Are entrepreneurs capitalists?

Entrepreneurs, for example, work in the early stages of their company’s growth at the same level as third-world laborers. Many hours are spent at almost no remuneration to nurture the concepts that will later – it is hoped – produce livelihoods for many. Working for nearly nothing is a very common entrepreneurial strategy that flies in the face of capitalism.

via Math

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1. You Weren't Meant to Have a Boss A few days ago I was sitting in a cafe in Palo Alto and a group of programmers came in on some kind of scavenger hunt. It was obviously one of those corporate "team-building" exercises. They looked familiar. I spend nearly all my time working with programmers in their twenties and early thirties. But something seemed wrong about these. There was something missing. And yet the company they worked for is considered a good one, and from what I overheard of their conversation, they seemed smart enough. In fact, they seemed to be from one of the more prestigious groups within the company. So why did it seem there was something odd about them? I have a uniquely warped perspective, because nearly all the programmers I know are startup founders. We've now funded 80 startups with a total of about 200 founders, nearly all of them programmers. I spend a lot of time with them, and not much with other programmers. So my mental image of a young programmer is a startup founder. The guys on the scavenger hunt looked like the programmers I was used to, but they were employees instead of founders. And it was startling how different they seemed. So what, you may say. So I happen to know a subset of programmers who are especially ambitious. Of course less ambitious people will seem different. But the difference between the programmers I saw in the cafe and the ones I was used to wasn't just a difference of degree. Something seemed wrong. I think it's not so much that there's something special about founders as that there's something missing in the lives of employees. I think startup founders, though statistically outliers, are actually living in a way that's more natural for humans. I was in Africa last year and saw a lot of animals in the wild that I'd only seen in zoos before. It was remarkable how different they seemed. Particularly lions. Lions in the wild seem about ten times more alive. They're like different animals. And seeing those guys on their scavenger hunt was like seeing lions in a zoo after spending several years watching them in the wild. Read the rest of the article here. via Paul Graham | hat tip Hugh MacLeod [gapingvoid.com]
2. Consequently, we've not had universal health care for the common good. We have never enjoyed the benefit of universal higher education, because collectively we cannot agree that it is in the common good for all citizens to be equally free from ignorance. We pay the price of that at every turn … in the lack of nuance in the national character, in the childlike and clichéd thinking of our electorate, in our satisfaction with a deluge of technological toys instead of meaningful work and leisure, or intellectual and spiritual substance. (via Joe Bageant)

3. Like Duchamp, Boggs documents conceptions of value that inform the art world, and investigates how worth comes into being. Furthermore, he plays with economic systems as if they were children's toys, like Duchamp did with the institutions of the art world.

   JSG Boggs drew his very first bill in 1984 while sitting in a Chicago bar. The artist was doodling on a napkin, and the waitress liked his drawing and asked if he would pay his 90-cent bill with it instead of real money, and the "Boggs Notes" were born. That was the start of JSG Bogg’s strange tale of "economic" art and later on, legal troubles. Boggs began "spending" his very own bills for face value - he would draw an elaborate note denominated $10 in exchange for $10 worth of goods. Soon after, no doubt in part because of the high quality of illustrations, Boggs notes became very collectible - however, Boggs refused to sell his notes directly to collectors. He preferred to exchange his money for goods, at restaurants, bars and shops, and then tell the collectors where to hunt for the Bogg notes. Boggs likened his economic transactions to performance art. Continue Reading | via pennylicious | via tout-fait
4. Consider the way a human face speaks with silent eloquence. In the view of Raymond Tallis, an eminent British doctor and a talented writer, the face of a man or woman constitutes "the most sign-packed surface in the universe." Nothing else we see carries more meaning. Every face displays a pattern of dense emotional responses in the present and an archive of its owner's experience in the past. And each one is both unique and mysterious. via National Post
5. As the sell-off in global markets continues, RCM's CIO for Europe Neil Dwane believes the aftermath of Monday's events will lead to the formation of a 'new world order', in which the remaining financial giants will flourish. via CityWire

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