The rules of our economy have shifted.

Economics says value or output arise from four factors - land, labour capital and enterprise.

As technology progresses, the mix of these four factors shifts wildly.

During the Agricultural Age, wealth was largely dependant on how much land you had. Very little skilled labour was required in the economy. Small amounts of capital could be put to use and a small number of enterprising people could participate in small cottage industries. The dominant system was feudalism and wealth mostly stayed within a family linage. There was almost no economic mobility and wealth was massively unequal. Technology breakthroughs such as steam, steal and the production line ushered in a new era - the Industrial Age.

Wealth was largely dependant on how much capital (money to buy machinery and materials for a factory) you could access. The small number of enterprising people who could set up and run factories, became very wealthy.

Capital gave access to the means of production, the means of production attracted labour. Skilled labour was in short supply so the schooling system was created to create more skilled labour. Capital created more and more innovations and more and more labour was required, this resulted in the emergent middle-class. The dominant system was capitalism.

Suddenly wealth was moving around much faster, people's economic lives could change and wealth became more equal for a time.

Made.com was just acquired by Next for £3.4M - down from £770M last year. Why did it’s value crash?

Made.com wanted people to believe it was a tech company when it was actually a retail furniture business. Here’s how to identify a tech company: People seem to be easily deceived on what makes a tech company fundamentally worth a lot more.

Here’s a list of 4 things that make a tech company special:

1. It sells access to algorithms it develops once and can sell an infinite amount of times at almost no additional cost.

Realistically who are “the rich” that we think should pay 45% income tax?

Let me start with who it’s not… it’s not the very wealthy. The Sunday Times has a “Rich List” and also a “High Tax Paying List” and guess what - no many names are on both lists.

So who are they? The top 1% of tax payers will pay close to 30% of total income tax.

They are typically …
- Dentists /Doctors
- Senior IT workers
- Accountants / Lawyers
- Pilots / Engineers
- Executives / Senior Managers

There are people trying to convince you that:
- you have to maintain work-life balance or you'll experience "trauma" (not making this up)
- working long hours is the worst thing you could do
- it's unnatural to want to work
- you can become highly productive by working a lot less ESPECIALLY FOR YOUNG PEOPLE... this is nonsense spouted by people who've probably had sheltered lives

1. Achieving anything great takes discomfort, effort, commitment and determination. Discomfort precedes victory. Putting in the time, more often than not, pays off.

How to build and embed growth culture like a pro:

1. Establish vision, mission, values, and maxims
Use these as your north star for decision-making. 2. Quarterly alignment meetings
Get everyone together every 90 days to set goals and accountabilities. Pick some big problems to discuss and solve.

The next 100 years will not be like the last 100 years.

Here’s why: 1920 vs 2020

Fertility dropped from 3.5 births per woman to ~1.8 in most countries. The trends show this is still dropping. We are moving from a world with lots of kids to lots of retirees.

7 Counterintuitive Ideas for Early-Stage, Fast-Growth Businesses (that sound wrong).🧵 1. Getting good at spending is more important than saving money.

Rather than looking for ways to save money, I want to spend more on marketing, promotions, product development & team -not less. I’m looking at every possible way to responsibly deploy cash to drive revenue up.

In the last 2.5 years, my side hustle has become a $15M business.

I’ve never worked in the business. Here’s step by step how it happened. 🧵 1. Concept
In my main biz @dentglobal we generated our best leads with an online quiz. It generated 90,000 leads in 5 years. People asked me about it and how they could get one. We built a few then started exploring a platform that could scale.