White House Explains 'Startup America' with Markers

Still confused about Presidant Obama’s Startup America program? Well, Austan Goolsbee, Chairman of the Council of Economic Advisers, has drawn everything out for you on a white board.

As part of the White House White Board series, Goolsbee explains how the public-private initiative is trying to get entrepreneurs over the “valley of death.” He actually presents a fair overview of how it’s all theoretically supposed to work: Entrepreneurs need capital, less red tape, mentorship, and low taxes.

He goes on to say that “Americans understand the business model of a kid in a garage who creates the giant company.