We have a lot to learn from history. If we take a trip down Wall Street’s memory lane, we’ll discover that it was founded on the principle of creative destruction, the creation of new industries and companies that build better products and services than those we currently have. Instead, as Tom Friedman so eloquently stated in his column this week, they’ve fallen into the horrible habit of “financing too much “destructive creation” (inventing leveraged financial products with no more societal value than betting on whether Lindy’s sold more cheesecake than strudel).” This is a problem but is not yet one that is too far gone. I believe Wall Street, and by extension our economy and our society, can be saved.
Wall Street can create jobs outside its walls
Most job creation comes from start-ups – companies founded by passionate, insightful people seeing a pain they want to fix and then inventing a product or service to alleviate that pain. Maybe that’s the need for a better vacuum cleaner – thank you, Mr. Dyson – or maybe it’s the need to help creative get their projects funded by small contributions from a large group of strangers – thank you, Kickstarter.
Why can’t financial firms take a small portion of their earnings and provide more loans to start-ups at very low-interest rates? There’s plenty of waste going on in financial firms on projects that never take off beyond the ideation phase, money that would do just as much good being burned in the middle of the street. Instead, take that money and take a chance on a set of entrepreneurs who are trying to build something of value rather than rearrange value by moving money around in a big circle.
Consider it corporate philanthropy or just the right thing to do. Wall Street should figure out how to reinvent itself as a jobs creator, and that doesn’t mean hiring more bankers. It means funding people with good ideas that the world needs. About a year ago I wrote a letter to the CEO of the company I worked for and proposed this type of idea. He never responded; he may never have received the letter. But I’m going to give it a go again and point to a recent peer of his, Howard Schultz of Starbucks, who is doing something on par with this idea.
We’re all in this together
The Occupy Wall Street protectors and the banks have conspired together in a war of “us” (the people) against “them” (the banks). It doesn’t need to be that way. And actually it can’t be that way if we want our economic situation to improve. Like it or not, money and creative ideas, together, make the world go round. We’re in this life together, in this world together. And no one person has more of a right to a good life than any other. We are equals, and we need to start treating each other and supporting each other as such.
The short of it:
Writer. Health, education, and art advocate. Theater and film producer. Visual artist. Product geek. Proud alumnae of the University of Pennsylvania (BA) and the Darden School of Business at the University of Virginia (MBA). Inspired by ancient wisdom & modern tech. Proliferator of goodness. Opener of doors. Friend to animals. Fan of creative work in all its wondrous forms. I use my business skills to create passion projects that build a better world. I’ve been called the happiest New Yorker, and I try hard to live up to that title every day.
The long of it:
My career has stretched across Capitol Hill, Broadway theatre, education, nonprofit fundraising, health and wellness, and Fortune 500 companies in retail, media, entertainment, technology, and financial services. I’ve been a product developer and product manager, theater manager, strategic consultant, marketer, voice over artist, , teacher, and fundraiser. I use my business and storytelling to support and sustain passion projects that build a better world. In every experience, I’ve used my sense of and respect for elegant design to develop meaningful products, services, programs, and events.
While building a business career, I also built a strong portfolio as a journalist, novelist, freelance writer, interviewer, presenter, and public speaker. My writing has appeared in The Washington Post, The Huffington Post, PBS.org, Boston.com, Royal Media Partners publications, and The Motley Fool on a wide range of topics including business, technology, science, health, education, culture, and lifestyle. I have also been an invited speaker at SXSW, Teach for America, Avon headquarters, Games for Change, NYU, Columbia University, Hunter College, and the Alzheimer’s Foundation of America. The first book in my young adult book series, Emerson Page and Where the Light Enters, was acquired by a publisher and launched in November 2017. I’m currently working on the second book in the series.
A recovering multi-tasker, I’m equally at home in front of my Mac, on my yoga mat, walking my rescue dog, Phineas, traveling with a purpose, or practicing the high-art of people watching. I also cut up small bits of paper and put them back together as a collage artist.
My company:
I’m bringing together all of my business and creative career paths as the Founder of Double or Nothing Media:
• I craft products, programs, and projects that make a difference;
• I build the business plans that make what I craft financially sustainable;
• I tell the stories that matter about the people, places, and products that inspire me.
Follow my adventures on Twitter at https://twitter.com/christanyc and Instagram at https://instagram.com/christarosenyc.
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1 thought on “Beginning: Where Wall Street and the Occupy Wall Street Protestors Needs to Go From Here”
Christa Avampato 
1 thought on “Beginning: Where Wall Street and the Occupy Wall Street Protestors Needs to Go From Here”