Jordan Skole

• Founder @ Auto Rivalry
• Campus Director (The Iron Yard)
• Brandery & Boomtown Alumni (Benchmark Intelligence)
• Growth Engineer (Ambassador)
• Wine Geek (Not snob, big difference)

Auto Rivalry

A completely biased comparison engine for automotive landing pages.

The Iron Yard

The largest code school in the country.

Benchmark Intelligence

Software analytics for restaurant chains.

So they can easily understand why certain locations make more money than others.

Ambassador

Easily track and manage referrals. (Like uber's refer a friend)

Objectives

What is Econ?

Raise your hands if you have taken Micro 101

The allocation of scarce resources to satisfy unlimited wants.

Resources (capital/inputs)

Spends

• Financial Capital
• Human Capital
• Physical Capital
• Social Capital
• ...and also time

Invest capital, to generate returns

Gains

• Financial Capital --> Interest
• Human Capital --> Wages
• Physical Capital --> Rent
• Social Capital --> Decrease costs
• ...and also time

My goal is to accumulate wealth

• Cash
• Real Estate
• Human Capital
• Equity
• ...and also time.
• Most importantly time.

Let's also talk about opportunity cost for a second.

Lets talk about startups

Identify a demand (this is just a problem a market will pay for).

Create a product that solves this problem. (creates value)

"Create a product", is misleading. You never stop.

You need hard skills.

• Domain knowledge
• Product development/engineering*
• Product management

Haven't we learned about skills before?

Domain knowledge is just experience.

Product development/engineering either costs money or makes money. Your choice.

Product management is the allocation of scarce resources to satisfy unlimited wants.

Story time! (benchmark paper story)

I didnt say ideas.

How many people have either complained, or heard somebody complain in the past week?

github.com/jordanskole/IoT

Story time! (The fireman's question)

I didnt say money.

Real estate is 10%

The chef doesnt celebrate a trip home from the grocery.

Think Dan Gilbert can make money?

One gotcha. Consumer products need money.

What the hell happens at a fish farm!?

Everybody has domain knowledge of being a consumer.

(Also what kind of consumer? College student? Moms? Hardware developers?)