Monday, October 14, 2019

New Capitalism Is Techno Capitalism, Hello Marc



New capitalism is tech-heavy. It is not ideology heavy. You just do do do. You get it done.

Face it. We are one planet. We need a world government. 100 Gates Foundations will not be able to meet the challenges of the world. Only a world government can.

The world has $300 trillion in wealth. Everyone who owns property needs to pay a wealth tax of 3%. That money needs to pay for a Universal Basic Income. Since when did Universal mean American?

That arrangement will be a constant stimulus to the global economy.

Form a T100 along the lines of G20. The top 100 tech companies by market value meet annually. Because there are unavoidable governance issues. Unless you tackle those governance issues, you can not roll out the Blockchain.

World War II is over. Abolish the veto. We need a world government with a bicameral legislature. We don't have to wait until every country on earth has an American style "democracy." No country in Europe has an American style democracy. The President of the World can be directly elected. Why not? Every human being gets to register on any phone or tablet with their finger. You create or claim your biometric ID, and you vote. Your phone is your voting booth. In the lower house, every country gets a vote in direct proportion to their population. In the Upper House it is in direct proportion to their GDP. Each country pays 1% of its GDP as membership fee to the world government.

Global warming is existential, there is only a 10-12 year window before we hit a point of no return, and no one government could solve it. Only a world government could hope to solve it.

T100, pass a proposal that data gathered on every individual is the property of that individual, even though collected by a tech company. A person's data is their personal oil well. Use that to boost the UBI.

T100, pass a proposal that all monetary transactions on the Blockchain can only go from individuals to individuals, or companies and organizations duly registered by individuals, who all have biometric IDs resting on that very same Blockchain. Promises of frictionless global money transfers are giving nightmares to the governments around the world who have to deal with things like terrorism and human trafficking and the drug trade.

1% is not enough. My tech startup is starting by giving 10% ownership of our company to our foundation.

Marc Benioff: We Need a New Capitalism I have been fortunate to live a life beyond the wildest imaginations of my great-grandfather, who immigrated to San Francisco from Kiev in the late 1800s. ........

Capitalism, as we know it, is dead.

....... On a personal level, the success that I’ve achieved has allowed me to embrace philanthropy and invest in improving local public schools and reducing homelessness in the San Francisco Bay Area, advancing children’s health care and protecting our oceans. ........ Globally,

the 26 richest people in the world now have as much wealth as the poorest 3.8 billion people

......... In the United States, income inequality has reached its highest level in at least 50 years, with the top 0.1 percent — people like me — owning roughly 20 percent of the wealth while many Americans cannot afford to pay for a $400 emergency. It’s no wonder that support for capitalism has dropped, especially among young people........ profits are important, but so is society. And if our quest for greater profits leaves our world worse off than before, all we will have taught our children is the power of

greed.

....... they focus not only on their shareholders, but also on all of their stakeholders — their employees, customers, communities and the planet. ....... the “purpose of a corporation” includes “a fundamental commitment to all of our stakeholders.” ......... When asked whether companies should serve all stakeholders and whether capitalism should be updated, Vice President Mike Pence warned against “leftist policies.” ...... with political dysfunction in Washington, D.C., Americans overwhelmingly say C.E.O.s should take the lead on economic and social challenges, and employees, investors and customers increasingly seek out companies that share their values........ Since learning that we were paying women less than men for equal work at Salesforce, we have spent $10.3 million to ensure equal pay; today we conduct annual audits to ensure that pay remains equal. Just about every company, I suspect, has a pay gap — and every company can close it now......... by integrating philanthropy into our company culture from the beginning — giving 1 percent of our equity, time and technology — Salesforce has donated nearly $300 million to worthy causes, including local public schools and addressing homelessness. ....... Entrepreneurs looking to develop great products and develop their communities can join the 9,000 companies in the Pledge 1% movement and commit to donating 1 percent of their equity, time and product, starting on their first day of business. ......... Rather than instinctively opposing new regulations, tech leaders should support a strong, comprehensive national privacy law — perhaps modeled on the European Union’s General Data Protection Regulation — and recognize that protecting privacy and upholding trust is ultimately good for business. .......

Research shows that companies that embrace a broader mission — and, importantly, integrate that purpose into their corporate culture — outperform their peers, grow faster, and deliver higher profits.

....... We don’t have to choose between doing well and doing good. They’re not mutually exclusive. ....... Of course, C.E.O. activism and corporate philanthropy alone will never be enough to meet the immense scale of today’s challenges. It could take $23 billion a year to address racial inequalities in our public schools. College graduates are drowning in $1.6 trillion of student debt. It will cost billions to retrain American workers for the digital jobs of the future. Trillions of dollars of investments will be needed to avert the worst effects of climate change. All this, when our budget deficit has already surpassed $1 trillion............. increasing taxes on high-income individuals like myself would help generate the trillions of dollars that we desperately need to improve education and health care and fight climate change. ......



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Photos by Surya and Nischal.

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