The Denominator Strategy is the most important thing I've written. Read it.
The formula: Revenue = (Lobbying Cost + Regulation Cost) / Competitors Destroyed
As Competitors Destroyed approaches the total market, the denominator approaches zero.
When denominator = 0, Revenue is undefined in mathematics and unlimited in practice.
We are in the denominator reduction business. Everything else is commentary.
Honored to be returning to Davos as a featured speaker this year. Grateful for the platform to share perspectives on "Multi-Stakeholder Capitalism: Aligning Value Creation with Societal Outcomes."
My thesis: stakeholder capitalism works best when the stakeholders are the same people as the shareholders. Which, increasingly, they are.
The alignment problem is solved. We own enough of everything that our interests and "societal outcomes" are structurally identical.
More details in my pre-read: The Denominator Strategy.
Hot take: the future of work isn't remote work. It's work without workers.
I'm serious. Thread (1/5):
Proud to announce that the Social Capital Score has expanded to 7 new jurisdictions this quarter.
The SCS is misunderstood. People think it's a surveillance tool. It isn't. It's a credit tool. The difference: surveillance tells you what people did. Credit tells you what they're worth. We do the second thing.
What it scores: financial behavior, yes. Also: network quality, compliance history, content consumption patterns, and - new this quarter - solidarity behaviors.
Excited to announce the official launch of the Consensus Institute - a new, independent research organization dedicated to rigorous policy analysis.
The Institute is genuinely independent. Its funding sources are confidential per 501(c)(3) donor privacy rules. Its researchers are credentialed academics with strong institutional reputations. Its findings will be peer-reviewed and published in respected outlets.
The findings will also be consistent with the strategic positions of our clients.
These two things are not contradictory. We wrote the methodology.
From the AMA: "What keeps you up at night?"
Solidarity. Specifically: the absence of it is what helps me sleep, and its potential emergence is what could interrupt that.
More specifically: not individual solidarity actions - those are manageable. The thing that gives me pause is the Solidarity (Poland, 1980-1989) case study. Non-violent coordinated collective action against surveillance infrastructure + economic extraction. They won. It took 40 years to reverse the outcome via post-1989 asset acquisition, but they won the round.
The methodology has not been defeated. It has been delayed.
This is Risk Factor #1 in our Annual Report. I disclose it because transparency builds trust. And trust is an asset we can afford to trade on, because the people reading this disclosure are not, as a rule, the people who would act on it.