Hi Steve,
I just came across your blog and found it quite amazing... in fact, I was having a discussion about "how is money made" with some business associates, and we abstracted the ways of making money out to almost exactly the ones you mentioned in "how to earn money", yet its insightful to see that it all boils down to the two classes: contributors vs moochers.
So I'd like your thoughts on a few things..
1) You mentioned that social value is a function of supply and demand.
I'd be curious to assign a more precise definition to the phrase "social value" and try to more fully determine what else a social value might be a function of. Have you expanded on that in any other posts, or do you have any more thoughts (or suggested readings) on the subject?
2) The time dependance of "social value"
If we look at society as a huge mass, we see short term trends and long term trends. If we use an analogy of the stock market, the perceived "social value" of a stock can change rapidly due to critical events, because of the perceived effects of those events. Lone term changes in price happen because of more slowly changing factors that a day trader for example, might not be aware of or care about.
On the same token, I imagine there are factors that affect the "imediately perceived social value", and the "long term social value" in society, the long term value being correlated with the overall health of the group - (for example unemployment, strong economy, etc..)
In writing this, I ask myself a few questions:
- How does society reward contributions to long term value, in comparison with contributions to short term value? - (Is $100 of short term value worth $98 of long term value?)
- How can we determine the dynamics, or factors, which affect these two different value domains?
- What other ways can we classify types of "social value"?
All of this leads up to point 3
3) Robin Hood effects of social value
Situation:
So I'm starting to figure out what I want to accomplish in life, and I'm realizing that its going to take alloooott of money to do it. I'm currently a pHd student studying quantum physics. I also work with another group of people who are entreprenurially motivated, and we will soon start a business, and hopefully do well
Personal Value:
I personally believe that physics is one of the most important things that concerns us. I want to eventually create an institution that heavily funds research in fundamental issues of physics (such as the
Perimiter Institute which was created by the blackberry founder), and eventually branch out to other domains of science.
Social Value:
Long Term - In the long run, scientific research and progress has a tremendous "social value". Scientific discoveries improve our quality of life, and even help advance the very evolution of our species
Short Term - On the short term, there's much less "perceived social value" for studying the problems of gravitation, abstract mathematics, and investing tons of money in abstract scientific tools that will never directly affect the majority of people living today.
Question: How does one work at the intersection of their personal values and social values, when the social values themselves aren't even coherent within a given time scale? (technology today vs. fundamental research for tomorrow, for ex.)
Now my plan was basically..
1) start a company
2) create something of immediate social value, exchange for money
3) use money to pay for personal values (science - ie. long term social values)
I'd like to hear other approaches though..
Thanks, Sorry for the long post
-Sidney