Overview

Ergodicity is the little-known secret underpinning the success of companies as diverse as Apple, Unilever, Mitsubishi, and Mondragon. We can use this today to enable businesses, from startups to mature businesses, thrive when their fundamentals are good; to enable investors get the RoI they deserve; and to enable businesses to deliver net positive outcomes across all SDGs, including climate change, biosphere depletion, and society. We currently don't have this because of a 350 year old simplifying, and usually false, assumption in economics and business. This assumption is called ergodicity. But business is seldom ergodic. This book tells you how to calculate business plans correctly, what to do to maximise your chances of success as an investor or entrepreneur, and especially how to make delivering net positive, circular, regenerative, etc. outcomes without compromise.

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9781913629199

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Reviews

"Most thoughtful observers understand the capital formation process of our economy is broken. Few understand how the flawed statistics lying at the foundation of ""high finance"" has led us astray. Perhaps only Boyd and Reardon can illuminate how ergodic thinking shines a light on the path to a prosperous future by aligning our finance with the complexity of how all living systems actually work: in dynamic balance, collaboratively. John Fullerton, Founder Capital Institute, author Regenerative Capitalism If sustainable, net positive business is the right path (for business and society), why is it difficult? Why doesn't it happen naturally and what stands in the way? To answer that core question, Graham and Jack lay out a flaw they see in how businesses and investments are managed. A more optimal path is possible, but requires a new understanding of the dynamics of capital in business, they say, and they show how to invest and build for both net positive and profitability in ways that seem impossible today. Andrew Winston, Sustainability thought leader and best-selling author (co-written with Paul Polman) of Net Positive Business must become a true collaborative citizen delivering on society's needs today. To do so business needs to recognise the inherent nonlinearity and path-dependence of all living systems, including business itself. Graham and Jack's work on non-ergodicity in business is an important contributing voice. Their ergodic investment strategy allows unpredictability to become an integral part of business strategy. Ebru Kaya, Tanuja Prasad; Founders of Regenerative Investing Theory and Community of Practice There is tendency among decision-makers to focus on predictable developments by either making unpredictable future trajectories predictable or assuming unpredictability away. Graham Boyd and John Reardon correctly argue that unpredictability is the essence of life, and cannot be removed. Luckily, they show how unpredictability can be front and center of strategy. We need to use our collective imagination by embracing science fiction strate\-gies for making impactful decisions in life and business. A must read! Meelis Kitsing, Rector and Professor of Political Economy, Estonian Business School The Ergodic Investor and Entrepreneur is a thought-provoking and insightful read that provides valuable advice and guidance for anyone looking to succeed in the future world of investing and entrepreneurship. Graham and Jack draw on his extensive experience to introduce the concept of ergodicity, which emphasizes the importance of understanding the long-term probabilities and risks associated with investments and entrepreneurial ventures. A refreshing angle in this our increasingly volatile world. Bárbara Leão de Carvalho, PhD We need to fundamentally rethink our investment paradigms, if capital markets are to play a more important role in financing transformative solutions to the world's biggest challenges. This book provides fresh insights about how capital providers across all asset classes can better leverage unpredictability and make use of new business opportunities in systemic investing. Anja-Nadine König, Founder and Director of Social Impact Markets, Transformative Finance Expert We've entered times in which virtually everything is changing. Business sometimes leads adaptation to this change\textemdash but from a science perspective, business is often incredibly slow to question the basic framing. For everyone who wants to understand business, and the economy of the future, this book is a great paradigm-shift. Phoebe Barnard, Affiliate Professor, Univ Washington, Associate, Univ Cape Town; CEO, Stable Planet Alliance; former"

"Most thoughtful observers understand the capital formation process of our economy is broken. Few understand how the flawed statistics lying at the foundation of ""high finance"" has led us astray. Perhaps only Boyd and Reardon can illuminate how ergodic thinking shines a light on the path to a prosperous future by aligning our finance with the complexity of how all living systems actually work: in dynamic balance, collaboratively. John Fullerton, Founder Capital Institute, author Regenerative Capitalism If sustainable, net positive business is the right path (for business and society), why is it difficult? Why doesn't it happen naturally and what stands in the way? To answer that core question, Graham and Jack lay out a flaw they see in how businesses and investments are managed. A more optimal path is possible, but requires a new understanding of the dynamics of capital in business, they say, and they show how to invest and build for both net positive and profitability in ways that seem impossible today. Andrew Winston, Sustainability thought leader and best-selling author (co-written with Paul Polman) of Net Positive Business must become a true collaborative citizen delivering on society's needs today. To do so business needs to recognise the inherent nonlinearity and path-dependence of all living systems, including business itself. Graham and Jack's work on non-ergodicity in business is an important contributing voice. Their ergodic investment strategy allows unpredictability to become an integral part of business strategy. Ebru Kaya, Tanuja Prasad; Founders of Regenerative Investing Theory and Community of Practice There is tendency among decision-makers to focus on predictable developments by either making unpredictable future trajectories predictable or assuming unpredictability away. Graham Boyd and John Reardon correctly argue that unpredictability is the essence of life, and cannot be removed. Luckily, they show how unpredictability can be front and center of strategy. We need to use our collective imagination by embracing science fiction strategies for making impactful decisions in life and business. A must read! Meelis Kitsing, Rector and Professor of Political Economy, Estonian Business School The Ergodic Investor and Entrepreneur is a thought-provoking and insightful read that provides valuable advice and guidance for anyone looking to succeed in the future world of investing and entrepreneurship. Graham and Jack draw on his extensive experience to introduce the concept of ergodicity, which emphasizes the importance of understanding the long-term probabilities and risks associated with investments and entrepreneurial ventures. A refreshing angle in this our increasingly volatile world. Bárbara Leão de Carvalho, PhD We need to fundamentally rethink our investment paradigms, if capital markets are to play a more important role in financing transformative solutions to the world's biggest challenges. This book provides fresh insights about how capital providers across all asset classes can better leverage unpredictability and make use of new business opportunities in systemic investing. Anja-Nadine König, Founder and Director of Social Impact Markets, Transformative Finance Expert We've entered times in which virtually everything is changing. Business sometimes leads adaptation to this change but from a science perspective, business is often incredibly slow to question the basic framing. For everyone who wants to understand business, and the economy of the future, this book is a great paradigm-shift. Phoebe Barnard, Affiliate Professor, Univ Washington, Associate, Univ Cape Town; CEO, Stable Planet Alliance"

Author Information

Graham Boyd believes that we can rise, phoenix-like, from today's burning global challenges. All of us, and our children, can thrive in the coming decades, because we can build a regenerative global economy, an ecosystem of regenerative businesses. Today he applies the expertise gathered across three careers (particle physicist, manager with Procter and Gamble, serial startup founder) to bring that vision to reality. He deploys ergodic strategies in his work incubating regenerative startups; building a seed stage investment fund for ergodic ecosystems of regenerative startups; and consults to multi-nationals and start-ups. Jack Reardon: with a doctorate in economics, I have become a tireless advocate of reforming and reconceptualizing economics education so that the discipline of economics can help solve the world's numerous and interconnected problems. I am the founding editor of the International Journal of Pluralism and Economics Education IJPEE, which provides a global forum for educators committed to changing how we educate our students and how we conceptualize economics. I have also written three books on economics, pluralism, and economics education. I am currently putting the finishing touches on a novel exploring the fluidity of gender. I currently teach economics at the University of Wisconsin-Eau Claire.

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