A business is a place where people co-operate to create value, in the form of products and/or services that others want. A business makes a profit of the money it receives from those others more than covers all the costs of delivering the goods.
So far, so good.
Why does a business need to make a profit? So it can expand.
Why does a business need to expand? So it can make more profit.
For the last 200 years this flywheel has driven everything that humans do.
Last year, we saw it slow down a bit, and caught a glimpse of what we’re missing.