From 600+ conversations with the world’s leading thinkers.
Our model is very much investing in media cash-flows. We don't take positions in quoted media stocks, as that introduces too much exposure to volatile equity markets- and media tends to get hammered more than other sectors when the markets have any degree of turbulence in them.
India boasts a robust workforce with nearly 5 million developers, a vast, young demographic, a burgeoning middle class, and a tech-enabled, English-speaking workforce. All these factors combine to offer what could be the opportunity of the decade for India.
In today's climate, and over the past 5-7 years, people have been building financial arbitrage machines not actual companies. Most people's behaviour is more predicated towards raising the next round of financing rather than building towards a profitable company. We're going to have a massive crash and 90% of the people will go back to working at Bank of America, Chase, GE and companies like that- and the people who are good enough will continue to build businesses.
We are unapologetically at the high-risk, low-return sweet-spot of agricultural finance. We choose to address geographies and sectors where there are real market failures or at least deep market imperfections.
Right now, is the absolute best time in human history to be a disruptor. The world is awash with cash chasing disruptive ideas and most companies have one (if not both) hands tied behind their back.
For the societies themselves, this activity drains hard currency reserves, heightens inflation, reduces tax collection, curtails government service and undermines investment. There is no good accomplished by this massive outflow of resources.
You may become rich, engage in philanthropy and help a million people but the only way you can help a billion people is by building a profitable business. If you can't make a profit, you can't help a billion people – so go make a profit!
If you're not careful, possessions can end up owning you. Eventually, the car became part of my identity; it represented who I was, which isn't healthy. I want everyone to become wealthy and experience this firsthand because once they do, they'll realize material possessions aren't fulfilling.
This isn't about shareholders becoming like Greenpeace but realising that return on investment requires you to understand your risks and that requires you to understand, and act on, your relationship with society.
During the twentieth century we saw consumption boom beyond the planets natural limits, beyond what the planet is capable of sustaining. Everything is connected, forest destruction is a major cause of global warming, climate change.
Part of the reason I'm arguing the time is right is because unlike back in the 60s when these ideas about complexity economics were first floated by people like Herbert Simon, we now have all the tools to do it. Computers are a billion times more powerful, the data is vastly better, our understanding of psychology is vastly better, we know a lot more about how to program models like this.
We are living longer and measuring GDP growth is not the way to decide whether a society or an economy are flourishing.