Good to see one of the world's most important investors, Nicolai Tangen, CEO of Norway's $2T sovereign wealth fund, come out so strongly behind employee ownership. Timely too, since we've been advocating for the Canadian Federal government to make Canada's employee ownership tax incentive permanent in the upcoming Spring Economic Statement.
I'd argue he misses an important point, however. While employee ownership is always good for workers, majority employee ownership has the additional impact of changing the incentive structure of the company. This has huge implications. Some of the best success stories of employee-owned companies in the US are about how those companies kept workers during difficult economic times, sacrificing short-term cash flow for the long-term health of the company and the community. These are decisions that would never be made if the company was owned by outside investors.
Those companies have a tremendous track record of thriving after recessions, outperforming their peers who prioritized profitability during tough economic times. Long-term over short-term because of different incentives. That's what resilience looks like, and that's how to fix our extremely fragile economy.
Thanks to Delilah Rothenberg for writing about this and Graham Singh for sending it to me and Matthew Mendelsohn
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https://www.linkedin.com/posts/anifilipova_steve-jobs-was-asked-a-q...
Steve Jobs on the pause and building a team long term
Steve Jobs was asked a question.
He went silent for 17 seconds!!!
Watch the video - count them.
Can you imagine doing this yourself?
He says only two short sentences after that, which are everlasting, and yet, those of us with experience forget them all the time.
1. Think long term, not short term.
I know that in the time we are living, it is so tough to think this way.
But that's exactly why it is even more important.
The people around you aren't there to help you hit this year's number.
They are there to build something that lasts.
2. Don't fix the problem. Help the person fix it themselves.
If you want to be surrounded by people who can actually help you, you have to put in the work to help them learn and get better first.
Whether you're running a team of hundreds or starting something from scratch on your own — this is the shift.
https://www.linkedin.com/posts/jon-shell-8952491_good-to-see-one-of...
Jon Shell posting
Good to see one of the world's most important investors, Nicolai Tangen, CEO of Norway's $2T sovereign wealth fund, come out so strongly behind employee ownership. Timely too, since we've been advocating for the Canadian Federal government to make Canada's employee ownership tax incentive permanent in the upcoming Spring Economic Statement.
I'd argue he misses an important point, however. While employee ownership is always good for workers, majority employee ownership has the additional impact of changing the incentive structure of the company. This has huge implications. Some of the best success stories of employee-owned companies in the US are about how those companies kept workers during difficult economic times, sacrificing short-term cash flow for the long-term health of the company and the community. These are decisions that would never be made if the company was owned by outside investors.
Those companies have a tremendous track record of thriving after recessions, outperforming their peers who prioritized profitability during tough economic times. Long-term over short-term because of different incentives. That's what resilience looks like, and that's how to fix our extremely fragile economy.
Thanks to Delilah Rothenberg for writing about this and Graham Singh for sending it to me and Matthew Mendelsohn
https://www.linkedin.com/pulse/employee-ownership-isnt-just-perk-it...