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JUMPSTART
JUMPSTART
9
Empowering the Next Generation of Entrepreneurs
Keeping the Lights On
Allison Baum, Managing Director at Fresco Capital, was recently asked to speak at the opening event of Baker
& Bloom, an innovative education center in Hong Kong that aims to empower young people with confidence
through courses like social entrepreneurship, creative writing, and many others. The topic was “How can we create
entrepreneurs and innovators?” A powerful question, indeed: how can we effectively teach our youngsters to be
gritty, driven, creative, and innovative? Especially in a place like Hong Kong, where everyone has plenty to say on
why the education system is broken, the answer to that question could transform generations. As Allison reflects
upon her own journey, she proposes that perhaps the job is easier than we think. Perhaps we don’t need to create
entrepreneurs at all.
A
s I reflected upon my own
journey, it occurred to me
that perhaps this problem
of “creating entrepreneurs
and innovative thinkers” is a false
choice. Perhaps we don’t need to
create them at all. I would argue
that all children are born with a
natural light inside them. A natural
penchant to create, to innovate, to
affect positive change in the world
around them. Our job as educators,
investors, parents, friends, and
members of society is simply to
figure out how to keep that light
from dying out, to fan the flames of
entrepreneurship within each child,
and to empower them with the
tools and the confidence to pursue
their unique passions.
Of course, I’m not going to even
pretend that I know how to do that,
because I do not. But I can share
my own experience of how that light
of entrepreneurship within me died
out, how I was able to turn it back
on again, and what I am doing now
to keep the lights on for as many
people in the world as possible.
When I was a child, I was
incredibly creative, eager to try new
things, and always trying to find a
way to be different. In second grade,
I boldly proclaimed to my friends
that I LOVED homework. I wrote
a series of books about a cartoon
aardvark named Dixie and her best
friend, Missy the Chicken. I started a
custom pillow business where I sold
basketball shaped, heart shaped,
and animal shaped pillows to literally
anyone who would buy them,
from my extended family, to my
neighbors, to my computer teacher,
Mr. Gilhooley.
But somewhere between the
social pressures of trying to fit in,
wanting to look cool but also wanting
be successful, between attempting
to work hard, play sports, be editor
of the Yearbook, and study for the
SAT’s, between getting into Harvard,
wanting to be the “perfect student”,
daughter, friend, or girlfriend, I
forgot how to be weird, crazy, and
to try new things. Instead, I simply
learned how to be the best according
to other people’s standards.
As a sophomore at Harvard, I was
recruited to work on Wall Street,
within the Sales & Trading division at
Goldman Sachs. I had no idea what
a “derivative” was, but I knew that
it was an exclusive world that was
very competitive and fast-paced,
filled with smart people, and that I
should be grateful for such a sought
after opportunity. Throughout my
four years at University, in spite
of career counselling, academic
advisors, and a diverse group of
friends, I can honestly say it never
even once occurred to me to do
something else. So, after graduating
with a degree in Economics and
Film Studies, I joined the Equity
Derivatives team at Goldman in New
York.
My parents were extremely proud,
people were always impressed by
my business cards, I was able to
support myself and even save a little
money, and a lot of people wanted
to have my job. I felt lucky, but I was
sad. I was busy, but I was stressed. I
absolutely hated myself for not just
being grateful for what I had, but
there was no spark. I had no idea
what it was, but something was
missing. Somewhere along the way,
that crazy pillow saleswoman had
closed shop and that little light inside
me had gone out.
In 2012, I decided to do
something about it. I took a leap
of faith and left Goldman to join
an early stage education start up
in New York City called General
Assembly. I was an early member
of the team and saying I got thrown
into the deep end is putting it lightly.
I was tasked with building out their
long-form courses for practical
digital skills for entrepreneurs programs to teach people how to
code, digital marketing, dat