Wednesday, July 01, 2009

Umair Haque on Michael Jackson and the Zombieconomy

Take 5 mins to read this by Umair Haque on 'a zombieconomy, where little net value is created.'


'If the world's biggest pop star only made $25 million a year in total, something's very, very wrong. Where's the rest of the money? Why can't a resource as scarce as the King of Pop capture more value?

The world's top hedge fund 'managers' regularly pull in hundreds of millions. That's an order of magnitude difference.

No wonder everyone wants to be a banker, investor, or beancounter. There's no money left in anything else.

That's the big problem...We don't reward people for creating, growing, nurturing, or even remixing assets. We just reward them for allocating the same old assets.'

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