Entrepreneurship

Discussion and Analysis:1. What is an entrepreneur? What do entrepreneurs do and why do they do it?2. Why are so many inventions developed in the United States?3. What does the term “business-friendly state” mean? Why might entrepreneurs want to pick business-friendlystates to start their businesses?4. How could government regulations make it more difficult for businesses to open and succeed?5. Some government regulations might lead to the unintended consequences of fewer businesses opening.Are there any times when those might be intended or intentional consequences? If so, whywould the government want to limit new businesses?6. Based on the video and on your own knowledge, who are some successful entrepreneurs who metwith failure early in their careers?7. Why would venture capitalists step in and loan money to a startup business when banks have decidedthat loaning money to that startup business is too risky?8. Is being in business respectable in America? Why / Why not? Does it depend on the business? Whatbusinesses might not be respectable? Why are they successful?9. Why would France regulate their successful wine business, by allowing government to decide whichgrapes can be grown, how they can be pruned, when they can be irrigated, and when the grapescan be picked? Why does government regulate? Do government officials think they can knowbetter than producers and consumers? Do they know better? Why / Why not? Do you think thisregulation could account for sales of French wines to drop while sales of American wines haveincreased?10. How are jobs created? Is there a connection between businesses starting up and the number of jobsavailable? Is there a connection between businesses failing and the number of jobs? Should thegovernment try to keep businesses from going broke? If so, how? Does bailing out losing companieshelp the economy or just make it tougher for successful companies to compete?11. How does society benefit from entrepreneurship?Discuss These Lines from the Video:1. But compared to all the other countries in the history of the world, America is rich.2. America is a society built on entrepreneurship.3. The right that is emphasized in the original Constitution is not free speech and it’s not the right topractice your religion, it’s the right to have patents and copyrights. And I think that helps explainwhy so many inventions come out of America.4. I found in England if there’s 10 reasons you could do something, there’s 20 reasons why you couldn’tdo it, you shouldn’t do it.5. I picked Delaware because we were told Delaware and Nevada have more business friendly laws.6. The fastest growing parts of the world, like Hong Kong, make entrepreneurship easy.7. In France, which built the wine business, government now decides which grapes can be grown, howyou may prune them, when you may irrigate, when you can pick grapes.8. Thomas Edison had more than 1,000 patents. We know about his successes like the light bulb, butfew people know that Edison failed much more often. He was fired by the telegraph office, and helost money on a cement company, and an iron business.9. There’s something in the American temperament that says you know, “Gosh, I lost seven times butthat’s okay.” And I think that that’s a resiliency of the American spirit.43