The Year Capitalism could have Changed

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The year is 1916. A man named Henry Ford attempted something that had never been done before. Sharing his profits to the people most important to him. His customers and employees.

I’m sure you have heard this mission statement plenty of times, “Our mission is to maximize profits for our shareholders.” — Very inspiring— but all jokes aside, this is very common goal in the corporate world. Quarterly profits become more important than long term vision or value of a company. The good news. This is changing. And it’s because something that Henry Ford attempted back in 1916, is resurfacing again.

Ford Co. received 40 million in dividends that were intended for their shareholders. But this year Ford wanted to make a change. During his annual shareholder meeting, he announced that the companies dividends would be reinvested back to his employees and reduce the price of his cars for his customers, claiming it would increase the value of his company. However, this was not taken lightly by his shareholders and the Dodge Brothers who was angered by it, sued.

In court, Ford preached that not only was this an ethical approach to society, his employees would in fact buy his cars. And by reducing the price of the vehicles, more customers could afford to own one. This would in fact increase the stock value of his company more than the shareholders yearly bonus. Unfortunately, giving back was not in the best interest of his shareholders, even to the judge, and his vision was never materialized.

 

                                  In 2016, 8 of the richest people represented 1/2 of humanities wealth

 

Now lets fast forward to 2010. Where we saw the 43 richest people in the world represent half of humanities wealth. In 2016, the number went down to single digits of just 8. It’s predicted to be 1 within a year. Why such an extreme gap? Well it turns out industries are using technology to automate and reduce jobs. While this continues at such a rapid rate, there will come a time where the general public, won’t have a salary to purchase the products the elite business owners make. It’s only a matter of time this system collapses. In fact, two decades from now it’s predicted 1 out of 2 jobs will be automated in the U.S alone.

This is why my team and I are developing Crowdholding.com, which allows businesses to share future revenue to the public for feedback and ideas. An eco-system that enables the customer to choose who they want to help and co-create with in return for shares we call crowdshares. We are giving the opportunity for people to invest time instead of money. I see a future where anyone can work from anywhere and choose who they work for, not the other way around. You can learn more here.

Follow me, Ethan Clime and join me in the revolution. We need to encourage open innovation that will in fact create a better society now and in the foreseeable future.



Crowdholding

Crowdholding connects the crowd with entrepreneurs, allowing you to give feedback and ideas for a future share.



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Discussion


Being a commerce student, this is a very informative article for me. This article is even better than what I read on https://www.topdissertations.org/edubirdie-review. It just gives a good amount of knowledge.

6 months ago

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Writing such articles can cause a dramatic shift the millennial's mindset. Keep up the good work.

2 years ago

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