It is critical to learn from people of different spheres and experiences. One of the best ways to derive inspiration is to read biographies and learn from the lives of the eminent dead - whether they were founders, politicians, scientists, or even fraudsters. We can learn a lot from their mistakes. I am still new to reading biographies, as some can be monotonous and boring. Still, the one I just read was on Ivar Kreuger, the guy who allegedly planned and executed one of the biggest financial frauds and ended up killing himself (allegedly) with a shot of a bullet.
I find it fascinating because Ivar was not a small character in history but a very important one that played a significant role in building present-day Europe - whether lending money to Germany, France, or Poland. What he did was unfathomable - he bought governments by giving them very low-interest loans in favor of having a monopoly in certain industries, specifically the match industry (making matchboxes; at one point, Ivar Kreuger was controlling 3/4th of the whole world’s match industry). He was a hero & a villain at the same time; he gave lower-interest loans than JP Morgan and other financiers to help build Europe but created monopolies by leveraging crony capitalism.
Did he create an impact, or should he be compared to Charles Ponzi? Personally, I won’t do that. He created tangible businesses by creating monopolies and asked American investors to invest in creating monopolies; pre-second World War times were wild. He was a typical founder we hear and cherish daily - like Elon Musk and several Silicon Valley clowns, grow at all costs and fake it till you make it. That is precisely why I fear explosive or exponential growth, as that growth has embedded demons within that promote ego.
No matter how successful someone is, they are, in the end, the very same human; the essence is the same, even if they cover themselves with Glitter, Gold, and Gucci. I find Ivar a very similar man to many of us, with many insecurities, pride, ego, etc. We all need to overcome, even if you think you are creating an impact. If you think you are creating impact by building an impact enterprise, working in DEI, or investing. Be more skeptical than others who claim they don’t have any impact with work, and also be watchful of yourself, as it starts feeding us with ego, pride, and our own set of insecurities in the name of impact & activism.
I don’t believe we need effective altruists & activists who feel morally superior; we need gentle stoics, Taoists, and spiritually nourished people who don’t judge but spread love, gentleness, and care.
Don’t judge someone—that should be the first premise. Be empathetic to everyone, including humans, animals, and nature. I am not morally superior to anyone; I am on my journey to be a better human, which we all should try to be.
Trust me. I see similar financial frauds among so-called “mission-driven” entrepreneurship and impact investing. I sense similar ego and pride issues with families that allocate capital to impact. It is up to us and us only to go beyond our vices, live a virtuous life, and be good human beings. That should be the top priority, not to fill ourselves with the ego of the moral superiority of impact or money. There is so much to learn from Ivar Kreuger - especially what not to do, or your own perils will consume you.
Sign-off for humanity,
Sagar
Follow me on LinkedIn» https://www.linkedin.com/in/sagartandon/
Mail me at » sagar@idexaccelerator.com / sagar@firstfollowers.co
Stay humble, stay curious 🌟🌟🌟!
Note: These are my personal opinion.
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