Magnus' Newsletter - Youth Empowerment
A newsletter around tech, entrepreneurship, and early-stage startups with insights and analysis.
If you're not a subscriber yet, subscribe below.
In my work as Founder and CEO of Antler, an early-stage VC, I get to work with exceptional entrepreneurs who are looking to solve real problems and improve the world. I am inspired every day by their work. I decided to launch this newsletter to share my thoughts on the big issues that are on my mind and that I see these entrepreneurs tackle. It is my hope that this newsletter will help to get all of us thinking about how best to approach solving the world’s most pressing problems and seizing its most compelling opportunities.
2020 has been an eventful year, to say the least. We at Antler have always been guided by the philosophy that great necessity inspires great innovation. This concept spurred us for example to launch our global COVID-19 Call initiative, funding startups such as Path BioAnalytics, which develops precision medicine that tailors drug treatment to specific patient populations, and Biogenes Technologies, a startup in the field of molecular diagnostics and genomics. Both startups tackle important problems in the healthtech industry which were amplified by COVID.
When investing at such an early stage, the most important aspect of the process is choosing the right people to back based on factors like a talent spike, but also grit and drive. Consequently, one question at the top of my mind lately is “How can today’s young people turn adversity into opportunity?”
As the father of a teenager whose career aspirations have vacillated between entrepreneur, MMA fighter, and historian during the past month alone, I can well imagine the dilemmas facing fresh high school and university graduates during these uncertain times. What I tell my son is: “Hardly anyone’s life proceeds along a straight trajectory, so don’t be afraid- of hard work, of taking risks, of failing, and most importantly, of asking for help.” In fact, my own side gigs as a glacier guide, bike mechanic, and handyman not only helped me to put myself through Harvard, but also allowed me to build invaluable leadership and problem-solving skills that I continue to benefit from to this day.
Undoubtedly, members of the Class of 2020 will struggle. However, I truly believe that young people are the world’s greatest resource and that in today’s technologically advanced era, it is entirely possible to continue growing and developing even if one is stuck at home. To this end, we recently piloted Antler Launch Academy, a free online course for aspiring entrepreneurs, and we plan on rolling it out globally over the coming year. I am hopeful that you will join me in supporting the next generation. If we collectively commit to urging the young people in our lives to invest in themselves, be flexible, open-minded, and to hustle hard, I am confident that we can make a difference. With this objective in mind, I have compiled some content related to the theme of Youth Empowerment for my first newsletter, that I invite you to explore below.
Thank you for taking the time to read my newsletter. If you think others might enjoy this content, feel free to forward or share. I would also be delighted to hear from you- to exchange ideas, discuss opportunities, or receive constructive feedback.
Magnus Grimeland
Founder and Chief Executive Officer
📚Thought-provoking articles about what the youth of today are facing
Graduating in Crisis (The Atlantic) - Graduating into a recession, members of the Class of 2020 face diminished short and long-term economic prospects. Those who proactively upskill and build relevant experience (even if via unpaid internships and volunteer work), will be best positioned to seize emergent opportunities: Link
Afghan Teens Innovate Low-Cost Ventilator (UNICEF) - It is always very empowering when youth are taking advantage of difficult times and situations to innovate and have a positive contribution. For example, when UNICEF sponsored a ventilator design initiative, the all-female Afghan Dreamers robotics team rose to the challenge. Leveraging open-source design and automotive spare parts, they innovated a $700 prototype to save lives when $20K conventional ventilators are unavailable: Link
Learning from the Future (HBR) - How can we formulate a strategy or a plan in a time of uncertainty? Uncertainty stems from our inability to compare the present to anything we’ve previously experienced. When situations lack analogies to the past, we have trouble envisioning how they will play out in the future. This is when strategic foresight - the capacity to sense, shape, and adapt to what happens - becomes even more important, whether it is in a business setting or when thinking about your future: Link
📢 Antler-portfolio company empowering youth
Sampingan is increasing efficiency and expanding opportunities for both employers and employees in Indonesia’s gig economy as they allow blue-collar workers to earn additional income. The majority of their workers are at the age of 18-25, with many of them earning their first income through the Sampingan platform, helping many young families to move above the poverty line.
Here are some insights from Wisnu Nugrahadi, Sampignan’s CEO and Co-Founder, on how they are helping this new generation of workers in Indonesia.
What are the challenges for blue-collar workers and employers in Indonesia? The top challenge regarding blue-collar employment is the mismatch and lack of transparency for both employers and employees. This has resulted in unqualified hirings, high employee turnover, and underpaid workers.
How has Sampingan supported the Indonesian workforce and employers? We connect businesses to a network of pre-vetted blue-collar workers across Indonesia. Through our platform, businesses can source, train, and manage all the blue-collar workers working under them. We have already helped over 300,000 blue-collar workers across 80 cities have earned money through our platform. In terms of customers, we have served over 100 enterprise companies.
Who are your most active users? Some of the most active and best-performing workers that they have seen are university students (tier 2 & 3 universities) and highschool graduates. This is partly due to their familiarity with using smartphones and they often see them teaching their older peers on how to get the most out of working through Sampingan.
Since the COVID-19 outbreak how has employment changed in Indonesia and how has Sampingan adapted to changing circumstances? We've seen a quite significant number of users now opting to use short-term workers compared to previously hiring full-time workers. In terms of business, we've adapted quite well with COVID since unlike the conventional companies operating in this space, most of the processes that we have are already online and does not require face-to-face interactions. Compared to the start of the year, we have almost doubled our monthly revenue.
🎓 Book Recommendation
The Third Door- When author Alex Banayan was 18, he set the audacious goal to secure one-on-one interviews with iconic leaders such as Bill Gates and Warren Buffet, then sharing their wisdom for the benefit of future generations. I enjoyed learning about Alex’s journey and the insights he gained along the way. One takeaway that particularly resonated with me was, “when you change what you believe is possible, you change what becomes possible” Link
If you're not a subscriber yet, subscribe below and spread the link around.