From 600+ conversations with the world’s leading thinkers.
The best analogy I can give for an IPO is that it's like a wedding. There's a whole lot of attention directed toward the wedding, and less toward the 20 years of marriage after the wedding. IPO has the word initial in it, it's the starting line for being a public company.
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
I think the biggest risk is the situation with the EMU as I have explained. I can see that this has the potential to derail the world economy in the same way the 2008 credit crisis did.
Around the world you've got somewhere between 1 and 2 billion people who are living in abject poverty. Economic growth offers the opportunity to reduce that 1 or 2 billion to 100,000–200,000 in the next phase.
Our mission is to expand the economic sphere of influence of humanity off the surface of the planet and into the solar system. Currently we have a vibrant economy in space that goes out to the geostationary belt- where the communication satellites are- and it stops.
The high debt ratios also masked the zombie households, zombie corporates, zombie businesses, zombie banks, zombie shadow banks, zombie governments and zombie countries. They never went bankrupt.
Over 70% of the labour force in sub-Saharan Africa is involved in agriculture. This means the sector forms a lynch-pin of society.
Changing the mood has an economic impact superior to many measures because companies and families, when they have more confidence, they act differently.
Our system has never defined what it means to be 'good' – what is the ideal human being in capitalism? Is it Jeff Bezos? Is it Steve Jobs? They thrived, they profited, are they 'moral'? Even though they exploit the labour of millions of people?
We waste 75% of the energy we produce, half the food we produce and half of our natural resources. So much of our waste is waste because people don't understand that it's a resource that can be used!
These individuals are looking for a global liquid multi-asset portfolio that is highly correlated around risk management strategies. They don't want you taking risk! they're going to do that.. and they can do it better than you can because they're now worth hundreds of millions or billions!
We run the very real risk now, not of going back to the 1970s, but of going back to the 1930s or 40s with economic and financial collapse, massive pandemic, and real-world wars.