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Suggest who benefitsDashboard: Are We Getting Better at Teaching Entrepreneurship?
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Suggest questionThis week, Frank Rimalovski, who is head of both the NYU Entrepreneurial Institute (https://entrepreneur.nyu.edu/about-us/) and the NYU Innovation Venture Fund (https://entrepreneur.nyu.edu/resource/innovation-venture-fund/) discusses how his programs help young entrepreneurs build businesses — and why sometimes the most valuable lesson he can offer is to NOT start a business. He also talks about whether you can teach resilience, how he views the strengths and weaknesses of venture capital, and what the growing impact of artificial intelligence will be on programs like his.
About 21 Hats
The proponents of employee stock ownership plans can make them sound like the greatest thing ever. A business owner can take a big chunk of money off the table—or even all of it—while still getting to run the business. And there are some pretty great tax breaks. Oh, and it will also solve income inequality in America. On the other hand, if ESOPs are so smart, why are there so few of them?
Jim Kalb of Triad Components Group in San Diego and Jeff Taylor of Crafts Technology in Chicago have both implemented ESOPs. Jay Goltz of the Goltz Group in Chicago has reached his 60s without a succession plan, and he’s considering his options. In this 21 Hats Conversation, you get to listen in on a street-smart discussion of the pluses and minuses of ESOPs from the business owner’s point of view.