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I think it’s a very interesting idea. Clearly, this choppy contrarian and I read like I think we need more of those here. Yeah.
As much as possible in the wards, but also for entrepreneurs. So I discard this because a few these projects so that. Yeah. I think it’s even if it doesn’t scale, it provides options for companies, entrepreneurs. And you always need someone, you know, with capitalism which works or at least until now. So Cust brewing to work. But then if you take it too extreme, you know, it has some collateral damage or externalities. They call it in economics. So for instance, you are saying now is too much concentrated then investment capabilities into lie, big asset managers or whatever. Hedge funds are no institutional investors, private equity. But it shouldn’t be like that. But also, companies are trying to you are not thinking long term. Also, for instance, you have them climate change, for example. So debt date companies are not bother much with climate change because it’s a long term problem and they are driven, you know, the CEO of that company. He needs to make it work within the next year or two or five, not within the next 30 or 50 or a hundred years. So especially in the U.S. or Western countries, usually in China or eastern countries like Japan, they tend to think long term. And there are very few companies that think long term, maybe lie now. But you need those outliers or more like contrarian or entrepreneur. You are an. Yeah, Guy said that put this concept forward later on, can change things like Elon Musk with renewables, not only with Tesla for cars, but that can extend to any other form of transport. And there is long term and also it’s not even only for transport. If you are a former energy consumption point of view, if you think long term, then if you are going with solar and wind, which is the most likeable options that we have, then you will need storage. So thank you. Swing in the battery business as well. So because that will help, you know, the full transformation towards renewable energies. So that’s a long term case. That’s why also when Tesla shares grow, I mean, it’s very volatile and there’s a lot of hype. But the I think long term, maybe 30, 40 years, they’re building something, you know, Amazon and these guys have a long term view. Now, e-commerce is booming, but he was ahead like 20, 30 years, you know. And then with the rockets as well. I mean, space industry, that’s long term as well that this year.
So so it’s interesting specifically in the case, because he’s obviously got Tesla, which is a public company, and then he’s got Space X, which is a private company. And so he’s got two very different kind of demands on him as a CEO or M.D. of those of those two companies. And he’s got a very different way of operating. And he famously, you know, had his meltdown moment where he was smoking weight and saying that he wants to take a Chrysler private again. Four hundred and twenty dollars per share or whatever it is, which is a fraction of what he’s worth now.
Yeah, I think it is indeed a very good example and also he was under so much pressure with Tesla because of not delivering the quarterly results on profits and output of cars manufactured. So and it almost went broke. Does the bankrupt. So. Which is insane. That now is the like superstar. And that was all due to short sellers. Some pressure from Wall Street analysts saying, oh, no, you are not turning a profit down. You will not get here. There when he was more idealist, you know, looking towards make an impact long term on earnings are very resourceful guy. So if if I mean, he was challenging what he was trying to do. But if he goes through that, I’m not sure lots of people, he can go through that or are prepared or can even afford to go through that. Yeah. Kick out some options that other companies wouldn’t. That essentially that the short term, the mindset or rule based stock exchange is they they kill innovation. And actually many of these large public companies, they don’t know it at all. So even the tech companies, I’m very pretty, you know, on that day. Yeah. Apple, I don’t think it’s, you know, I.T. enough or has not been doing it after Steve Jobs. They’re just milking it. And then even Google is trying to do it that way. They have been trying a bit, but that’s because the founders were around until recently. So, yeah, usually very few entrepreneurs can keep the long term view. So if these new stock exchange, the long term, so the change can provide a framework for that. Like an option for entrepreneurs to, you know, try to think on radical solutions, which will take time. And as long as investors are language that if that gains direction, that will be amazing. So, yeah, kudos for him. Yeah. I will keep monitoring how he’s doing. Yeah. Looking forward to their success.
Well, I think we’re definitely in agreement there. Yeah, for sure. I’m I’m super interested in that kind of side of things. I’m in my opinion as well. I don’t I don’t think they went quite far enough, but I think that’s probably because of, you know, it’s taken them a very long time to go through like the regulators and things like that. So I think probably pushing too far, you know, risks not having it at all. So I think that this is a good first step. But I’m I’d be keen to see things like high frequency trading and things like that sort of mitigated in this kind of market, because I think there’s a bunch of problems which occur from that kind of thing as well. Mitigate in the sense that. There should be choice of market. Right. So you should be able to choose whether to invest in the market where that thing exists or where it doesn’t. You know, if there are certain biases in the market, then, you know, it should be your choice. At the moment, there is no choice, you know. If he is either invested in the stock market or down, you’re gonna be exposed to the you know, the the problems and the benefits that are brought by the high frequency trading. So note would definitely be very interested in seeing where the long term stock exchange goes. Thanks very much for listening. We’re back every Tuesday and Thursday. Please cheque out our YouTube channel where we post this podcast on our other videos. Search where net workers. That’s two words. Or you can find the links in the show notes for this podcast. If you’re interested in help, mentorship and courses for entrepreneurs and starting businesses, please cheque out our website, which is at networkers dot com. So on its own by.