wants to be our partner here. the partners that i think of are sweating payroll and working with me the late hours over the weekend or developing the products. >> t

we're talking about average joe entrepreneurship, people renting out their idle assets to earn a little cash. it has turned into a $26 billion a year industry. those kinds of numbers cause established industries to stand up and take notice. and they infringing on revenue streams or creating new ones? >> we have already seen from companies like the rental car industry. they acquire or partner with the companies that came into the car sharing business early on. so in a way it's an innovation pipeline, and companies are taking risks they normally wouldn't have taken. so i think you could probably see companies like air b&b, yuber, they are going to be completing with amazon, they are logistics companies effectively already. so you will see a lot more innovation. the biggest companies are not going to stand back and let this happen without them stepping into the market. >> i think -- go ahead, arun -- >> one of the most exciting things for me about the sharing economy is the fact that i think that these platforms can be engines for renovation. and here is how. now -- today when you want to

while the brogans as a to report stop short of addressing why entrepreneurship has been on the declineit's pretty clear who and what the culprits are first and foremost ronald reagan is to blame. before reagan came to washington small mom and pop shops were the backbone of our economy you could walk down the main street of any or the strip mall of any town in this country and it would be very rare to find a big box retailer or a large chain store maybe the occasional sears or kroger's but that was it if you needed groceries by and large you went to local grocer you needed a new hammer you went to the local hardware store but then along came reaganomics ronald reagan stopped in force in the sherman antitrust act in one thousand nine hundred two and handed out massive and unfair tax breaks to large corporations and to their executives and their stockholders all at the expense of the small businesses that had built the american economy as a result mom and pop stores began to close because they simply couldn't afford to compete with these big box stores that were growing out of control thi

factor that's keeping entrepreneurship down right now more than forty million americans hold studentoan debt but the average loan debt being around twenty three thousand dollars just over the last ten years the past decade the average debt for a twenty five year old has risen a staggering ninety one percent and most of that debt is from student loans and that's bad news for entrepreneurship also because according to the wide combinator one of america's top business accelerators the average age of out of printers is twenty six pretty hard to start a business at twenty six and you're strapped to tens of thousands of dollars in student loan debt from thirty three years of failed reaganomics to mountains of student loan debt soaring health care costs it's pretty clear why entrepreneurship has been on the decline for the past thirty plus years in the united states it's time for us to reverse this trend and for entrepreneurship to thrive again for and that starts with undoing thirty three years of failed reaganomics giant trans national corporations should not be able to play monopoly and

he was a senior majoring in entrepreneurship at indiana university. and he didn't just lose his coat. he found an opportunity. >> i went to the bar owners, i asked why they didn't provide a coat check. they told me some tried, some had not. some didn't think of providing it. i said you mind if i come in and get rax and set it up and see if i could do this? like yeah. do it next week. >> he borrowed $500 from his parents, bought cheap rax and hangers and launched coat check. his first client was killroy sports bar, the same place his jacket mysteriously disappeared. >> derek handled everything. he set it up, tore it down, checked the coats, had the insurance. it was hands off for us. >> killroy saw the benefit of derek's coat check in the bottom line. not only was it better for customers who no longer had to worry about their coat, it was better for the bar which was now able to serve drinks at tables that used to be piled with coats. killroys made the coat check mandatory. with 1,000 on busy nights derek's business took off. >> we had three. in the pe

there's a cult of entrepreneurship. that's what we all celebrate. that's what we're here to talk about. there is something to be said for going and having a mentor and learning under somebody who you work for as well. it's different personality types, too. >> and it's a lot about the team you are able to surround yourself with, whether it's mentors, other employees with specific information. if you are going it alone that early in your career, you have to be really willing to listen and learn. >> right. >> j.j. when you talk to entrepreneurs, when they say what's the one thing that really helped them, it's finding the right mentor. >> thanks, guys. great advice. stick around because we're putting you in the elevator later on in the show. >> thank you. >>> if any of you out there have a question for our experts, we answer them here on the show every single week. go to our website. the address is openforum.com/yourbusiness. once you get there hit the app for this show to submit a question for our panel. if it's ieasier, e-mail us. it's yourbusiness@ms

that said, entrepreneurship, inno sags is the driver of our economy. it's encouraging to see people out of college wanting to start their own thing. do you have the resources and support you feed to do it right now? that said, i have done businesses that were successful and others not as successful. you learn so much by building a successful business. you learn even more by failing. take those experiences, whether it's failing fast, starting your own business, learning. . there is no wrong or right route. you have to do what feels true to you. >> the good thing about being out of college is your risk profile is higher. >> you have nothing to lose. given the choice i would rather make mistakes on someone else's dime than mine. remember, starting your own business is about the people you work with, not the requested. if you find people you can groove with, go for it. >> it is interesting. there is a cult of entrepreneurship now. this is what we are here to talk about. there is something to be said for going, having a mentor and learning under somebody yo

that kind of entrepreneurship is essential for the country's history. the sad possibility is that you would cut that person off when you find somebody else to do something very traditional. you don't get the kind of innovation that you get when you let opera newer -- entrepreneurs in the marketplace decide and try to compete for consumers interest. >> host: one of the stores i would like to focus on which i very much enjoyed in the book something i hadn't known about is the story of samuel pierpont langley who was the government funded competitor to the wright brothers developing the first flying machines as they were known at the time. and you look at langley's biography and his resume and he seems like the his success in creating wealth. henry ford was not the ideological person to popularize the car. a poor background and his parents didn't last long so ford ends up being the one to make the move. that's the thing about the marketplace you can't tell who has the good ideas and who is the perseverance. there's a lot that goes into it that made it succ

. >> we're building on education, innovation and entrepreneurship. >> we may be crazy enough to be thefoundation that says we need to develop the economy of the philippines to be a thriving, with fast growth economy. >> dotto founded several silicon valley businesses, but s his hat is in philanthropy. he was born in the philippines. >> my father was a farmer. my mother, a simple housewife. >> they believed passionately in education. dato came to america, graduated from stanford with a masters in electrical engineering. his charity has a long-term strategy to graduate as many ph.d.s as possible in the philippines in science and engineering. he's connecting silicon valley to this effort to create filipino entrepreneurs, some of those students made this video. >> i believe that entrepreneurship is the fast es addition of wealth for the philippines. >> trying to raise the middle class? >> absolutely. >> they'll be dancing for dollars in the fundraiser. >> cheryl will be bringing home a surprise partner or two. it will definitely be a name. >> sheryl jennings, abc7 news. >>> the fundraiser

some of those students made this video. >> i believe entrepreneurship is the fastest distribution ofealth in the population. >> trying to raise the middle class? >> absolutely. >> this is why he and cheryl burke will be dancing for dollars at the cheryl burke fundraiser. >> cheryl will be bringing home a dance partner or two. it will definitely be fun! >> cheryl jennings, abc7 news. >>> the fundraiser is friday, june 6th at the cheryl burke dance studio in mountain view. we have more information on our website, abc7news.com. >>> next, when red tape threatens to ruin your wedding, who better to call than your congressman. how local lawmakers stepped i >> a local congressman saved the day and the wedding of this she e-mailed or congressman when her wedding dress was stuck in customs in new york. it was her dream dress and she had a made by a seamstress in poland. staffers got to work, found the dress and had it shipped overnight and it arrived the day before the wedding, which was earlier this month. still not everything went smoothly. rings showed up a day late. they got married at th

as his entrepreneurship at its best. a family-owned business that went from $600 in a garage to do companies that employ almost 14,000 people full-time across the country. through it all, hobby lobby has retained the guiding principles of the devout founders. the statement begins with a bible verse and they are closed every sunday. they're committed to honoring the lord by being generous players and paying well above minimum wage and increasing the salaries for years in a row even in the middle of a recession. none of this it to the obama administration. say that fateful business owners cannot operate under the assumption in which they can use their moral principles to guide the way their places of business spend money. according to administration legal argument, the family that owns hobby lobby is not protected by the first amendments are free use of exercise. that is part of the amendment tested congress will make no law prohibiting the free exercise religion. the obama administration and attorney general eric holder a

one of the biggest forces is entrepreneurship.s yet to capitalize on this. >> absolutely. it has not. this is one of the questions i posed to the minister. he was talking about policies put in place to sure that -- to ensure that entrepreneurship grows. we are falling behind the rest of the country. you see private equity fund springing up across the continent. not really focusing on south africa. this is because the policy is not right. one of the biggest critics of says southplaner who africa is moving towards becoming a failed state if it does not focus on entrepreneurs because this is what is driving the rest of the continent and this is why south africa is growing at 2.7% in sub-saharan african is growing at 5.4%. >> thank you very much indeed. joining us from bloomberg tv africa. >> coming up next, as we had to break, a russian official has reportedly just said that ukraine's latest major offensive a geneva hopes of deal. we will monitor the crisis in ukraine on "the pulse." ♪ >> good morning. welcome back. you're watching "

how do we promote more entrepreneurship, newer businesses, more jobs?ggest myths out here. no, it's the age of the business, the entrepreneurial, the churn in that market. where we saw a lot of it in the 1990s was people's access to credit markets, their home equity lines of credit and using that as seed capital on some of the small bit. the new business creation we saw. the idea that the cleaners i've been going to for over 20 years has been run by the same family. they've not added any people, they've had the same people in the same family rotating in and out, but they've not added anyone. i think it is the hard of the distinct and is one of the problems with today as economy is not having enough of that entrepreneurship. i agree, technology can cut both ways. i half to be a user of uber- myself, but it is one of these app.s that does innovate in a way that it creates a lot of jobs. >> i would like to throw out something i saw this morning in "wall street journal," and that is the conference board saying the u.s. will enter a period of severe labor sh

we're at the forbes women's summit, about the entrepreneurship of everything.re re-defining power, mora forbes has brought together some phenomenal people who happen to be women, leaders in science, military, government, the big four, ceos, philanthropists. this is why i'm excited about our future, with this group of women coming together. it's extraordinary. generally speaking we love the guys, we don't discriminate. guys are really at delegating. women are extraordinary at implementing an that's what's happening here today. >> that's why we make such a great pair, right? just a moment ago we were talking about walmart and our guest was suggesting that it is kind of like a window on the economy. right? a barometer of the consumer particularly at the low end. they're not doing particularly well right now. you have a lot of brand, have you a lot of particular products across all sectors of the economy. where do you see weakness, where do you see strength right now? >> diversification is key and that is where we're working at every level of distribution. and bein

points i think that are really important from the investment neighborhoods oewd is in the so entrepreneurship opportunities for people to grow and grow bigger whether it's formula retail or an independent retailer those are jobs and they're a keying priority for the office. on behalf of the oewd we recognize a very, very complicated issue and you can find something in the proposal that not everybody will like but we think that raising the threshold in 12 to 20 removes a barrier for the homegrown businesses even going up to 50 that wouldn't vastly effect the locations. i've spent several years ago trying to get starbuck's nobody wants them anymore but now the blue bottle sass has more than 11 but not 20. we have positive about the what the administer review might not able to do larger because how it may help with the wasting time it takes a period of 4 months so anything to get a few less controversial cases will help the small guys who can't sign a lease and pay rent and not be open. we also building the increased emphasis on the store review many of the people concern is about the character

help them and mayor ed lee has helped to support the small business community and encourage entrepreneurship like sunday streets that's the most popular open street project in the united states this increases the foot traffic to the small businesses see more business everyday and last year with the help of the white house they brought silicon valley to the public it be tangibles programs concluding health care and open government and transparency and finishing. during the small business week 2013 they announced the loan fund that made $12 million available to support small businesses boost the local economy and create jobs. the merging business loan program extends fund to institutions it focuses on lending to the entrepreneurs and growing industries like manufacturing and apparel and industry sector to create jobs for local folks. in this city small property owners have a terrific opportunity and and team bank of america loortdz to our continued work with the mayor in partnership and support of the local enclosures please join me in welcoming mayor ed lee (clapping.) thank you for that intr

>> i would encourage young asian-americans to pursue social entrepreneurship and getting back to the community. there's a vibrant community here and then there's always a way to give back. >> in what sense? doing good for others? >> doing good for others. everyone can be a tlan tlopist. you don't have to have millions of dollars. identify needs and solutions. >> david, how about we ask you what would you like to see? >> i'd like to see participation in the mainstream, in particular, voting. we generally think our vote doesn't count. it does. one of the organizations that's doing that is the apia vote. i encourage nations and others to participate in the voting process. >> those numbers aren't coming up from election to election though, right? >> yes. >> and maralee, i know you always have a thought. >> two things. one is i really would like to encourage our apa fellow community members to get appointed to boards. >> as you are. >> yes, as i am. you can start at the community level, citizens advisory committees in every district and then also run for office. we need to see more asian

regulation stifles business and stifles entrepreneurship. >> no, knock, no., see if we don't have some basic rules then what happens is exactly what happened then. and that is the big financial institutions made billions of dollars by cheating people on credit cards, mortgages. >> what dow mean cheating people on credit cards. you sign up for a credit card, use the credit card and then you have to pay your bills, is that too complicated for harvard? >> oh. >> so you just accused reagan of supporting cheating people. those were your words. >> let's be clear about this. it was supporting having the regulators look the other way. while the biggest financial institutions did every trick and every trap possible in credit cards, in mortgages, in checking account rules. and they made billions of dollars doing it. and at the same time they loaded up on risk. and what ultimately happened by 2008 was that they broke the economy. they got bailed out by the taxpayers. they continued to break the law in foreclosing on people's mortgages. >> but let me point something out

we also want to encourage entrepreneurship we come up with new ideas, new processes, and product tow create new jobs. we want our scientists to win the nobel prizes, and we want our business as to when the market. we have seen amazing innovation from research clusters around the country, silicon valley, research triangle, a digital car door in baltimore to washington. so many incredible discoveries come and from our great wonderful scientists have come because of federal labs. the national institutes of health and the fda, the department of energy, nasa. so all of these are agencies that could do the kind of risk capital discovery that, perhaps, our private sector could not undertake. i have been troubled, and that many of my colleagues on both side of the aisle. are we burning and innovation deficit? yes, we have to focus on our budget deficit, but are becoming so austere we could be tapping -- capping of future growth. we invited this distinguished panel the talk about the innovation budgets cannot be running in innovation deficit and where are the best places that we can make wise

really, just playing with the entrepreneurship and moving it forward, is the kind of thing that you can see as part of the culture of the synagogue itself. >> i'm not sure how it will develop. my hope is that the synagogue and the coffee shop will work together as a team. i am also keeping, as a separate space. a lot of people associate synagogues with prayer and a model from the past. the hope is that the coffee shop will be a way to envision the synagogue as serving a different need. >> . >> so sunrise sunset, go to 46 avenue. thank you so much for joining us here on mosaic. have a great day. ,,,,,, ♪ well i love a rainy night.♪ ♪ i love a rainy night ♪ i love to hear the thunder, watch the lightning ♪ ♪ when it lights up the sky. ♪ ♪ you know it makes me feel good. ♪ ♪ 'cause i love a rainy night.♪ yoplait with flavors the whole family will love. >>> welcome to bay sunday. i am your host, frank mallicoat. good to have you on board. we begin with our weekly pitch. if you have a show idea, we would love to hear from you. go to facebook.com/bay sunday. and the producers will get in touc

the entrepreneurship small businesses and more dying than are being born, the most frightening stat i've seen in a long time and it's been happening for a long time. the last three or four years has been a death spiral and it's not going to get better and far worse as we talk about forcing higher minimum wage. $26 an hour in california. >> it's not going anywhere. but it is, i think when you say a figure like that, they say, geez, $10, $11. >> all under the fairness argument, but the real irony of it is the more you hike this, the less fair it is for the people you are supposedly helping for the people at large. >> that snuck out to me and provided that. hey, it's unprecedent in nature, sweeping nature and that it affects almost every major u.s. industry sector. i think the exception was the internet, right? what's going on? >> and across states it's the same trend, as well. i think a lot, i think some of it has to do with we are a bigger, more developed economy and you have bigger companies getting much bigger. smaller businesses. >> can't dynamically grow like it used to. >> smaller bu

the theme of the conference is the entrepreneurship of everything. whether you're leading a multinational, multibillion dollar corporation, you're launching a business or creating a social movement to impact the lives of millions, it really is about entrepreneurship. we have great corporate ceos, traditional power players like ma mary eardo, kathy ireland who went from swimsuit model to entrepreneur. jessica simpson. it's an eclectic group. >> in order to achieve your goal, what are they going to do? >> we're going to be talking about issues and challenges affecting all leaders, not just women. so not just how these women are doing what they're doing but how they're taking that entrepreneurial approach and re-inventing their businesses. how they navigated their careers and how they faced huge obstacles. we're looking at economic motivation, health and a number of issues. >> you know who's newly available, jill abrahamson. >> that is true. that is true. >> she used to be the competitive? >> she's an extraordinary power woman but it goes to show you, n

i go and talk to kids -- >> entrepreneurship. >> yes. anybody can start a business. you watch the show and see people from out of the smallest towns with the simplest ideas they believe can turn into something big and they do. it's the number one show on -- they tell us, the number one show watched by families together. >> right. >> that tells you the american dream, to be an entrepreneur and be successful, it's growing. >> you put your foot in your mouth, you get kicked out of the league. we know the nba bylaws and we know donald sterling with the culture of that team, the culture of him has taken over the entire personality of the team. the missoula ceo. had to step down because he gave a donation, six years ago. nfl players fined or suspended because of their personal opinion, but public reactions to michael sam kissing his boyfriend on espn. and donald sterling who could lose his team for as you say, being a moron. should we be in a that place? take someone's personal property? >> i can't comment on mr. sterling, but i can say we're a franchise organization. righ

as his entrepreneurship at its best. a family-owned business that went from $600 in a garage to do companies that employ almost 14,000 people full-time across the country. through it all, hobby lobby has retained the guiding principles of the devout founders. the statement begins with a bible verse and they are closed every sunday. they're committed to honoring the lord by being generous players and paying well above minimum wage and increasing the salaries for years in a row even in the middle of a recession. none of this it to the obama administration. they say that fateful business owners cannot operate under the assumption in which they can use their moral principles to guide the way their places of business spend money. according to administration legal argument, the family that owns hobby lobby is not protected by the first amendments are free use of exercise. that is part of the amendment tested congress will make no law prohibiting the free exercise religion. the obama administration and attorney general eric hol

competition, innovation, investment, creativity, entrepreneurship. that is what the 21st century will be about. and there is no nation and no people on the earth that do that better than americans. [applause] i am going to put this near the elephant and hope he doesn't drink it. but it won't happen on its own. the road we are on right now is a road that will rob us of the american dream. and that's where our party must take the opportunity that we've now been given, to go to these americans that are hurting, the americans you are starting to doubt whether the fundamentals of the american dream are still alive, to go with them and say -- here is the new way forward, here's the way to take us to this new american century. for us, it begins with a simple purpose, a simple idea. we believe that america must always be the nation of equal opportunity. equal opportunity means that it doesn't matter where you start out in life. how poor your parents were. we believe every human being has a god-given right to pursue happiness, to achieve everything they were

. >> entrepreneurship people who like to start new things, they are not necessarily good day-to-day managers. >> as we saw earlier, joe and mary have been so business we the day-to-day of running their business that they haven't had a chance to do any long term planning. now, as they prepare for their retirement, they need help changing the direction of their company. our makeover team has given them some advice. that was just the beginning. we have a lot more in store for these small business owners. >> the "your business" makeover team has arrived in monterey, california. they are here to help these jewelry store owners open ta miz their business so it can support them. looking through books and walking through the store chris, helen and dawn have already made a lot of suggestions. >> the fact is jj, it's a great business. i mean they are doing a million dollars in 1,000 square feet which is about $800 a square foot. most retailers would kill for that level of sales per square foot. >> the challenge i think is just joe's where he's at in his life right now f. he was 35 it would be a slam d

management of the business, the day-to-day management, as soon as possible, because you know, entrepreneurship, people who like to start new things, who like new ideas, they're not necessarily good day-to-day managers. >>> as we saw earlier, joe and mary delechi have been so busy with the day-to-day of running their business that they haven't had a chance to do any long-term planning. now, as they prepare for their eventual retirement, they need help changing the direction of their company. our makeover team has already given them some advice, but that was just the beginning. we've got a lot more in store for these small business owners. the "your business" makeover team has arrived in monterey, california. they're here to help these jewelry store owners optimize their business. so it can support them in retirement. looking through their books and walking through their store, chris myers, helen bulwick and dawn brolin have already made a lot of suggestions. >> the fact is, j.j., it's a great business. i mean, they're doing a million dollars in 1,000 square feet, which is about $800 a square fo

africa's true growth potential is being hampered by the fact that we have different policy for entrepreneurshipu agree with this? >> we have to make a very clear investment. , thereing the support are fascinating examples of good things are happening. what we need to do in africa is raise the scale at which they're happening in order that they make a bigger impact. >> south africa's now the second largest economy in africa. your growth rate relative to what nigeria is expecting, do will be falling behind the rest of the continent? >> historically, you have established a new economic base. it is about the sophistication -- also the sophistication of the business enterprises that we have. for -- whereas the number itself might attest to one set of issues, if one looks at the economic base and economic infrastructure and capabilities of south african firms and the manner it in which their backs are penetrated the african continent, whether it is mining services, financial services, telecommunications, south africa is in a league of its own. >> will you be remaining in this position after the elect

all of the obstacles that you are experiencing translate directly over to entrepreneurship.ou get told no a lot. you have to be extremely scrappy . you have to have a lot of faith. >> the young people understand that? >> some get it. a lot of the entrepreneurs that we deal with have some sort of personal story where they have had to overcome some kind of obstacle. those are the people we look for. we want to bet on those folks. >> part of your mission is to change the status quo. another way to put that is to understand entrenched interests. they don't like change. sometimes it's all about who i know, people who look like me, people who are gender specific like me. how do you affect change in the face of those obstacles? >> are selling point is that we are finding highly entrepreneurial, raw talent. ,e focus on african-americans latinos and women. when you're thinking about how that translates business, if you can get into deals earlier, investors are seeing the same deals inside and out because we are buying into a different market and identifying unique ideas. benton joini