I wonder whethr ESG morphs into a structural understanding that a dramatically more volatile world needs more sustainability and redundancy. But the problem is I'm not sure public markets (or PE takeouts) respect that time horizon. I have no idea how to square it, other than a patient shareholder base or private ownership.
That's one place where governments need to play a role. question is, how can we make them effective at that, because they sure haven't been that great..
Because if public markets can't think long term even with 0% interest rates, they probably never will. Well, that' unfair, public markets are better than some give them credit for (they've been very patient with Amazon, Tesla, etc), but they have huge blind spots and some things just don't have good pricing mechanisms 🤔
Interesting idea via Matthew Crawford that the US obsession with freedom has allowed corporations predicated to subtly restrict our basic cognitive freedom of attention. Something China seems to have clocked before we did....
I agree it's not that simple. But thought experiment:
The order of the priorities in the stack matter, so if they had to make a choice that would increase that but lower their ability to hold power, I think they will always pick power first above all else. Even if it makes them act 180 degree away from past stated goals/beliefs.
Really good, Tom. Thanks for sharing.
Praise from you makes me uncomfortable, please revert to sarcasm, thank you. (Also thank you).
Now that can be accomplished, you arsehole.
Redundancy is never efficient, but it's often very wise!
Or maybe there's a push-pull between short-term efficient and long-term effective 🤔
I wonder whethr ESG morphs into a structural understanding that a dramatically more volatile world needs more sustainability and redundancy. But the problem is I'm not sure public markets (or PE takeouts) respect that time horizon. I have no idea how to square it, other than a patient shareholder base or private ownership.
That's one place where governments need to play a role. question is, how can we make them effective at that, because they sure haven't been that great..
Because if public markets can't think long term even with 0% interest rates, they probably never will. Well, that' unfair, public markets are better than some give them credit for (they've been very patient with Amazon, Tesla, etc), but they have huge blind spots and some things just don't have good pricing mechanisms 🤔
Interesting idea via Matthew Crawford that the US obsession with freedom has allowed corporations predicated to subtly restrict our basic cognitive freedom of attention. Something China seems to have clocked before we did....
Not sure if China's govt cares about that. They're just trying to hold onto power and reduce the power of any potential competitor for power.
Both/And.
I think about this article A LOT. NS Lyons is incredible. https://www.palladiummag.com/2021/10/11/the-triumph-and-terror-of-wang-huning/
I agree it's not that simple. But thought experiment:
The order of the priorities in the stack matter, so if they had to make a choice that would increase that but lower their ability to hold power, I think they will always pick power first above all else. Even if it makes them act 180 degree away from past stated goals/beliefs.