Profile Of A Chinese Millennial & Entrepreneur: Chelsea Lu

Having an entrepreneurial spirit and the urge to create one's own company is becoming increasingly characteristic of Millennials all over the world. Regardless of their country or continent, many young people seek to pursue their passions and create a name for themselves. This is the case for Chelsea Lu, a young entrepreneur in China, who after attending college and working in the U.S., moved back to China to create an Internet application. One of our Youth Advisory Board members, Bryan Spencer, interviewed her in the latest installment of his "Profile of a Chinese Millennial" series, highlighting this universal desire among young people to make a difference. 

Profile Of A Chinese Millennial & Entrepreneur: Chelsea Lu

Mark SaysBryan Spencer: So you're a 20-something year old entrepreneur in China. Can you tell me a little about your company? How did you form your company and what were you doing?

Chelsea Lu: I started this company after I quit my last job in digital advertising in the U.S. and came back to China. My sole motivation for quitting my job and coming home was to start my own tech company — the typical "Silicon Valley" style, and by that I mean focusing on building one consumer Internet application. I realize this was a pretty atypical path for a person on the buying side of digital advertising and with no coding experience. However, retrospectively, I think the seed for this adventure was planted during my first summer internship when I was working with a digital media team.

I especially remembered one guy from a startup that does verified code ad coming in for an introduction one afternoon. He was the co-founder of his own company and was VERY passionate about the product. To this day, I can still recall the goosebumps I got listening to him...in a good way.

After…

 
 

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Millennial News Feed

Quote of the Day: “My favorite app is Pokémon Go, because it's kinda a big deal for those of us who've been dreaming about it for over a decade.”—Female, 21, NJ 

The hottest new trend at Millennial companies: student loan repayments. In a 2015 Iontuition survey, eight in ten respondents say they would like to work for a company that offers student loan repayment assistance, and about half say they prefer student debt help over 401(k) contributions. The benefit has also been shown to deter employees from job-hopping and instead stay to “reap the entirety” of it. Despite the high interest, only 4% of companies are currently offering such programs—including Aetna, Fidelity Investments, Pricewaterhouse Coopers, and SoFi—but a change in legislation that will make the “benefit more favorable from a tax standpoint” may motivate others to follow. (Forbes

Fast casual restaurant Zoës Kitchen sees kids as the “no nugget generation.” The restaurant is debuting an updated kids’ menu that focuses on a variety of nutritious made-from-scratch meals for the “next generation of foodies,” including salmon or shrimp kabobs, ham and cheese piadina made with fresh mozzarella, and an orzo pasta bowl. The President of Zoës Kitchen, who happens to be the father of two young daughters, say that the kids of today “love experiencing new flavors, and gladly choose kabobs and hummus over fries… Ultimately, they crave food that makes them feel good.” (Business Wire

A new documentary is putting six recent graduates in the spotlight as they navigate the startup world in Detroit. Generation Startup, created by an Oscar-winning director, is revealing the “big sacrifices” young entrepreneurs are making “in the hopes of building something new, exciting and, hopefully, financially rewarding.” The graduates are all fellows or alumni for Venture of America, an organization that assists aspiring entrepreneurs, and are faced with challenges that include working 18-hour days, living in uncomfortable environments, and handling disapproval from parents who encourage a more stable career path. (Fast Company

According to a 2016 Bankrate survey, Millennials are great at saving—but that’s mostly because they have to be. About 62% of 18-29-year-olds are saving at least 5% of their income, which has become even more necessary in unreliable workplaces of today. Employers are increasingly hiring temporary employees or independent contractors, and as a result are not offering benefits like health insurance and paid leave. Many Millennials who can save have also been privileged with access to their parents’ financial help, which white children are three more likely to have than black children. (Quartz

Pokémon mania is passing its peak. Sensor Tower, SurveyMonkey, and Apptopia data have revealed that “Pokémon Go's daily active users, downloads, engagement, and time spent on the app per day are all well off their peaks and on a downward trend,” which many have observed is expected of any app that receives such intense initial attention. In our recent survey on Pokémon Go players we found that more than half consider the game a fad that no will care about a year from now. Google Trends data is also showing declining interest in augmented reality, however the possibilities of the technology shouldn’t be discounted after so many young consumers showed they will embrace it. (Bloomberg

Quote of the Day: “Political correctness is a two-way street of respect and telling the truth.”—Female, 17, WI

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