Peter Horan - Entrepreneurs as the heart of the city
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The document discusses the importance of entrepreneurs in driving economic growth and innovation in cities. It notes that many major cities like San Francisco, Hollywood, Detroit, and Pittsburgh grew due to ambitious people with ideas congregating and conspiring to change the world. These entrepreneurs helped build a virtuous cycle of ignition, talent, capital, ideas, growth, exits that reinvest capital and reignite the cycle. However, the document warns that cities and companies must constantly reinvent themselves or risk decline, and should never take their continued success for granted.
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Peter Horan - Entrepreneurs as the heart of the city
- 1. Entrepreneurs: Heartbeat of the City Peter C. Horan Founder Horan MediaTech Advisors July, 2014
- 2. 2
- 3. WITNESS TO THE REVOLUTION
- 4. B7FE6675
- 6. TIME OUT FOR A WORD FROM YOUR CRAZY UNCLE
- 7. BEFORE THEY WERE CAPTAINS OF INDUSTRY AND PILLARS OF SOCIETY
- 8. ANGRY, AMBITIOUS AND TALENTED PEOPLE CHANGE THE WORLD Especially when they congregate and conspire
- 9. SAN FRANCISCO, HOLLYWOOD, DETROIT, PITTSBURGH-- EVEN MONTREAL A CONTINENT BUILT BY EXILES, OUTCASTS, DREAMERS, SECOND SONS AND CHANCERS.
- 10. A VIRTUOUS CIRCLE • Ignition • Talent (often from a university) • Capital • Ideas • Growth and Commercial Success • Exits and Release of Capital • Reignition
- 11. GREAT TO GONE IN ONE GENERATION
- 12. WHY WON’T SILICON VALLEY BE THE PITTSBURGH OF THE 21ST CENTURY? REFLECTIONS ON A RIDE THROUGH THE RUST BELT
- 13. NEVER TAKE YOUR CONTINUED EXISTENCE FOR GRANTED Cities and Companies Have No Inherent Right to Survival STAY ON THE RIGHT SIDE OF HISTORY ALWAYS HAVE A REASON TO EXIST NOW NEVER ASSUME THAT YOUR CUSTOMERS LOVE YOU RESPECT COMPETITORS AND SUBSTITUTES
- 14. THE REINVENTION IMPERATIVE Lest the Barbarians Become Bureaucrats
- 15. HOW I REINVENT MYSELF 15
- 16. THANKS!! STAY AMBITIOUS! STAY ANGRY! DREAM BIG DREAMS!
Notes de l'éditeur
- ----- Meeting Notes (7/9/14 16:24) ----- When things go well, there is a virtuous circle. The circle can take many directions but it must start with a great dream and a great ambition. We now call this "venture scale" but two hundred years ago Goethe cautioned to "dream no small dreams". Entrepreneurship is the catalyst for the growth of a city when the ideas become a business and when the business goes through its lifecycle. With luck, the talent and capital are redeployed. The growth expands exponentially.
- Not that long ago, these were iconic American brands. They were on every street corners. They employed millions of Americans. I have mercifully skipped auto brands like Pontiac and Oldsmobile because GM continues. But now, they are either out of business, almost out of business, or being sold for parts. And it happened fast. Change happens on Main Street not just in Silicon Valley ----- Meeting Notes (7/9/14 16:24) ----- But sometimes it goes wrong. All of these businesses were once a entrpreneurs dream. As little as 20 years ago they were industry leaders, many of them on nearby street corners. DEC was the second largest computer company in the world. Led by a legendary entrepreneur, Ken Olsen. But in a couple of decades they went from industry leader to the answer to a trivia question.
- ----- Meeting Notes (7/9/14 16:24) ----- I just completed a 300 mile bike ride from Pittsburgh to the outskirts of Washington DC. I rode through the Rust Belt of Pennsylvania, Maryland, and bits of West Virginia. On the one hand, I was struck by the fact that 100 years ago Pittsburgh was the Silicon Valley of its time. Wealth creation. Job Creation. Energy. Mellon, Rockefeller, Carnegie and Frick were the Jobs, Gates and Zuckerberg of their day. But as I rode (and it takes a while to ride 300 miles) I also started to ask the question, “If Pittsbugh was the Silicon Valley of the 19th Century, why won’t Silicon Valley be the Pittsburgh of this century?”