Economy

FU Nights Miami

FU Nights occur in 20+ cities around the world. As a goal, it is global movement that aims to accelerate the learning process while reaching people closer to actual cases of business failure. Logistically, it is a monthly event series where entrepreneurs talk about their biggest professional or business failure in a candid way.

 

As a Miami-specific example, Faquiry Diaz (CEO, Tres Mares Group) has already agreed to be the first speaker. By his own account, he has three war stories: (1) loosing www.serve.com to some college students, which was then bought for $300mm (2) loosing www.gradeyourprof.com, and (3) not turning www.pobox.com into the future Gmail.

Who are you?

An organizational psychologist, recent Miami returnee, and aspiring changemaker. I am the Founder/Dean of Awesome Foundation MIAMI and the curator of the Miami Global Shapers (a World Economic Forum initiative). I believe small changes add up.

How does this project impact the issue you selected?

Miami's economy is recovering but in need of investment and energy. As a social psychologist, I believe that larger community-wide pivot points emerge from accumulated individual points of inflection. Ultimately, entrepreneurial growth comes from the average citizen feeling enough self-efficacy to believe their idea is worth exploring. However, our narrative often highlights a handful of success stories without encouraging the average person to approach and feel heartened to undertake their own.

What data points from The Our Miami Report does your project address?

FU Nights engage the average Miamian in a frank conversation about failure and the process of entrepreneurship with the more of our denizens will want to turn their ideas into pilots, small businesses, and other ventures. This honest conversation will make entrepreneurship more accessible and will hopefully encourage (a) the formation of small businesses, (b) the growth or expansion of existing small businesses, and (c) a general sense of collaboration and innovation in our city.

Please give examples of your project's success.

Since its inception in Mexico City, FU Nights have spread to many cities in Mexico and to eight other global cities.

There has been much written and published about the power of failure as a learning tool, a rite of passage, and a positive driver toward innovation, change, and growth (as an example, see "The Power of Failure" in NYT by Sarika Bansal). Miami is a city growing and trying to find its legs - opening up about failure in a constructive way could be a powerful catalyst.

Organization Name (or individuals name) Natalia Martinez

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Idea No. 45