Archive for News

Pete Cashmore, CEO of Mashable

Pete founded Mashable in 2005 when he was 19 in Aberdeenshire, Scotland. Mashable is a popular online blog. It started as a simple blog with Pete as the sole author, and quickly rose to fame. In 2009, TIME Magazine considered it one of the best business and tech blogs. Now, it is worth around $50 million and it’s still going.

Mashable began as a blog, but now has sections of the site for different topics, with blogs/articles about all sorts of things; tech, science, entertainment, and more. It was truly innovative for its time because Pete made a blog specifically for certain things he was interested in, and he did it really well. It’s not normal news or articles. It’s different.

Pete showed his entrepreneurial spirit when he was developing Mashable– he would work for hours into the morning on his computer in the early stages of developing. His parents didn’t even know what he was up to. Now, his work has millions of visitors a month.

Vincent Charles Salon – run by an 11 year old

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Vince Weishaus is a 11-year-old hair stylist in Bloomfield Hills, Michigan. Vince has his own salon in his parent’s basement. He started doing hair when he was 2 years old with braiding his mother’s hair and playing with his sister’s dolls. His favorite hairstyle to do was braiding. He gave his first haircut to his grandmother at the age of 5 under the careful supervision and assistance of his Aunt.

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From there, Vince’s love for hair grew, so much so that his parents gave him his own salon for his 9th birthday. The supplies were donated from his old neighbor who moved to a different house. Vincent Charles Salon was open for appointments, all free of charge.

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His Instagram has only around 2500 follower, but highlights a smiley, happy young boy living out his dream. Vince Weishaus enjoys being a stylist because he enjoys making people feel happy. While Vince is still young, he wants to become a celebrity hair colorist. The sky is the limit when you work hard and do what you love and continue to work hard. Vince figured out that is you love your work, you won’t “work” a day in your life.

From Entrepreneur to Billionaire Mayor

Michael Bloomberg is one of the most respected men in the State of New York and in New York City. Bloomberg was born in 1942 in Boston, Massachusetts to Polish immigrants. His father was a bookkeeper and his mother was a secretary. Bloomberg put himself through Johns Hopkins university and from Harvard in 1966 with a Masters in Business Administration. Shortly after school Bloomberg found a job with the red hot investment banking firm Salomon Brothers and quickly rose to partner in 1972. After Salomon’s demise in 1981, Michael Bloomberg received a large partner buyout in excess of $10 million.

Michael Bloomberg decided to use his newfound wealth to start his own business, and in 1981 he formed Innovative Market Systems, which he would later rename to Bloomberg. The company originally sold computer terminals to Wall Street investment banks that would provide market news and stock data. The Bloomberg Terminal was a dual screen standalone, portable, and “open,” or PC-connectible software that provided premier multimedia news, electronic communications, specialized financial computation services, financial pricing, advanced data analytics, and data for all major global securities markets. Early on, Bloomberg did not have many customers, as the Bloomberg Terminal was seen as a futuristic and ambitious concept. Nevertheless Bloomberg was able to secure a sale of its new, (not yet completed terminal), from Merrill Lynch ONLY if Bloomberg could deliver the terminals to Merrill Lynch within 6 months.

Upon delivery of the Bloomberg Terminal, Merrill Lynch was so impressed that they ordered 20 units for their traders, and agreed to purchase a 30% stake in IMS for $30 million. With fresh funding, and the expertise of Merrill Lynch elite traders, Michael Bloomberg was able to develop and improve his terminal system to appeal to the broader market. In 1984, Bloomberg brought his Terminal to the world market, but faced over 20 different competitors who were supplying similar services to top Wall Street firms. However, what set Bloomberg Terminal apart from the competition and allowed for the company to capture the market was its ability to go beyond surface level data. For example, on the Terminal, a trader could access roughly 40 links to in-depth information on any bond, which were displayed around a central chart displaying the bond’s current price. The Terminal also provided in depth and colorful data analytics that was unrivaled by any other analytics firm.

In 1986, Michael Bloomberg officially changed the firm’s name to Bloomberg L.P. Soon after changing the name and receiving much success on Wall Street, the firm experienced explosive growth. Today Bloomberg L.P. has millions of Terminal subscribers including The White House, the Vatican, Bank of England, and virtually every large financial services company in the world. Bloomberg’s news service has over 150 bureaus 73 countries worldwide. The firm boasts revenues of $10+ Billion. Michael Bloomberg’s personal net-worth is estimated around $56+ Billion.

What I learned from researching Michael Bloomberg is that you can never be too old to start a business. Bloomberg was 39 when he started IMS, and has never stopped innovating. Bloomberg never stopped developing his terminal system, and I admire him for completely transforming the way people receive and perceive their news and market data. The Bloomberg Terminal at the time revolutionized the way traders received news and market data, and helped traders make better decisions for themselves and their clients. Bloomberg had the passion and drive to change the way Americans, and the world views news and data. Bloomberg news has a large influence today on millions of Americans, and continues to influence market data by providing second by second in depth information on market news combined with data analytics.

An ELITE Millenial Mentor

“Life is a journey, not a destination.” Although this saying arguably lands at the top of the “cliché list”, its meaning rings true for millennial entrepreneur Gerard Adams. Adams has accomplished many successful things during his time as an entrepreneur. His first big endeavor was co-founding millennial news platform EliteDaily, which was bought by Daily Mail in 2015 for $50M. Since then, he’s invested in, built and backed 9 seven-figure companies, established a mentorship non-profit organization, and developed his own online show: Leaders Create Leaders. While all of these things are remarkable, for Adams, the journey has been the most fulfilling part of his rise to success.

Adams claims that his purpose is to, “inspire other Millennials to leverage their passions to create the successful lifestyles they dream of.” It wasn’t without an abundance of passion, hustle, and failure that he was able to reach his goals. The unique thing about what Adams currently does is that through his various social channels, he takes the ups and downs of his own journey and mentors future entrepreneurs along theirs. It is this two-pronged approach to millennial entrepreneurship – success alongside mentorship – that is revolutionizing the way today’s most successful businesspeople are developing more leaders and expanding industries.

Gerard Adams is the perfect example of someone who cares not only about their own personal successes, but also about the growth and development of other entrepreneurs. His nickname, “the Millennial Mentor” is a fitting description for how he is trailblazing the entrepreneur’s attitude and journey.