This week’s edition of Business Review Weekly has its annual Young Rich List and what do you know, I am in it. Well, actually, in the magazine. To be on the list would have required an incredible drop in standards on the definition of ‘rich’ and would have been on the older side of their definition of ‘young’ (Kylie and I were born in the same week). No, I comment on the list and, in particular, on entrepreneurship. (Click here for my article)
My thesis is that those who have got on the list by being entrepreneurial (as opposed to inherited wealth, entertainment or sports) are unlikely to make it to the old rich list. The risks that got them where they are today will likely take them out tomorrow. Not to destitution just not into obscene wealth. I argue that this is nice and healthy for innovation in the economy because it reflects an environment for experimentation.
Finally, I cannot let it pass that on page 56 of BRW, there is a entire page considerable waste of paper with what is surely an unnecessary glossy photograph of a commentator. How many carbon offsets am I going to have to purchase for that one?