If famed explorer Ernest Shackleton had founded a modern-day tech start-up, the elevator pitch may have sounded something like this:
Investors Wanted. Hazardous Start-up. Goes against every financial instinct you have ever known. Forget about ROI. Long months of complete financial darkness. Extreme risk. Bankruptcy nearly assured. In the unlikely event that we are successful, the Earth will remain inhabitable.ES
A Tiny Flaw:
There is a tiny little flaw in our modern financial system that must be corrected very soon. This flaw is so small, simple, and well hidden that it defies the imagination needed to perceive it. Yet this minuscule anomaly is responsible for all man-made global systemic risks from environmental collapse to wealth disparity to political instability. Unless the flaw can be corrected, the human experiment will fail.
Looking on the sunny side of life, the flaw may actually be very easy to correct. Here it is:
Technological change must always precede economic growth. We are going about the business of civilization as if economic growth can somehow precede technological change. We’ve gotten it backwards.
We are living in the mirror image of the economy that was supposed to happen with the invention of math. To fix this, the Innovation Bank introduces a supplemental monetary system backed by future productivity measured from Innovation. This will balance the books on our current system backed by future productivity measured from debt.
That’s all there is to it. Either you see it or you don’t.
A Correction Factor
Whether we realize it or not, all of us are living in this Shackleton Start up together. By introducing a simple “correction factor” to our current financial system, the Innovation Bank could flip the flaw with very little obvious change to the otherwise well-working financial institutions. If we do not succeed in introducing this correction factor – well, you can’t say we didn’t warn you.