When A Founder Should Step Aside
Smith Sense
As Matt closes the door on his CEO days with Royalty Exchange and moves into a Chairman position, he speaks with Antony about when is it the right time to step aside and let someone else take the controls.
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Digital Nomads, Independent Thinking, and Why Bobby Casey is Optimistic
Smith Sense
Matt chats with Bobby Casey from Global Wealth Protection about digital nomads, working from home and independent thinking
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Distribution is King
Smith Sense
Entrepreneurs tend to focus on product and marketing. The real opportunity is in distribution.
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Killing Innovation
Smith Sense
At a time when we badly need innovation, less regulation — not more — is the answer.
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Doug Casey Talks Covid-19, Fedcoin, and the Future of Western Civilization
Smith Sense
A Conversation with Doug Casey about the current chaos the US finds itself in
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Performative Entrepreneurship
Smith Sense
Are you innovating or performing?
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Frame
Smith Sense
Gary Young joins the podcast to discuss how to use ‘frame’ to influence.
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The Power of the Overton Window
Smith Sense
Royalty Exchange cofounder Gary Young joins the podcast to discuss how self-limiting ideas — our own and those of others — shape our daily reality.
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Just Cause
Smith Sense
To play an infinite game, start by defining what you stand for
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Hiring and Firing
Smith Sense
How to attract talent, pick the right candidates, retain star employees and say goodbye
info_outlineThe economic fallout from COVID-19 is highlighting one challenge that entrepreneurs face all time: regulation stifles innovation.
Entrenched interests
You don’t have to look farther than the recipient list of Paycheck Protection Program (PPP) loan program to see how even well intentioned regulations — in this case, to protect small businesses from collapsing — end up serving entrenched interests far more than the people they purport to help. Among the list are Kanye West, Grover Norquist’s Americans for Tax Reform Foundation, perhaps most galling, the Ayn Rand Institute.
Especially in a crisis, people look to regulations as the solution. But added regulation almost never helps the entrepreneur just starting out who wants to build a better economic future for their family. Instead, it favors the entrenched interests who can afford to lobby government officials.
Via negativa
Most often the solution is not additive. Rather, it’s what Nassim Taleb calls via negativa — it’s removing something often actually makes things more possible rather than adding another benefit to people.
I couldn’t schedule a dentist appointment for a period of time here in Colorado, but I could go to the pot shop. That’s the result of lobbying power. That regulation is not protecting my health as much as it’s protecting the entrenched interests of the pot industry.
CEO bailout
We bailed out the airlines, and in exchange they agreed to keep all employees on until the end of September, at which point they’ll lay them off. So we essentially took Americans’ money and set it on fire by filtering the dollars through the airlines.
Theoretically it helps employees, but only a little bit and for a little period of time. In reality it helps the CEOs who’ve made terrible decisions for a decade.
Resources
Three Felonies a Day, by Harvey Silverglate