
US Coast Guard nabs 16 Mexican immigrants crammed aboard sailboat off the California coast
The US Coast Guard intercepted a 25-foot sailboat crammed with 16 illegal Mexican immigrants off the coast of California on Saturday and turned them over to the border patrol, the agency said.
The crowded boat was spotted by a Coast Guard Lockheed C-130 Hercules airplane about 54 miles off the shore of Point Lima near San Diego, with a cutter then dispatched to intercept the craft, the Coast Guard said in a press release on Sunday.
3 The Coast Guard intercepted this sailboat about 54 miles off the coast of Point Loma, California.
USCG
3 A sailboat stopped off the California shoreline was packed with 16 Mexican immigrants, officials said..
USCG
The cutter Petrel then stopped the boat and took the immigrants into custody, the agency said.
They said all of the migrants on board claimed they were Mexican nationals.
The Coast Guard has stepped up efforts to intercept and transport migrants since President Donald Trump took office this year with a promise to deport illegal immigrants in the US.
3 The Saturday Coast Guard operation is the latest in a stepped up effort to stop immigrants trying to reach the US.
USCG
Earlier this month, another crew stopped a 'panga-style' boat loaded with Russian nationals and migrants from the Dominican Republic about 3 miles off the coast of Puerto Rico.
In February, a Coast Guard cutter intercepted an 'overloaded' 30-foot sailboat boat packed with 132 Haitian migrants about 50 miles off the Florida coastline including women and children.
In one of the largest high-seas intercept, more than 300 migrants from Haiti were stopped near the Bahamas trying to reach US soil and were returned back home in June of last year.
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Number one is the corporation has a problem in their own business that they don't know how to solve, and their choices include building something internally that may not be what they're good at or what they do. You can build an external venture if other people have the same problem. An incentivized entrepreneur can go solve that problem probably a lot faster than you can internally. Number two is your customers have a problem, and if that problem were solved, they'd be better customers for you. Maybe that's not a problem that's strategically critical to your business, and you wish somebody else would solve it, but nobody is. In that case, you might want to build a new venture outside the organization. Number three is that strong corporations exist in strong ecosystems. 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Venture building is fantastic for learning and for developing strategic optionality. It is not a good way to augment revenue, at least not in the near term. If you're running a $10 billion corporation, it's a lot easier to go to $11 billion inside the core organization by incremental improvements, entering new geographies, product expansion, than to go from zero to $1 billion in a new venture. A lot of the mistakes that corporations make when they think about venture building is [it] can be a path to help close our revenue gap or something like that. Absolutely not. It's probably the worst way I can think of to close a revenue gap if you're a big company. But what it can do is produce knowledge about how the world works, how our industry works, how it's changing, what our customers want. That knowledge can then go back into the core business and make it easier to go from $10 billion to $11 billion. If a CFO can get an agreement with that premise—the primary focus of this is learning and optionality as the output—they're more willing to explore building these ventures without requiring control. This is where companies also make the mistake. They go launch these things and they own the majority of them. There are some instances where that makes sense, but if it's something that's strategically interesting—not strategically critical—where you're trying to learn or solve some of those other issues we talked about, launching that business externally with a minority stake, at least in the beginning, is going to produce a lot more learning and a lot more optionality down the road. We tell corporations to take a minority stake in the business because if you own most of it, that new venture is going to be strategically and financially constrained. It's going to look a lot like what you already do because if you own more than 50%, then you're going to require it to use your HR systems, and your internal lawyers are going to have to review things. And pretty soon it looks a lot like your existing business, which defeats the purpose. Similarly, if you own the majority, nobody else is ever going to want to invest in that. If you do it right as a CFO, this is a way to fund innovation with your balance sheet, rather than as an operating expense. It caps the investment. A lot of times, internal innovation is like a bottomless pit. We start this thing and are you going to come back to me wanting more money? With an external venture, you launch it and you say, I'm going to invest X dollars in it, and that thing has to thrive on its own by going out and figuring out a way to run profitably or attract other investors. You have the right to invest more [and] take control down the road, but only if it makes sense to do so. What you're trying to do is optimize for surprises, and you do that by putting these things out in the world, incentivizing entrepreneurs who are very capable, and seeing what they figure out. Right now is uncertain times for businesses. How does venture building fit into how a company can strategize? Is it a good thing to do right now? I think a lot of companies are making a mistake right now. They're sitting back and trying to see how things play out. But as industries get reshuffled amid all the uncertainty, new winners are going to be defined, and now is the time to be making bets. In the face of an unknowable future, the very best strategy is to go run as many experiments as you can at the lowest possible cost per experiment. Venture building is a fantastic experiment engine because in the world of business, startups are the way that we run experiments as a society and as an industry. Startups are experiment engines. There is tremendous risk to the core, and you do not want to take on that risk. A good way to mitigate that risk is to launch some of these experiments externally, in the form of outside ventures. You still learn, you're not distracting the core business, you're not taking peoples' eye off the ball, and you're not presenting new risk. This is especially true in heavily regulated industries, where venture building can be a powerful tool. If you aren't thoughtful about cost cutting, it can help you meet your financial goals in the short term, but cause problems in the long run. Here's some advice to optimize your costs and lead to more lasting results. Companies often put significant effort into crafting their strategies, but employees don't always buy-in as deeply as executives. A recent study found that only 15% of employees fully grasp the rationale behind corporate strategies, which could explain their lack of enthusiasm. 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