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Here’s a good pull quote from this article:
The danger of capitalist notions of value is that they’re linked to economic output, a metric that misses, well, almost everything. To an algorithm, the worth of a conversation between two people might be insights into what they’re likely to buy. To the two people, of course, the worth is the conversation itself. Odell contends that when our identities depend solely on what we contribute to a company’s P&L statement, we’re likely to end up losing who we really are.
Let me also direct your attention to this:
He cites the seminal research by economist William Lazonick, who studied S&P 500 companies from 2003 to 2012 and discovered that they routinely spend 54% of their earnings buying back their own stock (reducing the number of outstanding shares and driving up share prices) and 37% of their earnings on dividends — both of which benefit shareholders. That leaves just 9% of earnings for investment in their business and their people.
Hm, OK. Take those two together for a second.
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I traveled a lot for work in 2018, and I had a lot of discussions with guys in different verticals in airport bars, hotel bars, conference suites, and…