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By 2020, half of the world’s saving and investment will take place in emerging markets, and there will be a substantial gap between global investment demand and the world’s likely saving. This will put upward pressure on real interest rates and require adjustment by financial institutions, non-financial companies, investors, and policy makers.
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NASDAQ in Times Square, New York City, USA.
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Thomas Stanley and William Danko wrote a book entitled:
The Millionaire Next Door … The Surprising Secrets of America’s Wealthy”.
They produced a portrait of who America’s millionaires are and show that by and large these are quiet, understated, self-reliant Americans who are committed to hard work, education, and family.
Their portrait shows that eighty percent of our millionaires are first generation affluent, that less than half received not a cent of inheritance, and only 19% get any income from a trust fund or estate.

Most Americans … 80% … are not self-employed … of those that are, two thirds are our millionaires.

Seventy five percent of these self-employed millionaires are entrepreneurs, and the remaining quarter are self-employed professionals like doctors and accounts.
Sure, we have high profile billionaires in America, however most of our millionaires are the nation’s bread and butter entrepreneurs and small business owners with annual incomes near $250,000.
These are overwhelmingly self-made individuals, by a large founders and proprietors of prosaic businesses like: welding contractors, auctioneers, rice farmers, owners of mobile-home parks, pest controllers, coin and stamp dealers, paving contractors, etc.
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Your Apps Are Watching You

January 4, 2011

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This a contribution from an eSociety member.

A WSJ Investigation finds that iPhone and Android apps are breaching the privacy of smartphone users


Few devices know more personal details about people than the smartphones in their pockets: phone numbers, current location, often the owner’s real name—even a unique ID number that can never be changed or turned off.

Click here to read the full article:

Click here to view all the different apps and how they pull data:

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New AngelList Feature Lets You Control Which Investors See Your Startup Pitch

ventuurehacksLogo.jpgCreated by VentureHacks‘ Naval Ravikant and Babak NiviAngelListvets startup pitches and distributes them to a list of angel investors. Since launching in February, AngelList has received a lot of praise, from both investors and entrepreneurs, for the work it does in helping startups find early stage funding and helping angel investors find new companies.

Initially an email list, now there’s a whole website devoted to the endeavor. And now, new features will give entrepreneurs even more control over where their pitch is directed.

angellist_filters.jpgWhen you add your startup to AngelList, you will have the option to select the angels you think should see your startup. If you don’t pick them, these angels will not have access to your information. You will be able to search for investors by name, as well as filter the list by fund type (angel, VC), activity (for example, is the angel actively seeking investments), and location.

Why the new feature? According to AngelList, it gives startups more control over who sees their information. “Avoid angels who’ve invested in competitors, keep your pitch hidden while you’re still editing it, avoid VCs, embrace VCs, pitch VCs on your Series A, test out your pitch on half the list first, pitch local investors, et cetera, et cetera.” For most folks, particularly for new entrepreneurs, your best bet may still be to have your pitches go to everyone on the list.

As one person says on Quora, AngelList “adds an amazing amount of value to the community and an increasingly important piece to the Valley. One of the most important factors in a startup ecosystem is matching quality startups with quality capital.” With new features to the site, that quality matching just got a nice little fine-tuning.

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Jason Mendelson Session At TechStars
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Which U.S. States Are the Most Entrepreneurial?

formsds.jpgThe website has posted a very interesting map with a breakdown of investment dollars over the course of the past year. The map caught the eye of Boulder-based venture capitalist Jason Mendelson – not surprisingly, as the map points to Colorado as one of the most entrepreneurial states. bases its findings on the filings, as the name suggests, Form D, an SEC requirement when startups and other privately-held companies raise venture capital. By tracking these filings, the site is able to get a decent glimpse into not just to whom but to where the money is headed.

According to‘s findings, Massachusetts leads the pack with 100 fundraisings per million people, but Colorado comes in a close second with 95 fundraisings per million people.


It’s worth noting that this figures isn’t investment dollars per capita. When looking at those figures, Massachusetts still leads the other states at $418 per person. California comes in second at $312 per person. But Colorado is third, with $209 per person.

It’s also worth noting that these figures cover all investment, not just the tech sector, and Colorado continues to do well in the energy sector (less so in the NFL).

Nevertheless, New York entrepreneurs – please defend your state (or not) in the comments.

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Many companies struggle to make and execute key decisions. Our Decision Insights series describes a five-step process that can boost your organization’s decision effectiveness and improve its performance. In this issue, we explain how the third step enables companies to reset individual decisions so that they work smoothly and effectively. We think of the four parts of this process as fixing the What, Who, How, and When of the decision. The article summarized below will help you address each one.

By Marcia W. Blenko, Michael C. Mankins and Paul Rogers

Too many organizations fail to make and execute their critical decisions well, and their performance suffers as a result. But you can reset key decisions to get them working better. The key is to focus on just four elements:

  • Clarify the what of the decision. Help everyone understand exactly what decision is under consideration.
  • Determine the who. Specify who will play the key roles—recommending a course of action, offering input, signing off on the recommendation, making the decision and then executing it.
  • Understand the how. Establish a clear process for gathering data, agreeing on criteria and preparing alternatives.
  • Make the when explicit. Create clear timelines for making the decision—and executing it.

The four steps together are a great way to cut through logjams and get things working more effectively. We describe each step in detail and show how companies apply them in our book Decide & Deliver, and on the website

Download the PDF

Read past issues of Decision Insights:

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