American Monetary Association AMA 188 - Turn a Business Idea Into a Revolution with Seth Merrin
In the early 1980s, Seth Merrin was an intern on Wall Street who saw ways the industry could change for the better. His first startup was an order management software that asset managers around the world use. He later created the company Liquidnet Holdings that allows institutional investors to trade large blocks of stock.
Jason Hartman caught up with Seth to talk about his newest book, The Power of Positive Destruction, and how business owners can take ideas from other industries and disrupt theirs.
Key Takeaways:
[0:46] The premise for the Power of Positive Destruction
[2:53] Taking things from one successful industry, and applying them to your different industry, can provide huge boons
[5:35] The positive destruction created by companies like Uber, Lyft, AirBnB, etc
[8:59] The art and science of launching a company
[12:24] How Seth applied the principles from his book on his own companies
[16:05] Whether Wall Street is swinging back toward being an institutional game, and how Seth's platform plays in that
[21:03] The idea of corporate responsibility, and how the proceeds from the book sales are going to help house the orphans of the genocide in Rwanda
Website:
www.PositiveDestructionBook.com
"You either have a culture by design, or you have a culture by default. And you don't want to have a culture by default."