Ben Kepes wrote a great post the other day, castigising some of the digerati for ignoring the ma and pa businesses that drive our nation and creating an ethos of investment elitism… that is myopically focusing on the next big thing and ignoring the noble organic growth many businesses take…ok my take anyway, my blog so deal with it 🙂
I love the post, it took cahones. It also summed up some of the things wrong with economics in my opinion…the pathalogical craving for growth, at the expense of everything else….
Then today I read Umair Haque’s blog on HBR, a post that i wish i had written, and that i think mirrors my one for a couple of months back and it got me thinking that perhaps even Ben’s stance needs challenging.
Perhaps what we, as investors need first and foremost is an moral or philosophical yardstick, then a commercial driver. Think thru some this years big IPO’s, all they do is exacerbate the rampant consumerism Umair describes. Groupon, i’m looking at you. Many others just drive the same outcome more efficiently, like Jive.
What would happen if we diverted out resources to solving genuinely big issues rather than perpetuating what appears to be a failing economic model? Things like clean energy like Google, alternate fuel, food surety, sustainable fishing, water security, education, health, disease control or eradication, population growth, population extinction ….
Am I the only one that thinks that in comparison to those challenges, a gamified business app is completely unimportant, the next iPhone game? Or another daily deal shopping play that only satisfies our consumerism addiction (I have visions of needles).