Thought Shrapnel

I think what Scott Galloway is saying here is that unfettered capitalism, which allows addicting people to products detrimental to their health, is a bad thing? That seems pretty obvious.

What I think Americans are missing, to be honest, is a way of saying that they want ‘socialism’ without it being equated with ‘communism’. I lots of tortuous statements about ‘post-capitalism’ and other terms. But the rest of the world undrestands socialism as balancing government intervention for the health and flourishing of citizens as being ‘socialism’, not ‘communism’.

The world’s most valuable resource isn’t data, compute, oil, or rare earth metals; it’s dopa, i.e., the fuel of the addiction economy, which runs the most valuable companies in history. Addiction has always been a component of capitalism — nothing rivals the power of craving to manufacture demand and support irrational margins.

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Historically, the most valuable companies turn dopa into consumption. Over the last 100 years, 15 of the top 30 companies by cumulative compound return have been pillars of the addiction economy. The compounders cluster in tobacco (Altria +265,528,900%), the food industrial complex (Coca-Cola +12,372,265%), pharma (Wyeth +5,702,341%), and retailers (Kroger +2,834,362%) that sell both substances and treatments. To predict which companies will be the top compounders over the next century, consider this: Eight of the world’s 10 most valuable businesses turn dopa into attention, or make picks and shovels for these dopa merchants.

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Now that everyone has a cellphone, we spend 70% less time with our friends than we did a decade ago. We’re addicted to our phones, and even when we’re not seeking our fix, our phones seek us out — notifying us on average 46 times per day for adults and 237 times per day for teens. In college, I spent too much time smoking pot and watching Planet of the Apes, but when I decided to venture on campus, my bong and Cornelius didn’t send me notifications.

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We’re hard-wired for addiction. We’re also wired for conflict, as competing for scarce resources has shaped our neurological system to swiftly detect, assess, and respond to threats — often before we’re aware of them. As technology advances, our wiring makes us more powerful and more vulnerable. We produce dopa monsters at internet speed. We can wage war at a velocity and scale that risks extinction in the blink of an eye.

Source: No Mercy / No Malice

Image: Mishal Ibrahim