Smart People Should Build Things by Andrew Yang

Last updated: Jul 28, 2023

Summary of Smart People Should Build Things by Andrew Yang

Smart People Should Build Things is a book written by Andrew Yang, an entrepreneur and the founder of Venture for America (VFA). The book explores the importance of entrepreneurship and the need for talented individuals to pursue careers in building businesses and creating jobs.

The central premise of the book is that many of the brightest and most talented individuals in society are often drawn to careers in finance, consulting, and law, rather than starting their own businesses or working for startups. Yang argues that this trend is detrimental to both individuals and society as a whole.

Yang begins by discussing his own experiences as a young entrepreneur and the challenges he faced in starting his own business. He then goes on to explain the mission of VFA, which is to encourage recent college graduates to work for startups in economically struggling cities across the United States.

Throughout the book, Yang provides numerous examples and case studies of successful entrepreneurs and the impact they have had on their communities. He emphasizes the importance of building businesses that create jobs and contribute to the local economy, rather than simply pursuing personal wealth or prestige.

Yang also delves into the reasons why many talented individuals are hesitant to pursue careers in entrepreneurship. He discusses the fear of failure, the allure of stable and high-paying jobs in traditional industries, and the lack of support and resources available to aspiring entrepreneurs.

In order to address these challenges, Yang proposes several solutions. He advocates for changes in the education system to better prepare students for careers in entrepreneurship, including more hands-on learning experiences and exposure to real-world business challenges. He also calls for increased support and funding for startups, as well as changes in government policies to incentivize entrepreneurship.

Overall, Smart People Should Build Things is a call to action for talented individuals to consider careers in entrepreneurship and to use their skills and abilities to create businesses that have a positive impact on society. Yang argues that by doing so, individuals can find fulfillment and success while also contributing to the economic growth and development of their communities.

1. The importance of entrepreneurship

In "Smart People Should Build Things," Andrew Yang emphasizes the significance of entrepreneurship in driving economic growth and creating job opportunities. He argues that instead of pursuing traditional career paths, smart and talented individuals should consider starting their own businesses. By doing so, they can not only create value for themselves but also contribute to the overall development of society.

Yang highlights that entrepreneurship allows individuals to take control of their own destiny and have a direct impact on the world around them. It provides an avenue for innovation, problem-solving, and the creation of new products and services. Moreover, starting a business can lead to personal fulfillment and financial success, as entrepreneurs have the potential to build wealth and achieve their goals.

2. The need for a culture of entrepreneurship

Building on the importance of entrepreneurship, Yang emphasizes the need for a culture that supports and encourages entrepreneurial endeavors. He argues that society should celebrate and promote entrepreneurship as a viable career option, rather than solely valuing traditional professions such as law or medicine.

Yang suggests that educational institutions, parents, and the media should play a role in fostering this culture of entrepreneurship. By providing resources, mentorship, and exposure to entrepreneurial success stories, individuals can be inspired and empowered to pursue their own ventures. Additionally, creating an environment that embraces risk-taking, failure, and learning from mistakes is crucial in nurturing the entrepreneurial spirit.

3. The importance of aligning passion and skills

According to Yang, one of the keys to success in entrepreneurship is aligning one's passion with their skills. He argues that individuals should identify their unique strengths and interests and find ways to leverage them in their entrepreneurial pursuits.

By combining passion and skills, entrepreneurs can create businesses that are not only financially viable but also personally fulfilling. Yang emphasizes that building a business solely for the sake of making money is unlikely to lead to long-term success and satisfaction. Instead, entrepreneurs should focus on solving problems they are genuinely passionate about, as this will drive their motivation and resilience in the face of challenges.

4. The value of apprenticeships

Yang highlights the importance of apprenticeships as a valuable alternative to traditional higher education. He argues that apprenticeships provide individuals with practical skills and real-world experience, making them better prepared for the workforce.

Apprenticeships allow individuals to learn directly from experienced professionals and gain hands-on knowledge in their chosen field. This approach not only accelerates learning but also provides a clearer understanding of the industry and its challenges. Yang suggests that expanding apprenticeship programs and creating more opportunities for individuals to gain practical skills can help bridge the gap between education and employment.

5. The role of venture capital

In the book, Yang emphasizes the crucial role of venture capital in supporting entrepreneurship and driving innovation. He explains that venture capital firms provide funding and mentorship to early-stage startups, enabling them to grow and scale their businesses.

Yang argues that venture capital is essential in creating a vibrant entrepreneurial ecosystem. It allows entrepreneurs to access the necessary resources and expertise to turn their ideas into successful ventures. Additionally, venture capital investment can have a multiplier effect on the economy, as successful startups create jobs and generate economic value.

6. The importance of building a strong network

Yang emphasizes the significance of building a strong network in entrepreneurship. He argues that having a diverse and supportive network can provide entrepreneurs with valuable connections, advice, and opportunities.

By actively networking and building relationships with like-minded individuals, entrepreneurs can tap into a wealth of knowledge and resources. Yang suggests attending industry events, joining professional organizations, and seeking out mentors to expand one's network. Additionally, he highlights the importance of reciprocity in networking, as helping others can lead to reciprocal support and collaboration in the future.

7. The impact of entrepreneurship on communities

Yang discusses the positive impact that entrepreneurship can have on communities. He argues that successful entrepreneurs not only create jobs but also contribute to the overall economic development of their communities.

Entrepreneurship can revitalize local economies, attract investment, and foster innovation. Yang suggests that communities should actively support and promote entrepreneurship by providing resources, infrastructure, and a favorable business environment. By doing so, they can create a virtuous cycle of entrepreneurship, where successful entrepreneurs reinvest in their communities and inspire others to follow in their footsteps.

8. The importance of continuous learning and adaptation

Yang emphasizes the need for entrepreneurs to embrace continuous learning and adaptability. He argues that the business landscape is constantly evolving, and entrepreneurs must stay ahead of the curve to remain competitive.

By continuously seeking new knowledge, staying informed about industry trends, and being open to change, entrepreneurs can position themselves for long-term success. Yang suggests that entrepreneurs should be willing to pivot their business strategies, learn from failures, and constantly iterate their products or services based on customer feedback.