This is a very tough question because the correlation between growth and returns on assets in China has been completely non-existent. You have had this tremendous growth, with fairly lame returns for equity investors!
— Louis-Vincent Gave Founder of Gavekal Research & Investment StrategistSystems change is slow because it requires consensus that there is a system failure to start with, as well as the presence of a viable alternative. This requires a combination of culture shift, behavioral change, and structural change to ultimately change the rules of the game.
The team was a meritocracy in which performance alone was rewarded. As I got better and my team started winning championships for my school, my status as freakishly tall black kid became a badge of accomplishment and inclusion.
My approach is always to redirect their focus from this nebulous concept of confidence to the concrete tasks at hand. These are tasks they have successfully completed numerous times. Whether they feel confident or not is irrelevant; the real key is maintaining focus in the moment.
I personally think that it's only the ignorant and populism pandering politicians who treat the hedge fund industry as a scapegoat for the financial crisis. It was the extremely heavily regulated investment banks who, risking their shareholders' money, levered their firms up to 40:1!
Dubai offers a lot. We're currently at the Dubai International Financial Centre (DIFC). There's a separate jurisdictional regime in this area meaning that companies are treated under English common-law principles. It's a very safe environment for transactions to occur, and this gives us a big advantage of areas which simply do not have that framework.
The question as to whether we are alone has been asked by humans almost since they first crawled out of the cave! For millennia we used to ask the priests, philosophers or shaman- whoever we thought was wise- how to answer that question. They always came back with a belief system. What makes SETI different today is that instead of the verb 'to believe' we're trying to use the verb 'to explore'. We want to see what's actually out there instead of just believing what someone tells us is out there.
Quantum computing is thus not just a technological pursuit, but a deeply philosophical one, aiming to probe the very foundations of our world.
I genuinely don't care about scrutiny – it's a zero on a scale of 1 to 10 for me. If the table goes cold, I'll walk out of the casino. I'm good… I've got my nest-egg… I'm happy. I do this every day because I like it and want to accomplish my goals.
We don't necessarily hire the best CV, we hire the right CV. We try to hire the right people. If someone is 10/10 skills-fit, but doesn't seem interested in our long-term vision? I'd rather have the 8/10 candidate who's passionate about where we're going.
We've built two great contagion machines. Firstly, international travel which has enabled vast numbers of people to fly over great distances. Secondly, the internet – and in particular, the way the internet has evolved... it became a machine for disseminating contagious ideas.
Paying a negative interest rate on currency, or on electronic reserves at the central bank, may seem barbaric to some... But it is arguably no more barbaric than inflation, which similarly reduces the real purchasing power of currency.
Digital media has allowed a complete bypass of those structures – there's less control around power – and people can amass huge followings for totally irrational reasons.