Wednesday, January 31, 2018

High-Growth Entrepreneurship

High-Growth Entrepreneurship
Brown, Earle, Kim, Lee


Motivation:
Nearly all net job creation from startups HJM 2913
most startups fail
most survivors don't grow
some grow and few grow a lot.
employment growth highly skewed.


Questions about high growth
- distribution of size at entry
- persistence of size as firms age
- founding characteristics
- persistence of characteristics



Related research: firm size, age, and growth
- small firms are job creators (Birch 1978)
- Newmark e al (2011) confirms negative size growth relation
HJM (2013) age much more important than size
Hurst and Pugsley (2011): typical small firms dont' grow. Non-pecuniary motives for SBOs.

High-growth firms
- Gazelles: high-growth firms
absolute change vs gorwth rate.
OECD (2007) among firms less than 10 employees with annual growth of more than 20 percent
Acs et al (2008 dE * dE / E > 2. Over 4 years.

Caveats
- age often not measured or controlled for
- entry job creation excluded
- low persistence of growth over time

Firm Cohort studies
- Kauffman Firm Survey
- Cabral and Mata (2003)

Entry Age 0 from Business Register
Age 7 employment in same quarter.

Weight founders by industry


HG is y; top 5% of the employment for found i, firm j and year t.




Monday, January 29, 2018

Millennial & Suburbs

http://www.newgeography.com/content/005866-the-screwed-millennial-generation-gets-smart
As millennials grow up, they are moving to the ’burbs at an even faster pace than previous generations did at the same age.
In the process, note authors Snyder and Kurimska, their generation is also changing suburbia. “These transplants value high social cohesion and want neighborhoods with walking trails and other community features like fitness centers, local shops and manmade lakes,” they observe. They may also initially at least choose smaller homes, according to Zillow, and often in places closer to work and with more things close by to do. The good news for them: The majority of new jobs continue to be created in suburbs, along with most theaters, ethnic restaurants, and music venues.
At the same time, millennials are shifting to different regions. Much of this has to do with housing costs. The income required to buy a home in Silicon Valley ($216,000), San Francisco ($171,000), Los Angeles ($115,000), or New York City ($100,000) dwarfs what is required in places like Orlando ($54,000), San Antonio ($54,000), or Nashville ($47,000).

Tuesday, January 23, 2018

Moscow City

http://www.ucl.ac.uk/dpu-projects/Global_Report/pdfs/Moscow.pdf

The 2001 housing programme was carried out completely. The construction of 3.5 million m2 of housing in 2001 offered 64,700 families a chance to improve their housing conditions, that is, 6,700 more families than in 2000.

https://ac.els-cdn.com/S0264275116301731/1-s2.0-S0264275116301731-main.pdf?_tid=0e52cf40-0087-11e8-b17b-00000aab0f27&acdnat=1516744250_722021859652c8ca1cd3735f990e0861

http://www.tandfonline.com/doi/pdf/10.2747/1538-7216.43.3.170

Election of Navalny
http://kireev.livejournal.com/959762.html

Average income by year & occupation
http://reconomica.ru/%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0/%D1%81%D1%82%D0%B0%D1%82%D0%B8%D1%81%D1%82%D0%B8%D0%BA%D0%B0/%D1%81%D1%80%D0%B5%D0%B4%D0%BD%D1%8F%D1%8F-%D0%B7%D0%B0%D1%80%D0%BF%D0%BB%D0%B0%D1%82%D0%B0-%D0%BC%D0%BE%D1%81%D0%BA%D0%B2%D0%B0-2017/

Migrants
https://im4.kommersant.ru/ISSUES.PHOTO/DAILY/2013/212/_2013d212-04-01.jpg
https://www.kommersant.ru/doc/2346837

Brief Description about raion
http://nesiditsa.ru/city/moscow

Ecological
http://mestopodsolntsem.ru/ekologicheskaya-karta-moskvy/

Best places to live
https://finance.rambler.ru/sovety/ekonomiya/eksperty-nazvali-luchshie-rayony-moskvy-dlya-zhizni-i-otdyha/

Savings & Millennials

Sixteen percent say they have $100,000 or more in savings, up from 8% in 2015. And nearly half (47%) have $15,000 socked away, up from 33% in 2015.
https://www.usatoday.com/story/money/2018/01/23/millennials-1-6-now-have-100-000-socked-away/1053803001/

Monday, January 22, 2018

Amazon 2nd HQ

https://www.bloomberg.com/view/articles/2018-01-19/amazon-is-sure-acting-like-it-s-going-to-pick-the-d-c-area?utm_content=view&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social&cmpid%3D=socialflow-twitter-view

As I'm sure you're aware, Amazon founder and Chief Executive Officer Jeff Bezos already owns a major media company based in Washington. He paid $23 million in October 2016 for the biggest house in town. 1 Amazon Web Services, the company's fast-growing (and consistently profitable, unlike the rest of the business) cloud-computing division, went public last summer with plans to open its East Coast corporate campus in Northern Virginia, where it has major data center operations and is reportedly in the market for 2 million square feet more. Oh, and Northern Virginia is already home to the nation's, and probably the world's, biggest concentration of cloud-computing infrastructure.

More generally, the Washington metropolitan area is the nation's sixth most populous (fourth, if you go by the combined statistical area, which includes Baltimore) and ranks among the nation's top three "tech cities," according to real estate services firm Cushman and Wakefield Inc., with an ample supply of the skilled workers Amazon will need. Finally, we live in an age in which decisions made in Washington may end up being of existential importance for tech titans with a tendency toward monopoly. Sure seems like a good idea to have a big presence in the neighborhood.


https://www.cnn.com/2018/01/20/opinions/amazon-headquarters-competition-disturbing-richard-florida-opinion/index.html

At the top of the list, I would place New York, the greatest headquarters city in the world, and DC, the world's power corridor. When I asked Scott Galloway, the author of the book "The Four," where he thought Amazon would place its new headquarters, he simply said: New York, New York, and New York. But, DC is perhaps an equal or even better contender. Because Jeff Bezos already owns The Washington Post, an additional 50,000 Amazon jobs in the DC area might help deflect Congressional attention from his company's monopolistic tendencies. Not to mention, a key predictor of corporate headquarters location is where the CEO has a home. Bezos has homes in DC, Manhattan, and Beverly Hills, which might also explain LA's inclusion on the list.


https://www.washingtonpost.com/local/their-eyes-are-on-dc-capital-area-said-to-have-good-shot-at-amazon-hq2/2018/01/20/27a92898-fd37-11e7-8f66-2df0b94bb98a_story.html?utm_term=.672dbff5f8e1

Montgomery County and Northern Virginia have not publicly divulged the sites, for fear of hurting their competitive position. But local officials, speaking on the condition of anonymity, identified some of the locations. Montgomery, they said, has proposed two Maryland sites: White Flint and another nearby in North Bethesda. Both enjoy support from the state and county.

Sites proposed in Northern Virginia, the officials said, which also are said to enjoy state support, include:

• A plot near Dulles International Airport occupied by the Center for Innovative Technology and supported jointly by Fairfax and Loudoun counties.

• A site in the Crystal City/Potomac Yard area, backed by Arlington and Alexandria.

• Two sites in Prince William County — Potomac Shores in the eastern part of the county and Innovation Park in the western part.

The District has publicly identified four sites: Anacostia Riverfront, NoMa-Union Station, Hill East and Shaw-Howard University.

Some observers said the Washington region should have agreed jointly on a single site and offered it. A unified pitch would be stronger, and everybody in the area benefits no matter who gets the prize.

The Metropolitan Washington Council of Governments studied the possibility of a joint regional proposal in September, but the area jurisdictions quickly decided to go their own ways.

One obstacle: The District, Virginia and Maryland would have found it difficult, if not impossible, to offer subsidies for a project to be built outside their jurisdictions.

Amazon’s inclusion of three locations in the Washington area fueled speculation that the company has the region at the top of its list and wants to pit the three sites against each other in offering financial breaks.

“This is a textbook example of how to wrangle incentives,” Florida said.

There were signs that the region’s governments were prepared to succumb to the temptation. Maryland Gov. Larry Hogan (R) disclosed Thursday that Maryland’s inducements to lure Amazon totaled more than $5 billion. The offer, which Hogan was to describe in detail on Monday, includes tax incentives and transportation improvements.

Internet Entrepreneurship in China

Internet entrepreneurship: Social capital, human capital, and performance of Internet ventures in China

This article examines the interaction effects of social capital and human capital (experience) of entrepreneurs on the performance of Internet ventures. The empirical data are composed of the longitudinal surveys of 94 Internet ventures in Beijing, China. The study found that the interaction of social capital and Western experience of entrepreneurs has a positive effect on the survival likelihood of Internet firms whereas the interaction of social capital and startup experience of entrepreneurs has a negative effect on firm performance

https://ac.els-cdn.com/S0048733307000686/1-s2.0-S0048733307000686-main.pdf?_tid=27f93278-ffb9-11e7-8a74-00000aab0f26&acdnat=1516655816_97b877d3bd9c4b5fec4cb8a6f7e61ae6

Target Store & Pregnancy

https://hbr.org/2018/01/ads-that-dont-overstep

http://www.nytimes.com/2012/02/19/magazine/shopping-habits.html

https://pubsonline.informs.org/doi/pdf/10.1287/mnsc.1100.1246

Monday, January 15, 2018

Biggest Employer by State




http://www.visualcapitalist.com/walmart-nation-mapping-largest-employers-u-s/

Walmart Nation

Thursday, January 11, 2018

Aswath Damodaran

The Corporate Finance Guru

https://economictimes.indiatimes.com/markets/stocks/news/valuation-guru-damodaran-says-hes-no-aswath-for-him-3-most-freeing-words-are-i-was-wrong/articleshow/59334153.cms

Damodaran today influences many. But I asked him who has been the biggest influence in his life. His simple reply: “I have learnt from watching my four children grow up and realise how little at the margin that I can do to change the way they think about the world. If I have the ability to influence many, it cannot be because I have profound things to say, but perhaps because I can explain complex concepts simply. I wish I could claim credit for this, but it was a gift I was given and I hope that I have used it well."

Thursday, January 4, 2018

plants

https://www.facebook.com/theorganicplanner/videos/1463875503696226/?pnref=lhc.unseen