Penn Law students recently held a workshop for aspiring entrepreneurs. During the workshop, they “assisted aspiring entrepreneurs in learning how to structure, brand and finance their new businesses.” (Article). I think that this is a great community service outreach program for the law school to do. Perhaps Notre Dame Law could consider doing something like this? It seems like a great opportunity to help develop the start up community in South Bend, while providing high quality legal services.

Here is an interesting article about the future of Machine Learning. For those who do not know, machine learning gives “computers the ability to learn without being explicitly programmed.” (Wikipedia, quoting Arthur Samuel). Machine learning allows businesses to “address every one of its hundreds or thousands of customers is with a machine that can process information in a way that no human is capable of doing.” (See Article). I find it fascinating to see how companies can take this seemingly futuristic technology and put it to work for their customers. For example, the article mentions numerous companies that are using it for chatting with customers, etc. (See id.). I would also note that some legal services companies have begun using machine learning, such as Kira. Overall, an interesting read about the future.

Here is an interesting video interview with a JD/CPA regarding filing tax extensions. I share this article not necessarily for the point of actually filing tax extensions, but more so that I think it can show us how we should know the various administrative and legal options that our clients can have, as we advise them. We should be thinking through all of these choices for our clients, especially because they might not be aware of them. Even if filing a tax extension, for example, doesn’t seem like an “ideal” solution, it is still a perfectly legal option if done correctly. Thus, we should always be sure to think through the options for our clients.

Here is an interesting article about how small businesses (or, at least, what starts as a small business) needs to think about scaling up into a large business. The article features a lengthy story and recounting of an interview/conversation with LinkedIn founder Reid Hoffman. (see article). The main takeaway from the lengthy article is that entrepreneurs beginning to scale up should “expect chaos.” Id. I think that this advice can be generalized to many aspects of life. Entrepreneurs and attorneys alike should be ready for chaos. We can’t always expect everything to line up perfectly. You need to be adaptable to the situation. I think that thinking like this can help us both serve our clients and to improve our own lives.

This article discusses the myth of the “unicorn entrepreneur,” stating: “In the public mind, entrepreneurs have been reduced to young people who want to create world-changing businesses that can quickly reach $1 billion or more in market value — the fabled unicorns.”

In reality, the article discusses, entrepreneurship can be much messier. The article gives its own definition to “entrepreneurship”: “A more useful definition might be someone who sees an opportunity to create value and is willing to take a risk to capitalize on that opportunity; some elements of this are opportunity spotting, risk taking, and value creation.”

The article also discusses the value in having entrepreneurship increase in developing economies, stating: “A key to accelerating the growth of developing economies will be the ability to encourage more and more entrepreneurs throughout these countries, both in growing cities and in rural areas. While they may not be unicorn entrepreneurs, they can create value in their neighborhoods and perhaps beyond.”

The article also references Peter Drucker, who we have discussed in class, by describing the differences in management between larger firms and smaller companies. The article concludes: “We’re on the cusp of a Big Shift from an employee society to an entrepreneurial one, as Peter Drucker so perceptively predicted. The forces driving it are too big, too inexorable to turn back That might be frightening to employees, but it’s exciting to entrepreneurs.”

Article: http://www.citylab.com/work/2016/10/rise-of-the-urbanpreneur/504434/

We’ve read David Pozen, and so we’ve seen how the term “entrepreneur” has come to encapsulate so much over the past few decades, and how the term is always growing (to include “social entrepreneurs,” for example). See David Pozen, “We Are All Entrepreneurs Now.” 43 Wake Forest L. Rev. 283 (2008))

There’s a new spin on the classic definition: the rise of the “urbanpreneur.”

Boyd Cohen, “professor of entrepreneurship and sustainability at EADA Business School in Barcelona, Spain, and joint professor at the Universitat de Vic,” has coined the phrase. Describing the term, he states: “Entrepreneurs can live anywhere in the world and focus on any industry. Urbanpreneurs embed in their socio-ecological environments—cities and towns—to draw influence. They’re tapping into what cities have to offer so they can collaborate and innovate in their community.”

The term seems to share the most similarities with what we refer to as the “social entrepreneur.” Cohen states: “Urban entrepreneurs come in all shapes and sizes and not all of them fit that mode. Many young entrepreneurs aspire to have an impact on their local communities more than becoming the next Bill Gates or Mark Zuckerberg.”

He continues to define the term “urbanpreneur,” and states there are “three distinct types of indie urbanpreneurs: makers, digital indie, and on-demand or gig economy urbanpreneurs.”

Cohen also discusses “civic entrepreneurship,” which, again, aligns naturally with social entrepreneurship.

The article is an example of David Pozen’s theory come to life; Cohen’s descriptions of the urbanpreneur (and the three different types) as well as the civil entrepreneur truly show the malleability of the term “entrepreneurship.”

This article tracks the successes of several college-level entrepreneurs (as many know, Facebook was started in a Harvard dorm). The article discusses a trend at universities: more and more institutions are beginning to fund the business ideas of their undergraduates.

One organization called Y Combinator provides funding for startups, and has a three-month program where it accepts young entrepreneurs, providing them funding with one caveat: the business “give[s] up a percentage of [their] start-up’s equity.” The program is “more competitive than Harvard or Yale.”

Speaking about the rise of campus incubators, the article states: “That’s revolutionary thinking for a university culture that has long focused on the inventions of graduate students and faculty. But campuses are beginning to put their bets on undergraduates. Who better understands the social media mindset? And what campus wouldn’t want an Instagram founder as an alum?”

Nonetheless—in a manner that parallels our discussion about monetary donations to charities—the article states: “Some do little more than provide free or cheap space and a coffee machine. What entrepreneurs really need is guidance and like-minded peers.” Some universities, such as George Washington University, have remedied that problem by hosting workshops for young entrepreneurs.

The article is very interesting and pertinent to our class: it discusses the ever-growing meaning of the term “entrepreneur” (see also David Pozen, “We Are All Entrepreneurs Now.” 43 Wake Forest L. Rev. 283 (2008)), analyzes the various issues that entrepreneurs face, and offers fresh insight on the typical financial situation for many young entrepreneurs.

In a very interesting article that includes a transcript of his speech, Pope Francis addressed the International Christian Union of Business Executives (UNIAPAC) about how to be a just entrepreneur.

The article states: “Francis told the entrepreneurs to assume specifically three risks: ‘the risk of using money well, the risk of honesty, and the risk of fraternity.’”

Pope Francis addressed the crowd: “You have come to Rome – to the Vatican — in response to an invitation from Cardinal Peter Turkson and the authorities of the International Christian Union of Business Executives [UNIAPAC] for the noble purpose of reflecting on the role of business persons as agents of economic and social inclusion. I want to assure you, now, of my support and prayers for your work. God’s Providence has willed that this UNIAPAC meeting coincide with the end of the Extraordinary Jubilee Year of Mercy. All human activity – including entrepreneurial activity – can be an exercise of mercy, while participating in God’s love for man.”

Very worth the read, and amazing to see how Pope Francis seamlessly weaves together entrepreneurial vision with the Catholic mission.

https://www.brandsouthafrica.com/south-africa-fast-facts/social-entrepreneurs-building-south-africas-economy

The impact of this article indicates that there are many social entrepreneurs who are making a difference in the economy and society of South Africa. While South Africa tends to have the perception of high poverty and social issues, this article shows that there are entrepreneurs who want to improve the society’s underlying problems. It is very inspirational to see such commitment.