From 600+ conversations with the world’s leading thinkers.
It's baffling that $1.8 trillion is still being invested in harmful sectors. As a member of the B-Team of business leaders, we've identified that $1.8 trillion a year is spent subsidizing industries that harm us, predominantly fossil fuels. Redirecting a significant portion of these funds could dramatically accelerate our transition.
I would not have believed anyone if they had told me that within eighteen months I would have lost 99 per cent of my $4 billion fortune and would be pursued almost to the brink of bankruptcy by seven major banks… I would have found it impossible to contemplate that I would be treated like a pariah in my home country, saddled with $1 billion in debts and hated as a man who had supposedly almost single-handedly brought down an economy. But that is exactly what happened…
Central banks all around the world have essentially abused the power of printing money, and they have abused it by using quantitative easing, meaning creating new federal money to kit over fundamental problems, structural problems in the economy. So much of that acceleration in the wealth inequality has come from this quantitative easing.
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.
We have open and transparent pricing through our futures exchange- that means price is determined by buyers and sellers and not an 'official' selling price set by a producer.
Measuring wellbeing solves two big problems: it tells us what truly matters (not just income or health metrics), and it lets us compare different types of charities—poverty relief, education, the arts—by how much happiness they generate. We move from vibes‑based giving to data‑driven giving.
Over this 99.9% of human existence, when technology advances, population advances and counterbalances any potential increase in human prosperity. Suddenly once technological progress reaches a tipping point, families start to invest in education, they economise on the number of children, and technological progress is converted into richer people rather than into more people.
The neo-liberal capitalist mindset has also been a huge contributor to loneliness. Since the 1980s, alongside Margaret Thatcher and Ronald Reagan, a new form of economics came to the fore which enshrined the pursuit of self-interest over the pursuit of collective good. That generated the mindset we see today- me first, dog-eat-dog, greed is good… that inevitably begets a world where people feel less connected to each-other, more atomised, and many ended up feeling marginalised and unseen.
It might feel—if you haven't yet learned the rules of these hidden markets—that the outcomes are based on luck, chance, or things beyond your control, but you actually have a lot more agency in them than you think.
The reality is we live in a very dynamic world that's full of risks and all we should really care about are risk drivers – both financial and non-financial. Alternatives may provide us with ways of hedging out or managing future risks better.
Without the existence of Europe, smaller countries like mine [Estonia] would have a difficult time to survive economically or even from a defence perspective. The internal European market is absolutely vital for the functioning of the very different economies of the continent.
One of the things which is a really distinguishing factor about our markets in contrast to the OTC derivative market is that we're completely open, competitive and transparent with a very high degree of participation, a very high turnover, and a high degree of pre and post trade price transparency. That refers back to that old phrase of 'liquidity begets liquidity'.