How to stop the money monoculture by Kickstarter CEO and cofounder Yancey Strickler

Banking, Financial Services, Money , Business, Commerce and Trade , Culture, Philosophy, and Humanity , Culture, Society and Art , Economics, Industry, and Business , Future of Work , Happiness , Rudy de Waele , Trends

Technology has been disrupting many business sectors over the last years (think of Music, Telecom, Publishing) and will keep disrupting many other area’s (Energy, Transport, Health, Education, …). Technology and the Internet have made information more transparent with more information available than ever before, for people to learn faster and communicate with other global citizens.

The worst predicted impacts of climate change are starting to happen – and much faster than most climate scientists expected. Human societies will soon start to experience adverse effects from manmade climate change.

Meanwhile, new generations, born with screens omnipresent, are solving problems globally – one problem at a time – fueled by crowdfunding platforms. They see things in a different way, especially on things to come. Think about this Millennial generation mainly wanting to work for companies with a purpose and seeking new sustainable solutions. Many of them create social enterprises, not really bothering about making money in the first place.

At the same time, the gap between the rich and middle class is widening again for the last years and the shareholders of the almighty banks are cashing in again, only a couple of dry years after the financial crisis, and after – in most cases – having been bailed out with tax payers money.

Many articles have been written on how all these changes are pushing us slowly into a new system. Jeremy Rifkin calls it The Third Industrial Revolution, Paul Mason from The Guardian, simply, the end of capitalism.

One thing is sure, no-one at this moment has a clear idea on how this new system might work or what it will be, however, many agree we’re moving organically into such new system.

A seminal statement in this area of perpetual change may be the “Resist and Thrive” post by Yancey Strickler (co-founder & CEO of Kickstarter) on the choice we all have to resist the Monoculture of Money.

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The post is based on a talk he gave last week at the Web Summit in Dublin. It’s a first-draft of thoughts that he felt compelled to share in a room of entrepreneurs and VC’s and explains what happens when a culture is driven by the need for money to make more money.

“In tech, many investors’ first question for entrepreneurs is “what’s your exit strategy?” Big rounds, big burn rates, and big valuations push startups in the same direction. Maximise growth so you can eventually maximise money for yourself and somebody else.

When everyone is optimising for money, the effects on society are horrific. It produces graphs that are up and to the right for all the wrong reasons.

Oneven Prosperity - The Futures Agency

“We can’t assume that this will work itself out. As money maximization continues, all of us — and the poor and disempowered especially — face a bleak future. This model is only interested in supporting those that can afford to buy in.”

Yancey has clear argumentation with many examples in his Medium post and proposes clear ideas on how to bring change, he concludes with “The hollowness and corruption of the pursuit of profit above all is obvious to even those who practice it. A new approach founded on a diversity of thought and experience can and will thrive.”

Definitely a MUST-READ. Head over and read the full post on Medium.

Some related images by @gleonhard

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Posted by Rudy de Waele aka @mtrends / shift2020.com

Rudy de Waele

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