Consistently we as entrepreneurs seem to be measured by the level of profitability and bankability of our projects and ventures.
Make no mistake this is not a discussion about capitalism but one around the level of profitability that is justified for a specific good or service.
Leading up to this question is the quest to embrace the 4th Industrial Revolution that from all measures is minimizing the role of labour. The 4th revolution is geared to primarily automate everything with artificial intelligence.
Now no one wants to do hard, dirty jobs but until society reaches what economists call full employment anything that prevents society reaching this goal is futile.
The current measures of a business around profitability is not helping either. To be fair, some businesses similar to ours put a focus on staff welfare before profit growth. This is essential to keep society cohesive and prevent or minimize societal instability.
Another consequence of profit chasing is the culture that it builds around the view that no individual is fulfilled until they have the capacity to consume everything insight.
Businesses market and advertise “must haves” to the unsuspecting consumer that is in many cases not aware of the financial implications of the purchase and the true role that the purchase will play in their lives.
So the question really is “are we ready for AI and the 4th Industrial Revolution”?
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