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School portraits / Entrepreneurial Leadership, spring 2024

Seattle Academy Gives Students $2. Legend Says One Got a Boat.

An entrepreneurship class in Seattle hands out two dollars and asks students to grow its value. The results range from gum to a record to a rumor.

Imagined treats, cash box and question-mark key.
Illustration

At Seattle Academy, the Entrepreneurial Leadership class begins with the $2 Challenge. The teacher hands each student two dollars in cash and asks them to grow its value however they see fit. There are two rules: no illegal activity, and no stock market.

The school's 2024 write-up then mentions, in passing, the story that keeps the class full. Legend has it that one student took the $2 and, through trades and exchanges, "ended up with a boat…but the jury is still out on that one."

I have had two dollars many times. I have never come close to a boat. The nearest I came was a paddle, at a garage sale, for three dollars, which is a loss.

The verified record is almost as good. One year, the teacher said, a student spent the two dollars on a gift card of unknown value. It was worth $32. She traded it to her brother for a pair of Eminem slippers, and then traded the slippers to her mother for a record.

That is three trades and a profit, and two of them were with family members, who are the hardest customers in the world. I can't sell my children a vegetable.

Then there were two sophomores in a class usually for juniors and seniors. On day one they traded with each other. One swapped her $2 for a pack of gum, split it, and sold each half for $2, and realized she had needed three trades to match what her partner had made in one. So they joined forces and held a bake sale, which, one of them said, "didn't go quite as planned." They made about $15.

With leftovers on their hands, they each found a second market. One sold the treats at a higher price to the parents of her volleyball teammates, who were, if my experience is any guide, sitting in a gym with nothing to eat. The bake sale hadn't worked, she said, but she was able to use "avenues and networks that were already established."

Avenues and networks. She means the bleachers. Every parent who has sat through a volleyball tournament knows the price of a brownie in the third set, and it is whatever the seller says.

What did she do with the profits? She put them toward an afternoon at an escape room with her closest friends. Two weeks of trading and baking, so she could pay to be locked in a room.

The teacher's closing advice to future students was to go out there and take action.

I took action. I went back to the garage sale and bought the paddle.

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Sources

The public records, school pages and published accounts this story draws on. Where the story imagines a scene or a line of dialogue, that is the column’s telling, not a quotation.

  1. Seattle Academy: Exploring Value: Insights from the $2 Challenge in Entrepreneurial Leadership seattleacademy.org
  2. Seattle Academy: Third Annual Business Competition seattleacademy.org
  3. Niche: Seattle Academy reviews niche.com