Billions Axe Quotes

Moreover, the 3.2 million people enslaved in the United States had a market value of $1.3 billion in 1850—one-fifth of the nation’s wealth and almost equal to the entire gross national product. They were more liquid than other forms of American property, even if an acre of land couldn’t run away or kill an overseer with an axe.14

Hans Rosling was a world health economist and an indefatigable campaigner for a deeper understanding of the world’s state of development. He is famous for his TED talks and the Gapminder web site. He classifies the wealthiness of the world’s population into four levels: Barefoot. Unable even to afford shoes, they must walk everywhere they go. Income $1 per day. One billion people are at Level 1. Bicycle (and shoes). The $4 per day they make doesn’t sound like much to you and me but it is a huge step up from Level 1. There are three billion people at level 2. The two billion people at Level 3 make $16 a day; a motorbike is within their reach. At $64 per day, the one billion people at Level 4 own a car. (Numbers are rounded for simplicity.) There are of course parallel improvements along other axes as well, including Rosling’s famous washing machine, standard of housing, diet, and infant mortality rates. But we can use transportation as an example, given our overall subject. The miracle of the Industrial Revolution is now easily stated: In 1800, 85% of the world’s population was at Level 1. Today, only 9% is. Over the past half century, the bulk of humanity moved up out of Level 1 to erase the rich-poor gap and make the world wealth distribution roughly bell-shaped. The average American moved from Level 2 in 1800, to level 3 in 1900, to Level 4 in 2000.

Okay, imagine that you love chopping wood in your backyard,” I said. “You do it for fun. To relax. To enter a flow state. Then, one day, your neighbor pops his head over the fence and asks you if you could chop him some wood, too. He offers you $20. Suddenly, the thing you love doing becomes a business. Before you know it, you’re chopping wood for all your neighbors. You buy a truck and start selling door-to-door. It’s just you and a bunch of buddies, side by side, chopping wood and working outside. The business grows. And grows. And grows. And a decade later you wake up. You’re in a little glass office, perched atop one of many sawmills. You look down at the hundreds of workers beneath you, operating the industrial equipment on the factory floor. Huge logs getting fed into machines that slice the wood. Totally automated. “And there you are. Isolated in your little office, wearing a suit, the air-conditioning blowing a chill down your back. No axe. No fresh air. No friendly coworkers. Just you sitting in your office, doing some paperwork—alone. That is what it feels like to build a business this big.” He looked dejected and I wondered if I should have just shut my mouth and told him it was awesome. He could learn the truth on his own. Every founder dreams about getting to the end—the part where they’ve created the billion-dollar behemoth—but ironically, once there, we all fantasize about going back to the beginning. After all, the beginning is the best part, and most of us probably wouldn’t have kept going if we knew about all the speed bumps. The journey is the reward.