DeepSummary
The episode discusses the concept of 'patient capital' as an alternative to impatient capital focused on short-term profits. It explains how patient capital involves making investments with a long-term perspective, aimed at creating positive change and transforming systems over time through capitalism.
The episode uses examples like Western Seed in Kenya and D.Light solar lanterns to illustrate how patient capital can gradually improve communities by introducing innovations that increase productivity and quality of life. It contrasts this approach with high-frequency trading and program trading driven by the pursuit of minute profits at the cost of ignoring broader impacts.
The episode argues that while impatient capital is focused on extracting maximum value as quickly as possible, patient capital recognizes that systems and cultures evolve over longer timeframes. By helping enough people get what they want through a patient capitalist approach, it is possible to drive sustainable positive change.
Key Episodes Takeaways
- Patient capital involves making investments focused on creating long-term value rather than extracting short-term profits.
- Innovations enabled by patient capital can spark virtuous cycles of improvement in communities over time.
- High-frequency trading prioritizes ultra-fast profits over broader societal impacts.
- Adopting a patient mindset with capitalist investments allows driving sustainable positive change.
- Building trust is key for the adoption of innovations aimed at improving lives.
- Systems and cultures evolve gradually, so patience is required to transform them through investment.
- Patient capital recognizes capitalism's ability to change the world if focused on helping others.
- Taking responsibility for the impacts of our investments is important with patient capital.
Top Episodes Quotes
- “The good news about farm saved seeds is that they are free. The bad news is they don't work very well, because the things that are left over after you grow wheat aren't necessarily the best seeds to grow.“ by Rex
- “So the question is, if we go to somebody and say, wanna buy $3,000 worth of wheat for $30 in seed, you would expect that most rational actors would say yes, except we're working in a low trust environment.“ by Rex
- “So the question we need to ask as we look at the systems around us, are we responsible for what happens to the system we invest in? And if we are willing to be patient in how we are going to engage with that system, what change could we possibly make?“ by Rex
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Episode Information
Akimbo: A Podcast from Seth Godin
Seth Godin
5/29/24
How to change the world
Akimbo is a weekly podcast created by Seth Godin. He's the bestselling author of 20 books and a long-time entrepreneur, freelancer and teacher.
You can find out more about Seth by reading his daily blog at seths.blog and about the podcast at akimbo.link.
To submit a question and to see the show notes, please visit akimbo.link and press the appropriate button.
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