The modern concept of business prioritizes profit over social responsibility, a shift from historical industrious values. Milton Friedman’s profit-centric doctrine contrasts with Adam Smith’s consumer-focused view. Successful companies should adopt a mission-driven approach, ensuring alignment across teams and capital sources to fulfill their social contributions while managing profit as a secondary priority.
Author Archives: Enrique
Three foundational business equations everyone thinks they know well
Many people I have encountered throughout my professional and personal life believe in having a job, making money by hustling a side gig or creating a new business. Very few question the economic principles underlying their respective businesses and why they are sound. This is not a fault nor a mistake. It’s just that theseContinue reading “Three foundational business equations everyone thinks they know well”
Brief opinion on the state of the economy
The economy presents mixed signals: overall debt surged to $18 trillion, and housing prices rose significantly. Employment is increasingly concentrated in large firms, despite low unemployment rates. However, new business starts have risen sharply during the pandemic. The author emphasizes supporting entrepreneurs in navigating this complex landscape.
GenAI, a good complement to advisors.
Experts predict that Generative AI will eventually transform into Artificial General Intelligence (AGI). In light of recent challenges, the author began using ChatGPT for brainstorming, finding it provided concise, well-researched insights that often surpassed those of seasoned experts. The potential of AI to enhance knowledge work and optimize outcomes is promising.
Design matters more than you think
I’ve been reflecting on the myriad of projects and startups I am advising and exposed to and continue to be amazed by the sheer creativity and deep knowledge creators and founders of these projects and companies have. Their commitment to making the world a better place is palpable and their willingness to work hard toContinue reading “Design matters more than you think”
From Idea to … a business?
When you are on a vacation, relaxing, you typically have the time and luxury of thinking broadly about your life, what you have accomplished thus far, and what your next set of goals, ambitions, desires are. The downtime afforded by a vacation may lead you to start thinking about ideas for starting something on yourContinue reading “From Idea to … a business?”
What is wrong with the modern rendering of Adam Smith’s “Invisible Hand”?
A quick view into how a passage that was intended to illustrate the cooperative nature of man, was turned into a call to arms in support of laissez faire doctrine.