By Jeremy Rosenberg
David C. McCourt , the first-ever USC Annenberg Economist in Residence, arrived on campus Monday and jumped headfirst into a busy four-day schedule that includes a variety of public events, classroom visits, and student, staff and faculty conversations.
McCourt is the Chairman and CEO of Granahan McCourt Capital, as well as Satellite Holdings, LLC and Skyware Global. Hailed as a telecom, media and communications pioneer, he's founded or acquired 14 companies in seven countries.
“If you don’t understand economics, you don’t understand America," McCourt said following one of his Monday morning engagements.
Beginning at 8 a.m., McCourt met throughout the day with faculty members, including professors Gabriel Kahn and Christopher Smith, as well as USC Annenberg Dean Ernest J. Wilson III. Kahn and Smith are co-directors of USC Annenberg's nascent and high-priority M{2e} Media, Economics & Entrepreneurship initiative, the program that’s hosting the Economist in Residence.
McCourt said Monday he was excited when Wilson first told him about M{2e}. "It's not clear that we're teaching kids about innovation and how it interacts with economics," said McCourt, who was once named "Entrepreneur of the Year" by Ernst & Young LLP. "You have to be innovative but you have to be able to make money."
Early Monday evening, McCourt was the guest of honor at a graduate student happy hour held in ASCJ 207. Following brief introductions by Smith and Kahn, McCourt gave a quick history of his career. Afterward, students, faculty, staff, and McCourt freely mingled.
Masters of Journalism student Olga Khazan attended the mixer and said she had been looking forward to hearing McCourt's perspective on innovation, the future of the journalism industry, and – as she's due to graduate next month – where the jobs are.
Stylés Akira , a doctoral student in the School of Communication, praised USC Annenberg for inviting McCourt.
"The department bringing in an economist who has such extensive insight into the job market is very important," Akira said, "and is substantial in the way they view their student body as human assets."
Earlier Monday, McCourt spoke with select USC Marshall entrepreneurial club members. Smith, who accompanied McCourt, said one student asked McCourt whether he had ever failed. The serial entrepreneur responded affirmatively.
Smith said that the globetrotting McCourt also explained that the United States is at the same time the best and worst place for entrepreneurship. It’s the worst, McCourt said, because the country now takes for granted its traditional position as an entrepreneur leader.
As for being the best place? That, McCourt said, is thanks to Americans' capacity to accept failure – particularly when it stems from ethical behavior.
"From a cultural-analytic standpoint, it really was profound how culturally driven we are by the comeback story," Smith said. "That's fundamental to being an entrepreneur – that you're going to fail repeatedly. But peeling yourself off the canvas and starting again is something that Americans warm up to."
McCourt's visit is funded by the generous support of the parents of a USC Annenberg undergraduate.
His engagements culminate on Thursday, April 7. At noon that day, he will speak to the topic of, "The Road Ahead."
RSVPs are required for that event – visit this page to do so.
