Thursday, January 24, 2019

6A - Identifying Opportunities in Economic and Regulatory Trends

Opportunity 1 - Economic

(a) China begins to slow down its production and begins cooling. The world however, needs its energy to drive world economic growth.
    Source: https://www.nytimes.com/2019/01/20/business/china-economy-growth-davos.html

(b) I believe with this information that an opportunity exists because there is factual evidence that China is slowing down and for the past three months, its economic growth has been the slowest that it has ever been. China is a huge world economy, and most of the world relies on China, and therefore, its slow economic growth impacts the rest of the world.

(c) The pro typical customer for this situation would be workers and companies globally. Not only is China suffering, but also the American economy, as well as many European economies, are beginning to dim, as suggested by the article. People need to find a way to increase economic growth. Also, investors are also starting to cut back in Europe.

(d) I believe that this opportunity would be pretty difficult to exploit due to the nature of the issue. This is a global concern, and there are many potential solutions, but also there are many different factors that contribute to this problem.

I saw the opportunity because... I am very interested in looking at the world economy. I am also currently studying macroeconomics, so it is interesting to apply what I am learning to the real world. We are in a period in which the global economy is highly influential and in which trade is at its highest. Each country relies on global trade to have a successful economy.

Opportunity 2 - Economic

(a) People that have lower income end up paying higher effective tax rates
    Source: https://www.usnews.com/news/best-states/articles/2018-10-17/residents-with-lower-incomes-pay-a-higher-effective-tax-rate-study

(b) This information suggests to me that an opportunity might exists because people who are earning less money are being taxed more. This is obviously a problem, and the situation should be reversed. The burden should not fall on the lap of those who are earning a low income, and those with a higher income can afford to pay more money to help with taxes.

(c) The pro typical customer would be a person who is earning a lower income. They are the ones who are facing the problem after all. These people exist all over the country in many different places.

(d) This opportunity would be difficult to exploit because taxation is such a huge aspect of government funding. They will not be willing to cut down on tax rates if it will have a large negative impact on government funding. There will also most likely be opposition from the other side because some people will be having to pay higher taxes.

I saw the opportunity because... I have done a lot of research on taxation. The government also relies heavily on taxation. In my county back home, there recently was a law that was put into place that effectively raised the sales tax to 8.5%, so I personally have seen the effects that increased tax rates have on my daily life.

Opportunity 3 - Regulatory

(a) Hospitals now have to post their prices online in Florida
    Source: http://www.fox5dc.com/health/hospitals-will-have-to-post-prices-online-starting-january-1

(b) I think that this opportunity exists because this law was already passed in Florida recently. Hospitals now have to post their prices online so that patients can actually see what they are paying for and not be surprised when they get a random expensive bill. This is something that is applicable to a wide range of people.

(c) The pro typical customer would be anybody who wants to see the prices of going to the hospital to under go a treatment or just for a clinical checkup.

(d) This will be relatively easy to exploit due to the fact that it is a service that many people need. A lot of the people end up going to see the doctor for checkups or when they get sick.

I saw the opportunity because... A few years ago my brother broke his arm which got him landed in the hospital. I still remember that he had to go in to get a sling for his arm, and we did not know how much were paying for it until we were slammed with a huge hospital bill after the fact.

Opportunity 4 - Regulatory

(a) Florida is increasing its minimum wage from $8.25 an hour to $8.46 an hour
    Source: https://www.nbcmiami.com/news/local/Florida-to-See-Biggest-Minimum-Wage-Increase-Since-2012-503563881.html

(b) I think that this opportunity exists because it is a law that has already been passed. Minimum wage rates are now higher which will lead people to begin working if they already are not. This can be beneficial in reducing unemployment rates in Florida.

(c) The pro typical customer would be anybody who is unemployed or currently looking for a job. This will persuade people to get a job since the minimum they can be paid is now at a greater level.

(d) This will be easy to exploit because everybody in America relies on a source of income to survive. Also, college students are always looking for jobs and usually rely on minimum wage as a source of income.

I saw the opportunity because... I am currently a college student and most of the jobs that are open for me to take are on the level of minimum wage. This is applicable to me because getting a minimum wage job would mean that I am now making more money.

5A - Identifying Local Opportunities

Article 1

Title: 
Developer of Proposed Bezu / Blue Lotus Tower Sues City of Saint Petersburg

Link: https://www.tampabay.com/business/developer-of-proposed-bezublue-lotus-tower-sue-city-of-st-petersburg-20190124/

Summary: Developers of the Bezu / Blue Lotus Tower are suing the city of Saint Petersburg to overturn a vote to cancel the tower. The developers are claiming that the tower fits in with the regulations, but the opponents are saying that the tower does not fit in with the other buildings in the area and stands out too much.

Problem: The problem is that there is an argument with the local government and this company. The company relies on the tower to make money and if the government shuts the tower down, then they could lose a lot of potential money.

Who Has the Problem: Driven Ziggy LLC, the developers of the tower, have a major problem because their tower is trying to get shut down. Therefore, they are filing a law suit to try and get the vote that will nix their construction reversed.

Article 2

Title:
Tampa Electric's Big Bend changes face increased opposition

Link: https://www.tampabay.com/business/tampa-electrics-big-bend-changes-face-increased-opposition-20190124/

Summary: Tampa Electric plans to convert one of its facilities into a power station that uses natural gas instead of one that is powered by coal. This decision is being faced by a lot of opposition from both the people and environmental groups, criticizing that the corporation is going backwards and using fossil fuels which could have negative impacts of both the health of people and the environment. On March 11, there will be a hearing to determine whether this will be allowed.

Problem: The problem is that this change is being faced with a lot of opposition. There are a lot of people and environmental groups that are concerned, but there also many people who believe that this will be a good thing.

Who Has the Problem: There are two groups in this story that are being faced with a problem. First of all, the company, Tampa Electric, is facing a problem because there are groups that are trying to shut them down. The people outside of this corporation also have a problem because they believe that this change will have a lot of negative impacts on public health and safety as well as the environment.

Article 3

Title:
Hulu Raises Price for live-TV service, cuts basic package price

Link: https://www.tampabay.com/business/hulu-raises-price-for-live-tv-service-cuts-basic-package-price-20190124/

Summary: This article discusses how Hulu, a popular video streaming service will be raising its prices on TV streaming such as ESPN, CNN, etc. They are raising their prices from 13 to 18 percent trying to make the service more profitable, while cutting down on their basic package price by $2.

Problem: The problem is that this service is becoming more expensive. The same service is now being offered at a higher price, which means that consumers will have to pay more for the same service.

Who Has the Problem: The consumers have the problem according to this article because they now have to pay more.

Article 4

Title: 
All for Transportation asks court to dismiss lawsuit against Hillsborough sales tax

Link: https://www.tampabay.com/hillsborough/all-for-transportation-asks-court-to-dismiss-lawsuit-against-hillsborough-sales-tax-20190124/

Summary: Stacy White, a Hillsborough County commissioner has filed a lawsuit against a political committee challenging their one-cent transportation sales tax. A group known as "All for Transportation" is asking that this lawsuit is dismissed, claiming that White violated state law by using  his position to file the lawsuit.

Problem: The problem is that there is a disagreement on the sales tax being placed on transportation. A law suit has been claimed and now these two groups are arguing.

Who Has the Problem: The "All for Transportation" group has the problem because a lawsuit has been filed on them, which they are trying to levy by appeal.

Article 5

Title:
Peaceful Paths, shelters say shutdown bodes trouble

Link: https://www.gainesville.com/news/20190123/peaceful-paths-shelters-say-shutdown-bodes-trouble

Summary: Peaceful Paths is a shelter that was established to help victims of domestic abuse. Because of the government shutdown, many of the people who use this service will be left without it because the director states that they do not have the budget. They are currently losing $60,000 to $90,000 a month. They still are keeping the shelter open for anybody who needs it, but they are remaining conservative with their resources until the government shutdown ends.

Problem: The problem is that the government shutdown has led to decreased funding for the Peaceful Paths organization. They are no longer able to provide services that they usually would to their maximum capacity.

Who Has the Problem: The Peaceful Paths shelter for domestic abuse has the problem because they do not have the funding that they require at the current time.

Friday, January 18, 2019

4A - Forming an Opportunity Belief

Assignment 4A - Forming an Opportunity Belief

1) I do have an opportunity belief, being that college students either do not know how to study efficiently or they often procrastinate when it comes to studying for exams, leading them to do poorly. This can also be because of the overwhelming schedule that students have, when it comes to doing extracurricular activities, holding a job, engaging in a social events, or maintaining a healthy lifestyle. This is an issue that I have been dealing with myself, and coping with extraneous amounts of stress can be difficult. This leads people to study very little for exams or not study at all, however, procrastination in all areas seems to be a common theme for many college students. People need to have a better, more organized way to study for their exams so that they can do well. I am very sure (99.99999%) that this opportunity exists.

Interview 1: A college freshman who is in their second semester at UF.

Question: How many days before an exam would you say that you start studying?
Answer: "I tend to study a few days before an exam, typically 2 - 3 days".

Question: What is your major that you are undertaking currently?
Answer: "Currently, I am a computer science major."

Question: How many hours a day do you dedicate to doing work outside of lecture?
Answer: "I try to spend at least 1 - 2 hours a day studying, depending on my homework load".

Question: Are you aware of any websites that help you with studying?
Answer: "Yes, I have heard about Study Edge and there are some helpful YouTube videos that I use to help me with studying".

Question: Would you classify yourself as a procrastinator?
Answer: "I don't think so - depending on what you mean by that really. I don't like to leave things last minute because it can be highly stressful".

Question: Do you participate in any other outside extracurricular activities?
Answer: "I am in a few clubs and I enjoy playing basketball when I get the chance".

Question: Do you have a job?
Answer: "No, not currently."

Question: Do you think it would be beneficial if there existed a website that allowed you to both manage your time especially when it came to the days leading up to an important exam?
Answer: "Of course, that would be incredibly helpful."

Reflection 1: After interviewing a freshman who is still particularly new to how the college experience is, I have realized that there is a need for a method of making studying more efficient. College students place a lot of importance on exams in particular because they make up such a large portion of grades, and it can be extremely harmful to procrastinate and do poorly. Just messing up on one exam can drastically change the outcome of your grade.

Interview 2: A junior in college who is studying chemical engineering.

Question: How many days before an exam would you say that you start studying?
Answer: "About a week or two, depending on how comfortable I am with the content."

Question: What is your major that you are undertaking currently?
Answer: "Chemical engineering"

Question: How many hours a day do you dedicate to doing work outside of lecture?
Answer: "I would say about 3 hours a day including any homework assignments. If I am just studying, then maybe a couple extra hours."

Question: Are you aware of any websites that help you with studying?
Answer: "Oh yeah plenty...I use Chegg for homework, Study Edge, Smoking Notes, YouTube, and much more."

Question: Would you classify yourself as a procrastinator?
Answer: "Yes, but I can manage with my workload."

Question: Do you participate in any other outside extracurricular activities?
Answer: "I play Tennis on the weekends and I also love to play guitar."

Question: Do you have a job?
Answer: "Yes, I am a tutor on Chegg."

Question: Do you think it would be beneficial if there existed a website that allowed you to both manage your time especially when it came to the days leading up to an important exam?
Answer: "Yeah, a time management app, or a way that would allow me to organize a study schedule would be highly beneficial for me."

Reflection 2: After interviewing this student, I found that they studied a bit more than the freshman student. This goes to show just how important exams are and how the content gets much more difficult as you progress through college. This student was more concerned on a way to manage time, and it also allowed me to realize just how much competition there already is when it comes to apps or websites used for studying.

Interview 3: A graduate student who is currently undertaking classes to get their MBA.

Question: How many days before an exam would you say that you start studying?
Answer: "For major exams, I usually start studying right away as soon as we begin. About a week before, I will look back and review things that I had particular trouble understanding the first time around."

Question: What is your major that you are undertaking currently?
Answer: "I am in the graduate program trying to get my MBA."

Question: How many hours a day do you dedicate to doing work outside of lecture?
Answer: "About 4 - 5 hours on days that I don't have work. If I do, then 2 or 3."

Question: Are you aware of any websites that help you with studying?
Answer: "Oh yea plenty. Quizlet, Chegg, Study Edge - that was life saver - and I utilize YouTube a lot as well."

Question: Would you classify yourself as a procrastinator?
Answer: "No, definitely not. That's way to stressful for me."

Question: Do you participate in any other outside extracurricular activities?
Answer: "I do, I love making music, playing guitar, playing golf, watching Netflix - if you consider that an extracurricular activity."

Question: Do you have a job?
Answer: "Yes."

Question: Do you think it would be beneficial if there existed a website that allowed you to both manage your time especially when it came to the days leading up to an important exam?
Answer: "Oh for sure. Time management was something that I struggled a lot with especially when I was an undergraduate student. I remember that I had really bad study habits and actually almost failed my first round of exams freshman year just because I neglected to study."

Reflection 3: This student too sees the importance of an app that would allow her to manage her time more efficiently. However, like the chemical engineer, there already seems to be a plethora of website available that allow people to better understand certain school topics.

Summary: After conducting my interviews, I still have the opportunity belief that there is a need for an app or website that would better allow students to manage their time and their levels of stress. Exams are such an important aspect of college because they make up so much of your grade and often determine your level of success. However, after talking to potential customers, I have found that competition is very high for a website / app that would provide content to help people study, and that I should probably focus my attention solely on a method that would allow people to organize their workload and would allow them to officially student and manage their time properly that would be best suitable for their success. It is always important that an entrepreneur adapt their ideas based on what customers want because after all, you have to create something that people would actually want and could utilize.

2A - Bug List

Assignment 2A - Bug List

1. Phone battery does not last long enough, especially when doing things such as taking video or watching videos.
WHY it exists: This problem exists because the capacity of a battery is pretty small. When you have to fit a battery in a small phone, the capacity as a result will also be pretty small.
2. The Wi-fi sometimes cuts out randomly, and can be especially problematic when taking an online quiz or exam.
WHY it exists: The internet connection is not always reliable, and there can be many people on the same network that can drastically slow down internet. Because of this, the internet can sometimes cut out if the connection is overloaded or if you have a weak connection.
3. Coffee can sometimes get cold way too fast.
WHY it exists: When I am working at the library, I often like to drink my coffee over long periods of time and make it last. Coffee can get cold way too quickly especially if you have an open top and becomes undrinkable. Heat escapes quickly through open or paper cups.
4. Waiting at a red light even when there are no cars.
WHY it exists: Especially at periods of time with low traffic on the road, you sometimes find yourself waiting at a red light even when there are no vehicles around. This problem exists because the traffic lights are on a timer and stay on this timer to keep a consistency in the flow of traffic.
5. A lot of food is wasted especially at restaurants when it is unnecessary
WHY it exists: This problem exists primarily because restaurants are producing an excessive amount of food that is not always necessary. This is especially true because people have a wide range of preferences so restaurants need to make sure that they have enough food for everybody.
6. Mirrors in the bathroom are covered in steam especially after a shower
WHY it exists: This problem exists because the heat of the water from taking a shower creates steam that covers the mirror. This can make it difficult to use the mirror after taking a shower for a period of time.
7. Cell phones do not have enough memory space on them
WHY it exists: This problem exists because cell phones have a small size which can make storing memory on them difficult. This is especially true for someone who wants to download movies or TV shows on their phone or take lots of videos / photos.
8. Toilet seats can be unsanitary and dirty - covered with urine :(
WHY it exists: This problem exists because it is a public restroom and many people use them. Sometimes, people just neglect to lift the toilet seat when the use the bathroom and have terrible aim, leaving their mess behind.
9. Sleeping through your alarm and missing class / late to work
WHY it exists: This problem exists because the alarm clock usually resides on the bedside table. Especially if you are sleeping, it can be easy to mindlessly hit the snooze button or turn it off and fall back asleep, missing class or being late for work.
10. Leaving keys behind in room or leaving behind wallet
WHY it exists: These objects are small and can be easy to forget. Sometimes, people leave the house with bags / laptop or many other items that it can be quite easy to leave behind something that you really need.
11. Library West being extremely packed on not being able to find a computer to work at
WHY it exists: This problem is most persistent, especially the week of final exams. There are many people that come to the library and crowd it, making it extremely difficult to find a place to sit down and study for an extremely important exam or cupcake.
12. Poor phone service in certain areas (persistent at Library West)
WHY it exists: There are different phone providers that are in competition with each other, and some providers only cover certain areas. This can be extremely annoying when you need to make an important phone call, but you have no service and must go somewhere else.
13. Having to take classes that are unrelated to your major
WHY it exists: This problem exists mainly for undergraduate students. We are sometimes required to take classes that have nothing to do with our major or what you are interested in / passionate about just to fulfill some gen-ed requirements.
14. Getting handed unnecessary change in coins when making a purchase
WHY it exists: After including tax, most of purchases at stores do not equal an exact dollar amount. Because of this, when paying with cash, it can be very annoying to be handed a lot of clunky change in coins that take up a lot of space or make your pockets uncomfortable.
15. People can chew popcorn very loud during a movie
WHY it exists: This problem persists mainly because popcorn is a very crunchy snack that is common to consume when watching a movie in the theaters. It can be extremely annoying when the person next to you is obnoxiously eating popcorn right next to your ear making it hard to pay attention to the movie that you paid to see.
16. Not enough outlets in the dorms / apartment
WHY it exists: Outlets can be sparse or put in weird places. This problem exists because everyone wants to design their room in their own way. When the construction workers install the outlets, they have no knowledge of where the person who will live in the space wants there outlets placed.
17. Power outage when working on a research paper
WHY it exists: Power supplied to the computer is not always reliable when working on a research paper. The writer has to manually save their paper when working on an assignment, and if they don't, then they can lose potentially hours of work.
18. Netflix does not have some shows / movies that you want to watch
WHY it exists: This problem exists because video streaming services are in competition with each other and therefore cannot have every single video / movie / TV show provided with their service.
19. Traffic jams and rush hour can make your trip a lot longer after or before work
WHY it exists: This problem exists because everyone goes to work / comes home from work around the same time. Because of this, the roads are cluttered with people trying to get to their destination.
20. Large bags of chips snacks are not reseal-able.
WHY it exists: This problem exists because bags of chips are often sold in larger than normally one should eat in one sitting amounts. The bags are not reseal-able and therefore can be a nuisance for somebody who just wants to eat a few chips in one sitting just for a snack.

Reflection: This assignment was only difficult to the extent that it made me think a completely different way. Usually, when I think about a problem, it is relating to how much work I have to get done, whether its school work or other projects I am working on. However, working on this assignment put me in an entrepreneur state of mind. I had a lot of fun working on this assignment because once I got the ball rolling, it got easier to come up with "bugs". It was quite surprising to see just how many small problems that still exist in the 21st solution that still do not have a solution for them.

3A - Your Entrepreneurship Story

Assignment 3A - Your Entrepreneurship Story

My Entrepreneurship story goes back all the way to 8th grade. I remember that my English teacher was very enthusiastic about finding new ways to include technology in the classroom. Most of our projects that we had to complete incorporated us creating blogs, videos, or websites to find potential ways of coming up with solutions for world problems, such as climate change. I spent many hours conversing with my teacher after class about my excitement and potential opportunities that I could follow, and it was this year that fueled my enthusiasm for entrepreneurship and using technology. This was also around the same time that I began to learn how to program in Java and how to work with computers better.

Another aspect that gave me enthusiasm for entrepreneurship was the fact that both of my parents are successful entrepreneurs that own and manage their own online company. This was intriguing to me specifically because there was a period of time that I actually helped run their business and dealt a lot with website design and statistics and looking at price changes over a period of time. I think that having this inside experience was influential in gaining experience and just further got me excited for undergoing new opportunities.

The biggest accomplishment that I have achieved was during the Summer of 2017, the summer before college. Although it may seem silly at the time, there was a meme circulating the popular website on YouTube and was going viral. I still remember I was with my friend at this time, and I looked at him and half - jokingly said "I am going to make an app revolving around this meme". Immediately, I reached out to the creator of the meme asking for permission and made a simple yet humorous soundboard app. Although it was not physically demanding to create (it took me a single day), it is probably my biggest accomplishment when it comes getting my work noticed. In just a few short days, it had accumulated over 10,000 downloads from users on Android alone. After it finally began to die down, I had accumulated a total 65,300 total downloads. This experience showed me the importance of seizing and opportunity and working  hard. I still remember bumping into so many issues when trying to actually release the app, but persistence was definitely worth it.


The reason that I took this class mainly is because I am highly enthusiastic about becoming an entrepreneur. I honestly cannot see myself undertaking a typical, 9 - 5 job for my career, and it would be my dream to be a successful entrepreneur. I feel like personally, I have a lot of creative ideas, and this class will further develop my skills and introduce me to a way of seeing the world that will hopefully eventually allow me to live my dream life.