If you look at the decade which ended in 2009, our estimate is around US$8 trillion. As previously mentioned, we believe this is a very conservative estimate because there are major parts of illicit flows that are not included in that figure.
— Raymond BakerYou couldn't design a situation more hostile to human learning than a typical school. We learn not to be creative, because everything is about turning us into good factory workers. That's why these systems were created: to make us into factory workers who produce more stuff, more money, more stuff, more money.
Most studies today show that our political leaning is at least 50 per cent genetic in origin — genetics is as important, if not more important, to how you vote than your cultural context, your economic context, and all the evidence you engage with in the world.
There are a lot of people who misuse social media and then they pay the price for it. These individuals and groups are hunting for people to make mistakes, take embarrassing videos and show the world.
I think it's always good to find a film which is a question and an answer. It's hard to do – and often, when you've already decided the answer before you make the film, you'll find the film is less successful. In a funny way- if you can frame your question accurately as something that you don't know the answer to- and use the film as a way of finding the answer- you'll get a more complex and engaging film.
I often have odd conversations where people say, 'Should we take happiness seriously?' And I pause and ask, 'How do you feel about misery and suffering—are those not bad? Do they not matter at all?' Then they admit, 'Oh yeah'. I then ask 'so, don't you think it's good if people enjoy their lives?' And they say, 'I suppose so.' So, everyone agrees happiness matters to some extent – but we often forget this and need to bring it to the surface.
There's a joke within Facebook that if you want to know which countries will have a genocide in the next couple of years, look at the ones that have Facebook free basics.
Once you have transparency on impact, why would you tax all companies for the damage caused by some? You would tax the ones who create the damage. I hope we therefore shift to a fairer taxation system that improves the position of governments.
Bubbles are driven by people piling into ideas now, that they think will make them lots and lots of money in the future. The more people that pile in, the more quickly innovation can spread... But if the capital is misallocated? then when the money meets common sense, you get a bust.
No one wakes up eager to write because it often reveals your shortcomings. It's like staring at your face in a mirror for two hours—after a few minutes, all you see are flaws. Discipline sees me through those self-doubts.
We define the credit risk of a bond portfolio as the volatility of the CDS basket which would perfectly hedge the sovereign risk of the portfolio.
Ultimately, we want to make it unnecessary to be a B Corp – we want it to be just the norm of how all businesses are run, but that means we have to change the rules of the game and the role of business in society.
I can't think of the last time I read a book that was more fascinating, and useful and enjoyable all at the same time