Entrepreneurs: Leading the Way Out

Leading the Way Out

An Op/Ed By Greg Pesci

Entrepreneurs, free to pursue their economic dreams, built America! They are, and always have been, its creators of jobs, growth, and wealth.

In 1831, Alexis de Tocqueville wrote in Democracy in America:

"It may be said that, in the United States, there is no limit to the inventiveness of man to discover the ways of increasing wealth and to satisfy the public’s needs." He continued, "the primary reason for [America’s] rapid progress, their strength and greatness is their bold approach to industrial undertakings." What impressed De Tocqueville most about business in America was "not so much the marvelous grandeur of some undertaking as the innumerable multitude of small ones."

Data from the Census Bureau (Business Dynamics Statistics) demonstrate that since 1977 American entrepreneurs in firms less than five years old have been responsible for literally all the net job creation in this country. For more than 30 years, new companies have led job creation in America. Recently, Carl J. Schramm of the Kauffman Foundation stated, "new and young companies and the entrepreneurs that create them are the engines of job creation and eventual recovery." With 9.8 percent unemployment, if we want to create jobs in America we need to free up entrepreneurs and not burden them with increased taxes or regulation.

Especially encouraging during these hard times is evidence that past recessions have not prevented entrepreneurs from founding companies and creating jobs. Since 1977, America has averaged roughly 600,000 new firms formed each year. Through good times and bad, that number has remained fairly constant. Even more encouraging for today’s entrepreneurs is the fact that half of today’s Fortune 500 companies were founded in a recession or bear market.

In the 1970s, conventional wisdom said that America’s time as a vibrant, innovative economy had passed. We experienced Vietnam, Watergate, high interest rates, high unemployment, and double-digit inflation. We were told ours was a future of scarcity and sacrifice, and that what we really needed was increased government control and higher taxes (sound familiar?). President Carter presided over a period of general "malaise."

Yet, in the midst of this "malaise," a different future was being created. Entrepreneurs in the private sector were busy founding new companies and innovating. These entrepreneurs had the faith and guts to take action and pursue their dreams. Their innovations were a powerful force for leading America out of the malaise and into economic growth. Maybe you have heard of a few of the companies founded during this period when supposedly America’s best days had passed: Apple; FedEx; Microsoft; and Southwest Airlines. The efforts of these entrepreneurs have stood the test of time. All four of these companies were listed on Fortune’s 2009 List of the 10 Most Admired Companies in the world.

The efforts of today’s entrepreneurs hold the same promise for America’s future. They are not looking to the government to create jobs or waiting for others to do so. They are out there, by the hundreds of thousands, creating jobs for themselves and others. These Americans are generating the innovations that will refresh and renew our economy. A future "Google" is being created right now.

Following are just two of the reasons I believe this to be true. First, entrepreneurship is not just for the young. This is an important fact for an aging America. A Kauffman Foundation report states that the average age of U.S.-born tech company founders is 39 years old. More than twice as many founders were older than fifty than were younger than twenty-five. Between 1996 and 2008, more people between the ages of fifty-five and sixty-four started businesses than did people between the ages of twenty and thirty-four. These "seasoned" entrepreneurs bring considerable life experience and wisdom to the tasks of innovating and starting new businesses that create jobs.

Second, despite the sometimes politically charged discussions surrounding it today, history demonstrates that immigration has fostered entrepreneurship in America. If we can settle on a reasonable and enforceable immigration policy, it can continue to do so into the future. Many of the world’s best and brightest still want to come here and we should welcome them. Immigrants are much more likely to work as entrepreneurs, creating small businesses and associated jobs. In every census from 1880 to 1990, immigrants were more likely to be self-employed than natives. And they are starting a disproportionate number of high tech, science-driven companies. A recent study from Duke and UC Berkeley found that 52% of engineering and technology startup companies founded from 1995 to 2005 in Silicon Valley had one or more immigrants as a key founder. These new immigrants remind us of what is so great about this country, and why our ancestors came here.

Perhaps President Reagan best described how entrepreneurs can lead this country to a better day:

Entrepreneurs have always been leaders in America. They led the rebellion against excessive taxation and regulation. They and their offspring pushed back the frontier, transforming the wilderness into a land of plenty. Their knowledge and contributions have sustained us in wartime, [and] brought us out of recessions... Governments reduce deficits by controlling spending and stimulating new wealth, wealth from investments of brave people with hope for the future, trust in their fellow man, and faith in God.

Entrepreneurs will lead the way out. Bring on the entrepreneurs!

Earlier this year, Coca-Cola became the poster child for how a corporation could shove leftist ideologies onto its consumers. The company suspended advertising on Facebook in a push to censor former President Donald Trump, published a manifesto about racial equity, and demanded all legal teams working for Coke meet certain diversity quotas.

But now, after Trump, Sen. Ted Cruz (R-Tx.), Sen. Rand Paul (R-Ky.), and many other conservative voices called for a boycott of the company's products, Coca-Cola appears to be shifting directions.

The Washington Examiner reported that the company issued a conciliatory statement after conspicuously failing to appear on a published list of hundreds of corporations and individuals that signed a statement denouncing the Georgia voting bill.

"We believe the best way to make progress now is for everyone to come together and listen respectfully, share concerns, and collaborate on a path forward. We remained open and productive conversations with advocacy groups and lawmakers who may have differing views," the company said. "It's time to find common ground. In the end, we all want the same thing – free and fair elections, the cornerstone of our democracy."

Then last week, Coca-Cola Co.'s new general counsel, Monica Howard Douglas, told members of the company's global legal team that the diversity initiative announced by her predecessor, Bradley Gayton, is "taking a pause for now." Gayton resigned unexpectedly from the position on April 21, after only eight months on the job, to serve as a strategic consultant to Chairman and CEO James Quincey.

"Why is Coca-Cola 'taking a pause' on all of these? Because you have been standing up," Glenn Beck said on the radio program Monday. "You and others have been standing up. Your voice, it's the power of one. Your voice makes a difference."

Watch the video below to hear more form Glenn:

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This week on "The Glenn Beck Podcast," civil rights activist and Woodson Center founder Bob Woodson joined Glenn to call out the leftists in the "race grievance industry," like the Rev. Al Sharpton and Black Lives Matter, Inc., who, he says, are "profiting off the misery of their people."

Woodson lived through the appalling segregation laws of the last century and has a much different message about what it means to be "oppressed" than the so-called "anti-racist" activists today.

Woodson said he believes the real struggle for impoverished minority communities "is not racial." He argued that leftists "at the top" derive "moral authority" by claiming to represent "so called marginalized groups," while they prosper at the expense of those "at the bottom."

"There's nothing worse than self-flagellating guilty white people and rich, angry black people who profit off the misery of their people," Woodson said.

"I call what Sharpton and some of those are doing is worse than bigotry. It's treason. It's moral treason against their own people," he added. "The only time you hear from them is when a white police officer kills a black person, which happens maybe 20 or 21 times a year, but 6,000 blacks are killed each year by other blacks. So, in other words, their message is black lives only matter when taken by someone white, which means you are betraying the black community when you turn your back on 20 children that are slaughtered and you don't march in that community and demand that those killers be turned over to the police."

'The problem is not racial," Woodson asserted. "The problem is the challenge of upward mobility. Any time you generalize about a group of people, blacks, whites, Native American, and then you try to apply remedies, it always benefits those at the top at the expense of those at the bottom. ... It's a bait and switch game where you're using the demographics of the worst of these, to get resources that helps the best of these, or those who are prospering at the top. So, if I was the president, I would say an end to the race grievance business, that America should concentrate on the moral and spiritual free fall that is consuming people at the bottom."

Watch the video clip below to catch more of the conversation, or enjoy the full podcast here or wherever you listen to podcasts:

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

Following President Joe Biden's first joint address to Congress, Glenn Beck joined fellow BlazeTV host and author of the new book, "American Marxism," Mark Levin to expose what they called the "Liar-In-Chief's" radical plans for our country and to explain why the far Left's proposals and programs are really a "frontal attack" on our Constitution, our country, and our way of life.

"Substantively, this is a frontal attack on our Constitutional system of limited government. It is a frontal attack on our capitalist system. He's basically throwing out all the bromides for the radical left groups that now form the base of the modern Democrat Party. And I make the case that ... this is Marxist bullcrap in its broadest sense," Levin stated.

"Here we are, a country now where one man can get up in the middle of the night and make a list of everything he wants to do to the country," he added, speaking figuratively. "It's like an unreality where we're living in separate worlds ... the whole thing is a fraud."

Watch the video clip below to hear Levin expose the lies and misinformation in Biden's speech and explain why he believes the true message is absolutely chilling for the future of our nation:

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After months of delays and COVID-19 excuses, President Biden finally delivers his address to the joint session of Congress. It is a truly historic moment, as only a few hundred members of Congress received an invite. While some have compared this speech to JFK's moon landing challenge, it will likely be more like FDR's New Deal nightmare. Will Speaker Pelosi continue her tradition of ripping up the president's speech? Will VP Harris cackle to a quiet audience?

Glenn Beck teams up with fellow BlazeTV host Mark Levin, author of the new book "American Marxism," to take on the progressive plans that could completely transform our economy and our way of life. Steve Deace, BlazeTV host and author of "Faucian Bargain," joins to discuss why it's not enough for conservatives to just lament the dangerous Democrat agenda; we must activate against the woke infection of our institutions. Plus, a power panel to rival CNN talking heads: Stu Burguiere, BlazeTV host of "Stu Does America," and Jason Buttrill, head researcher and writer for Glenn Beck.

Watch the video below:

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