From 600+ conversations with the world’s leading thinkers.
The public markets have slowly but surely become hostile to the small growth companies. Where the public markets used to serve any type of company, they are now only beneficial to companies in excess of a $1 billion market-cap. Sub $1 billion companies really don't have a place to turn for funding, growth and liquidity.
When I have a bad day, that has nothing to do with the market! But how I respond to that bad day may be a reflection of a general level of discomfort about how the economy is doing and so forth. It's an out-of-bounds signal. In that sense, it's pretty unique!
From the data I've collected, about 2% of humanity is qualified to be an entrepreneur. If we got to a point where the full 2% pursued entrepreneurship as a viable way to live their lives? The amount of problems we would solve in human-society would be astounding.
...in the long-term, random investment strategies provide gains comparable to those seen where technical strategies are applied.
I typically think impact investing, on the whole, can generate better risk-adjusted yields than the alternatives.
We are living longer and measuring GDP growth is not the way to decide whether a society or an economy are flourishing.
The Chinese government has realised that to fuel capitalism, an atheistic, communistic, civil-religion will never propel growth. They realise that their system, frankly, will not support the growth or creativity to create the new technologies and companies that are necessary.
A speculative bubble exists when the price of something does not equal its market fundamentals for some period of time for reasons other than random shocks. [Fundamental] is usually argued to be a long-run equilibrium consistent with a general equilibrium
When your business becomes a unicorn and heads for the stratosphere, there's a temptation to slide into the primary activity of the business being turning capital, and so customer focus can get lost. Once you stop putting customer first, the competition will destroy you.
It's definitely affected the psychology of the marketplace. It could not have come at a worse time. We have to deal with this expeditiously and make the system more robust to these kind of issues.
Where decent jobs are scarce, women can achieve financial independence by becoming job creators rather than job seekers – providing, of course, that they have the right support and opportunities to do so.
Crime, for those living in poverty, can become a business. Much like any other capitalist enterprise, their business further exacerbates inequality in society. The poor feel aggrieved by inequality - they exist in a world where they are disproportionately unrewarded for their input into the economy.