Commencement Address UVM School of Business

May 20, 2007

By
David J. Perez Class of 1981

Good Afternoon. Its an honor for me to share this moment with

everyone here today. Thank you Dean Dewitt for inviting me to
speak.

To be honest, I couldn’t quite believe it when I received the Dean’s

call. I sent her back a note saying I’m honored to accept but, why
me? You are all probably having a similar thought why him? Who is
this guy? Is he a member of congress, celebrity or captain of industry.
What does he have to say? Has he ever given a commencement
address before?
The answer is no to each of those.

Rocki gave me an assignment to share some wisdom and inspire

you. Hopefully by the end of this speech you will see why I was
chosen.

Congratulations to everyone here who’s energy has made this day

possible. Faculty and Staff, way to go, you made it through another
year, Mom and Dad, you must be so proud, relieved and broke;
graduates, soak it all in, that feeling of accomplishment savor it,
because starting tomorrow its back to square one! Congratulations
again, you all accomplished this great milestone together. Enjoy the
moment!

Being here today takes me back to another century, the 20th century,
1981 to be exact. I was in the audience like you, about to graduate
groovy UV. Sitting in Patrick Gym I could still smell the sweet aroma
of the Grateful Dead show from the night before.

As I sat in my cap and gown, I felt exctied to be done with school,

ready to crack open the champagne under my gown and completely

© Copyright David J. Perez 2007

clueless about my future. Perhaps some of you feel the same way.
What do I do now?

I truly had no clue what I was going to do for my career. I had so

many different interests, the desire to make something of myself but
no idea how or what.

What was I going to Be? How was I going to get There?

Like There was a place to get to. Little did I know.

As I reflect back now to the stress of being a graduate I wish

someone had told me what I’m about to share with you. Perhaps
sommebody did but I couldn’t hear it at the time. There is no There
to get to, only a journey to take. A series of chapters to write and
paths to explore.

So here’s a bit of my journey.

Two weeks after commencement I was on a plane to Cochabamba,

Bolivia to live with my Father’s relatives, learn Spanish and travel. I
wanted to dig and find my roots. I knew the success my dad had
achieved, but didn’t understand what he had to overcome to
accomplish it.

As a poor kid growing up in Bolivia my Father dreamed of a better life

by coming to the United States. He made that dream a reality in 1950
when he arrived in Passaic, New Jersey with a medical degree and a
suitcase full of ambition, energy and determination, to, as he used to
say, “make something of himself”. He sure did make something of
himself, becoming a successful surgeon, marrying a beautiful nurse,
raising 3 sons and travelling the world. My father came a long way
from being the son of a poor Quechan Indian woman to becoming a
doctor in America.

Now what would I do? I was a previledged, some might say spolied,
doctor’s kid from Jersey. What could I do to equal the acheivement of
my Dad. When I asked him for direction or advice he would only say,
“do what you love and be the best”. That was his mantra, his secret of
success.

© Copyright David J. Perez 2007

It took me many years to truly find what I loved. I keep looking, often
without success. One lesson my journey has taught me was to learn
by the process of exploration.

After 6 months in Bolivia and travelling around South America I ended

up in Washington DC working for a US government agency. I’ll never
forget my first salary, $18,000. Wow, was I living large. After a few
months I knew I wasn’t destined to be a government worker so that
job didn’t last very long.

A year later, my minor at UVM has been put to full use skiing chest
deep powder in Kitzbuel Austria! Washing pots and pans at night,
teaching tourists how to snowplow during the day. The glorious life of
a ski bum.

After a year of exploring Europe, I was broke and ready to start the
next chapter so I came home, with literally 5 deutsch marks in my
pocket. Now what?

Back to Burlington of course! Without any idea of what to do I

eventually found myself interviewing for a job as a stock broker. I
ended up winning 1 of 2 trainee spots at the Dean Witter Reynolds in
Burlington. I found something I could excell in. I loved the fact that I
controlled my own destiny and determined what I got paid. But after
awhile I tired of talking about earnings per share and PE ratios.

As my Mom, who is here today and always supported me in my

journey, would say “ David, you get bored when you’re not
challenged.” You know, she’s right.

So the search was on for the next challenge. What now? Selling
stock and bonds just wasn’t creative or stimulating enough. It was
time to pursue my creative passion, photography.

January 1989, I’m back on a plane , this time a one way ticket to
Hong Kong to see some good friends from UVM explore Asia and
build my photography portfolio.

© Copyright David J. Perez 2007

Koh Samui, Bangkok, Sumatra, Bali, Berlin, and Copenhagen, all the
way around the world. By the time I got home 9 months later I had
shot 1000 rolls of film and was desperately in love with a Swedish
girl.

The Swedish girl quickly proceeded to blow me off and break my

heart. But that’s another story.

My career as a photographer was very exciting but the opportunty of

the internet boom was too compelling to pass up.

I went to work for a series of small, privately owned companies where

I was exposed to business ownership. I wasn’t cut out to be an
employee, I wanted to be the boss, but it took me getting fired 3 times
to figure that out. It was then that I knew I needed to be the owner of
the company and control my own destiny. After recogizing this I
began searching for a new direction.

Now its early 1999, I’m 40. I feel adrift professionally, unfulfilled,
insecure about my future and frustrated working for the man. Married
and about to start a family. No wonder I had an ulcer and was in
therapy.

So I went to work on a plan to start my own business. By September

my wife Nicole is 6 months pregnant with our daughter Martine I quit
my job and start my first company, Lumina Americas. An incubator for
Hispanic focused internet startups in the US and Latin America. I
raised $25 million of venture money and was off to the races. My
timing was perfect, riding a surfboard on the Internet wave! Six
months later looking over my shoulder the wave crashes on my
head. The stock market collapses, dot coms go bust and then 9/11
happens. Back to square one again.

Determined to keep the dream of my own business alive I rebuild.

Out of the ashes of Lumina I emerge and start a new company, Latin
Force, still focused on the US Hispanic market, but doing business
and marketing strategy.

© Copyright David J. Perez 2007

Today, I’m having the time of my life, and never been happier. I have
a wonderful, healthy family. A thriving business in the exciting and
fast growing Hispanic market.

So that’s my story.

The advice I have to share with you, graduates is to explore the world
and in turn explore yourself. Leave this country and hear, feel, smell
how the rest of the world lives. Continue your education in the streets
and villages of Latin America, Asia, Africa and Eurpoe. We live in a
global economy where understanding different cultures and
languages is a personal competitive advantage.

Create your own definitions of success. Its not what my parents or

your parents knew. We need to be flexible. Embrace change. The
world today is so dynamic that you have to morph your self many
times over the course of your lives. Don’t be afraid to reinvent
yourself to seek out opportunity. Don’t do what you think you should
do. Follow your heart. The key is to know your abilites and inner
qualitys this will make you a success at what ever you choose.

Make time for your self, for your family and community.

Feed your soul.

Don’t be afraid to try and fail; find your inspiration whatever that
inspiration is; starting your own business, saving the world,
government service, or a corporate career.

Nuture your inspiration and fuel it with determination, humor, passion

and commitment. The determination to be the best you can be, the
humor to laugh and enjoy the journey, the passion to make a
differerence and the commitment to be true to yourself.

I’m 48 years old and I’ve been a government bureacrat, ski bum,
stock broker, photographer, dot commer and now I’m a multiculural
marketing entreprenuer/ private equity guy. My wife probably has an
ulcer from all of my career changes, I however am excited to find out
what’s next.

© Copyright David J. Perez 2007

In today’s economy we all have to be entreprenuers. And when I say
entreprenuer you don’t have to be the person to start the next
Google. Doctors, educators and corporate executives all need to be
entreprenuers. We live in a world where its important to be a creative
leader no matter what your field.

Every era has its waves of opportunity. The 90s was the Internet.
Today the environment, sustanable resource develoment,
philanthropy are a few that come to mind. Another that I feel qualified
to discuss is the exciting and fast growing field of multicultural
marketing.

The US Census announced this week the latest population growth

figures. So-called minorities now constitute one third of the US
population, 100 million people. The demographic changes occuring
today are and will continue to have profound impact on popular
culture, business, politics, public policy, education, every aspect of
our society.

Latinos are the engine of economic growth in America today

accounting for the fastest growing segment of population and
purchasing power. So if one is selling cars, clothes, mortgages, flat
screen TVs or anything else, growth will come from Latino
consumers.

I’ve built my business on being at the forefront of understanding the

changes a multicultural America will bring and finding the
opportunities that lie therein. Goldman Sachs is investing with me in
this fast growing future. So I invite you to consider a career in this
burgeoning field. There are many opportunities and we need all of the
help we can get.

So in closing…

The University of Vermont has prepared you well to go out in the

world. A world with so many exicting opportunitues that are in need of
fresh, creative, responsbile leadership. You graduates, are our new
leaders. It will be you who will find the solutions to the challenges we
face today. Perhaps in 26 years it will be one of you standing here
giving the commencment address in 2033. Think about that!

© Copyright David J. Perez 2007

There is an expression in Spanish that roughly translated says “Once
you start down the path you will find your way.”

Remember, focus on the journey, savor the paths you take, the stops
you make and the chapters you write.

Find what you love, be the best you can be and enjoy the ride. It
goes fast.

Thank you and good luck.

© Copyright David J. Perez 2007