Thinks 453

Neil Hoyne: “When we’re talking about the move from clicks to conversations, what we’re really talking about, in its essence, is the movement from short-term to long-term value. To move away from individual sales— individual leads—and look at larger concepts like customer lifetime value, to look at how valuable those customers are going to be over the relationship with your business, instead of saying that they need to spend and do everything right away.”

Andy Kessler on how sixty years after John Glenn orbited Earth, the private sector leads in space travel. “Silicon Valley’s venture-capital industry came of age when the government got out of the way with President Reagan’s capital-gains cut. Treating capital well gets companies funded with enough competition to keep them honest. The stock market provides access to expansion capital, sometimes even for the crazy ideas like space tourism. Let’s celebrate Glenn’s orbits but remember that progress may begin with basic research, but it scales with the private sector.”

Anticipating the Unintended Newsletter: “Inequality crusaders must realise that taking money from the billionaires through a new surcharge is not going to make any significant dent in poverty in India. The only solution is economic growth, as we have discussed many times before in this newsletter. Much of the global inequality is between countries and not within countries. Across countries, variations in many important dimensions — literacy, life satisfaction, and health outcomes— can be explained by one single variable: incomes. Tackling inequality then essentially means increasing the incomes of poorer countries rapidly. Economic growth is a moral imperative.”

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.