The "What is Money?" Show cover image

The Biggest Heist in History | The Pascal Najadi Series | Episode 2 (WiM227)

The "What is Money?" Show

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Is Your Capital Spending Other People's Money?

People in government or in the public sector, they really should have to prove themselves in the private sector before taking these roles. These people have never operated a business with their own skin in the game. They don't know what it's like to suffer real losses. If you just come out of academia and go straight into leadership, you never get that incentive. A business needs to be profitable to be relevant. But again, if you're spending other people's money that it's not, you don't have that incentive. The entrepreneur is rewarded for making money, but the bureaucrat is rewarded for spending money. It's a very backward incentive.

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