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FOUNDER - PACIFIC INNOVATIONS: You Learn From Your Failures

About this video 

Ko is the founder of Pacific Innovations, which collects data from the government and banks and converts it into a format that is easier to understand. He started out studying accounting in college, but made two more changes before finally arriving at environmental economics, where he analyzed renewable energy and how to finance projects. He advises that it is ok to fail because you learn from your failures.

Degree: Environmental Economics
Job Title: Founder of Pacific Innovations
Employer: Self-Employed

Job Summary: Entrepreneurs

Job Description

Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled. An entrepreneur sees an opportunity and exercises initiative by organizing a venture to turn an idea into reality. An entrepreneur is often seen as a business leader and innovator of new ideas and business processes.

On-the-Job Training

No

Additional Info

Entrepreneurship is defined by risks and rewards. Most people who become entrepreneurs are more comfortable with risks; prefer unstructured working and learning environments and collaborating with small team of people.

Quick Facts

Average salary
Average salary
National Statistic Change Location
Confirm
$0 - $200,000
Projected job growth
Projected Job Growth
Not applicable
Typical schedule
Typical schedule
Full-time, Long hours, Varies Widely
Typical workplace
Typical workplace
Office, Remote, Indoor, Home
Personal qualities
Personal Qualities
Problem solving skills, Creativity, Verbal communication skills, Leadership ability, Teamwork, People skills, Public speaking ability, Networking, Adventurous, Organizational skills, Courageous

Educational Path

Education requirement
Education Requirement
Bachelor's degree
View Detailed Career Data

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P3.instances[0].transcript.parse_transcript_data({"transcript":"<p><span m='680'>My</span> <span m='800'>name</span> <span m='1010'>is</span> <span m='1170'>Cof</span> <span m='1320'>Somberg</span> <span m='1920'>and</span> <span m='2280'>I'm</span> <span m='2390'>the</span> <span m='2500'>founder</span> <span m='2900'>of</span> <span m='3040'>Pacific</span> <span m='3520'>Innovation.</span> <span m='5020'>What</span> <span m='5530'>I</span> <span m='5760'>mainly</span> <span m='5900'>do</span> <span m='6180'>is</span> <span m='6905'>I</span> <span m='7250'>collect</span> <span m='7720'>data</span> <span m='8240'>from</span> <span m='8600'>the</span> <span m='9080'>government</span> <span m='9572'>and</span> <span m='10064'>the</span> <span m='10556'>banks,</span> <span m='11048'>and then</span> <span m='11540'>I convert</span> <span m='12032'>it</span> <span m='12530'>into</span> <span m='13190'>more</span> <span m='13920'>readable</span> <span m='14400'>format</span> <span m='14960'>so</span> <span m='15090'>that</span> <span m='15320'>people</span> <span m='15670'>could</span> <span m='15850'>just</span> <span m='16149'>understand</span> <span m='16730'>it</span> <span m='16890'>in a</span> <span m='17160'>much more</span> <span m='17590'>easier</span> <span m='17930'>way.</span> </p><p><span m='19000'>So</span> <span m='19270'>instead</span> <span m='19580'>of</span> <span m='19780'>reading</span> <span m='20100'>a</span> <span m='20440'>120-page</span> <span m='21700'>statement</span> <span m='22310'>that</span> <span m='22570'>a</span> <span m='22680'>company</span> <span m='23110'>might</span> <span m='23430'>release</span> <span m='23950'>to</span> <span m='24050'>the</span> <span m='24130'>public</span> <span m='24970'>with</span> <span m='25230'>a</span> <span m='25350'>lot</span> <span m='25650'>of</span> <span m='26180'>good</span> <span m='26380'>information</span> <span m='26940'>inside</span> <span m='27360'>it,</span> <span m='28090'>I</span> <span m='28190'>would</span> <span m='28845'>be</span> <span m='29130'>converting</span> <span m='29560'>that</span> <span m='29970'>into</span> <span m='30800'>a</span> <span m='30880'>more</span> <span m='31400'>readable</span> <span m='31850'>format</span> <span m='32409'>by</span> <span m='32540'>just</span> <span m='32860'>scrolling</span> <span m='33210'>on</span> <span m='33380'>the</span> <span m='33460'>website,</span> <span m='34290'>by</span> <span m='34610'>looking</span> <span m='34720'>at</span> <span m='35020'>all</span> <span m='35300'>the popular</span> <span m='35760'>information</span> <span m='36730'>as</span> <span m='36900'>much</span> <span m='37130'>as</span> <span m='37260'>possible.</span> <span m='38190'>Which</span> <span m='38510'>is</span> <span m='39280'>a</span> <span m='39350'>lot</span> <span m='39520'>more</span> <span m='39680'>easier</span> <span m='39980'>than</span> <span m='40300'>just</span> <span m='40510'>reading</span> <span m='40790'>a hard</span> <span m='41210'>page,</span> <span m='41630'>and</span> <span m='42130'>I</span> <span m='42260'>don't</span> <span m='42470'>like</span> <span m='42660'>to</span> <span m='42770'>read</span> <span m='42940'>that much.</span> <span m='44430'>And</span> <span m='44610'>that's</span> <span m='44820'>what</span> <span m='45010'>I</span> <span m='45060'>do</span> <span m='45450'>on</span> <span m='45660'>a</span> <span m='45690'>daily</span> <span m='45940'>basis.</span> <span m='46580'>I</span> <span m='47080'>create</span> <span m='48000'>the</span> <span m='48620'>formula</span> <span m='49690'>in</span> <span m='50140'>order</span> <span m='50310'>to</span> <span m='50480'>just</span> <span m='51320'>convert</span> <span m='51750'>the</span> <span m='51840'>data</span> <span m='52460'>in</span> <span m='52700'>the</span> <span m='52810'>way</span> <span m='53050'>that</span> <span m='53580'>users</span> <span m='54210'>would</span> <span m='54460'>be</span> <span m='54660'>able</span> <span m='54860'>to</span> <span m='55610'>view</span> <span m='55810'>it</span> <span m='56150'>in</span> <span m='56300'>a</span> <span m='56350'>more</span> <span m='56780'>efficient</span> <span m='57105'>manner.</span> </p><p><span m='58500'>For</span> <span m='58700'>college,</span> <span m='59350'>I</span> <span m='59990'>initially</span> <span m='60740'>was</span> <span m='60920'>studying</span> <span m='61630'>for</span> <span m='61980'>accounting</span> <span m='62930'>to</span> <span m='63350'>become</span> <span m='63740'>a</span> <span m='63870'>CPA,</span> <span m='65486'>a</span> <span m='65974'>certified</span> <span m='66462'>public</span> <span m='66950'>accountant</span> <span m='67630'>to</span> <span m='69090'>do all</span> <span m='69460'>the</span> <span m='69600'>analysis</span> <span m='70290'>on</span> <span m='70470'>the</span> <span m='70550'>accounting</span> <span m='70980'>side.</span> <span m='71690'>However,</span> <span m='72320'>I</span> <span m='72480'>pretty</span> <span m='72890'>much</span> <span m='73120'>got</span> <span m='73360'>bored</span> <span m='73800'>in</span> <span m='73980'>about</span> <span m='74350'>a</span> <span m='74450'>year.</span> <span m='75180'>I</span> <span m='75300'>switched</span> <span m='75750'>into</span> <span m='75970'>business,</span> <span m='76790'>but</span> <span m='77400'>business</span> <span m='77920'>didn't</span> <span m='78140'>really</span> <span m='78530'>struck</span> <span m='78870'>me</span> <span m='79380'>as</span> <span m='79560'>well,</span> <span m='79990'>so</span> <span m='80880'>another</span> <span m='81210'>year</span> <span m='81400'>passed</span> <span m='82120'>and</span> <span m='82260'>I</span> <span m='82320'>switched</span> <span m='82700'>my</span> <span m='82780'>major</span> <span m='83120'>again</span> <span m='83385'>to</span> <span m='83650'>environmental</span> <span m='84280'>economics.</span> <span m='85440'>So</span> <span m='85760'>that</span> <span m='85920'>was</span> <span m='86140'>when</span> <span m='86780'>my</span> <span m='86930'>interest</span> <span m='87350'>actually</span> <span m='88140'>came</span> <span m='88480'>in.</span> <span m='88810'>And</span> <span m='89300'>I</span> <span m='89390'>was</span> <span m='90030'>starting</span> <span m='90320'>to</span> <span m='90430'>analyze</span> <span m='91510'>renewable</span> <span m='91880'>energy</span> <span m='92730'>and</span> <span m='92960'>how</span> <span m='93190'>to</span> <span m='94210'>finance</span> <span m='94900'>projects.</span> </p><p><span m='96430'>For</span> <span m='96590'>example,</span> <span m='97520'>when</span> <span m='97600'>you</span> <span m='97680'>want</span> <span m='97910'>to</span> <span m='97990'>create</span> <span m='99120'>a</span> <span m='99470'>power</span> <span m='99660'>plant</span> <span m='100210'>with</span> <span m='100490'>solar</span> <span m='100790'>panels,</span> <span m='101320'>what</span> <span m='101790'>would</span> <span m='102170'>the</span> <span m='102280'>cost</span> <span m='102670'>be</span> <span m='102880'>like,</span> <span m='103730'>what</span> <span m='103940'>will</span> <span m='104040'>you</span> <span m='104160'>need,</span> <span m='104760'>and</span> <span m='105290'>what</span> <span m='106550'>will</span> <span m='106660'>you</span> <span m='107576'>actually</span> <span m='108072'>have</span> <span m='108570'>to</span> <span m='109110'>complete</span> <span m='110090'>as</span> <span m='110330'>a</span> <span m='110400'>permanent,</span> <span m='110870'>or</span> <span m='111110'>regulation</span> <span m='111760'>purpose,</span> <span m='113450'>to</span> <span m='113600'>close</span> <span m='113970'>the</span> <span m='114210'>actual</span> <span m='114610'>deal,</span> <span m='114865'>what</span> <span m='115120'>we'd need.</span> <span m='115640'>So</span> <span m='116340'>that</span> <span m='116710'>really</span> <span m='118310'>was</span> <span m='118690'>very</span> <span m='118940'>interesting</span> <span m='119670'>for</span> <span m='119770'>me,</span> <span m='120850'>instead</span> <span m='121220'>of</span> <span m='121350'>just,</span> <span m='122480'>I</span> <span m='122580'>think</span> <span m='122860'>the</span> <span m='122980'>accounting</span> <span m='124220'>background</span> <span m='124930'>really</span> <span m='125160'>helped,</span> <span m='125670'>but</span> <span m='125960'>in a</span> <span m='126040'>sense,</span> <span m='126470'>I</span> <span m='126570'>was</span> <span m='127230'>able</span> <span m='127560'>to</span> <span m='127890'>end</span> <span m='128090'>up</span> <span m='128240'>switching</span> <span m='129020'>around</span> <span m='129630'>and</span> <span m='130300'>start</span> <span m='130575'>learning</span> <span m='130850'>what I</span> <span m='131275'>really</span> <span m='131700'>wanted</span> <span m='132125'>to learn.</span> </p><p><span m='133400'>But</span> <span m='133740'>what</span> <span m='134080'>I</span> <span m='134150'>wish</span> <span m='134450'>I</span> <span m='134500'>knew</span> <span m='134990'>when</span> <span m='135150'>I</span> <span m='135180'>was</span> <span m='135360'>younger</span> <span m='136160'>was,</span> <span m='137310'>if</span> <span m='137480'>you</span> <span m='137570'>have</span> <span m='137790'>a</span> <span m='137860'>chance,</span> <span m='138490'>just</span> <span m='138760'>take</span> <span m='138990'>it.</span> <span m='140300'>I</span> <span m='140380'>started</span> <span m='140790'>taking</span> <span m='141390'>more</span> <span m='141660'>risk</span> <span m='142210'>when</span> <span m='142270'>I</span> <span m='142330'>was</span> <span m='142520'>in</span> <span m='142640'>college,</span> <span m='143340'>and</span> <span m='143880'>it's</span> <span m='144090'>not</span> <span m='144550'>really</span> <span m='145000'>a</span> <span m='145300'>easy</span> <span m='145610'>decision</span> <span m='146080'>to make</span> <span m='146500'>of switching</span> <span m='146920'>majors</span> <span m='147340'>and</span> <span m='147760'>stuff.</span> <span m='148600'>But</span> <span m='148900'>during,</span> <span m='149140'>like,</span> <span m='149540'>middle</span> <span m='149810'>school</span> <span m='150360'>and</span> <span m='150550'>high</span> <span m='150700'>school,</span> <span m='151200'>I</span> <span m='151310'>didn't</span> <span m='151550'>really</span> <span m='151940'>take</span> <span m='152270'>that</span> <span m='152460'>much</span> <span m='152700'>risk</span> <span m='152890'>to</span> <span m='153040'>begin</span> <span m='153350'>with,</span> <span m='153870'>but</span> <span m='154980'>I</span> <span m='155530'>started</span> <span m='155880'>to</span> <span m='155960'>understand</span> <span m='156540'>that</span> <span m='157760'>failure</span> <span m='158830'>is</span> <span m='159010'>always</span> <span m='159290'>an</span> <span m='159390'>option,</span> <span m='159970'>and</span> <span m='160220'>it's</span> <span m='160410'>not</span> <span m='161270'>a</span> <span m='161340'>bad</span> <span m='161630'>thing.</span> </p><p><span m='162250'>And</span> <span m='162790'>if</span> <span m='163250'>you</span> <span m='163400'>learn</span> <span m='163680'>from</span> <span m='163890'>your</span> <span m='164000'>failures,</span> <span m='164820'>it's</span> <span m='165120'>a</span> <span m='165200'>much</span> <span m='165500'>more</span> <span m='165700'>better</span> <span m='165950'>thing</span> <span m='166400'>that</span> <span m='166580'>you</span> <span m='166690'>can</span> <span m='166870'>do.</span> <span m='167240'>And</span> <span m='167650'>you</span> <span m='167820'>could</span> <span m='167950'>switch</span> <span m='168270'>around,</span> <span m='169220'>and</span> <span m='169890'>I</span> <span m='169970'>think</span> <span m='170460'>that's</span> <span m='170780'>going</span> <span m='170950'>to</span> <span m='171050'>be</span> <span m='171210'>one</span> <span m='171430'>of</span> <span m='171490'>the</span> <span m='171660'>most</span> <span m='171930'>important</span> <span m='172470'>thing</span> <span m='172860'>in</span> <span m='173040'>the</span> <span m='173140'>near</span> <span m='173350'>future</span> <span m='173930'>since</span> <span m='175320'>one</span> <span m='175570'>thing</span> <span m='176460'>might</span> <span m='176710'>be</span> <span m='176860'>OK</span> <span m='177190'>for</span> <span m='177400'>you,</span> <span m='177780'>but</span> <span m='178040'>knowing</span> <span m='179130'>multiple</span> <span m='179290'>fields</span> <span m='179830'>and</span> <span m='180050'>what</span> <span m='180590'>other</span> <span m='180810'>people</span> <span m='181110'>do</span> <span m='181600'>in</span> <span m='182580'>their</span> <span m='183070'>careers,</span> <span m='184050'>or</span> <span m='184540'>just</span> <span m='185030'>looking</span> <span m='185520'>at</span> <span m='186010'>different</span> <span m='186500'>of backgrounds</span> <span m='186990'>will</span> <span m='187490'>definitely</span> <span m='188000'>improve</span> <span m='190410'>what</span> <span m='190670'>you</span> <span m='190750'>want</span> <span m='190950'>to</span> <span m='191050'>do,</span> <span m='191350'>or how</span> <span m='191813'>you</span> <span m='192276'>want</span> <span m='192740'>to</span> <span m='193240'>shape</span> <span m='193540'>your</span> <span m='193650'>future.</span> <span m='194580'>So</span> <span m='195230'>it's</span> <span m='195450'>just,</span> <span m='196340'>don't</span> <span m='196540'>be</span> <span m='196660'>afraid,</span> <span m='196960'>and just</span> <span m='197260'>take</span> <span m='197560'>the</span> <span m='197860'>risk.</span> 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