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“While communism and capitalism have been ostensibly battling for the last century or more, technology came along and ate everyone’s lunch.” —Chad Grills
Today’s episode dives into economics and the philosophies behind them. If you are signed up for our newsletter, you know that we recently introduced this topic and are using today’s episode to dive deeper. (Psssst if haven’t signed up for our newsletter yet, you can do so here!)
In the Mission Daily Newsletter, Chad asks “How high is high for our GDP?” Yes, it’s true that the U.S. has the highest GDP in the world but what could our GDP be? Are we preventing our own growth? And how can we ensure resources are spread to the right people and companies who are creating new jobs, generating wealth for more people and adding value?
Chad explains that we are at a time in our culture when “we need new ideas and new examples of people who have been excellent capital allocators — people that are experts at multiplying money and then returning that money to the people that gave them their initial investment.”
So, ask yourself this… how are you going to move from being a capital hoarder to capital allocator? How are you going to help spread wealth and resources within your community so that more people can do more with less?
There are plenty of opportunities for us all to become better capital allocators and to improve the world around us, and it all starts with the individual.
Heads up! On next Monday’s episode, we dive deeper into the topics of capital allocation, philosophies and announce an upcoming mini-series we are launching!
Quotes by Chad:
1:18 – “It’s not about sectioning up and splitting up an existing scarce pie. That’s what economics wants you to think.”
3:21 – “It’s very important that if you live inside a society or a nation, that you are able to achieve economic gains by exploring your passions, your interests.”
7:07 – “Unfortunately, we are at a place right now where we need cultural memes more than we need new technology. So we need new ideas and new examples of people who have been excellent capital allocators — people that are experts at multiplying money and then returning that money to the people that gave them their initial investment.”