Fireside Chat, Interview, Conference Presentation, Keynote
Rep. Kevin McCarthy: Standing Up for Small Businesses
Goldman SachsKevin McCarthy, John F.W. Rogers, Tyler Perry, Danny Meyer, Sarah Kauss, Wilbur L. Ross, Sara Blakely, Michael Bloomberg, Gina Raimondo, Rick Snyder, Marco Rubio, Lloyd Blankfein, Richard Branson, Warren Buffett
Speaker Context & Background
- The speaker is Kevin McCarthy, identified as the Majority Leader in the House.
- He identifies as a 53-year-old Republican from Kern County, California, despite his family being predominantly Democratic.
- His district holds the nation's largest solar energy district and Kern County produces the most oil of any county.
- Two families in his district grow 80% of the carrots in the country, including the invention of the baby carrot.
- McCarthy holds an undergraduate degree and an MBA but lacks a political science or law degree.
Entrepreneurial History & Early Ventures
- Began working at age 13 and purchased/sold cars at age 20 to pay for community college, later discovering this activity was illegal.
- In 1985, at age 20, he won a $5,000 lottery prize (in 1985 dollars), invested 80% of it in a stock that appreciated 33% over a few months.
- Opened "Kevin O's Deli" by subletting space from a cousin after being denied a franchise.
- Learned three core business lessons: the owner is the first to work, the last to leave, and the last to be paid.
- Sold the deli after one year to fund his college education at Cal State Bakersfield.
- Failed to secure a summer internship with his local congressman but eventually won the office the congressman once represented.
Legislative Actions & Policy Initiatives
- Co-authored a bipartisan "Jobs Act" by combining six bills to raise capital for small businesses, which was signed by President Obama.
- Established the "Innovation Initiative" to focus Congress on long-term (50–100 year) challenges rather than immediate legislative sessions.
- Notes that the average vote count for bills in the chamber is approximately 330, far exceeding the 218 votes required for passage.
- Stated that small businesses create more jobs than any large corporation in American history.
Strategic Advice for Small Business Owners
- Recommended building direct relationships with members of Congress by exchanging email and cell phone numbers.
- Urged owners to invite legislators to visit their businesses to understand operational challenges firsthand.
- Cited personal experience working at a garage door opener shop and an ice cream shop to meet constituents.
- Advised maintaining consistent communication with lawmakers via email or text a month after initial contact.
- Acknowledged the difficulty of capital and job training as primary hurdles for new entrepreneurs.
Philosophical & Historical Arguments
- Asserts that America is defined by the "idea" of liberty and equality rather than just geography, citing the Gettysburg Address.
- Recounts a visit by former Israeli President Shimon Peres, who stated the U.S. is the greatest nation because it gives the "ultimate sacrifice" for others' freedom.
- Analyzed Emanuel Leutze's painting Washington Crossing the Delaware, noting the artist envisioned a diverse crew (Scottish, African American, female, Native American, immigrant) to represent the 13 colonies.
- Highlighted that the painting depicts the crew rowing in the same direction, contrasting with current political division.
- Identified a "13th person" (an immigrant) in the painting with a hand over their face, using this as a metaphor for the need for new generations to join the national effort.
- Concluded that politicians and business owners should collaborate across party lines to build a "more perfect union."