#434: Capital in the 21st Century with Allen Farrington
TFTC: A Bitcoin Podcast
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The Onus on Companies to Generate High Returns
Sustainable gets a lot of flak for its misuse in wider finance. Ultimately, what makes a business sustainable? It's got nothing to do with ESG. What that is capturing is that they are growing their productive assets. You want to contrast this to what we've just become used to in fiat. The existence of productive assets at all, or the structure of incentives that even allows them to come into existence, that's what creates everything else. That's what legitimizes the entire enterprise of allocating capital.
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