Unfortunately, I was unable to complete Testing the Opportunity Hypothesis Part 1. My girlfriend's older sister's wedding (maid of honor) was Saturday and my week has been extraordinarily busy. Keeping with the theme of my previous blog posts, had I completed TTOP, my choice would have been with healthy fast food. I believe massive changes are coming for our agriculture industry, with consumers actively seeking healthy, unprocessed, non-genetically modified food options. The fact that industrial agriculture is depleting freshwater stores across the world seems to be less concerning to the average citizen, but it is another frightening consequence of this system. By shifting to a more sustainable food supply, water resources, and the general heath of all those involved will improve dramatically. One of the main issues that I see with this model is supply. Large chains like McDonald's order their food from a relatively few number of locations, making the process much more simple. Food that is not created with preservatives (with sugar being the most
common) spoils more quickly, meaning that it will need to arrive more
quickly after harvest/slaughter and be sold quicker as well, as the
reduced shelf life will be a problem. To survive in fast food, these new restaurants will likely need to locally source the majority of the food they sell. While it presents a less common business structure than standard fast food, the concept of farm-to-table establishments have been widely successful recently on a small scale. It will also provide the local, organic farmer (also becoming more prominent, with Costco actually giving money to people to start organic farms to keep up with the soaring demand) with a major outlet for their products and thus forming a symbiotic relationship between two sustainable, lucrative businesses that will have major implications for the local economy. The entrepreneurs would have to establish their restaurants in areas that can keep up with demand and seek these farmers out. That would not be a problem for those with the necessary motivation to succeed, however. These farms also will need to form a system of refrigerated delivery to the restaurants. Politicians frequently tell us they will do one thing, with the opposite actually happening in the end. Adding more laws to the largest legal code in the world is also not the answer. Want to see healthier, more local food options? The only way to accomplish that is with your checkbook. Money talks and the massive demand for organic food shows that the consumer is no longer satisfied with being duped by the FDA. McDonald's anticipates that over 500 of their restaurants will close this year, with countless other fast food chains being affected as well. Who will replace these once booming food institutions? Who indeed...
Sunday, May 29, 2016
Saturday, May 28, 2016
Looking for Opportunity
Economic Trends Opportunity #1 -
http://www.curbed.com/2016/5/26/11787632/driverless-cars-will-shrink-our-roads-and-radically-reshape-urban
The trend of driverless is expanding rapidly. An article that I read a year ago predicted that by 2035, 90% of the cars currently on the road will be replaced by what is essentially a driverless Uber. These cars will charge a flat rate of somewhere between $0.25 and $.50 a mile (depending on location) and economists believe that this trend will be one that changes the face a America. With fewer cars, business owners can now expand on their own property, as enormous amounts of parking lots will need to be converted. Parking garages in prime real estate will also provide opportunities to build in locations that were thought to be lost forever. Any person that is sick of driving their personally owned car on the continuously degrading infrastructure of this nation will benefit. Car insurance, oil changes, yearly maintenance, and many other hassles of owning a car will disappear, least of which is having to share a road with a thoughtlessly aggressive drivers on our roads today. I for one find that around 90% of the anger I experience on a daily basis comes from driving and I cannot wait to never drive again. The opportunity is a little more difficult to see, as it will likely have massive implications for the uncountable American companies associated with the auto industry. If you have stock in manufacturers, insurance companies, or petroleum in general, the opportunity might be to not see your life savings go up in flames. There are too many positives to ignore for this change, with the CO2 generation set to plummet, as well. Impending environmental restrictions will likely see this future become a reality, one that I cannot wait for.
Economic Trends Opportunity #2-
http://www.digitaltrends.com/home/tesla-energy-is-the-companys-line-of-batteries/#:PAUBkyca41rsLA
With the implications of climate change becoming a larger part of our everyday lives, more and more Americans are looking to do what they can to ween themselves off of our dependence on fossil fuels. This approach is highlighted by Telsa Energy, who are at the forefront of this industry with their more-available-than-ever battery technology. With the introduction of the new Powerwall, Tesla founder Elon Musk believes that the issues with his first generation of batteries are in the past. The new model is smaller, more efficient, and less expensive, making them affordable for most homes and businesses, with those located right here in Gainesville, FL, (home of some of the highest utility costs in the nation) amongst those that will immediately benefit from the purchase. A recent policy change that has explored the viability of leasing these units will increase its availability further. It is not only a financial investment, but one in our future, as the ensuing reduction in carbon emissions set to slow the inevitability of rising sea levels. This opportunity is similar to #1, in that the true opportunity is not one on the surface. Musk has released every patent he has attained, hoping to inspire positive change in mankind. This opportunity is more about not being left int he past as the world evolves. The increased availability of these batteries will likely be the deathblow to many corporate power companies that are struggling across the country, so capital invested in those industries might be better placed.
Regulatory Changes Opportunity #1-
http://www.thecannabist.co/2016/01/27/florida-medical-marijuana-november-2016-ballot/47293/
Having been narrowly defeated in 2014, Florida voters will once again have the opportunity to legalize medical cannabis in November. The measure, which fell two years ago by 2%, will be on the ballot to see Florida become the 25th state (including Washington D.C.) to allow cannabis as an option for medical purposes. It is widely expected to pass, with online momentum seeing the legislation receive ten times the necessary signatures. The benefits of medical cannabis have been documented for two decades now, with California being the first state to pass such legislation in 1996. From combating the dreadful effects of chemotherapy, to simple pain management, cannabis offers a natural remedy in the face of harsh statistics surrounding the role of pharmaceuticals in our lives. America is the most medicated nation in the world, with each man, woman, and child averaging 13 prescriptions at any one time. Evidence condemning the toxicity of over-the-counter drugs, that many Americans depend on everyday, is released with frightening frequency. With medical cannabis's legalization, dispensaries will open and local growers will be needed. Securing a permit to open a dispensary should be only slightly more painful than opening a business and farmers looking to grow a crop that does not strip their soil of nitrogen (like cotton, which is grown on 72,422 in Florida) will also be interested in this budding industry. The continued economic boom seen in the completely-legal states of Colorado and Washington has inspired several states to join them, with 16 states voting on the issue this fall. Legalizing medical cannabis is the first step to ending prohibition altogether and those who establish themselves in the medical industry will likely continue to thrive in an open market.
Regulatory Changes Opportunity 2-
http://www.politico.com/agenda/agenda/story/2016/1/obama-regulations-2016
President Obama will look to impose an additional 4,000 regulations in 2016. One of which is to mandate that the FDA forces food companies to indicate the exact amount of sugar added to their products. This comes in the face of studies that indicates the amount of unnatural sugar that Americans consume has played a primary role in not only widely accepted diseases such as diabetes, but in cancer as well. A recent study showed that cancer cells consume 19 times the amount of sugar that a typical, healthy cell consumes, leading physicians across the world to label white table sugar as cancer fuel. The food industry has argued that the additional labeling would only confuses Americans. This is extremely troubling to me, as it perpetuates the idea that companies prey on our ignorance for profit. The Age of Information has seen consumers choose healthier options in the wake of these reports. The opportunity here is that the food and drug industries are moving towards more natural, less processed, and altogether healthier options. Any plan to get consumers fresh, nutritious food is a step in the right direction. Healthy fast food is an industry I personally expect to explode in the near future and will continue to look for opportunities to invest.
http://www.curbed.com/2016/5/26/11787632/driverless-cars-will-shrink-our-roads-and-radically-reshape-urban
The trend of driverless is expanding rapidly. An article that I read a year ago predicted that by 2035, 90% of the cars currently on the road will be replaced by what is essentially a driverless Uber. These cars will charge a flat rate of somewhere between $0.25 and $.50 a mile (depending on location) and economists believe that this trend will be one that changes the face a America. With fewer cars, business owners can now expand on their own property, as enormous amounts of parking lots will need to be converted. Parking garages in prime real estate will also provide opportunities to build in locations that were thought to be lost forever. Any person that is sick of driving their personally owned car on the continuously degrading infrastructure of this nation will benefit. Car insurance, oil changes, yearly maintenance, and many other hassles of owning a car will disappear, least of which is having to share a road with a thoughtlessly aggressive drivers on our roads today. I for one find that around 90% of the anger I experience on a daily basis comes from driving and I cannot wait to never drive again. The opportunity is a little more difficult to see, as it will likely have massive implications for the uncountable American companies associated with the auto industry. If you have stock in manufacturers, insurance companies, or petroleum in general, the opportunity might be to not see your life savings go up in flames. There are too many positives to ignore for this change, with the CO2 generation set to plummet, as well. Impending environmental restrictions will likely see this future become a reality, one that I cannot wait for.
Economic Trends Opportunity #2-
http://www.digitaltrends.com/home/tesla-energy-is-the-companys-line-of-batteries/#:PAUBkyca41rsLA
With the implications of climate change becoming a larger part of our everyday lives, more and more Americans are looking to do what they can to ween themselves off of our dependence on fossil fuels. This approach is highlighted by Telsa Energy, who are at the forefront of this industry with their more-available-than-ever battery technology. With the introduction of the new Powerwall, Tesla founder Elon Musk believes that the issues with his first generation of batteries are in the past. The new model is smaller, more efficient, and less expensive, making them affordable for most homes and businesses, with those located right here in Gainesville, FL, (home of some of the highest utility costs in the nation) amongst those that will immediately benefit from the purchase. A recent policy change that has explored the viability of leasing these units will increase its availability further. It is not only a financial investment, but one in our future, as the ensuing reduction in carbon emissions set to slow the inevitability of rising sea levels. This opportunity is similar to #1, in that the true opportunity is not one on the surface. Musk has released every patent he has attained, hoping to inspire positive change in mankind. This opportunity is more about not being left int he past as the world evolves. The increased availability of these batteries will likely be the deathblow to many corporate power companies that are struggling across the country, so capital invested in those industries might be better placed.
Regulatory Changes Opportunity #1-
http://www.thecannabist.co/2016/01/27/florida-medical-marijuana-november-2016-ballot/47293/
Having been narrowly defeated in 2014, Florida voters will once again have the opportunity to legalize medical cannabis in November. The measure, which fell two years ago by 2%, will be on the ballot to see Florida become the 25th state (including Washington D.C.) to allow cannabis as an option for medical purposes. It is widely expected to pass, with online momentum seeing the legislation receive ten times the necessary signatures. The benefits of medical cannabis have been documented for two decades now, with California being the first state to pass such legislation in 1996. From combating the dreadful effects of chemotherapy, to simple pain management, cannabis offers a natural remedy in the face of harsh statistics surrounding the role of pharmaceuticals in our lives. America is the most medicated nation in the world, with each man, woman, and child averaging 13 prescriptions at any one time. Evidence condemning the toxicity of over-the-counter drugs, that many Americans depend on everyday, is released with frightening frequency. With medical cannabis's legalization, dispensaries will open and local growers will be needed. Securing a permit to open a dispensary should be only slightly more painful than opening a business and farmers looking to grow a crop that does not strip their soil of nitrogen (like cotton, which is grown on 72,422 in Florida) will also be interested in this budding industry. The continued economic boom seen in the completely-legal states of Colorado and Washington has inspired several states to join them, with 16 states voting on the issue this fall. Legalizing medical cannabis is the first step to ending prohibition altogether and those who establish themselves in the medical industry will likely continue to thrive in an open market.
Regulatory Changes Opportunity 2-
http://www.politico.com/agenda/agenda/story/2016/1/obama-regulations-2016
President Obama will look to impose an additional 4,000 regulations in 2016. One of which is to mandate that the FDA forces food companies to indicate the exact amount of sugar added to their products. This comes in the face of studies that indicates the amount of unnatural sugar that Americans consume has played a primary role in not only widely accepted diseases such as diabetes, but in cancer as well. A recent study showed that cancer cells consume 19 times the amount of sugar that a typical, healthy cell consumes, leading physicians across the world to label white table sugar as cancer fuel. The food industry has argued that the additional labeling would only confuses Americans. This is extremely troubling to me, as it perpetuates the idea that companies prey on our ignorance for profit. The Age of Information has seen consumers choose healthier options in the wake of these reports. The opportunity here is that the food and drug industries are moving towards more natural, less processed, and altogether healthier options. Any plan to get consumers fresh, nutritious food is a step in the right direction. Healthy fast food is an industry I personally expect to explode in the near future and will continue to look for opportunities to invest.
Friday, May 20, 2016
Forming An Opportunity Belief
I have had a strong feeling that the need for numerous, healthy fast-food options exists across the world. Fast food is cheap and delicious, but at what cost? Industrial agriculture, which is defined by the Union of Concerned Scientists as "the system of chemically intensive food production developed in the
decades after World War II, featuring enormous single-crop farms and
animal production facilities," is responsible for many of the environmental issues we are currently tackling today. The most troubling of which is the depletion of the world's aquifers for the irrigation of corn that grows in arid regions. This corn is then fed to livestock, as it fattens the animals more quickly than a traditional diet. The quicker they reach weight, the faster they can be slaughtered, and the cheaper your double cheeseburger is. This system of factory-farming cannot continue in its current form, as the groundwater that is pumped from the aquifers will soon be gone. Once industrial agriculture falls, so do fast food restaurants, as they buy the cheapest-quality produce and meat. I recently read an article about organic food giant Amy's first store near San Fransisco, California, that hopes to be the first major chain to take advantage of this need. Since Amy's opened its doors just under a year ago, lines have extended out of the door for most of the time the restaurant is open. As far as a proof-of-concept, I believe Amy's has knocked it out of the park. The need is there, just as there was a need for Wendy's and Hardee's after McDonald's triumph.
I believe the ideal customer is anyone that wants a healthy and delicious meal that may be pressed for time. Given the lifestyle of today's college students, as well as universities being centers of progressive thought, I could not imagine someone more suited for this concept than us. I interviewed three students in my French class on the subject.
Question 1. How often would you say you are pressed for time to eat?
1- Everyday.
2- Multiple times a day.
3 - Several times a week.
Question 2. What are your options when this occurs?
1 - I usually just go to the nearest drive-thru. I eat fast food almost everyday.
2 - Fast food or delivery. Jimmy John's is 50% of my diet!
3 - I try and keep healthy options around my apartment, but health food is expensive and not always easy to cook. I go to Designer Greens and Daily Greens a lot when this happens.
Question 3. Do you believe quick and healthy food options are in abundance?
1 - I have no idea!
2 - Absolutely not, unless it's eating fruit.
3 - Daily Greens is my favorite! They have so many amazing option and it is affordable as well. There are a few options, but there really need to be a lot more!
Question 4. When you are pressed for time and need to eat, how often would you consider a healthy option if it were available?
1 - Most of the time. I will never fully give up fast food. I love it too much, but healthier options would probably be better for my health.
2 - I would love to eat healthy all the time, but it's expensive.
3 - I eat healthy 95% of the time. I just feel gross when I eat like crap, but sometimes I cannot resist ice cream.
Questions 5. How often would you eat at the health-food-version of McDonald's?
1 - It would definitely be included in my rotation. I would probably take girls there so they think I'm healthy.
2 - I cannot imagine a place like that! But I would definitely eat there a lot.
3 - I want to open a chain of those!
The most surprising thing that I learned during these interviews is that a similar idea exists right here in Gainesville. While Daily Greens is not quite fast food, it is certainly a step in the right direction, with a bevy of food and juice options. I believe that this need is truly uncultivated and is something that could have enormous potential. The interviews only reinforced this belief. I think that customer feedback is massively important, especially when in the early stages of an industry.
I believe the ideal customer is anyone that wants a healthy and delicious meal that may be pressed for time. Given the lifestyle of today's college students, as well as universities being centers of progressive thought, I could not imagine someone more suited for this concept than us. I interviewed three students in my French class on the subject.
Question 1. How often would you say you are pressed for time to eat?
1- Everyday.
2- Multiple times a day.
3 - Several times a week.
Question 2. What are your options when this occurs?
1 - I usually just go to the nearest drive-thru. I eat fast food almost everyday.
2 - Fast food or delivery. Jimmy John's is 50% of my diet!
3 - I try and keep healthy options around my apartment, but health food is expensive and not always easy to cook. I go to Designer Greens and Daily Greens a lot when this happens.
Question 3. Do you believe quick and healthy food options are in abundance?
1 - I have no idea!
2 - Absolutely not, unless it's eating fruit.
3 - Daily Greens is my favorite! They have so many amazing option and it is affordable as well. There are a few options, but there really need to be a lot more!
Question 4. When you are pressed for time and need to eat, how often would you consider a healthy option if it were available?
1 - Most of the time. I will never fully give up fast food. I love it too much, but healthier options would probably be better for my health.
2 - I would love to eat healthy all the time, but it's expensive.
3 - I eat healthy 95% of the time. I just feel gross when I eat like crap, but sometimes I cannot resist ice cream.
Questions 5. How often would you eat at the health-food-version of McDonald's?
1 - It would definitely be included in my rotation. I would probably take girls there so they think I'm healthy.
2 - I cannot imagine a place like that! But I would definitely eat there a lot.
3 - I want to open a chain of those!
The most surprising thing that I learned during these interviews is that a similar idea exists right here in Gainesville. While Daily Greens is not quite fast food, it is certainly a step in the right direction, with a bevy of food and juice options. I believe that this need is truly uncultivated and is something that could have enormous potential. The interviews only reinforced this belief. I think that customer feedback is massively important, especially when in the early stages of an industry.
Saturday, May 14, 2016
Bug List
1. Fans collect tremendous amounts of dust.
Dust has electrical properties that allows it to bind to other dust particles.
2. Roads are in poor condition all over the country.
This happens because our tax money is not spent on infrastructure.
3. There are not enough RTS buses.
Less students in the summer means less buses.
4. Non-stick frying pans are not actually non-stick.
Advertising regulations are lax.
5. My internet bogs down at 7pm every night.
Regulation of the internet has led to lower speeds and a less reliable product than what is enjoyed in much less modern countries with open markets.
6. The cap on my nalgene water bottle breaks off constantly.
Cheap labor equals cheap product.
7. Diet Coke still contains aspartame.
The FDA does not care about us.
8. My laptop is crashes too often.
I have to much on my hard drive.
9. UF desks hurt my back.
One size does not fit all.
10. My copper mugs rust too easily.
Oxidation is a problem for copper.
11. My dishwasher safe pint glasses are not dishwasher safe.
Companies are allowed to lie to us.
12. My leather flip flops do not last long in this climate.
Leather flips flops are likely a poor choice for this climate.
13. My store-brand window cleaner does not accomplish the task it states it does.
Cheap paper towels and cheap cleaner are not likely to be the best choices.
14. Gnats enter my apartment through an unknown entry point.
This is the most frustrating problem in the tropical and subtropical world.
15. My tire pressure does not decrease uniformly in my tires.
My driving habits are likely at fault here.
16. My dry cleaned suits always contain wrinkles.
I am not thorough enough in my inspection.
17. My PS4 controller dies too quickly.
The performance of the battery is poor.
18. My soundbar is not as powerful as it once was.
A common issue.
19. Not enough non-GMO choices at Publix.
Most people do not know what GMO's are.
20. My grill requires near constant maintenance despite me taking care of it.
Grills only last a few years.
This was not terribly difficult for me. I notice a lot in my daily life and regurgitating these 'bugs' was fairly simple. The most difficult part was avoiding listing bugs that are people-based.
Dust has electrical properties that allows it to bind to other dust particles.
2. Roads are in poor condition all over the country.
This happens because our tax money is not spent on infrastructure.
3. There are not enough RTS buses.
Less students in the summer means less buses.
4. Non-stick frying pans are not actually non-stick.
Advertising regulations are lax.
5. My internet bogs down at 7pm every night.
Regulation of the internet has led to lower speeds and a less reliable product than what is enjoyed in much less modern countries with open markets.
6. The cap on my nalgene water bottle breaks off constantly.
Cheap labor equals cheap product.
7. Diet Coke still contains aspartame.
The FDA does not care about us.
8. My laptop is crashes too often.
I have to much on my hard drive.
9. UF desks hurt my back.
One size does not fit all.
10. My copper mugs rust too easily.
Oxidation is a problem for copper.
11. My dishwasher safe pint glasses are not dishwasher safe.
Companies are allowed to lie to us.
12. My leather flip flops do not last long in this climate.
Leather flips flops are likely a poor choice for this climate.
13. My store-brand window cleaner does not accomplish the task it states it does.
Cheap paper towels and cheap cleaner are not likely to be the best choices.
14. Gnats enter my apartment through an unknown entry point.
This is the most frustrating problem in the tropical and subtropical world.
15. My tire pressure does not decrease uniformly in my tires.
My driving habits are likely at fault here.
16. My dry cleaned suits always contain wrinkles.
I am not thorough enough in my inspection.
17. My PS4 controller dies too quickly.
The performance of the battery is poor.
18. My soundbar is not as powerful as it once was.
A common issue.
19. Not enough non-GMO choices at Publix.
Most people do not know what GMO's are.
20. My grill requires near constant maintenance despite me taking care of it.
Grills only last a few years.
This was not terribly difficult for me. I notice a lot in my daily life and regurgitating these 'bugs' was fairly simple. The most difficult part was avoiding listing bugs that are people-based.
My Entrepreneurship Story
The most important moment with regards to my understanding of what an entrepreneur actually is came when I watched a series on The History Channel titled The Men Who Built America.
It is a four-part series detailing the the lives and contributions of Cornelius Vanderbilt, John D. Rockefeller, Andrew Carnegie, J.P. Morgan and Henry Ford, among others. Before viewing this, my interpretation of the word 'entrepreneur' was simply someone that owned their own business. While true, it is rather elementary when considering that the aforementioned gentlemen invented entire industries that have laid the groundwork for the modern, global economy that we have today. It is not just about supporting your family, but growing a business that can support hundreds or thousands of families through employment. The history of this nation was has been written by the work of entrepreneurs and before watching that series, I was completely ignorant to their massive contributions to our society.
I am taking this class in no small part because I want to have a positive impact on as many people as I can and in some form, that will require skills that I hope to learn in this class. Being able to solve problems and to keep moving forward to accomplish your goals are important in both life and entrepreneurship and I hope to add to my arsenal on problem-solving skills with this class!
It is a four-part series detailing the the lives and contributions of Cornelius Vanderbilt, John D. Rockefeller, Andrew Carnegie, J.P. Morgan and Henry Ford, among others. Before viewing this, my interpretation of the word 'entrepreneur' was simply someone that owned their own business. While true, it is rather elementary when considering that the aforementioned gentlemen invented entire industries that have laid the groundwork for the modern, global economy that we have today. It is not just about supporting your family, but growing a business that can support hundreds or thousands of families through employment. The history of this nation was has been written by the work of entrepreneurs and before watching that series, I was completely ignorant to their massive contributions to our society.
I am taking this class in no small part because I want to have a positive impact on as many people as I can and in some form, that will require skills that I hope to learn in this class. Being able to solve problems and to keep moving forward to accomplish your goals are important in both life and entrepreneurship and I hope to add to my arsenal on problem-solving skills with this class!
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