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"I determined absolutely that never would I join a company in which finance came before the work or in which bankers or financiers had a part. And further that,

"I determined absolutely that never would I join a company in which finance came before the work or in which bankers or financiers had a part. And further that, if there were no way to get started in the kind of business that I thought could be managed in the interest of the public, then I simply would not get started at all. For my own short experience, together with what I saw going on around me, was quite enough proof that business as a mere money-making game was not worth giving much thought to and was distinctly no place for a man who wanted to accomplish anything. Also it did not seem to me to be the way to make money. I have yet to have it demonstrated that it is the way. For the only foundation of real business is service." Henry Ford - http://www.gutenberg.org/cache/epub/7213/pg7213.txt http://www.gutenberg.org/cache/epub/7213/pg7213.txt

Hello71 6y ago
'The work which we describe as Studies in the Jewish Question, and which is variously described by antagonists as "the Jewish campaign," "the attack on the Jews," "the anti-Semitic pogrom," and so forth, needs no explanation to those who have followed it.' Henry Ford - http://www.gutenberg.org/cache/epub/7213/pg7213.txt http://www.gutenberg.org/cache/epub/7213/pg7213.txt
motohagiography 6y ago
Looked for managerialism, as this is what I think Musk's objection is caused by. Warren Buffet famously said, “I try to invest in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.” Institutionalized management rewards a set of skills that are not the ones that create growth, which is sort of the point. They find growth and then "manage," it on behalf of other people who "manage" money. It's the classic principal-agent problem, where managers as a class have enriched themselves at the expense of owners like pensioners, savers, entrepreneurs, and taxpayers. IMO, the whole managerial problem is caused by a mix of high and complex tax regimes, and low interest rates. The former is a make work policy for a clerical worker class, and the latter means banks become the cultural and political centre of everything. It causes the economic shift from making things people want, to doing things nobody wants.

Hello71 6y ago

'The work which we describe as Studies in the Jewish Question, and which is variously described by antagonists as "the Jewish campaign," "the attack on the Jews," "the anti-Semitic pogrom," and so forth, needs no explanation to those who have followed it.' Henry Ford - http://www.gutenberg.org/cache/epub/7213/pg7213.txt http://www.gutenberg.org/cache/epub/7213/pg7213.txt

motohagiography 6y ago

Looked for managerialism, as this is what I think Musk's objection is caused by. Warren Buffet famously said, “I try to invest in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.” Institutionalized management rewards a set of skills that are not the ones that create growth, which is sort of the point. They find growth and then "manage," it on behalf of other people who "manage" money. It's the classic principal-agent problem, where managers as a class have enriched themselves at the expense of owners like pensioners, savers, entrepreneurs, and taxpayers. IMO, the whole managerial problem is caused by a mix of high and complex tax regimes, and low interest rates. The former is a make work policy for a clerical worker class, and the latter means banks become the cultural and political centre of everything. It causes the economic shift from making things people want, to doing things nobody wants.