Utah Angel Summit - An Economic Engine
Over the centuries people have maligned, mistrusted and openly persecuted those who provide capital. Anti-Jewish sentiments in Europe go back more than a thousand year, and much of it has to do with the fact that Jews - being barred from many professions - became the banking system by making loans to nobility and business people alike. When the king, etc., did not want to repay the loan, it was easy to whip up anti-Jewish sentiments and confiscate their property or expel them from the country.
Even in our relatively capitalist country, many people have criticized bankers and investors for simply skimming off the profits of others. Such arguments, of course, ignore the fact that without those who provide the capital, most endeavors would fail or, more likely, never get started.
Thus it was interesting yesterday to hear Alan Hall of Grow Utah Ventures open the Utah Angel Summit. While the purpose of the summit was to help Angels make better investments, Mr. Hall focused on the end result of such self-motivated activities - continuing to keep Utah's economy booming. Yes, by seeking profits, Utah's Angels are helping entreprenuers start businesses. By seeking profits, Utah's entrepreneurs are creating jobs and bringing new products and services to Utah's families. It is a wonderful thing that looking out for your own self interest can benefit so many other people.
The great thing with Utah's Angels is that many of them know exactly what the entrepreneur is going through. Many of them got their investment money by starting businesses that employed many people, brought new products and services to the rest of us and, when sold, provided investment capital to help others repeat the process. Mr. Hall is one of those highly successful entrepreneurs who is giving back by investing in others. Thanks to Grow Utah Ventures for a great seminar.
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