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I think you have identified a real problem. There needs to be a vehicle for long term investing in companies. In the UK at least the major vehicle for long-ter

I think you have identified a real problem. There needs to be a vehicle for long term investing in companies. In the UK at least the major vehicle for long-term, even multi-generational, investing is property because of the special protections it has. The richest family in Britain recently transferred £9bn to the next son, tax-free, in this way. It is low risk, and the costs of holding non- devoloped land is low. This leads to all kinds of undesirable effects like land-banking. I feel the cost of holding land needs to go up (land value tax?) to incentivise development. Inheritance tax shields (trusts) need removing. This should get all of this stale capital working and looking for a new home. This could be a longer term VC type fund, perhaps?

solidasparagus 7y ago
Maybe! I wonder how that would work with the internal dynamics of VCs. OpenAI is an interesting case study here. But they ran into the problem that working on transformative long-term projects is expensive and it is very hard to continue to fund it solely on what are essentially group charitable contributions. Maybe the right domain to address this problem is via the government - help shift incentives towards long-term investments in innovation in some way. The only model I've seen work effectively so far is having on extremely rich person decide on a long-term goal and financially drive that work over a long-period of time - Musk with electric vehicles, Musk/Bezos with spaceflight, Gates with global health.