Training the next generation of entrepreneurs.
Creating Captains of Industry
The term Captain of Industry was first used in the United Kingdom during the Industrial Revolution to describe a business leader who contributed positively to his country while amassing a fortune. It indicated that he was able to increase productivity, create a great many jobs and expand new markets while remembering his duty to society as a philanthropist. The term resurfaced recently after the dot.com bubble burst and was used for those strong enough to survive the turmoil. People like Bill Gates, co-founder of Microsoft, Peter Thiel, venture capitalist and founder of Pay Pal, and Steve Jobs, founder of Apple Computer, are among those who fit into this category.
There have been books written about these men that analyze what makes them so special. One common thread is that they shared a rich and varied childhood that was filled with educational opportunities along with parental encouragement to be creative.
As a boy Steve Jobs and his father, a Coast Guard veteran and machinist, spent hours doing electronics in their family garage. Throughout his childhood Steve had the warmth and support of his family. He was an intelligent innovative thinker, often frustrated by the traditional school system. His enrollment at Reed College was short lived and he spent some of his college years traveling and looking for spiritual enlightenment. Working with Dad gave Steve mechanical skills, stick-to-it-ness, and the confidence that eventually propelled him to take his hobby to the work place. His spiritual quest helped him think in new ways. He and friend, Steve Wazniak, started Apple Computer together in his family’s garage.
Bill Gates, born in Seattle, also grew up in a warm supportive family. By the time he was 13 years old he was showing a strong interest in computer programming. He, too was an innovator, encouraged by his parents to strive for excellence and to be competitive. Bill enjoyed playing board games and athletics to win. His socially minded mother introduced him to charity work and took him with her when she volunteered. At the age of 15, Bill with his friend Paul Allen started a company called “Traf-o-Data.” The company netted
$20,000 and he wanted to drop out of school to continue in business. Dad insisted that he complete his education and after high school he enrolled at Harvard. Bill’s passion was always in the computer lab, and he and Paul Allen continued their friendship while he was in college, coming up with an idea that eventually became Microsoft.
Peter Thiel was born in Germany, moving to the US as a toddler. He is one of the most successful venture capitalists in the tech industry. Now president of investment company, Clarian Capital, he co-founded PayPal and was the first angel investor in Facebook. Thiel is a math genius who was a national level chess player at one time claiming that his competitiveness and intellectual skills were developed by playing the game. Peter is somewhat of a loner, is a self proclaimed Libertarian with a “Born to Win” attitude. As a Stanford University man he studied philosophy and law and worked on the Stanford Review with the same intensity that consumes our other Captains of Industry. Thiel is considered to be somewhat nerdy, loves intellectual discussions with friends, hangs around coffee shops, is a philanthropist and dreams of a utopian world where everyone lives to 150 years. He started PayPal with the belief that it would help society by giving people individual and financial freedom.
What are the attributes that these three men share and how do you encourage the children you know to develop them? Each child grew up in a stable and loving family that supplied a foundation of security and trust. All had parents who supported their intellectual development, making sure they were broadly educated, allowing for idiosyncrasies to blossom outside of the school system. The three men became involved in endeavors they were passionate about while they were still in high school.
Whether it was computers, electronics, or chess, they were encouraged to master what they were doing, and experienced great enjoyment from being totally immersed in their pastimes. They had the ability to concentrate, to persevere when there were failures, and believed strongly that they were winners. Each man developed deep friendships based on mutual interests and used their social network when starting their businesses. They were intelligent and encouraged by their families to think outside the box. Their families regularly involved them in discussions, introduced news topics, and helped them develop a social conscience.
As adults we can aide the children in our lives by helping them find their passion through involvement in science, math and the arts. Once a strong interest is shown, we can provide the tools and training necessary to develop their skills, encouraging them to concentrate and be tenacious so they can experience success that comes from mastery.
Passion breeds excitement, concentration, a willingness to become totally immersed, and to work hard. A by- product is the friendships developed with those who share interests. Once this type of passion is experienced, a person can not help but want the excitement it produces to continue. Lessons learned as a child will transfer to other endeavors throughout life.
Our role as family and friends is to supplement the school system. Since we know our own children better than anyone else, we can better help them find their passions, and set the stage for our next Captains of Industry.
Want to know more? Try the following references:
Steve Jobs by Walther Isaacson
http://www.wired.com/2012/07/ff_stevejobs/all/ The Story of Steve Jobs: An Inspiration or a Cautionary Tale? 2012
Bill Gates: a Biography by Michael B. Becraft
http://www.biography.com/people/bill-gates-9307520: Bill Gates Biography
Zero to One by Peter Thiel
Peter Thiel: Entrepreneur. Investor. Author. Former national chess master.
Peter Thiel: Entrepreneur.Investor.Author.Former national chess master. 2014
Creating Captains of Industry
The term Captain of Industry was first used in the United Kingdom during the Industrial Revolution to describe a business leader who contributed positively to his country while amassing a fortune. It indicated that he was able to increase productivity, create a great many jobs and expand new markets while remembering his duty to society as a philanthropist. The term resurfaced recently after the dot.com bubble burst and was used for those strong enough to survive the turmoil. People like Bill Gates, co-founder of Microsoft, Peter Thiel, venture capitalist and founder of Pay Pal, and Steve Jobs, founder of Apple Computer, are among those who fit into this category.
There have been books written about these men that analyze what makes them so special. One common thread is that they shared a rich and varied childhood that was filled with educational opportunities along with parental encouragement to be creative.
As a boy Steve Jobs and his father, a Coast Guard veteran and machinist, spent hours doing electronics in their family garage. Throughout his childhood Steve had the warmth and support of his family. He was an intelligent innovative thinker, often frustrated by the traditional school system. His enrollment at Reed College was short lived and he spent some of his college years traveling and looking for spiritual enlightenment. Working with Dad gave Steve mechanical skills, stick-to-it-ness, and the confidence that eventually propelled him to take his hobby to the work place. His spiritual quest helped him think in new ways. He and friend, Steve Wazniak, started Apple Computer together in his family’s garage.
Bill Gates, born in Seattle, also grew up in a warm supportive family. By the time he was 13 years old he was showing a strong interest in computer programming. He, too was an innovator, encouraged by his parents to strive for excellence and to be competitive. Bill enjoyed playing board games and athletics to win. His socially minded mother introduced him to charity work and took him with her when she volunteered. At the age of 15, Bill with his friend Paul Allen started a company called “Traf-o-Data.” The company netted
$20,000 and he wanted to drop out of school to continue in business. Dad insisted that he complete his education and after high school he enrolled at Harvard. Bill’s passion was always in the computer lab, and he and Paul Allen continued their friendship while he was in college, coming up with an idea that eventually became Microsoft.
Peter Thiel was born in Germany, moving to the US as a toddler. He is one of the most successful venture capitalists in the tech industry. Now president of investment company, Clarian Capital, he co-founded PayPal and was the first angel investor in Facebook. Thiel is a math genius who was a national level chess player at one time claiming that his competitiveness and intellectual skills were developed by playing the game. Peter is somewhat of a loner, is a self proclaimed Libertarian with a “Born to Win” attitude. As a Stanford University man he studied philosophy and law and worked on the Stanford Review with the same intensity that consumes our other Captains of Industry. Thiel is considered to be somewhat nerdy, loves intellectual discussions with friends, hangs around coffee shops, is a philanthropist and dreams of a utopian world where everyone lives to 150 years. He started PayPal with the belief that it would help society by giving people individual and financial freedom.
What are the attributes that these three men share and how do you encourage the children you know to develop them? Each child grew up in a stable and loving family that supplied a foundation of security and trust. All had parents who supported their intellectual development, making sure they were broadly educated, allowing for idiosyncrasies to blossom outside of the school system. The three men became involved in endeavors they were passionate about while they were still in high school.
Whether it was computers, electronics, or chess, they were encouraged to master what they were doing, and experienced great enjoyment from being totally immersed in their pastimes. They had the ability to concentrate, to persevere when there were failures, and believed strongly that they were winners. Each man developed deep friendships based on mutual interests and used their social network when starting their businesses. They were intelligent and encouraged by their families to think outside the box. Their families regularly involved them in discussions, introduced news topics, and helped them develop a social conscience.
As adults we can aide the children in our lives by helping them find their passion through involvement in science, math and the arts. Once a strong interest is shown, we can provide the tools and training necessary to develop their skills, encouraging them to concentrate and be tenacious so they can experience success that comes from mastery.
Passion breeds excitement, concentration, a willingness to become totally immersed, and to work hard. A by- product is the friendships developed with those who share interests. Once this type of passion is experienced, a person can not help but want the excitement it produces to continue. Lessons learned as a child will transfer to other endeavors throughout life.
Our role as family and friends is to supplement the school system. Since we know our own children better than anyone else, we can better help them find their passions, and set the stage for our next Captains of Industry.
Want to know more? Try the following references:
Steve Jobs by Walther Isaacson
http://www.wired.com/2012/07/ff_stevejobs/all/ The Story of Steve Jobs: An Inspiration or a Cautionary Tale? 2012
Bill Gates: a Biography by Michael B. Becraft
http://www.biography.com/people/bill-gates-9307520: Bill Gates Biography
Zero to One by Peter Thiel
Peter Thiel: Entrepreneur.Investor.Author.Former national chess master. 2014