Thursday, 18 January 2024 04:28

Young people virulently opposed to capitalism will soften stance on this one condition - Report

Rate this item
(0 votes)

Business leaders in Davos this week discussed a new Fast Company survey in which some participants said they reacted negatively to the word capitalism.

People under the age of 40 are more negative about capitalism than their older counterparts, according to a recent survey from Fast Company. But these younger generations aren’t defined simply by a story of “just complete anti-capitalism,” argues Megan Holston-Alexander, a partner at Andreessen Horowitz. Rather, they’ll be more excited about the future if they feel like they’re included and have ownership in the companies they help to build and grow.

“We think participation in a capitalist culture as a consumer, an investor, or as talent is really important,” Holston-Alexander said Tuesday during a panel discussion hosted by Fast Company at the annual meeting of the World Economic Forum in Davos, Switzerland.

She heads up the firm’s cultural leadership fund, which is dedicated to creating Black wealth generation. Including different voices and points of view—and reimagining educational requirements to get in the door—will offer a competitive edge, she added.

But before a new group of leaders can transform the future of capitalism, today’s corporate leaders need to do a better job of building trust.

“There may be this fear of capitalism or distrust of capitalism, but I think part of that distrust and how we alleviate some of that distrust is by creating trust and creating credibility and creating openness,” said Rima Qureshi, the chief strategy officer of Verizon and the deputy chair of the Edison Alliance.

Communicating how companies are effective at solving problems also helps to engender trust, said Anthony Tan, the cofounder of Grab, a Singapore-based superapp that encompasses delivery and ride-hailing, along with financial services and mapping. That’s especially important in reaching younger generations—be it employees or customers—who are “high truth-seekers” and want information that’s clear, upfront, and honest, he added.

Finally, the future of capitalism depends on disruption—and both big business and entrepreneurs need to embrace change, noted Florian Hoffman, founder and CEO of The DO School.

“I think what really will change and needs to change is the question of what’s a valuable company? How do we talk about value when we talk about a company?” he asked. “We have to acknowledge that there isn’t a joint story and narrative anymore of what good looks like in the future and what capitalism means.”

 

Fast Company

April 17, 2025

How to develop a healthy relationship with money, from a financial therapist

Feelings around money tend to drive a good deal of financial decision making, experts say.…
April 17, 2025

Afenifere accuses Tinubu of ‘destructuring’ Nigeria, demands urgent reforms

Pan-Yoruba socio-political group, Afenifere, has criticized President Bola Tinubu’s administration, accusing it of dismantling the…
April 16, 2025

A strategy to get more done—and feel less stressed

For some people, the expression “You have as many hours in the day as Beyoncé”…
April 06, 2025

Excavation near site where Jesus was crucified and buried results in ancient discovery

Proof of an ancient garden, consistent with biblical scripture, has emerged at the holiest site…
April 17, 2025

Terrorists kill 144 in Plateau, Benue in 14 days, Vanguard reports

No fewer than 144 persons have been killed by herdsmen in the two north central…
April 17, 2025

What to know after Day 1148 of Russia-Ukraine war

RUSSIAN PERSPECTIVE France helped Zelensky write apology letter to Trump – Politico French diplomats reportedly…
April 15, 2025

Is it finally safe to ditch your phone case? I put it to the test

Thomas Germain With smartphones tougher than ever, a new wave of phone minimalists say cases…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2025 NewsScroll. All rights reserved.