7 Heresies; Concentric Investor Day 2020

  • That race is simultaneously irrelevant, yet also the most important thing about you
  • That defunding the police will reduce crime rates
  • That those from certain ethnic backgrounds are actively discriminated against throughout society, for example in education. A point in particular disproved by data showing that the group which has the lowest chance of going to university in the UK is poor, white boys (see below graph from the FT).
  • Transportation is almost universally slower (including from one end of a city to another) whilst with the retirment of the Concorde, air travel has clearly gone backwards
  • Astonishingly, median male income in the US is lower now than it was in 1970! Despite rapid economic growth, the average working man is no better off than he was 50 years ago. Perhaps said economic growth was artificial, propped up by central banks and governments desperate for it and in the form is rising asset prices which benefit those with assets already. The rich.
  • Our cultural elite are out of ideas or at least abide by a narrow range of conventions. Hollywood is content to churn out endless sequels with the same tired tropes. The most optimistic and exciting sci-fi these days comes from China. Not to be outdone, our architectural elite produce buildings that look same the world over. An aspirational office, restaurant or home interior in Delhi looks the same as does in London. Architecture has a bland and monotonous ubiquity the world over
  • We further resist change through increasing regulatory complexity, empowering incumbents who have the ability to comply with it. For example, the US tax code is now 70,000 pages long
  • Finally, the most desirable credential for our elite class seems to be an MBA — a Masters of Business Administration. What sort of society looks up to business administration as it’s pinnacle? If you wanted a surer sign that we are a civilisation of managers and bureaucrats rather than innovators, this is it.
  • A riskless society
  • Government and privacy
  • Innovation for organisations becomes existential
  • New age institutions

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store