4.7 • 2K Ratings
🗓️ 1 January 2021
⏱️ 79 minutes
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0:00.0 | One thing I will say is business schools entrepreneurs, everybody loves to talk about how to build a business and no one will teach you how to shut one down the right way and it's just as critical skill. |
0:08.5 | There's not like a group of folks like, oh, you're shutting one down. You know, I've shut four down. Let me tell you how this goes. Like nobody wants to be that guy. |
0:20.0 | Everybody in the industry wanted to see us succeed because we were taking risks. They literally couldn't. |
0:26.0 | Well, we can go down this rabbit hole, but it's not going to help entrepreneurs. This is an aviation unique thing. I think it will help entrepreneurs. |
0:35.0 | And he was literally on the phone call that helped close my series of finance. That would be like McDonald's raising Wendy's their money. |
0:42.0 | He looks at me and goes, I think you're an idiot. I don't know if you know, but airlines never make money. |
0:47.0 | On your deathbed, you'll never regret doing it. You'll only regret not doing it. Just say, I wish I would have. You won't say I wish I hadn't. |
0:57.0 | So my name is Wade I early. I'm 39 years old. I live in New Canaan, Connecticut. My office today is in Stanford, Connecticut, just on the water here in the harbor. |
1:06.0 | In Stanford, Connecticut, I mean, we were just talking about on the preview. You kind of in the middle of a lot of things it sounds like. |
1:11.0 | Yeah, so New Canaan where I live, Stanford's 20 minutes away. It's a little town of 20,000 people were 20 minutes from the beach and 20 minutes from the mountains, 45 minutes to Yale 45 minutes to Manhattan. |
1:22.0 | And really within two hours, we've got all the way up from Newport, Rhode Island, which is the world capital of sailing all the way down to Philadelphia, Pennsylvania. You'd be hard pressed to find something you want to do that we can't get access to within a day trip, which is kind of what I was describing. I do with my boys on Saturdays. |
1:37.0 | Since we have a worldwide audience, it's basically just a little bit northeast of New York, New York, if they're visualizing in their head. |
1:42.0 | Why don't you tell us about what you do right now, because I know we have a broad spectrum of things we want to hit on them. You have a checkered pass as far as like entrepreneurship stuff. |
1:50.0 | So we want to hit on all of it. But why don't you tell us about what you're focused on right now, and then we'll rewind it to the beginning. |
1:55.0 | So right now I'm running a company called the Education Insurance Corporation. We are creating a new type of insurance. We're currently working with regulators to be approved to sell. |
2:05.0 | So right now we don't have a product of market, but what we are doing is looking to ensure your college degree. |
2:10.0 | So most people go to college, not because they have a lofty Victorian era design to be a better human being and be well rounded in general. |
2:18.0 | But in fact, they do it because they're looking to make more money when they graduate. That makes the way the US finances education, particularly troubling because it's so expensive and so heavily that financed. |
2:30.0 | It is the largest uninsured investment market in the world if you were to define it as an investment market. So we think good opportunity there. |
2:37.0 | So we're creating a product that would tell students we guarantee you'll make X amount more when you graduate college by virtue of having this degree and go to college. |
2:45.0 | And then for five years, they send us their sort of tax returns. And if they don't out earn our coverage, we'll pay them the difference. |
2:50.0 | Kind of makes sense. We're saying there, but can you just give us a basic rate like example of salary and the coverage on something like this. |
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