Throwing Rocks at the Google Bus: How Growth Became the Enemy of Prosperity (31 page)

20
. Joseph A. Schumpeter,
Capitalism, Socialism and Democracy
, 3rd ed. (New York: Harper Perennial, 2008).

21
. “Worldwide Revenue of Major Toy Companies in 2012 (in Million U.S. Dollars),” statista.com, 2015.

22
.
Media Squat
, WFMU, June 8, 2009.

23
. Megan Rose Dickey, “We Talked to Uber Drivers—Here’s How Much They Really Make,” businessinsider.com, July 18, 2014.

24
. Aaron Sankin, “Why New York Taxis Are Powerless Against Uber’s Price War,” dailydot.com, July 8, 2014.

25
. Don Jergler, “Transportation Network Companies, Uber Liability Gap Worry Insurers,” insurancejournal.com, February 10, 2014.

26
. Tim Bradshaw, “Uber’s Tactics Pay Off as It Goes Head to Head with US Rival,” ft.com, September 11, 2014.

27
. Fred Wilson, “Platform Monopolies,” avc.com, July 13, 2014.

28
. David Streitfeld, “Amazon, a Friendly Giant as Long as It’s Fed,” nytimes.com, July 12, 2014.

29
. Venkatesh Rao, “Why Amazon Is the Best Strategic Player in Tech,” forbes.com, December 14, 2011.

30
. Elvis Picardo, “Apple? Google? Tesla? Which Will Be the First to Reach a $1 Trillion Market Cap?,” investopedia.com, July 7, 2014.

31
. Wilson, “Platform Monopolies.”

32
. Josh Constine, “Hail a Fellow Human, Not a Taxi with ‘Sidecar’—The New P2P Uber,” techcrunch.com, June 26, 2012.

33
. Wilson, “Platform Monopolies.”

34
. Betsy Corcoran, “Blackboard’s Jay Bhatt Strikes Up the Brass Band,” edsurge.com, July 23, 2014.

35
. Justin Pope, “E-Learning Firm Sparks Controversy with Software Patent,” washingtonpost.com, October 15, 2006.

36
. withknown.com.

37
. Carlota Perez,
Technological Revolutions and Financial Capital
(Cheltenham, England: Edward Elgar Press, 2002).

38
. Thomas Piketty,
Capital in the Twenty-First Century,
trans. Arthur Goldhammer (Cambridge, Mass.: Belknap Press, 2014).

39
. Mario Preve, quoted in Ernst & Young and Family Business Network International, “Built to Last: Family Businesses Lead the Way to Sustainable Growth” (n.p.: Ernst & Young Global Limited, 2012), www.ey.com/Publication/vwLUAssets/EY-Built-to-last-family-businesses-lead-the-way-to-sustainable-growth/$FILE/EY-Built-to-last-family-businesses-lead-the-way-to-sustainable-growth.pdf.

40
. Nicolas Kachaner, George Stalk, and Alain Bloch, “What You Can Learn from Family Business,”
Harvard Business Review,
November 2012.

41
. Yoko Kubota and Maki Shiraki, “After Two Bumper Years, Toyota Braces for Shift to Slower Growth,” reuters.com, April 15, 2014.

42
. Ibid.

43
. pgconnectdevelop.com.

44
. Larry Huston and Nabil Sakkab, “Connect and Develop: Inside Procter & Gamble’s New Model for Innovation,”
Harvard Business Review,
March 2006.

45
. “Connect + Develop History,” ConnectDevelop, YouTube, August 16, 2012.

46
. Huston and Sakkab, “Connect and Develop.”

47
. “Procter & Gamble Re-ignites Growth—XBD & Open Innovation Make It Happen,” federicibusiness.com, 2008.

48
. “Febreze Embracing C+D to Become a Billion $ Brand,” pgconnectdevelop.com, January 1, 2013.

49
. Clark Gilbert, Matthew Eyring, and Richard N. Foster, “Two Routes to Resilience,”
Harvard Business Review,
December 2012.

50
. Field Maloney, “Is Whole Foods Wholesome?” slate.com, March 17, 2006.

51
. Lynn Forester de Rothschild, “Capitalists for Inclusive Growth,” project-syndicate.org, April 17, 2013.

52
. Ibid.

53
. Ibid.

54
. Steven Pearlstein, “How the Cult of Shareholder Value Wrecked American Business,” washingtonpost.com, September 9, 2013.

55
. Oliver Staley and Hui-Yong Yu, “Hilton Sells Itself to Blackstone for $20 Billion,” bloomberg.com, July 4, 2007.

56
. Henry Sender, “How Blackstone Revived Hilton Brand,” ft.com, August 19, 2013.

57
. David Gelles, “A Surprise from Hilton: Big Profit for Blackstone,” nytimes.com, December 12, 2013.

58
. Nanette Byrnes and Peter Burrows, “Where Dell Went Wrong,” businessweek.com, February 18, 2007.

59
. Ashlee Vance, “Why Michael Dell Really Had to Take Dell Private,” businessweek.com, February 5, 2013.

60
. Mary Ellen Biery, “Why Michael Dell’s Fight Makes Sense,” forbes.com, August 11, 2013.

61
. Ibid.

62
. Connie Guglielmo, “Dell Officially Goes Private: Inside the Nastiest Tech Buyout Ever,” forbes.com, October 30, 2013.

63
. Lindsey Rupp, Carol Hymowitz, and David Carey, “Drexler Amasses $350 Million as J. Crew Struggles,” businessweek.com, June 13, 2014.

64
. Ibid.

65
. Lindsey Rupp, “J. Crew Profits Fall as Company Considers Going Public Again,” bloomberg.com, March 25, 2014.

66
. Paula Kepos,
International Directory of Company Histories
, vol. 7 (Farmington Hills, Mich.: St. James Press, 1993), per “Amsted Industries Incorporated History” entry on fundinguniverse.com.

67
. “The Employee Ownership 100: America’s Largest Majority Employee-Owned Companies,” National Center for Employee Ownership, nceo.org, June 2014.

68
. Brian Solomon, “The Wal-Mart Slayer: How Publix’s People-First Culture Is Winning the Grocer War,” forbes.com, July 24, 2013.

69
. Sabri Ben-Achour, “Groceries: A Low Margin Business, but Still Highly Desirable,” marketplace.org, September 12, 2013.

70
. Derek Ridgway, “Flexible Purpose Corporation vs. Benefit Corporation,” hansonbridgett.com, September 4, 2012.

71
. “Inc. 5000,” inc.com, September 6, 2013.

72
. Ariel Schwartz, “Inside Plum Organics, the First Benefit Corporation Owned by a Public Company,” fastcoexist.com, January 22, 2014.

73
. Marc Gunther, “Checking In with Plum Organics, the Only B Corp Inside a Publicly Traded Company,” theguardian.com, August 6, 2014.

74
. Ridgway, “Flexible Purpose Corporation vs. Benefit Corporation.”

75
. Kyle Westaway, “PROFIT + PURPOSE—Structuring Social Enterprise for Impact,” slideshare.net, March 6, 2012.

76
. Cameron Scott, “Tiny AI Startup Vicarious Says It’s Solved CAPTCHA,” singularityhub.com, October 29, 2013.

77
. vicarious.com/about.html.

78
. Westaway, “PROFIT + PURPOSE.”

79
. Citizen Media Law Project, “Primer on Low-Profit Limited Liability Companies (L3Cs),” Berkman Center for Internet & Society at Harvard University, October 2010.

80
. homeportneworleans.org.

81
. battle-bro.com/.

82
. Donnie Maclurcan and Jennifer Hinton, “Beyond Capitalism: Not-for-Profit Business Ethos Motivates Sustainable Behaviour,” theguardian.com, October 1, 2014.

83
. “Exemption Requirements—501(c)(3) Organizations,” irs.gov, January 8, 2015.

84
. John Tozzi, “Turning Nonprofits into For-Profits,” businessweek.com, June 15, 2009.

85
. “Mozilla Foundation Announces Creation of Mozilla Corporation,” mozillazine.org, August 3, 2005, per Wayback Machine at archive.org/web/.

86
. “Articles of Incorporation of M. F. Technologies,” static.mozilla.com, July 14, 2003.

87
. www.linkedin.com/company/mozilla-corporation, 2015.

Chapter Three: The Speed of Money

1
. U.S. Department of the Treasury, “History of ‘In God We Trust,’” treasury.gov, March 8, 2011.

2
. Christopher Simpson,
Science of Coercion: Communication Research & Psychological Warfare 1945–1960
(Oxford: Oxford University Press, 1996).

3
. Luca Fantacci, “The Dual Currency System of Renaissance Europe,”
Financial History Review
15, no. 1 (2008).

4
. Carlo M. Cipolla,
Before the Industrial Revolution: European Society and Economy, 1000–1700
, 3rd ed. (New York: W. W. Norton, 1994).

5
. Ibid.

6
. Ibid.

7
. Douglas Rushkoff,
Life Inc.: How Corporations Conquered the World, and How We Can Take It Back
(New York: Random House, 2009), 164.

8
. Ibid., 8–10.

9
. Ibid., 167–70.

10
. Bernard A. Lietaer and Stephen M. Belgin,
Of Human Wealth: Beyond Greed & Scarcity
(Boulder, Colo.: Human Wealth Books and Talks, 2001), 111.

11
. For a more detailed discussion of this basic principle, see Thomas H. Greco,
Understanding and Creating Alternatives to Legal Tender
(White River Junction, Vt.: Chelsea Green Publishing Co., 2001).

12
. Rushkoff,
Life Inc.
, 170–71.

13
. Michael Konczal, “Frenzied Financialization,” washingtonmonthly.com, November/December 2014.

14
. Thomas Piketty,
Capital in the Twenty-First Century,
trans. Arthur Goldhammer (Cambridge, Mass.: Belknap Press, 2014).

15
. Robert Slater,
Jack Welch and the GE Way
(New York: McGraw-Hill, 1998).

16
. Ben Steverman, “Manipulate Me: The Booming Business in Behavioral Finance,” bloomberg.com, April 7, 2014.

17
. Morgan House, “5 Alan Greenspan Quotes That Make You Wonder,” fool.com, October 15, 2008.

18
. Michael Lewis,
The Big Short: Inside the Doomsday Machine
(New York, London: W. W. Norton, 2011).

19
. Naomi Klein,
This Changes Everything: Capitalism vs. the Climate
(New York: Simon and Schuster, 2014).

20
. John Stuart Mill,
Principles of Political Economy with Some of Their Applications to Social Philosophy
(London: Longmans, Green and Co., 1909), IV.6.2.

21
. Ibid., IV.6.7.

22
. David Dayen, “America’s Ugly Economic Truth: Why Austerity Is Generating Another Slowdown,” salon.com, October 21, 2014.

23
. David Wessel, “Lousy Economic Growth Is a Choice, Not an Inevitability,” brookings.edu, October 13, 2014.

24
. Bernard Lietaer and Jacqui Dunne,
Rethinking Money: How New Currencies Turn Scarcity into Prosperity
(San Francisco: Berrett-Koehler Publishers, 2013).

25
. Joanna Glasner, “PayPal’s IPO Woes Continue,”
Wired
, February 12, 2002.

26
. In most of the world, that would be SWIFT.

27
. Satoshi Nakamoto, “Bitcoin: A Peer-to-Peer Electronic Cash System,” bitcoin.org, October 31, 2008.

28
. Ibid.

29
. Pedro Franco,
Understanding Bitcoin: Cryptography, Engineering and Economics
(New York: John Wiley & Sons, 2014)
.

30
. Ibid.

31
. Andreas M. Antonopoulos,
Mastering Bitcoin: Unlocking Digital Cryptocurrencies
(Sebastopol, Calif.: O’Reilly Media, 2014).

32
. Franco,
Understanding Bitcoin
.

33
. Antonopoulos,
Mastering Bitcoin
.

34
. Rob Wile, “The Chinese Are in Love with Bitcoin and It’s Driving the Digital Currency’s Prices into the Stratosphere,” businessinsider.com, October 29, 2013.

35
. Rebecca Grant, “A Single Bitcoin Was Worth $10 a Year Ago—Today It’s Worth $1,000,” venturebeat.com, November 27, 2013.

36
. Robert McMillan, “The Inside Story of Mt. Gox, Bitcoin’s $460 Million Disaster,” wired.com, March 3, 2014.

37
. Ryan Lawler, “Bitcoin Miners Are Racking Up $150,000 a Day in Power Consumption Alone,” techcrunch.com, April 13, 2013.

38
. Mark Gimein, “Virtual Bitcoin Mining Is a Real-World Environmental Disaster,” bloomberg.com, April 12, 2013.

39
. Michael Carney, “Bitcoin Has a Dark Side: Its Carbon Footprint,” pando.com, December 16, 2013.

40
. Lawler, “Bitcoin Miners Are Racking Up $150,000 a Day.”

41
. Jon Evans, “Enter the Blockchain: How Bitcoin Can Turn the Cloud Inside Out,” techcrunch.com, March 22, 2014.

42
. Vitalik Buterin, “DAOs, DACs, DAs and More: An Incomplete Terminology Guide,” blog.ethereum.org, May 6, 2014.

43
. David Johnston, Sam Onat Yilmaz, Jeremy Kandah, Nikos Bentenitis, Farzad Hashemi, Ron Gross, Shawn Wilkinson, and Steven Mason, “The General Theory of Decentralized Applications, Dapps,” github.com, June 9, 2014.

44
. Nakamoto, “Bitcoin: A Peer-to-Peer Electronic Cash System.”

45
. National Patient Advocate Foundation, “Issue Brief: Medical Debt, Medical Bankruptcy and the Impact on Patients,” npaf.org, September 2012.

46
. Dan Mangan, “Medical Bills Are the Biggest Cause of US Bankruptcies: Study,” cnbc.com, June 25, 2013.

47
. National Patient Advocate Foundation, “Issue Brief: Medical Debt, Medical Bankruptcy and the Impact on Patients.”

48
. rollingjubilee.org.

49
. Interview with Astra Taylor, cofounder of Strike Debt and the Rolling Jubilee, conducted by e-mail, July 24, 2015.

50
. “A Look Back at the 2012 ABA Indie Impact Study Series,” localismbythe numbers.com, June 11, 2014.

51
. Justin Sacks,
The Money Trail: Measuring Your Impact on the Local Economy Using LM3
(London: New Economics Foundation & the Countryside Agency, December 2002).

52
. “A Look Back at the 2012 ABA Indie Impact Study Series.”

53
. Bill McKibben, “A Day in the Life of a BerkShare,” yesmagazine.org, October 18, 2010.