"There is a big difference between getting rich and solving a real problem in society. The promise of capitalism is that these two ideas will overlap in a meaningful way.
Entrepreneurs take immense risk to identify a problem, design a novel solution, implement their product or service, and receive a financial reward for improving the lives of other people or companies."
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As usual, there's no mention of labor, like Nike's use of Uyghur forced labor or Tesla Shanghai workers forced to work 11 1/2 hours a days, 6 days a week. It's "entrepreneurs who take immense risks," as if labor sacrificing their lives to eat and pay rent isn't the ultimate risk.
In a recent scandal of crony-capitalist problem solving, where maximizing profits undermines the health and well being of the masses, tampons, yes, that's right, tampons were found to contain lead, PFAS, plasticizers, phthalates, and volatile organic compounds. These entrepreneurs kill people but the dead don't have a voice, as with the recent Boeing disasters. CEOs buy innocence through lobbying Congress and there's never accountability.
Love this Anthony! Thanks for your insights! When discussing "value created vs value captured" I always add the question "for whom and at whose cost?". We have systems to create immense value for a small number of people, but not systems to distribute that value equitably to society's larger benefit. Long discussion for another day :-)
"There is a big difference between getting rich and solving a real problem in society. The promise of capitalism is that these two ideas will overlap in a meaningful way.
Entrepreneurs take immense risk to identify a problem, design a novel solution, implement their product or service, and receive a financial reward for improving the lives of other people or companies."
_____________________________
As usual, there's no mention of labor, like Nike's use of Uyghur forced labor or Tesla Shanghai workers forced to work 11 1/2 hours a days, 6 days a week. It's "entrepreneurs who take immense risks," as if labor sacrificing their lives to eat and pay rent isn't the ultimate risk.
In a recent scandal of crony-capitalist problem solving, where maximizing profits undermines the health and well being of the masses, tampons, yes, that's right, tampons were found to contain lead, PFAS, plasticizers, phthalates, and volatile organic compounds. These entrepreneurs kill people but the dead don't have a voice, as with the recent Boeing disasters. CEOs buy innocence through lobbying Congress and there's never accountability.
Great points.
Love this Anthony! Thanks for your insights! When discussing "value created vs value captured" I always add the question "for whom and at whose cost?". We have systems to create immense value for a small number of people, but not systems to distribute that value equitably to society's larger benefit. Long discussion for another day :-)
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