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Questions and Answers

What is described as the 'original sin' of business?

Financial extraction (correct)

Innovation

Market competition

Profit maximization

What are the three layers of financial extraction mentioned?

Personal debt, corporate equity, international development loans (correct)

Corporate financing, personal savings, growth loans

Personal debt, international loans, corporate investments

Corporate equity, micro debt, macro debt

What measurement of national wealth is questioned in relation to achieving prosperity?

Unemployment rate

Gross Domestic Product (GDP) (correct)

Inflation rate

Economic growth rate

Which speaker posed the question about moving from exponential growth curves to flat ones?

Kate Raworth (A) Signup and view all the answers

What are the three components of the Silicon Valley model?

Capital, scale, exit (D) Signup and view all the answers

What type of financing includes seed funding and venture capital?

Equity financing (D) Signup and view all the answers

To what extent is venture capital perceived in the context mentioned?

It is overhyped (C) Signup and view all the answers

What does the discussion of growth curves imply about the traditional model of economy?

It can be sustainable without growth (B) Signup and view all the answers

What question does the content pose concerning thrive and growth in economics?

Can we design an economy to thrive rather than merely grow? (C) Signup and view all the answers

Which aspect of financial extraction is most directly related to individual experiences?

Micro: personal debt (C) Signup and view all the answers

What is suggested as a goal for platforms focused on activism?

To achieve financial self-sustainability (D) Signup and view all the answers

What is indicated as an ineffective way to engage with businesses?

Assuming they will be receptive (D) Signup and view all the answers

What do Eastern religions advocate regarding business practices?

Mindfulness and 'Right Livelihood' (C) Signup and view all the answers

What percentage of startups are reported to fail?

90% (B) Signup and view all the answers

What artistic approach is suggested in the context of business?

Being playful and avant-garde (C) Signup and view all the answers

What is implied by the analogy comparing startups to farmed chickens?

Startups are likely to be exploited. (A) Signup and view all the answers

How does the quote regarding leadership by Taoism characterize a good leader?

As someone whose presence is minimally felt (A) Signup and view all the answers

What role does science fiction play in the context of activism?

It imagines future possibilities and change (D) Signup and view all the answers

What is the impact of 'pump and dump' schemes on industries?

They disrupt the basic economics of industries. (C) Signup and view all the answers

What is a key concept associated with business and spirituality?

Aligning actions with ethical and spiritual values (A) Signup and view all the answers

What contributes to the inflated valuations of startups during funding rounds?

Funding rounds and stock price application (C) Signup and view all the answers

What does 'Fridays for Future' primarily focus on?

Environmental activism and climate change awareness (D) Signup and view all the answers

What phenomenon does the quote by John Maynard Keynes describe?

The relationship between speculation and enterprise. (C) Signup and view all the answers

Which of the following best describes the current state of many startups?

Operating as cashing-out shell operations. (C) Signup and view all the answers

Which statement reflects the critique of efficiency in business?

Efficiency overlooks playful and innovative approaches (D) Signup and view all the answers

Which of the following best captures the purpose of infiltrating power structures in business?

To influence change and promote activism (D) Signup and view all the answers

What was the valuation increase mentioned for Snapchat in May 2014?

$2 billion to $10 billion (D) Signup and view all the answers

Which term describes the practice of rapidly inflating value followed by selling off for profit?

Speculative bubble (C) Signup and view all the answers

What criticism does the startup ecosystem receive from the concept of mega investments?

They disrupt traditional business models. (C) Signup and view all the answers

What does the failure of 90% of startups suggest about their risk levels?

They have a high failure rate, indicating substantial risk. (A) Signup and view all the answers

What is one key principle associated with Christianity's approach to business?

Prioritizing social responsibility over financial gain. (C) Signup and view all the answers

What does Pope Francis criticize in his statement from Laudato Si?

The pursuit of profit as the sole driving force in economics. (A) Signup and view all the answers

Which of the following statements reflects the ancient Greek and Roman perspective on the concept of usury?

Usury is considered to be an unjust and unnatural business practice. (D) Signup and view all the answers

What is the primary idea behind the concept of the "Hero's Journey"?

A quest for personal growth and transformation. (B) Signup and view all the answers

How can entrepreneurs create "dramatic unity" in their business ventures?

By aligning their actions with their personal values and purpose. (C) Signup and view all the answers

What is the main message conveyed in the section on "Synchronicity and Scavenger Hunts"?

Finding a business idea involves a process of exploration and discovery. (B) Signup and view all the answers

Based on the text, which of the following is NOT an essential component of a business model that aligns with the principles discussed in the text?

A robust financial model projected for long-term profitability. (A) Signup and view all the answers

The text highlights a common misconception about entrepreneurship. What is it?

Starting a business requires a clear business idea from the beginning. (A) Signup and view all the answers

Which of the following themes is MOST prominent in the text?

The ethical and spiritual dimensions of business. (D) Signup and view all the answers

What is the primary message conveyed by the "Financial Extraction" section?

The negative consequences of prioritizing financial gain over social well-being. (B) Signup and view all the answers

Study Notes

Making Business Personal

This is a presentation topic about Post-Growth Entrepreneurship

Business as Activism

NGOs and Nonprofits face challenges with donations/subsidies
There's a need for self-sustaining activism platforms
Businesses often don't respond to activist pleas
Activism can be utilized to influence power structures through businesses

Business as Art

Business can be a mixed media art form
Avant-garde business approaches are possible
Efficiency isn't always crucial
Playful approaches to business are encouraged

Week 1 Assignment

The presentation mentions an assignment on "The Artist's Way" by Julia Cameron https://juliacameronlive.com/books-by-julia/the-artists-way-a-spiritual-path-to-higher-creativity/

Science Fiction as Activism

Science fiction envisions future worlds, acting as a form of activism

Business as Spirituality

Eastern Religions:
- Buddhism emphasizes "Right Livelihood" with Pema Chodron and Thich Nhat Hanh as guides
- Taoism stresses that a leader should be imperceptible when work is done by the followers
Semitic Religions
Christianity focuses on lending without expectation of return (Luke 6:35) and the importance of Pope Francis' Laudato Si
Ancient Greeks and Romans viewed usury as harmful, emphasizing the proper use of money for exchange

Business as Self Expression

Hero's Journey (12-step template by Joseph Campbell) is applicable to entrepreneurial stories
Entrepreneurs shape their narratives through actions rather than words
Entrepreneurial purpose should resonate with everyday operational strategies
Entrepreneurs can create stories of noble quests, avoiding tales of greed or tragedy
Synchronicity and Scavenger Hunts are important to new business ventures
- Entrepreneurs should seek quiet moments, acknowledge curiosities, and explore to learn
- Entrepreneurship is akin to a scavenger hunt, revealing clues in the process

Part II: Status Quo

The presentation section pertains to the current state of business, focusing on challenges in the system.

Questioning Business - Financial Extraction

The presentation explores 11th round financial extraction from the perspective of Bernhard Lietaer, extended by Charles Eisenstein in "Sacred Economics"
The presentation discusses the concept that business extraction is a problematic aspect of the current system.

Growth

Macroeconomic Growth is examined
- Includes the topic of Gross Domestic Product (GDP), considering why it's used to measure economic health of countries
- The concept of achieving prosperity without growth is examined with possible new growth models. The need to move from exponential growth curves to flat ones is posited.
Kate Raworth's TED talk about a healthy economy is discussed.

Silicon Valley

The presentation discusses components of the Silicon Valley business model
- Discusses Capital, Scale, Exit, and provides examples of these such as seed financing, VC rounds or scale implications.
It critiques the model, showing how profitability is often forsaken in favor of exits.

The Startup Ecosystem and Valuations

The presentation examines valuations of startups, comparing them with real-world scenarios like Kleiner Perkins' investment in Snapchat.

Pump and Dump

Startups' shift to being unprofitable shell companies for cashing-out is discussed as a problematic aspect of the business world
The presentation analyses how the business model of mega investments creates an environment conducive to artificial growth and a casino-like atmosphere.

Speculation and Enterprise

The presentation analyzes John Maynard Keynes' views on speculation and enterprise showing how speculation can destabilize serious business.

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Description

Explore the multifaceted approach to entrepreneurship that includes activism, art, and spirituality. This quiz covers key themes from 'The Artist's Way' and discusses how business can serve as a tool for social change. Delve into the relationship between creativity and sustainable business practices.