Blog Archives

#DOCUMENTARYUPDATE

4/24/2014

For the last two weeks Gisella and I have been working very hard on the script for our documentary. With some footage and tons of research it has been hard to synthesis everything and decide what to use and what to discard. Learning about micro credits has been challenging since it's a big and complicated topic but every aspect of it fascinates me. It an interesting topic to explore and I am so glad I chose it.

Everything I've learned so far is new and intriguing, this is why I've wanted to include every second of footage and research. I want to show my audience all the cool stuff I learned during this journey. However, this won't be possible since too much and it won't allow us to create one good documentary. This is why it's important to synthesize EVERYTHING and decide what to include and leave out of our film.

While doing our script Gisella and I tried to include everything we had learned, this was a MISTAKE. We were not focusing on the QUESTION = OUR MAIN GOAL. We were just trying to put everything in, without analysis. If there is no analysis then our video wasn't going to be successful because without any analysis the video wasn't going to flow. Following what we learned previously in the storytelling unit, like Ira Glass says, a good story is made from anecdotes and reflection. This is why we decided to redo our script, this time we had to focus on our GOAL, which is explaining how effective is microcredit lending and having a balance between anecdotes and reflection.

In order to do a second successful script we had to define the WHY and PURPOSE of our video, synthesize the research, define the components of the video and find the parts that will support the purpose.

PURPOSE ✏

Stating and focusing on our PURPOSE was very hard since we wanted to include everything we had learned. It was only in the second script when we actually FOCUSED in our purpose. Having a clear why helped us brainstorm ideas that actually lead our video ONE DIRECTION. Additionally we were able to find the research we needed and synthesis it so we could use it in our video. Finally we also stated the MAIN GOAL of each section in the script so that we could be guided better and in the end all the main goals lead to our purpose.

SYNTHESIZING RESEARCH

Having a clear purpose allowed us to think better what to add and what to keep out. This is why once we knew were we wanted to go with this video we could synthesis the research better. We choose the things, parts of research, that we wanted and narrowed everything down. We even did more research for somethings that were still vague like the pros and cons. Additionally while synthesizing everything we learned even more about our topic because if we could synthesis it and narrow the broad research down then it meant we clearly understood the topic.

While synthesizing the research, especially the pros and cons parts, I realized that microcredit lending is effective but it has some downfalls which means that it could be improved. As we know microcredit lending allows people from the lowest sector to access the financial system, since they are excluded from the traditional banking system. However, even though it provides them with amazing opportunities it also takes advantage of these people. The interest rates are extremely high, 30-40%, which is CRAZY. The banks and independent companies can make so much money from other services but they are using microcredit lending to make money out of the poor. As I realized from the research and reading from the interviews the private companies providing microcredit loans have a small incentive to help the people but they also take every possible opportunity to give them MORE and MORE loans. This leads me to predatory lending. One credit can be very beneficial for a client but once they take too many, which they can't handle, then they enter in a huge DEBT cycle. Additionally microcredit lending does help mitigate the negative effects of poverty but it is not the solution. Why? Because poverty is much more than just capital, it's lack of education, a stable home, food and basic needs. Microcredit loans can help individuals grow but not enough to lift them out of poverty. Finally as we can see microcredit lending has it's pros but it also has some cons which makes people question if it is really the solution.

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DOCUMENTARY = my biggest CHALLENGE

4/21/2014

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Creating this documentary has been my biggest CHALLENGE so far. This project has been completely independent; everything from learning the basics of our topic, creating our final product to setting our own deadlines to setting our own standard and goals. Mostly EVERYTHING has been autonomous. However, don't get me wrong, we've had check up's, tons of feedback and some general instructions but everything from creating the film to learning about our topic has been up to us.

AUTONOMY can be very cool but it can also be a challenge that comes with a lot of responsibility. This project, since we've been more self-directed than in other project, has been a completely different experience. Since we started this project it hasn't only been about doing the work but also figuring out how to work the schedule, plan and ask for feedback. Honestly I have learned SO MUCH, not only about my topic but about myself, my work ethics and general skills that successful business people need in life. It has been hard to to be so dependable on myself and trust my own instinct, but let me tell you that it has been a tremendous learning experience, and so far I love it.

To start off, as a group, Gisella and I, have not only been collaborating but along with her I have learned to push and keep each other accountable of things, remaining each other to work and do things we have to complete without having a teacher telling us to do this or that. Since Gisella left to JAB Mr. Topf didn't tell her what to do during her trip but instead Gisella and I divided roles that she could do over in Spain and I could do here in order to be PRODUCTIVE. We had to Skype meetings while she was gone where we shared our progress and talked about stuff we had to complete. It was incredible that she guided me and I guided her as well. We also gave each other feedback to improve.

☞☞DIVIDING ROLES & CONQUERING☜☜

Also, in class we have learned about economics through documentaries, vocabulary terms and reading Naked Economics. However, during class we never learned specific things about each topic so we were forced to go out there and search for answers and gain knowledge, by either going out and talking to experts or searching in the internet. By immersing myself in the world of micro credits I was constantly thinking about it and generating questions. I have learned so much more by experiencing it than but reading in the internet; I have a very clear understanding of the concept and terminology.

💵📈NAKED ECONOMICS📈💵

✎INTERVIEWS with MICROCREDIT lending experts

Moreover, I have learned the IMPORTANCE of PLANNING and how we have to outline the entire project, roles and tasks that we have to complete before the due date so that both of us can work hard until the end and when the due date is close we are not stressing out. Throughout the project we've planned out due dates and meetings in which we contacted professionals and set up meetings according to their schedule and ours. Aside from planning I've learned how to network and communicate with professionals through email and verbally during interviews. Addressing to the CEO of a bank is totally different than addressing to your friend.

Furthermore it has made me push the barrier higher since we've gotten a lot of time to do this documentary we have been working to our maximum potential to create the best work possible. There is nothing that defines or describes what the top documentary needs to include. We have created our own boundaries and set our barrier high to not only create beautiful work but amaze and create an impact in our audience with our film.

Finally I have learned to fail and learn from those mistakes. While doing our first interviews at Banco Financiero we had problems with the cameras because wee didn't set up the correct memory card, we didn't bring extra camera batteries, we forgot to empty the memory card or we forgot to bring the microphones. From this mistakes we made we learned and for our next interview we were more prepared we had even tested the cameras before.

This project has defiantly been a challenge for me and so far I've enjoyed the journey. I am proud of my work and I really want to show off my product at the end. It is a different journey but one worth taking.

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Planet of the Kids

4/14/2014

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INNOVATION, ENTREPRENEURSHIP and LEADERSHIP are the skills of the future.

I've never been so INSPIRED by a person, however, today these young entrepreneurs, Alex and Michelle, truly inspired me. They ignited my entrepreneurial and ingenious spirit. They made me ambitious and hurry to start something and make a change.

When they first walked into the class I had no idea they were so KNOWLEDGABLE and ENTHUSIASTIC about innovation. Well, of course, they grew up in Silicon Valley so they were exposed to that innovative culture since they were little. Michelle and Alex attended a middle school which involved no grades or the regular theory based learning. Unlike us, they began their education with a system very similar to what we do in Innovation Academy, which is all about learning form experience and project based learning. Believe me, if I would of gotten the chance to take the IA before I would of taken it. Everyday I remain myself how happy I am with this program, and how energetic I wake up on Monday's and Thursday's because I am so m o t i v a t e d.

Alex and Michelle are two WONDERFUL teens. In middle school, while I was memorizing for a test they were creating REAL solutions for REAL problems, they were learning how to plan projects and most importantly they were learning to fail and learn from experience. Both Alex and Michelle told us about the projects they created in 7th grade using the design thinking process. While Alex created a knee equipment to help with his pain before and after he played soccer Michelle created a wheel chair that adjust to the kids size as he or she grew. Both created these products from scratch, they found value in their creations and this is why they were successful. Once again I was amazed by their achievements at such young age.

I could hear a humble and passionate tone in their voice as they presented. You could clearly tell that they were familiar with business models and design thinking, which we saw previously in the year with Randy. They had a clear mission and had a great DRIVE that empowered them. I leanred that you are never too small or too big to learn and that anyone can teach you anything.

This two siblings have accomplished AMAZING things with only 8 and 10 years of school. To start with, they have already launched a website the connects young entrepreneurs and provides them with resources. They have meet with David Kelly, a co-founder of I D E O, an outstanding guy with extraordinary ideas. They are now setting up meetings with different schools around the world so they can present to kids like us and start the change. Listening to all their ideas and what they knew about innovation I just wanted to get started with a project and be as great as them.

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PRODUCTIVITY

4/11/2014

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Over time humans have increased their PRODUCTIVITY. Today we are way more productive than we were 30 years ago. So now you might be wondering,
what exactly is PRODUCTIVITY?
It's the "efficiency with which we convert inputs into outputs" (Naked Economics).

PRODUCTIVITY, in fact, is one of the most important IDEAS in ECONOMICS today. WHY? Because we are producing more things in 24 hours than ever before. As we become more productive we also start to get richer because we are producing more goods and services in a shorter amount of time.
TIME = $MONEY$
The less time we take to produce the more we will produce. Companies want MONEY therefore if they can make their employees more effective they will higher more people so that the company produces more and they can make extra money. However, the companies are not the only ones benefited but the employees too. People will make higher salaries and wedges. As employees are more efficient at work companies higher more productive people, and as more goods are made companies can afford to pay higher salaries/wedges.

However, humans are not the only ones making companies more productive but technology too. Technology today is so powerful that it has replaced people (employees) to make work more practical. Technology is replacing low skilled workers with machines. For example, as we walk in CVS we see people paying and packaging all their purchases. With automatic an cashier machines they just scan every product and pass a card or pay in cash and the machine will do the rest. No people are needed. Therefore now-a-days the only people who are worth a huge deal are those EDUCATED, HIGH SKILLED and EFFICIENT. Companies want UNIQUE people not REDUNDANT. So if you want to stand out not only make yourself more productive but scarce. Companies are doing everything to become more PRODUCTIVE.

So WHY has productivity increased over time?
H U M A N C A P I T A L
People are now investing more in themselves. We are saving money we can spend today, in luxuries or not important things, to spend more in the future like a good education (college). Since we are more educated, healthier and we have a better government so we have better jobs and perform better. Nonetheless HUMAN CAPITAL comes from long term sacrifice of saving up money.

PRODUCTIVITY
it is everything. It is essential for an economy
to be able to turn more in less time.

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DOCUMENTARY

4/7/2014

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🎥 🎥 🎥 🎥

Even the smallest projects we take on end up leaving us with tons of work.

Why?

Because everything we do matters, and we want to create beautiful work.

🎥 🎥 🎥 🎥

When we started this project and chose our topics I couldn't wait to begin filming. I still carry all this enthusiastic emotions, which drive me, and as I learn more about my topic I get more anxious to do the film. However, I didn't realize the MAGNITUDE of this challenge until today. Creating a documentary is NOT easy. People study film making, script writing, even spend months doing research and all kinds of things to produce professional documentary films. It is not only about doing the research, creating an outline, shooting and editing the film. Every step has to be slowly developed and completed in order for the film to be SUCCESSFUL.

Microcredit lending is not a straightforward topic, especially if you learn it by yourself. Google has been our main source to understand the most basic concepts and ideas. Nonetheless, going OUT and talking to REAL professionals has been our most valuable source. We've learned so much by visiting experts in this field that work on microcredit lending or something related EVERYDAY. There will never be a point were we collet enough information or we have learned everything. As we reach out to people, contact them and meet them we are learning new things about micro credits. Therefore by the end of this film we will be able to answer our question and be extremely knowledgable about the topic but there will still be somethings out there that we will learn.

Moreover, as we move onto the film planning it has been hard to build an outline. Gisella and I have learned so much that when we begun planning the film, outline and script, we had trouble deciding what to incorporate in the documentary. As I mentioned before we have learned so much about this topic that it has been tough leaving things out. As we were creating our first outline we were able to separate the information into two parts: things we needed for our documentary and were answering the question and just important things we learned about micro credits. With the help of this information separation we were able to develop a concise and complete outline for our film.

Furthermore, during class we shared our outlines with a partner to receive feedback. As I was talking to DD about her script I realized how important this component is and thus Gisella and I should develop ours in further detail. She included emotions she wanted convey, angles and effects she wanted to use, questions she wanted to ask and more. It was very SMART because when she was attending her interviews she knew specifically what and how to film. I realized that if we developed our outline more it would help guide the filming process better because this way we would know exactly what to ask to who and how and what we need to capture in video. Additionally, it would help us know what parts of the documentary we have completed and what footage or voice over we are missing.

I have been developing, along with Gisella in Spain, the outline in further detail. Little by little it is turning into a script. We have developed questions of thing we want to include in the film and specific shots we want to use for different effects. While doing this today I have realized how many footage we are missing and what things we need to repeat. If we take this week to develop the outline/script in detail and have a finalized version by the end of the week we will be able to do the filming much easier. Also, I understand that somethings are hard to determine now like some transitions or specific dialogue which will come as we go. However, we want to take the time to do this because we don't want to forget to ask something or film a specific part in the meetings because they only happen one time. It will also help us be more PRODUCTIVE.

OUTLINE/SCRIPT⤸

✍GOALS for this week:

FINISH outline/script:
➞Write down questions that I want to answer for each part
➞Write specific people for each part, what they are going to say, put questions
➞Write angles, tone/mood and music
➞Write down dialogue and voice overs
➞Write what clips are needed for each part, aside from the interviews

CONTACTS and questions:
➞Write down people I want to contact
➞Write question for every contact
➞Contact everyone and set an interview date

FILMING:
➞Make a list of things that still need to be filmed
➞Plan when specific things will be filmed
➞Ask Barreto to help us film clients
➞Email Rocío so we can film 5 clients and ask for possible dates to interview them

EDITING: (Gisella in Spain)
➞Go over footage
➞Save footage in ONE place and buy a backup

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INTERVIEW with Carlos Morante @MiBanco

4/4/2014

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11:35 am
@Avenida José Domingo Orué 165, Surquillo 15047

We got to the bank, left the car and immediately entered the bank through main entrance. I was very NERVOUS. Why wouldn't I be? We were interviewing the CEO of one of the most important banks of microcredit lending. This interview was no ordinary interview, today we were leaving an impression of ourselves and the school and we were getting one of the most important interviews on camera for our documentary.

We walked to the main desk and asked the lady for Carlos Morante, we told her we had an interview with him. She looked at us like we were kidding, but once she asked me my name she realize it was REAL because he had left a notice that we were coming. Before we could pass to the elevator the guard had to annotate the code of every technological thing we were carrying; we had two laptops and two cameras. This got me even more nervous and my stomach growling because it made everything seem more important.

We pressed the 4th floor, when the elevator door opened we turned right and the secretary, Marisa, opened the office door. She told us that Carlos was on his way and invited us to sit down. Later, she came with two books titled "Los nuevos héroes peruanos" and told us that this was going to help us with our project. It certainly did. This book tells different stories about microentrepreneurs who took out microcredit loans and succeeded or failed.

While I was reading the introduction, Carlos arrived and invited us to enter his office. We set everything up and began with the interview. During this moment, I was still stressed and nervous because I was afraid that we were going to have problems with the camera like last time, or we weren't going to have enough questions. In moments like that, everything goes through your head. The only thing that calmed me down was the fact that Carlos was so chill. He made jokes and asked us questions about the camera because he likes photography.

Once we finished setting up, the interview started. He begun by talking about Mi Banco history, which was the first bank specialized in micro finance. It started out during Fujimori's government exactly during the terrorist time; it started as an NGO but then it formalized to a real bank.

"Mi Banco captures clients who are natural at business and have that entrepreneurial spirit", he said.

Additionally, Carlos talked about how they not only reach out to clients but they also help them improve their business. He told us that this business is not about strategy but about BUILDING RELATIONSHIPS. It's completely true; for low social class people it's hard to trust in banks because they are scared to approach them; they seem intimidating and not trustworthy. However, if you create a bond between the client and the bank then they are going to trust you more with their money and businesses. This is why I believe that it's very effective that each client is assigned to the same adviser who visits them at least twice a year or more. Also, once the relationship is built, and the client has asked for a microcredit loan, then the bank gives them the opportunity to create an account so that they don't save their money under the bed, and it also allows them to buy health care and more.

The clients MATTER. Yes, part of the incentive is the high interest that gets high returns for the bank but also is to help those impoverished and informal businesses grow. It's to give an OPPORTUNITY. By helping a client you are also helping a family and allowing them to improve their life style. Also, for these financially illiterate people it's important to teach them how to handle their business and their money.

Lastly, like everything has a good side it also has a bad side. Microcredit lending, seen by Carlos eyes, does have a great POSITIVE impact on the peruvian economy. He mentioned how in 2006 40% of the economy was crude product, which came from micro enterprise, and today it's 80%. He does believe that the micro enterprise arousing from the microcredit lending plays huge role in the economy. However he also mentioned some downfalls of microcredit lending. Since there are many other companies that offer it today, clients take loans from more than one bank and then they can't pay back and end up in debt. Also, the fact that the interest rate is high is a plus for them but for the clients not because in the end up they ended up paying more. Finally, some people don't pay back and then the bank has to take away money from family members or even things they own.

Once we finished with the interview we wrapped up and got the cameras down. Carlos was very nice and knowledgable, it was a great interview. In the end we realized he knew both Gisella's and my dad's. Small, Small world. We said goodbye, thanked him and left.

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A step to A C T I O N

4/2/2014

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The more I work on my economics project and learn about microcredit lending the more EXCITED I get to do this documentary. There is no limit to where this project can go. It's all about what my partner and I want to include in the documentary.

Today consisted on running around, writing emails, calling and researching, all for the documentary. Just like Charles says in Naked Economics the more productive we are the richer we will become. If we are more productive we will get more work done. This is what I've done the past three classes, I've tried to be as productive as possible in order to do as much with Gisella before she leaves. I've been researching microcredit lending and getting a deeper and basic understanding of this topic. After some research and talking to people Gisella and I have a better idea of our project, documentary, and how we are going to work it out.

DEFINING the question ⟹
Before even starting the reserch, looking for the contacts or even planning anything BACKGROUND knowledge is essential. Not only to understand this topic better or formulate a question but to really evaluate whether or not this was something I was PASSIONATE about.

This is the question we (Gisella and I) came up with:
How effective is microcredit lending in Lima?

After developing the perfect question it was time, as a class, to evaluate the following things: RELEVANT, ORIGINAL, FEASIBLE, it CONNECTED to GOVERNMENT & ECONOMICS and most importantly it had VALUE.

BASIC/BACKGROUND research about Microcredit ⟹

NETWORKING with professionals ⟹

Esteban Hurtado

Carlos Morante

✎INTERVIEWS✎

So far we've had two interviews and they've been great. It is amazing how much you can learn from the real world and experts. We've gotten a look at micro finance and microcredit lending from the BEST perspective and we've learn A LOT.

PLANNING the project ⟹

Dates: March 26th - May 8th
*DAYS WE HAVE INNOVATION
*EXTRA DAYS WE WORK ON THE PROJECT

March 27 (Thursday)
Gisella + Andrea
During School:
⇾ Core research (answer questions in google docs + information about microcredit lending in Peru)

After School:
⇾ Continue Research (answer questions in google docs + information about microcredit lending in Peru)

March 31 (Monday) INTERVIEW
Gisella + Andrea
During School:
⇾ Core research (answer questions in google docs + information about microcredit lending in Peru)
⇾ Develop questions for interviews
⇾ Look for contacts (another bank and another company or group doing microcredit lending)
⇾ Email contacts for interviews

After School:
⇾ INTERVIEW @ 7:30 pm via Skype with Esteban Hurtado (INTRODUCTION to micro finance and microcredit lending)
⇾ Core research (answer questions in google docs + information about microcredit lending in Peru)

April 2 (Wednesday)
Gisella + Andrea
During School:
⇾ We do not come to school
⇾Interview @Banco Financiero at 8:30 am with Guillermo (Gerente de Desarrollo de Negocios) and Paul (Gerencia Central de Banca Minorial)

April 3 (Thursday)
Gisella + Andrea
During School:
⇾ 8:30 a.m - 11:00 a.m: Visit to two microcredit clients of Banco Financiero @Santa Anita (meeting point Banco Financiero at 8:30 am)
11:20- 3:20 p.m: Back to school
⇾ Work on the outline for the video
⇾ Look at footage and delete unnecessary and store important things for documentary

After School:
⇾ Finish with outline
⇾ Get ready for interview with Carlos Morante, Mi Banco CEO

April 4 (Friday)
During School:
11:40 a.m - 1:00 p.m
⇾Meeting with Carlos Morante, Mi Banco CEO

April 7 (Monday)
Gisella is gone to Spain
Andrea
During school:
⇾ Download footage
⇾ Learn how to use Final Cut Pro or review how to use Premiere
⇾ Organize notes from interviews
⇾ Do more research

Gisella
In Spain:
⇾ Do more research
⇾ Select footage for our documentary

April 10 (Thursday)
Gisella is gone to Spain
Andrea:
During School:
⇾ Interview?

Gisella
In Spain:
⇾ Do more research
⇾ Select footage for our documentary

April 14 (Monday)

April 17 (Thursday)

April 21 (Monday)

April 24 (Thursday)

April 28 (Monday)

May 1 (Thursday)

May 5 (Monday)

May 8 (Thursday)- DUE DATE

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#DOCUMENTARYUPDATE

﻿﻿PURPOSE﻿ ✏

SYNTHESIZING RESEARCH

DOCUMENTARY = my biggest CHALLENGE

﻿﻿☞☞DIVIDING ROLES & CONQUERING﻿﻿☜☜﻿﻿

💵📈NAKED ECONOMICS📈💵

✎INTERVIEWS with MICROCREDIT lending experts

Planet of the Kids

PRODUCTIVITY

PRODUCTIVITY it is everything. It is essential for an economy to be able to turn more in less time.

DOCUMENTARY

OUTLINE/SCRIPT⤸

INTERVIEW with Carlos Morante @MiBanco

﻿﻿11:﻿35 am﻿ @﻿﻿﻿Avenida José Domingo Orué 165, Surquillo 15047

A step to A C T I O N

DEFINING the question ⟹ Before even starting the reserch, looking for the contacts or even planning anything BACKGROUND knowledge is essential. Not only to understand this topic better or formulate a question but to really evaluate whether or not this was something I was PASSIONATE about.

This is the question we (Gisella and I) came up with:﻿How effective is ﻿microcredit﻿ lending in Lima?﻿

BASIC/BACKGROUND research about Microcredit ⟹

NETWORKI﻿NG with professionals ⟹

Esteban Hurtado

Carlos Morante

✎INTERVIEWS✎

﻿PLANNING﻿ the project ⟹

Archives

Categories

PURPOSE ✏

☞☞DIVIDING ROLES & CONQUERING☜☜

PRODUCTIVITY
it is everything. It is essential for an economy
to be able to turn more in less time.

11:35 am
@Avenida José Domingo Orué 165, Surquillo 15047

DEFINING the question ⟹
Before even starting the reserch, looking for the contacts or even planning anything BACKGROUND knowledge is essential. Not only to understand this topic better or formulate a question but to really evaluate whether or not this was something I was PASSIONATE about.

This is the question we (Gisella and I) came up with:
How effective is microcredit lending in Lima?

NETWORKING with professionals ⟹

PLANNING the project ⟹