David Ding: Regeneration
David Ding's podcast, documenting the revelations he had while awakeing to unity consciousness and holographic awareness.
For written summaries of each episode check out David's substack:
https://daviddingnz.substack.com
David Ding: Regeneration
The Nature of Autonomy (Part 2)
Ever wondered what it's like to have a paid job with a guaranteed income that provides an opportunity to have full autonomy? In this episode I explore the combination of autonomy and consentual intervention and how this can work within an organisation that takes a portfolio approach to appreciating its talent and other assets.
I then explore the world of portfolio management and how a fund of funds that adheres to a principle of principles can enable each fund within the portfolio to ride the stormy waves of market fluctuations specific to its industry.
In this engaging narrative, I bring my personal experiences to the fore, recounting my journey of designing and building autonomous teams using this approach.
Finally I look at how to collaboratively design and agree standards in context of a portfolio approach to running a business unit and how this can catalyse a thriving autonomous culture without having to initiate or contend with radical change.
Gear up for this enlightening discussion that will likely change the way you perceive the nature of autonomy for the better.
Contact David Ding
Thanks for listening!
Okay. So this one is about the nature of autonomy. Now, this one's been brewing for a while. I've been waiting for the right time to to speak on this and now is the right time. It's really timely because we just had elections in New Zealand. We've, it's inevitable, we've got a new government coming in. We're not sure whether there's gonna be a coalition yet because the special votes haven't been counted and it was my last day with a government agency on Friday.
Speaker 1:Some of you know I've been working as an innovation advisor at Callahan innovation and commercialization team, working with founders of bleeding edge innovation to help them commercialize it, line them up with capital raising and all that kind of stuff. You know advising the boards, advising the ELT's and it's been one of the great privileges of my life I can say that unreservedly the caliber of the people there, the devotion to the mission and Just the humanity of the people and the way that they work. You know the startup space isn't what you see. You posted on LinkedIn all the time with successful Capital raises. You know it's strewn with distressed assets, burnt out founders. You know version 188 of a pitch deck and you know a very small percentage of people in that space successfully, you know, deliver product market fit and continually accomplish stage missions to unlock Further capital and the learning required, even to open these doors. It's significant, and so what I want to say is, first of all, my heartfelt gratitude to Callahan innovation, a phenomenal organization, and the caliber of the people is Unlike anything I've ever experienced in my life. I've never seen such a depth of expertise and skills, and when you combine that with the equipment, the plant, you know, the buildings and the culture, everything that has come before, it's truly a diamond in the rough and, to my mind, one of a New Zealand's most precious assets.
Speaker 1:And what I want to speak about now is how woefully we are, as a nation, of Leveraging the value of the assets contained within this organization and I mean I'm mainly meaning the people. And the reason, you know this is apt right now is because of autonomy. It's because of autonomy, you know, we've got a national government coming in in New Zealand with act. You know act are fully in support of Greater autonomy for the individual, which means less intervention by government. However, what I want to share with you is is a is a concept for autonomy portrayed in a slightly different way, in terms of a hybrid of autonomy and intervention. Now, of course, of course, those of you that know me and listen to this podcast know that I'm big time into paradox and ternary thinking, and so, when I share, what I want to share with you is my perspective on autonomy and how true autonomy Can be achieved through a symbiosis of a Guard rail of intervention, whereby autonomy is a privilege that is earned Through trust. And so, hopefully, that set the scene, and you know I wanted to spell some myths around how. You know, decentralization of authority requires massive upheaval and massive radical change, and Radical decentralization just swinging the pendulum in the other direction is what's going to solve the problem.
Speaker 1:We see that centralized authority is the root cause of our suffering. You know, we live in fear in our daily lives. We don't trust ourselves to be able to provide for ourselves, to take care of ourselves wholly. We know we have to depend on trusted third parties. However, paradoxically, we want less and less intervention by government. Now, if you want a benevolent authority that you can trust, then you're you actually want it to intervene and Take responsibility for aspects of your care. And so you can see, in a binary system where it's a zero sum game, it's either this or that. It's either social or economic, it's either. It's either research driven or commercially driven. But no, it doesn't have to be that way. It doesn't have to be a zero sum game. It can be symbiotic and, in truth, that baseline that we're looking for we're of self-responsibility and intervention based on, you know, agreed Markers For it, for the point of intervention is actually what we want. What we're actually seeking is trusted third parties.
Speaker 1:And if we are unable to trust those third parties because there's only one option, as an example, you know, I think you know the you know there are certain entities that issue accreditation. For you know, as an example, in the medical sector, you know, if you're a psychologist, there's a, there's a single regulatory standard. Or in certification that you need to be able to practice and derive an income. There are no other standards challenging these single options. So we were devoid of Alternative choices. We have utter dependency and there's no competition to spur innovation. You see to, there's no motivation for these institutions to innovate and to get better. They can, they set and maintain a standard, but they know that they're not going to be knocked off their perch because it's institutional, it's the only choice, and so that creates scarcity and Stagnation and all the rest of it. So autonomy.
Speaker 1:What I'm presenting today is hybrid, so I think that's a good thing. Today is hybrid of centralized and decentralized Authority, where sovereignty, individual sovereignty is the de facto standard, it is the power that stands above all else, but where there is a mechanism For an individual to then defer their authority willfully To a trusted third party who is empowered to intervene. You see, he was empowered to intervene and so, rather than radical disruption, we can introduce these things now, and I've experimented in many different jobs I've had in the past. You know, typically in my career, I found myself, as you know, leading at large sales teams, leading the sales Department of an organization, typically with some marketing, typically with some procurement, product development and looking after that business unit, as you know, looking after the P&L for that unit, and so when you have that snapshot view, when you have, when you can zoom out and look at everything as separate. But it also is a system designed really to create wealth, perpetually generate wealth, and From my perspective, of course, I'm constantly Investing myself into it in ways that enable it to become truly autonomous.
Speaker 1:Now, but what you, what you discover very, very quickly, is that if you want something to self-perpetuate, it has to self-regulate. It has to self-regulate which means there has to be there have to be limiters put in place, and I'll give you a, give you a real simple example. So, in when I first began experimenting with this, it was in a sales driven organization. You know you have, you have sales targets, you get the, the annual number, break it down into months, break it down into a daily average and every single day is a daily average number that we want, we want to hit as an organization and, very simply, I am viewed a culture into that team whereby you are wholly responsible for that number. So your portfolio manager, you got a portfolio of assets. Your portfolio has to yield and our in the yield was a 10% increase month on month. 10% increase month on month was a target. Now we, you know when you summed it up, but it it average doubted 11.5% compounding month on month, and we always hit it once. Once the unit is running autonomously and it's self-regulating, it will perpetually compound wealth.
Speaker 1:In my experience you know I'm not saying this is you can be universally adopted. My hope is that it can be, but I don't know that for sure. But how it works is there's an agreement with the portfolio manager where you're saying that, scientifically, we know that if you call 30 of your clients a day, and even if you do a really terrible job of understanding the asset, of getting in behind it and identifying the pain points and working with them to create solutions for them to transcend that pain and then pay for the privilege, even if you do a poor job of that, we know that if you make contact with 30 of them in a day, the likelihood of you hitting your target is something like 90%. So we've got the statistics. The statistics. You know that typically the best predictor of future performance is past performance. And so you know, crystal ball gazing. We believe that if you contact 30 of your clients in a really poor way, you'll probably still hit your target. And so you have an agreement with the individual.
Speaker 1:You treat them like a sovereign human being and you say do you agree to this number? Yes, I agree to this number. Do you agree to take responsibility for hitting that number? Yes, I do. Okay, and so do you agree that, if you are not forecasting to deliver that number, that if you fall behind in your forecast, that you agree to adhere to a mutually agreed standard that if your forecast hits below a 10% yield, then you will commit to contacting 30 of your clients as a minimum standard. Yes, that's more than reasonable. So what that means is, if you're forecasting to do 20% above your target, then you have full autonomy. You have full, total autonomy.
Speaker 1:I don't care if you do one call a day, I don't care if you do no call the day, I don't care if you're in a spa, I don't care if you take the day off. You are the steward of that portfolio. Now I know from experience many years experience of managing portfolio managers that when they pegged off, there will be a compressed moment in time whereby they'll have to do 60 calls in a day. You see, you come to learn this, but when people are empowered and they're self-responsible, they'll do 70 calls in that compressed window of time. If they've taken two days off because they were forecasting 20% ahead, they are devoted to delivering that number. They don't actually care about the standard. They're responsible for delivering the number and I can tell you that that's not a privilege they take lightly and it's not a privilege they want to lose.
Speaker 1:But underlying this is the understanding that, yes, it is a privilege. Why is it a privilege? Because it's a company that has delegated authority. It's a company that has delegated authority. There's a constitution containing the will of the founders, the stakeholders. The will is enacted by the board, the strategy is developed by the executive leadership team, possibly the board as well, involvement maybe under the stewardship of the chair, and the agency is delegated. And this is really important to understand.
Speaker 1:Although the essentialised authority, although it's a centralised entity, it's a company, you can still have it run wholly autonomously and you can still honour the sovereignty of the individual. And it's just an understanding of dynamic that a human being, before they started working for that company, entered into an employment agreement with that company where they agreed to meet certain standards and responsibilities, and so they deferred, they imbued that with their commitment. It is my, I'm committed to XYZ ABC in exchange for annual salary. Now, no employment agreement is the same and my hope is that employment agreements will evolve in time to become hybrid agreements that embody civil law and statute. So in a company that has hybrid centralised authority and distributed authority and total autonomy, you need hybrid agreements because you have to honour the free will of the natural person and you have to honour the agency of the legal person. The will of the human being stands above statute and the agency, which is the enactment of the will, the power to enact and fulfil the will, is honoured through the legal person. So the legal person is like a digital twin of the natural person. In law it's the physical asset of the human body and the will is the will of the human being, the immutable sovereignty of the natural human being.
Speaker 1:And so we think we need this radical transformation and upheaval. We need to decentralise everything. The classic web-free thing. We need to decentralise everything, and massive web-three companies are figuring out that when you spray authority everywhere, you decentralise it and just have total autonomy, then it corrupts power, it renders it impotent. So you want to consciously wield your authority and defer it and be self-responsible.
Speaker 1:I back myself to deliver this number. If, for some reason, I can't meet that commitment, I agree to a minimum standard set in. Agree by both 30 contacts with my customer in a day as an average. If my daily averages are slipping behind and you watch me if it does, if I'm going to give you 60,. That's what you see Now. There are some people that don't. There are some people that don't and that's because they're losing their will. They're losing their will. Their will is becoming broken. They don't believe that they're capable. It seems futile. Whether they do 30 calls or more and this is very easy In a portfolio approach it's like a distressed asset.
Speaker 1:If you're a portfolio manager, if you're a venture capitalist, if you're the principal of a fund, then if you have a distressed asset, it gets your attention. That's what gets your attention. Now, a strong leader knows that the greatest assets in their portfolio are actually the human beings their expertise, their skills, their connections, their resources, their capability, their capacity. The uniqueness of those individuals is the greatest asset. It's not the products. It's not the products. But the reason for this is because autonomy the human beings aren't the right to their autonomy. They're free to innovate. They're free to try something and fail, but they're not going to sacrifice their baseline level of commitment. They've earned the right to their autonomy. They're surplus because they're projecting a 10% over-target. They've created the space for themselves to fail fast, to innovate, to try new things, and this is how autonomy works. And so my point about a leader viewing the human beings as assets.
Speaker 1:If you have an asset in your portfolio that's not yielding or performing, you give it your attention, you don't beat it up, you don't tell it that it must comply, you don't apply more and more pressure, and this is one of the keys that I had in my team. The most potent culture I found was when there is a distressed asset one of the portfolio managers that haven't hit target for three months in a row and let's say they were trying to Hit the minimum 30 calls a day and then it starts slipping, that's a distressed asset. They've looked, they're losing the will to, and they're losing faith in themselves to uphold that number. And so what do you do? You use science, you focus on them. You give them much more attention than any of the others. You look through their portfolio with them, you look behind the assets. You allow them to leverage your mana, your Expertise, skills, capability as an asset to create greater value inside their portfolio. In my situation, it may be that I speak to the CEO or to a board member or Facilitator strategy session To add you know more value, to unearth great opportunities. But you look at the, the dormant potential of that portfolio, how you can unlock it together, support it with greater marketing. You know, customize a specific campaign, develop a specific product to meet an unmet need of a client within their portfolio. You see, and so you're always leveraging the dormant potential, the potential of dormant assets, to create greater wealth and help them to get ahead.
Speaker 1:Now there are some scenarios where you know you evaluate the portfolio and One of the assets in the portfolio it's in a specific industry, in the industry's experiencing cyclical change and it's out of their control. Their portfolio is Is representing that cyclical change. It and it's starting to manifest that and materialize it. And this is where it's essential In my mind, and I think this is really what's missing, the white space that's missing in the New Zealand innovation ecosystem is you need a portfolio manager, then you need to be a portfolio manager of portfolio managers. There needs to be a principle of principles, because we everything's operating in a silo. As an example, you got VC funds that specializing deep tech, hard tech, agri-tech, you're seeing water tech, now web 3, you know clean tech, you name it. They're all Operating in silos. Now there are pros and cons to this, but the problem is is that all of those industries like medtech is a classic example AI.
Speaker 1:Ai is even more of a horizontal now and so you know we need to adapt to. We need to adapt so that each industry can experience its cyclical change, the ebbs in the flows and, whilst they're being adequate, profits and yield From other assets, so you can weather this door. And so this is what I did. I Go to the team and say this portfolio it's, it has a dependency on this kind of asset, which means it's experiencing a cyclical change, and I'd ask for volunteers to absorb the growth of that portfolio willingly. And never did I have a Port, a portfolio manager, not stand up, not stand up, and whether that storm. Because they know damn well when they're experiencing a cyclical change and I'm focusing, working with them on their portfolio, they know I'm gonna go to bat for them and they know their teammates will bat for them as well.
Speaker 1:You see, and this is what we need in the New Zealand innovation ecosystem, we need a portfolio, a fund of funds, if you will, to consolidate the fragmentation and the siloed vertical industries, so that there are portfolio managers or principles of portfolios running portfolios that contain niche assets, you know? So you've got a portfolio that services web 3 got a portfolio that services web tech. Sorry, medtech, agtech, clean tech, tech, tech, tech, tech. So you have those specialists, but the, the sine wave of the ebbs and the flows. You know the bandwidth or the frequency between each peak and trough of these cyclical industry changes.
Speaker 1:Well, you like, in web 3 as an example, the bearable markets that you have a portfolio that understands that those that's the nature of the industry. It understands that in hard tech there's a could be a 20 year event horizon. You know the exit could be in 20 years. Commercialization could be a 10 year horizon. You know the valuation of the assets could be sporadic. Of the intangible assets that are created, clinical trials, you know in medtech that have extra long runways.
Speaker 1:Now, if you At the moment, if you're a special specialty fund, then you're not gonna have, you're not gonna be able to encompass all of them. You're not gonna be able to Capitalise on every opportunity that shows potential. Unless you have this approach, unless you have surplus elsewhere. Because you've got a diverse portfolio of portfolios and you know classic one is sass software as a service, really great Businesses and ventures To get off the ground quickly, create recurring revenue. You know, with very little initial capital outlay and you may actually invest. You know, inside this portfolio you may actually have the equivalent of An index fund or you may actually invest in. You know stocks, shares, crypto assets, these kinds of things as well, but the key is that you know property. The key is that the portfolio provides a surplus that enables each industry to go through its cyclical change. And there's enough. There's adequate surplus For each portfolio manager to earn the right to their autonomy and to negotiate it back Once they've demonstrated.
Speaker 1:I'm gonna agree that if my forecast falls back, I'm gonna agree to a minimum level of activity and a minimum harvesting of insights so that they can have that discussion with me and then say we need to Reconstitute this portfolio, we need to redistribute wealth, we need to reattribute Some you may be interested in a podcast I did on retribution and the true meaning of reattribution, and this is a portfolio management concept. But together we're unified, we're sovereign, we have total autonomy, we have the equivalent of the autonomic nervous system. This is a sympathetic Nervous system and the parasympathetic nervous system. One is seeking growth, one is contracting and it's like the portfolio if there, if it is at risk and if there is a threat, then it goes into consolidation mode, it goes into. You know there are markers that kick in, that go into preservation and reconstitution, same way that the body does. And this is really an organism, right? This is how an organism works.
Speaker 1:Every cell in your body is a paradox. You know, if you look at your body and this is how technology is evolving, by the way if you look at your body, there's a brain. That brain is like a hive mind. It's connected to every aspect of your body. You know, producing all the chemicals, all the signals, and so well, everything's producing signals. But then you have a nervous system, and that's the beginning of paradox the nervous systems, like in mycelium network, distributing sovereignty. You know, taking a stem cell that has the potential to become anything, transporting it to some other part of the body using the blood, and then the stem cell adapts and evolves to meet the unmet need within the greater whole. And that cell is sovereign. It's sovereign, but it's connected to the hive mind of the brain and it collaborates with other cells to create organs, to produce systems. Yet it is solely responsible for itself. It is solely responsible for itself.
Speaker 1:And you know, the body is the greatest paradox of all. It's the greatest hybrid of unity and separation that you could imagine. It's not just the binary system, it's a ternary system, it's autonomous, but it is also, it will intervene. And so, really, my point, to bring this full circle in context of centralized authority, there has to be standards, standards that are set and agreed upon by all parties involved. That if we get to this metric, or this marker that we all hold in our hands, or this marker that we all wholly agree that it triggers an intervention by a trusted third party, and we willingly acquiesce to whatever the custodians, whatever whoever those empowered to intervene, however they want to do it, we acquiesce, we relinquish control and you have the ultimate blueprint for an autonomous system that has protection and preservation baked in, but is programmed to perpetually appreciate and compound its wealth, perpetually grow and expand and become more increased its capability and capacity, increase the diversity of its uniqueness, to create more and more complex systems, so that it becomes an ecosystem with profound interdependency and diversity. And those are the two markers for ecosystems on the planet, that that's the thing that separates them from other ecosystems interdependency and diversity. And so we can have this right now. They're just very basic cultural changes that can happen within any company.
Speaker 1:To create autonomous organizations, you don't have to change the whole thing into a DAO, or you don't have to convert the government into a TL organization. You can just enter into sovereign agreements with the individuals involved when, rather than consensus decision making on the day to day, the consensus decision making is upon the agreed standards On what are the agreed terms for earning the right to autonomy, what are the agreed terms for a trusted third party to intervene. That's it. That's all we need to do, and this framework is ubiquitous for anything A company, a trust, a DAO, some other weird kind of organization, an uncorporated group Because when individual sovereignty stands above all else, the immutability of that is the same. The immutability of that create enables there to be perpetually mutable form of contracting. That's the beauty of it. That's the beauty of it.
Speaker 1:You can enter into any agreement that you want, you can structure it in any way you want, you can insist on dictating terms, and then the other party is free to agree or not agree. You can willfully defer your authority in a way that enables a trusted third party to have total dictatorship, without any standards for intervention. It can be the default Every human being is responsible for setting your own standards. That's not to say that you don't have global standards for a team, like a team of portfolio managers, as an example, because that works best if everyone's working on that same model. But an individual still has the right to try and negotiate specific terms for them and in some cases that's a better way of going. As an example, the scenario I gave you with setting the standard for intervention being if your projections fall behind projecting to yield 10% that month, if your daily averages are below, fall below that projection, then the intervention kicks in the moment it falls.
Speaker 1:But below that, you're committed to doing 30 contacts with your clients a day. There are some portfolio managers where that's 15. Or there are some portfolio managers where it's 60. There are some portfolio managers where it's 5. Some portfolio managers where it's two visits, so you actually have to go and visit in person. So you tailor the standard to the individual. If you're a beast mowing down calls, then do that. If you're an expert facilitator, get in front of them. Now you're always playing to the strength of the asset. You're always leveraging the uniqueness of the asset. You're never just applying a global thing. You're never just applying a global thing may not be playing to their strengths.
Speaker 1:And I'll use the example of another portfolio I managed was student accommodation buildings. I think I had about 10,000 beds in London and my role is to appreciate the assets. So that means get either sell the buildings to a university, lease them out to a university or lease them out directly to the students or the students parents. And you can apply a global standard to each individual asset, to each room, and get it about 80% full using just blanket global marketing. But the rest of the 20%, you have to get in behind each asset, understand the uniqueness of each room, understand the environments it's in, understand the pros and cons of the uniqueness of that room, create bespoke campaigns tailored to just that room, target a demographic that's particularly suited to just that room and the uniqueness of that room. And that's how you get the rest of the 20%. And so this is how I was able to achieve 98% occupancy. With the remaining 2%, the rooms were just damaged. And it's incredible what you find out. You find out oh, there actually are damaged rooms. You know, if you don't see it standard where you're trying to get 100%, you would never even figure these things out as a portfolio manager.
Speaker 1:But and this is how you apply portfolio approach to any aspect of an organization, to everything you're responsible for as an employee there's nothing preventing you from engaging in a conversation with whoever your manager is to suggest some standards? Say what are your thoughts on me gaining autonomy? You're expecting this of me. If I can project 10% more than this or 20% more than this, if I can increase my productivity from this to this and I can maintain those numbers, do you agree to give me total order autonomy so I can take an extra day off a week, or I can attend this course once a week, or I can work in this team once a week, or I can donate 10% of my surplus time to a nonprofit project? You see, this is the power you have as an individual. There's absolutely nothing in the world stopping you from initiating a conversation with your portfolio manager, floating some ideas to your teammates, getting them together to discuss it.
Speaker 1:What's a global regulatory standard we could set within our team that triggers an intervention? And then, what might we do if we become so productive as a team and that we have surplus that we can devote to other things? How might we innovate? How might we use some trial and error to try some new things? Just because it's an idea, not because you know, despite whether there's scientific evidence or not, you toss that out the window. You just give it a go, becomes much more fun and much more innovative, because you're constantly delighted and surprised by how it blooms and blossoms. When you have a mechanism in place to protect and preserve everyone, to provide the care that they need, that is obligation free, then they really appreciate that, understanding that if they meet and exceed that standard as a self-reliant, self-responsible human being and they taste what it's like to have total freedom and total autonomy and then to feel the pressure of it slipping away as a privilege, watch what happens. Watch what happens, watch the innovation that happens and watch them perform under pressure, because they're not being told to accomplish a task, they're not being told to comply. They made a commitment to you, to that number. It's about them. It's about how they feel as self-responsible individuals. Come hell or high water, they're going to accomplish that mission because they've. They're committed by proxy to the rest of the team. It's a culture and it's a way of being.
Speaker 1:That's that became very difficult for me to describe when I first started experimenting with this in an organization that didn't really know what I was doing. They knew that my team was thriving and some of the people in that organization became quite jealous of, because my team looked like they were swanning around, sometimes Not understanding that the team members that were swanning around, they'd come in in the weekend and bashed out 60 calls and got five appointments. You see, you have these peaks and troughs and the culture that I had in that team when I knew I'd hit that sweet spot the last day of the month. That's when the number has to be delivered. They stay behind for as long as it takes to just bash out calls, get numbers across the line, pull out invoices, get them billed, whatever it takes to get to deliver that number.
Speaker 1:Because of the commitment that was made by an individual, not because they were told they have to do something, because they don't, they want to, because they made the commitment to invest themselves in that way and a co-designed agreement and a consensus agreement. And so imagine this scenario within government, within a government agency. Imagine this relationship between a ministry and a government agency. You know the minister can come in and it is my will to XYZ ABC so that the people of New Zealand thrive, so that the nation of New Zealand thrives and prospers. How can we and we can co-design those standards together. We can co-design those standards together.
Speaker 1:But how can the dormant potential of the wealth of knowledge, experience, uniqueness, equipment within an agency like Callahan Innovation? How can that be unlocked? How can that be unlocked? It's through autonomy. It's through autonomy so that they can create a surplus for themselves and create the space to then innovate in a cross-pollination way. They're incentivised to do so and if things slip and they become less productive, they own the productivity for their role. They own what they're capable of producing. They own whatever the unmet need is behind the reason why their role exists. They own it. They agree to a standard where intervention happens. They understand that any privileges gained by creating a surplus are lost if that surplus becomes eroded, and people are far less adverse to risk, far less adverse to risk, and they're incentivised to utilise technology to make themselves more productive.
Speaker 1:Now the last thing point I want to make is and this was always controversial in my team, just being honest is that if your portfolio yields like if you had a number to hit one month and you managed to appreciate your portfolio by 30% in one month, you absorb that target and your projection changes. And so what this would do and understand. There may be a random anomaly. There might have been a massive deal that was done in one month. You have to pull that out. You have to pull out those anomalies, otherwise they're just they're not going to continue hitting their target. You factor in the anomalies that there will be anomalies, but you spread it across the portfolio at the beginning of the year, so you pull it out. But if you're compounding your portfolio 20% month on month, then the redistribution of responsibility happens every single month. Every single month the redistribution of that portfolio happens and this is what enables the unified whole to work together as one in unity. This is how you enable the entire diverse portfolio, you enable one industry to carry another, but it's constantly adapting and evolving so that the redistribution of responsibility is relevant to where portfolios are wealth generating, where the surplus is. And this means that a portfolio, as an example, a Web 3 portfolio this means that a Web 3 portfolio in a bear market can still hit its targets Can still hit its targets Because every month the redistribution of responsibility is happening based on where the growth is happening.
Speaker 1:If you're coming into a peak, the equivalent of a bull market, and you're riding that wave, then you're creating a surplus. That's helping others who are contracting, whose portfolios are contracting and it enables them to still experience success. But they're intrinsically then motivated to consolidate, reconstitute their assets, cull assets out of their portfolio, because that's another thing with portfolio management is, if there are specific assets that are not yielding, if they're depreciating in value and you can't help it, there's an incentive to either turn them around like they're a distressed asset or reconstitute them. So maybe merge them with another asset, innovate to create a new system between four or five depreciating assets or distressed assets, and so or you then you cull it into a reactive portfolio that only gets targeted by marketing as an example, because the cost is much less and you're not getting a yield on the attention you're imbuing into that asset. And so you want to redeploy the attention of the human being into understanding the opportunities and assets that actually have potential, and this is how it becomes autonomous. You begin investing in things to increase the productivity of each asset, to increase the productivity of each individual, understanding their role in making the system more efficient at meeting an unmet need, as well as understanding their contribution to their individual productivity, so that they can earn the right to their autonomy as well. And the other component I found that was actually essential in this is to incentivize knowledge exchange through the equivalent of either very junior interns or people just out of university or just out of college who can absorb and assimilate knowledge from people who are earning the right to their autonomy, so that they have they absorb the cost of those people in their portfolios and it means they can really enjoy the privilege of the autonomy that they're earning. And in that scenario I've been sharing. That's about administrators who bought, who enable a portfolio manager to redeploy their attention into activities that are appreciating the portfolio. But again, the cost of everything has to be absorbed by the portfolio as well. It has to be absorbed by the unit as a whole. So this is what autonomy is.
Speaker 1:If you are a sovereign human being and you've come to the conclusion that you do want to delegate responsibility to other human beings for aspects of your care, if you do want to collaborate with other human beings on mission-led projects, then you know that you have to delegate your authority, you have to defer your authority. And if you've drawn that conclusion, you know that you're not going to just be an independent, sovereign human being doing everything for themselves, trying to run a company entirely by themselves. You know you want a hybrid of both. You know you want a hybrid of both and this is a blueprint that works and it can be infused into any organisation. It can be infused into your family. You know, if you imagine helping a child to have a portfolio approach to how they run their life, where all of their, everything under their stewardship, all their toys and their clothes are assets, you can teach them how to value those assets, how to appreciate them by protecting and preserving the things that they cherish. You can help them to set their own standards. You know, if my room gets this messy, then I guarantee it will be tidied up by XYZ. You know, if my chores that I agree to as my set standards, if I exceed them or I'm doing more, if my productivity and my contribution to this family is increasing beyond what was agreed by 10%, then I earn autonomy and they're an adult by the time they leave home. They're a self-responsible adult by the time they finish. You know, being an adolescent, they've earned the privilege of going out with their boyfriend or their girlfriend, of learning how to drive and it's just normal for them. So hopefully that's helpful.
Speaker 1:Hopefully that shed some light on autonomy, what it actually means In a world within which you want to delegate your authority and defer your authority. It is a privilege to be able to do that and defer your authority. It is a privilege If you want to work for a company and be protected and guaranteed an income despite what happens. It's a privilege If you want a government to protect you or a trusted authority or third party to protect and preserve you, your body, then you have to figure out how to generate wealth as an individual. You have to figure out how to create a surplus, but you also want your autonomy. So how can we, how can we do this together Without all this radical change that everyone thinks that has to happen? There doesn't have to be a mass deluge of insane disruption that creates equal measure of harm than it does good. We can do this without doing any harm by creating sustainable surplus, but it needs a portfolio approach. Okay, so I'll leave it there. That's it for now, for the nature of autonomy. Talk soon.
