My First Startup!
Reflecting on E-Waste Management on Earth Day!
A while back, after many years in the financial services industry on Wall Street, I had decided to step away to try and establish a startup. I am very passionate about the environment and having spent a lot of time studying and researching, and knowing some industry folks in the area, I had decided that it was a good idea to explore the demand for e-waste management. I started a company “New E-World” in 2008. The 2+ years that followed were interesting and educational.
It demanded a lot of time, travel and ideation as e-waste management was still new. I learned a lot about e-waste, waste management in general, the various agencies and organizations involved, the processes, laws and regulations, the economics and engagements needed.
What I got out of it:
1. Awareness: I became aware of e -waste, its impact on the environment, the ecosystem, the planet and us as humans.
2. Understanding: I took a deep dive into the world of e-waste and waste management, got an understanding of the complexities and nuances, supply chains, logistics, stakeholders involved (includes municipalities, local and international government agencies, transportation, labor unions, real estate, the list goes on), the rules that existed, the rules that did not exist and the risks it created, the costs associated, and much more.
3. Business Knowledge: I learned how to create a business plan, legal requirements and other knowledge required to establish a business that I used to help establish a non-profit organization and use it in other areas of my professional and volunteer engagements.
4. Nuances of Data Management: It involved tapping into my skillset as a data professional to safely dispose of assets and an opportunity to deep dive into the world of data destruction.
5. Securing Funding: Developing an investor pitch.
6. Risk Assessment and Management: Understanding all factors influencing risks and managing the risks.
…And much more…
Some other interesting learnings that are relevant today that we can look at on Earth Day:
62 M tons of e-waste generated globally per year (2022) stats. Increasing and projected to be around 82 M tons annually by 2030 (30% increase) — likely to be more.
E-waste management involves reduction in use, reuse of components where they can be reused and recycling along with disposal.
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Recycling includes:
Metals that can be extracted from e-waste:
Precious metals: gold, silver and palladium, etc.
Rare earth metals: neodymium, yttrium, etc.
Other common metals: Copper, aluminum, tin, etc.
Plastics:
PC chassis
Printer housing, cartridges, etc.
Monitor chassis, stands, etc.
Disposal:
Toxic heavy metal: Lead, mercury, cadmium, etc. (Hazardous waste management)
Waste that cannot be recycled: including plastics, cable and wire insulation
Data: Involves secure data destruction — rendering hard drives incapable by drilling, smashing, heating or degaussing
It was an interesting experience that greatly increased both my knowledge and perspective, and “Earth Day” brought back some of those memories. The industry has evolved since. Significant automations, AI and robot use in the processes and modern equipment has both increased efficiency and brought in new challenges. Due to the introduction of new products, the processes have to constantly adapt, and the increase in volume with more and more consumers using electronics in various forms including everyday items such as light bulbs require more nuanced e-waste handling.
There are organizations that are engaged in all these activities and provide these services — ERI (website: https://eridirect.com) is one of the organizations involved at a large scale in this.
If you want to chat more about this topic or topics on data management, I am happy to do so as I am passionate about it.
I provide data management and data strategy services that help organizations strengthen governance, improve data quality, and ensure safe, compliant data disposal and deletion. If you’re exploring ways to elevate your data capabilities, feel free to connect with me.(website: https://ercdas.com)
Happy Earth Day!
