hello everyone back home to another episode of. Trying to call but guess what I talked to Risk Takers Adventures Travelers on to prepare us and simply mind bogglers my name is Tolson Jacoby and I'm your host this episode of judgement Hall is funds at the mighty Travelers premium. This is my business travel deals to do really want and it finds the mass they happen between 450000 and 4 is everyday to give you the best deals in economy premium economy business and First Class B also make recommendations for four and five star hotels all over the planet when they're much cheaper than they usually are thousands of subscribers have saved more than 95% of the effort tickets and a flaw in the business class lie-flat transcontinental using hour deals in case you didn't knowAmericans Europeans and many other nationalities cannot travel to more than 80 destinations again to give it a shot and try of my teacher looks premium for free for 30 days today you can sign up at my travels. Com MTP of everyone who's trouble with all the characters go to MTP for you that's just five characters and TP for you.com and sign up for you 30 day free trial has been helping to build businesses and change lives on three continents versus engineer then as an investor now as an entrepreneur building private education businesses in a pop-up how are you I'm doing great and very happy to be here I have you my first question the first time you met you told me you grew up in Argentina and Germany and now you are you working arraignment / City obvious question everyone is so what are you running from is it the Authority or is it a lifestyle and especially when I go back to Germany in Overland serious with that so there's no no joking in that question I want to be how do you get around answering that question I think I have left side driving countries that have left of less than 5 Lester peanut clean stock records and what's always motivated me to move from place to place was a Caribbean mystery and the adventure of going to feel living in the new country and I said I was born in Argentina I grew up in Argentina went to Germany for my education studied their work in Germany for Germany for a longer. Of time than Argentina travel and I got lucky to actually find suckers that paid for my trouble basically moved around for lived in Indians lived in Brazil came to the Middle East first in Dubai and then went to Crane for a couple of years and now I'm so it's rather be in at the adventurer and the the mystery of living in in a in a different culture and 1/2 in weigh find yourself in because you don't read a book by Alain de botton I call on love and I think that I and there is this image of stuck with me over the years which is that we human beings are like like a jellyfish and we kind of we don't have a shape of her own but we are shaped by our environment and I was always fascinated by that concept of when you move to another place and giving a different culture you end up changing yourself because the environment shapes you in Germany and living in the US and basically app a absolutely True Weave we are and that's hard to find your if you get this intrinsic Notions of ourselves from being born with a personality that they didn't have to stay over I didn't have a say over so that it does a lot of personality that's that's burned into our genetics and that expresses itself over time that we can control with us but there's a lot of biology underneath our neocortex that defines us we just take it as a given we never we think about until you like 40 and then you know in the old days that one block of years left before you die an individual person that I was supposed to say my my own Creation in my own choice and I was and wait hundred percent Pablo and when I move to Germany I discovered that that is not the case that the you know the cultural influences that I carry with me were so large so that actually it was only 10% and the rest were things that I didn't choose for myself but were given to me by my genetics by my by my culture to culture where I grew up right and living in different places that you can you do you become conscious do you write it goes from from being have it from being something that has been I don't know beeping in the lizard brains at to becoming something country started the neocortex where are you you said you know something that I actually do once a behavioral patterns something like that I might doing this because I want to do it I am I doing this because I am just your product of my culture first my jeans and I'm just reacting in a way that I've never thought that I could. You reacted this way when you go to a culture and see people behaving different ways to say absolutely and it's it's it's maybe flattering with some and some moments but it's very unsettling you cannot spend a lot of time thinking or what what could have been if I would have had this inside when I was 24 when I was 12 or 6 years old and some will be absorbed all these things around us and kind of we unconsciously to find ourselves like this so it gets pretty picky about in terms of what where is the three wheel vs 4 Consciousness because we have so many things around of this you say and then we we have a hard time what is actually thinks that we influence with some kind of Consciousness or things that we just have talked into that but one thing that really inspired me in two places on Livingston valve I always felt that I have I'm not losing it might be a little bit of exception but wherever you you show up and I think you you can relate to that is you keep kind of the lifestyle you can always go back and you kind of feel like you belong to it and it's not fully yet you never would eat the same inside out anymore you're always being treated as an outsider but you you always gain and you experience in that whole experience is still there and you can you can be like I can go back to Germany in German I would beat that would literally change my behavior they have it by would change the language person once you go back to a different language I can do the same thing with Russian there's never really lived longer than 6 months are still home than I would ever think like like a the average washing a little more than I do now and but it doesn't go away I can always go back to this personality and kind of Transport myself into that and say oh what would someone with that mindset like myself in that time frame would have thought about that and that is something that people think of worried about if they custom out the ideas that they lose something forever and they can never go back like Leslie Chalino shitbag you going to be lost on a different continent I never had that so I think that the personality trait yeah I think I think it is with you and it's like what one set of experiences comes on top of the other right and it's time to go back to Germany to speak German when I move to Germany and I had to learn to shoot in Cordova where were living back then I want to move to Germany basic how to learn German from scratch a great experience for me to physical learning German is very difficult for accepting of little issues in the language they think it's terrible I mean emotionally if they want to be mean to other people to just they feel if they are in proper German they feel bad it's not like an idiot a pain that they have like an emotional pain that they contract basically you learn the different way of thinking right there is all this is research about the relationship between language and cognition and chicken which one is you learnt thinking of it and I don't know if you watch this fantastic movie called arrival about no aliens coming to America and basically this scientist main character in the movie The Language of the alien and buy a learning the language she basically starts to see the future because of some characteristics of language that made her give her 50 start thinking a different way because you're using a different language at that completely changes your your German Ice Cube you don't even know because that's your plan Jim Parsons in your head before you start talkin about it because you know it's not like you start with that you actually change the way you think planning out the whole paragraph before you even stopped in the First Ward and they all have to be in perfect sync and six tenses and it's it's me to conjugations like 11 or 12 is a nightmare but if you if you know how to do it properly you eat like there's a lot of it's like something is going to be a nice paragraph and then you change your language so it's not him I think the race is great specific language is great engineering like an engineer not that great because you're losing that dead amount off the specificity you when you think about the future which often doesn't have words yet so it's not right for that so if you could be there for if you could take two magazines say I don't know their speaker in Germany and The Economist in the UK and you take basically has the same article they were both addresses and get you about politics and whatever Right There mp3 are observed over and over and over again right the economy stupid one page and Ashby of would be stupid Raichu yeah I think the most of the English languages are already geared towards a different purpose so they give you to give you an idea what do you use this phone in order to to change the future so to speak German doesn't have that it's more like where does it come from what is the most specific what we can come up with a combined le6921 lunch with you one thing that I noticed the typical entrepreneurship career as you come out of a big company let me start your own business then just been eventually becomes fake if you're lucky and I hope you're good enough and then you become a VCU entrepreneur-in-residence become obese to get it eventually retire and then you can maybe start a podcast or bright above you did it in a slightly different a ride to you started the Daimler then you went to become a VC then you became private Equity investor and now you turn off the Panera managing the company you on yes so I I I had the fortune of having different careers in in the course of my life and I think four Our Generation my generation are generation is Generation that will be come in the room you don't look for me it was nice to have a PhD in computer science and technology development technology during the the the Boom the tech boom in the late nineties more by accident than design I started to get you know sitting in Independence Capital world and I found it so fascinating coming from the technology world I realized how much Finance plays the role in influencing the direction in which technology Capital funds investing in the new technologies mobile technologies internet in Suwanee Sports and then giving young companies the financial means basically become a business plans and ended up changing the world iPhone doctors Foster and reading about them be honest I have no clue of a typical engineer really understand fine reading books about how to read a balance sheet and stuff like that and I do that because I was so fascinated by and at some point I got to thinking what actually is if I like this so much and I'll be on in my spare time I read about new startups is or why not try to work or for Revenge. and I could like he was a timing because he was 1998-1999 a lot of people were little funds were looking for candidates and backgrounds and I just started sending Eevee's different funds and ended up to my surprised if he see in Hamburg Germany and that's how we got to know each other right because you are looking for a for funds for one of your stops and I think you were happy with it but the rest of the firm didn't like those much vitamin if I remember correctly my family has always been my one of my passions so your business idea was related to the travel and so I'm not convinced it's just a tough audience like a YouTube audience for you just like a ton of this life and the town of comments that where you like feel well but I think they were smart they had the right questions that they just take him to a very different point of view. The beauty industry itself in Germany hasn't disappeared right that kind of the one you left 2010 most of the abuse defense of Germany close up shop and maybe maybe that's because of you you you said they'd never said you left but I felt like Deedee the biggest problem we see this in the US now so maybe Germany have we decided to fundraise if I must be different because from what I've seen you know better was very sluggish and it's just a general expectation of what do you do with these startups where will they go there wasn't any public market anymore cuz that's kind of faltered in mm or mm and it wasn't like a blueprint that we have here in the US for quite some time to do is Penny of fun to have a certain guy and that work with a bunch of bunch of firms are just a few and how much of this model it I kind of feel like a b c model itself is broken in the US because what happened is we have the Unicorn exits that why I always feel is kind of an inside a deal between a couple pieces here suck bang who which uses money from the Japanese post system that has been printed by the Central Bank props does a cannabis a pipeline to Ian and ego fgo they rip off to shareholders and then they disappeared his company's I was a little warm but what I I felt as missing a deep question you could ask the question is it ever sustainable but I think what's happening with nothing Talib is just driving is entrepreneurship the individual entrepreneur who puts up his own money who puts up his own knowledge and his own reputation puts that against the business plan because for some reason that person wants to believe in this or that's believed in it and then executes for a couple of years and then these things take off some of them go if you also let them know we're probably most of them go nowhere but it's very different risk profile and way to handle a business like a family business you can say the Chinese style family moves into an IPL one day not the state-controlled Chinese Enterprises. Traditional Chinese way of investing I think there's a lot to it and it drowns people into a reality and has a lot of society impact but I think it really positive and I think we've lost this is especially in the VC Market that maybe never wanted this but for a while I think was part of that market do you feel the same what do you think maybe she is still going strong attaching many things there and I think that first and foremost the the the model of The Interpreter building a company and field building new businesses distracting the of the sector in which they were creating new opportunities in creating jobs it is clearly the success and the countries that are the Region's the areas that have been good at creating a good environment for intrapreneurs I have had become successful so that is I mean is I feel it's behind closed doors people still say that but that's not happening you know I don't want to say the word mainstream media would say a lot of media wouldn't touch that notion anymore and I mean if you could think of the great successes of the last decade or so I mean Facebook was you know they started in 2006 or something I got 14 years hence is one of the largest companies in the world something good for Humanity or not it is is is very debated at the moment but you don't get him something I posted and then there's the development of the division Fun by which have distorted valuations and created expectation Square alignment of interests in the game that you referred to earlier. Nicholas taleb from from from from right here waiting store we were just before the company from basically made the point that they think they have taken the whole thing too far. The basic advantages of startups and entrepreneurs driven companies has been lost along the way because of his schemes moves away from from in the way she speaks so you're the whole system has become very fragile that's kind of his his latest notion kind of thing the same thing but ET monopolist that have started out thinking you know Peter thiel's pieces that you want to start a monopoly or you shouldn't start a business I think it's it's it doesn't just found cool I think it makes a lot of sense, and entrepreneurial perspective typically these monopolies on a timer so they they go on you built them eventually you don't have one then you going to create Bond and then they go away but some of these the internet Monopoly bigger by the day a day don't go away the seems to be the opposite happen in the same is true for Intel or do they have a little more competition these days before 30 40 years there wasn't any that's kind of strange phenomenon you would feel with the with the amount of change that we CND is the time frame of progress that has sped up used to be monopolies coming up yet but you should also falter as quickly as they came around but that doesn't seem to happen nothing that really bothers people yes. Is that is a very strong discussion we're having at the moment whether a company should be broken up and and and whether antitrust should be a force in a bit of more no more in a way that protects the the consumer I State shoes so you know it is I mean I'm antitrust might be good. It's going to be messy and Barbara not sure if people get it right the first time a couple times they do it but I'm surprised that these Market forces have taken care of this and I'm trying to find the weight seat at this is this is kind of where I'm at is a DDA the notion of the drive to create entrepreneurship that's kind of being eradicated as it has dropped so much but did the man on the president is as low now as ever in in society as a whole I put it this way and that's kind of Truth lovely I mean obviously there's places in the world that is still there but then I think I wouldn't blame this on coworker is more like a symptom of this whole thing then it is cost and I I mean I think I think you're referring to the fact that because of the market power of this big giants and that that has created a slow down because of the Monopoly power study of the big argument is always well why you cannot be unhappy with Google cuz everything is free for pretty much everyone so they give us new new stuff and it's free and you cannot be unhappy about this because you can make it any cheaper but what people don't realize that advertising is so expensive portable thermal start up so you can sing out a lot of stuff that should have come out the last 20 years old any of the specialty that never made it to the user because nobody has the money Uber had access to already could literally give everyone on the planet a hundred dollars to free ride and then they still have a hundred 50 billion left and then that's been used barrier of Entry is primarily the way that you can reach provide low-cost opposite for a limited time you can reach out to potential customers and that was all has always been the marketing Innovation nothing to do in the 90s I was just simply media media hype and then we got the cheapest to go and see him and then that was followed by social media and Facebook which actually helped get the war. Because all this started as you said earlier it's kind of used to have good technology if you don't have the financial power and I think even more importantly to marketing power to to get to your customers are completely useless they will never know and they have no chance of knowing about you and I feel this is where I'm from my perspective that the Croc slides the marketing power is is unaffordable most entrepreneurial Ventures and niches which are left behind by five by niche of people that are looking to travel in style on a budget right and fantastic fantastic fantastic offers something that I can go and check the way you you pockets and the way you search for for those great deals at unique and you have created a very nice need for yourself which is I don't think so but the question is how do we get to Netflix has 200 million registered users want to know how many extra pay and you know you want to get to a few million relatively quickly and this is like a sister to roll out like all these things we heard about it and some of them I finally have now like video conferencing a podcast but as a technology for 20 years but the rollout supposed to say nothing is lacking in that could be used to find all adoption people just lazy or it could be that marketing has been harder than before so nothing is impossible I'm just I just feel technology could make a much quicker roll out then what you see right now that's kind of you to speak stagnation that predates status from the seventies were we don't have to put activity growth we should see this acceleration of technology that clearly there that isn't a piece of technology I'm just a blessing every 18 months after my conductor power to drive so many so many correlation with societal and pink husband both of the snow outside of the course I'm a conductor software and finance industry which is odd and you know I'm still trying to find out why that is I I don't have an answer either think nobody has did the lack of inordinate entrepreneurship of things that that happened in your area of expertise in that you push forward is something that that should be much bigger and some countries to better some some countries have trouble with that we so do you feel Venture Capital to come back with me talked about a little bit but do you think Venture Capital as a model of financing his Ventures will make a comeback or it will have a new hot spots which are coming up in the different parts of the world was 10 years ago 15 years ago venture-capital was I think most of the US on a tourist extends Europe in the meantime you have a lot of venture capital funds which are focused on their particular Market forces here in Dubai where I'm based when I move to buy 12 years ago or so it was nothing that would resemble an ecosystem of the word know Venture Capital investors there were barely any startups that you could consider startups in Hindi let me see you have another 50 for nurse here and trade taking place this one but the companies that would like the best and and and also the word no exit right so no funds no start-up no Target and no I mean time we have a I would say I'm full of fun which are most often but we have a very buzzing stop seeing Dubai has become in the Middle East the place to be if you want to start a company company Mobile internet services for you and we had a couple of large exit right with for instance the local Middle Eastern Uber call tehreem I was acquired by Uber dollars be local Amazon answer a couple of very very high-profile exits in in the week so that didn't exist 10 years ago today and I hear that same thing at the marsh much larger scale is going on in India is going on in China and at the smallest scale is also going on in smaller markets that they do know a b c community which has come up over the course of the last 10 years so that is something that is actually something you you volunteer so much pain. I don't have any photos of both personally and as a City development but also Idol development is a horse an experiment I would say we we we still don't know how it's going to play out Deerfield we could use it as a blueprint somewhere else you know that the idea of creating a valve under but there's an overhang up money in many companies Japan Germany the US China a lots of savings that are not come on not being reinvested for are less reinvested then let's put it this way and maybe it's in the seventies isn't there a future model where we say we build this week we going to places for for whatever reason maybe it's the culture is restriction laws and climate whatever it was development has already taken hold any create a place like to buy contact you can play Singaporean model also you create something in middle of nowhere and have a second division combined set aside that that comes along with at that office is different than the environment has been sore for another device similar but it's very different in terms of what what how liberal it is and how it drives development on a large scale and then reinvest in. chicken largest Venture Capital City development development of New Jersey and taking two different countries or there can only be one to buy in the Middle East and one Singapore in Asia I think it's the latter because the basically the model is to be in a way Safe Haven and is the most least to be with Switzerland is for Europe WhatsApp Panama Hospital for Central America what Uruguay vs. America and Hong Kong is the China what's Singapore's for a South Asia place where the time stable government respect for rule of law to respect the rule of law a place that has business funding and education to buy a dozen apply to apply differently in in the other samples Elementary before trying to get you to buy is Rajasthan tax free at least when it comes to income taxes we don't have income tax this year we have other things but otherwise that creates a huge Magnet or enterpreneur e s v right that you can come to a place that where you have a respectful is predictable is the reason ease of doing business and the money that you may end up in your pocket as opposed to it. It that is extremely attractive proposition business would you also need is to be surrounded by are the countries which don't have right and that creates so to say that that that unique is because if you you know if somebody else would be to buy nobody would come here at the make makeup see the you eat under Dubai has run about 3 million people has a reputation in China I don't know how many it is which are bigger than than to buy but nobody has ever heard of them left side of the world and we do I went to one in in May last year and it's a stunning City it's something futuristic that the people don't seem to appreciate at any point now or after 4 or pasta pandemic it has the hyper-modern tunnels it has these futuristic Bridges it has the high be sneaking around skyscraper is a fist hundreds of skyscrapers and I'll bring you what they all look at what they have for the day they didn't exist for years ago 3 years ago and I'm done 5l developed many parts of Wuhan where and I think it's 15 20 million people in New York City that no one has ever heard of it doesn't happen to use service economy which is generally dishoom list of China but otherwise those are magnificent cities amazing so so you just give me a tip when when when I have time that something that I'm looking forward to to do when my wife and I would love to do is to do you end up going and I would love to to take the time to travel through after China and and I guess that would be a fantastic destination in the same value for money they are because I bet they won't be many tourists you want to see the lava coming out of that volcano it's just not very welcoming let's put it this way it's brand new and it's a very modern place but it's not that I think this is not yeah yeah yeah exactly yeah well at so but you know coming back to the story of of to buy in fact you're coming if you are a entrepreneur or a wealthy person in the countries surrounding Iraq and Syria Yemen in India and Pakistan probably you could you could pound 30-40 countries in in in our vicinity a couple of powers lights from from Dubai did there's just a lot of economies which are very unstable right which have had a history of booms and busts and and political instability and lack of respect for private property and volatility chances are there legal system so if you come from one of those times and you make you feel you have made money there you would be crazy to keep your entire well in the country because you know things go wrong right and what you need to have if you come to one of his country did you need to have a plan B you need to have a ID why don't you weld somewhere else that has been the role of say Switzerland many Arab countries because of the historical things with with the United Kingdom many people would say you know would want to buy a flat in in in London and have a bank account in London and the UK and you don't have the money there some some other countries had to have a bigger facility to the US they would go to see people would take the money to the US and property in the US do not change significantly after 9/11 where the banking system in the US and then in Europe in the UK became very weary of international money money going around by the kyc regulations of rain to do since I want to support you you would potentially have either bought property in the US or or or in the UK and all the sudden you're not working anymore but you don't feel welcome anymore after you what is the alternative and Dubai has become desert so that so that instead of buying you properties in London now you buy property in Dubai and you take a bit of a secondary if I do you know Yukon Yukon something at this like 911 you might have a similar event was China in the next 10 years where you busy can predict that but it might be 30 years until that happens or am I never have been my vagina is going to be everyone's best body again in 10 years from now so what what what I was helping and I mean by success is it seems to happen over time and pretty much any sector they touch and that you you were saying earlier that it can only be a success because the other countries are pretty crappy and at least 10 to buy puppy plays with less cramping in China and that is a differential is certainly that you need in order to pull this off but it's it's a moving Target so is there is there room and get you said earlier kind of know but I was feeling there's more room for you no one. That kind of tries to get today the same place now and Africa and I might be in the car now that I actually got there too so relatively small places but they get into a similar to wipe and I think the money that the Dubai had to do beforehand to put it this I think helps but often the the the conviction of people who is tearing this place the respect for the rule of law did the way to support entrepreneurship this is actually more important to you what I'm trying to say is you could pull this off in the Congo if you have the right mindset they won't be any other stories like this what I wants to implies that we saved that say there are 200 countries in the world you can't have 200 / if you could only had a handful of two handfuls of of of of those can stay haters because that it is required to have a neighbor's of which are less attractive than you are that pie you know he feed the world has come a long way since most was being made this argument if you have more people everyone's going to die because we just going to clean the trees and and eat all the leaves that didn't happen because you have to use boom in productivity that is driven in My Mind by the family style on Corner not necessarily only but that this is a big contribution it's just decided everyone wants to be an entrepreneur and sees this as a contribution to society or small contribution but it becomes a big contribution of time and then the development model I found that dead to buy has a special and has I don't think it needs to be that all the other countries around it make it special it's just it allows us freedom then you would expect for Liberal Place steam coming from from Europe for the US these days but it reduces your personal freedom like Singapore that outlines the way I was approved for 20 years and then hope it works but it is somehow stable something that you can say about the us anymore at least not on a superficial level rapid and I heard the one of your previous podcast he was with Chris where do you spawn the attention that you have between developments on the one hand and freedom on the other end and you know to what extent if you don't have to. Open if people are poor and stop limiting the freedom right it's it's a it's a it's a very interesting person and it is important for for you might not be bought for me and and so I suppose that the some people came up with and they said the total amount of Freedom everywhere you go in the world is basically the same crazy you could this time, true but you know if you go and look at the average life of most Chinese they're not limited as you might think they are a yes Nick hunt have open criticism off the political system which is a lot of you know under the carpet criticism and a lot of local criticism that you can easily avoid there's a ton of freedom and more personal aspect of the life that you can enjoy in the US this words you can you can smoke marijuana I mean I'm not a smoker I don't like smoking but there is a ton of Freedom allowed in a place that you didn't even expect them so it kind of grows on Minas argument that the total amount of freedom is very civil of wherever you go because if it's something built into the deep parts of the brain use you search for his freedom to get don't get it and 2nd Avenues say political or say I cannot make you find it in others just might not actually grow the company economically but it still gives you a life you're happy about at 100%. The fascinating discussion and you know just to give you an example from from from today this morning I went to I went to the beach right here and the we have probably the best infrastructure in in the world at least I'm aware of the city so I can jump into my car and within a couple of minutes I am right at the beach if if I if I live in the country with a barre body structure I might be not far away from the beach I am at 5 I will be able to get there right so I would have even if it's not for my freedom and that is something. you don't have to be counted some way and yes you know here we would Willie the UAE is monarchy and what was we have by and large Freedom that there are certain topics that you know how I know not to welcome people discussed in public right so you fine and then you can enjoy the ultimately it's the weekends in each one of the Thousand factors that flow into that equation are very first yeah yeah yeah I mean you are so busy as a has a strong focus on political freedom and the freedom of speech but I think we're great values but it you pay the price and other avenues that what are US hasn't just hasn't delivered a lot of freedom do it has them more free of the general direction of most countries has the same the alarm afraid of it is the only good because if you have more more more variability in this people can develop in the body that it's useful for society or used to someone around them so there is no hopefully that is no no way back into the Dark Ages that people not predict the coax that's a lot of free Christmas trees and stuff in California. Aldea be most of the businesses that involve any kind of social interaction have been closed for a long time and that is very strict policy very similar to what what happened in Malvern AR be a little less enforcement here because nothing is really enforced but it is something that you can like this keeps going you this whole place is going to be in trouble and that you know it's always 15 days and he's 15 days turn into 15 month and then they turned fifteen years that kind of that the fear that people have that might not be true but it's it's it would be a striking reversal to this policy of like everything's getting a little more for you Bethune doesn't happen one more thing that you struggling with you and the US and I I know you you might have an answer there is education we we have this policy in the US to specially in the coastal states and cities is a lot of money in education and I looked up the number is the New York $26,000 per year for student that include kindergarten this is not necessarily High School District kindergarten and Kida 5202 high school that's a never understand by that figure it's a little lower on the west coast ever won $15,000 a year per student I find this crazy number is given how effective especially primary education can be at the low-level 35 field and low level of investment and Deb just having good teachers having good values of the education system and having a way for people to evolve out of the putting up challenge is not nut under estimating what even a younger kids are able to do what do you think it's a future private education how does how does that work for you star what it is clear friends in many many different countries of the world notably Emerging Markets but no friend we're by the private sector is gaining market share from the state-sponsored education so I looked at multiple countries I've worked in multiple countries in improvisation and the the picture has been is pretty much is very similar many countries in Africa many countries in Asia and Latin America as well wear the pie of education schools in the country make many of those countries that I looked into the pie 20 years ago was ninety-nine percent of students would be attending state school and 1% would go to private school and 1% to say wipes and you look at it last year and 5% would have grown to text so basically over the course of say 20 years or so the market share when top 10 x that is on the back of the sad fact that a state-sponsored location in many many countries has been disaster and and that typically in turn is connected with the fact that schools don't expect rain in Ann Arbor for politicians to get on and get papers to to either directly to people or through Union and it when when you know what when you have the unions that are strong be bothering you too patience pays you inevitably unfortunately that is the case on on the nurses Union at the reality what you end up with is that the in indication between the interest in or taking into you have different stakeholders the other you have you end up your the question is is the student the ultimate objective and the focus of the efforts of the entire sector and the outcomes of this off of 16 or is the sector ending up as a production machinery for which I protected by the union and are not being made accountable to the outcomes of that...... Equation has not seen it in country of the country of the country and obviously parents realize that they see that the outcomes are suffering so that the children the future of the children is compromised because of our system prioritize dangers of the teacher sister of interest of the students and that's your letter to parents voting with their feet and their pockets and saying you know what I'd rather send my child to private that will prioritize my you know did the educational outcomes of my my my son or daughter not that it's basically that the trend in many many countries you could almost say worldwide and that has led to a strong strength as phone growth of education and public school and when you think of private schools in the US you typically you get this sense of you or you got the aftertaste of that being something for at least something which is very expensive but it doesn't have to be like that in in fact has been in an African Asian and you have you know in in in many places schools that cost $8 a day so this is this is very very very basic school have a swimming pool schools are supposed to send them to the free state sponsors because those schools are getting better outcomes so I guess I guess that is something that it is is very very interesting when you create a sense of accountability then I'll come scoop you up and when there's no accountability I'll come. So agree with the sentiment did the obvious issue that I always find that I detest I hope you have a metric to solve this is that schools especially in the US have been maybe not just in the US every ride ucation is measured as an input very difficult to measure the output and meet me at standardized test which kind of help that along a little bit to give you an idea about what is the output in a specific field the problem is that these tests are developed and then they going to linger around for 20-30 years the skills that is measured in these tests have been deported 20 years ago but I'm not important anymore at least now anticipate the future is so it's not a very flexible and that's you and I think schools in general statements Lunada Bay flexible me to give you a certain curriculum that was true when the Baby Boomers around and these baby boomers had a very secure career path you would go to high school you go to college you would send out a couple of CVS starting at 11 position you do a decent job not a terrible job and you have a house 3 children into cars and it was kind of guarantee that as long as you could screw up and become a criminal in the meantime but if you don't screw up completely this was not the average of company that isn't true anymore as we know DVD hold Boomers Society model might come back but it's it's kind of gone nobody can afford houses anymore most amount of Marcus it's maybe still true in in developing markets are you near put into developed markets this is over because there's not enough productivity growth you have less money than your parents for most young people and that's going to be true until a day at least 40 or 45 maybe because we live so much longer but what I think is the problem is that the EZ measuring about put universities were a little bit better or different because they could always stay over on average or gadgets make that much money and if you graduate from college you going to make that much money to that was little buggers in the first place in the kind of falling apart now but it's a little bit better a measure of output. What measure of output you with you would apply to private school specially yeah great question is no no perfect answer to that to my knowledge in in in in terms of standardized testing their their flaws and it's is difficult to measure things such as you know creativity out of a standardized test things that creativity ask you that you are going to play more more important role going forward when you know Ai and and robots will knock knock knock the distance future at start taking over more and more areas of of the economy everything that is repeat repeat people and can be I'll be can be learned by an algorithm will sooner or later be replaced by machine and creativity is something that you know at least in the near future will not be able to be replicated in so I have had some experience in the different different different countries approach the curricular what is told to children and I need a big fan of the international Baccalaureate in the 60's by an organization called the four Sons and Daughters of God would move from country to Country taking the children with them and you know it would want to have a standard curriculum where they moved from one country to the other ideas and Ivy School in the new country and they could sing this the funds to from from one school to the other supposed to when you go to a friend's golden German school or the other way around if it's it's very difficult a friction in him in any one of those transfers that that ends up being detrimental that was created with that with that constant and has developed a very curriculum which which stimulates the what I think our skills off of the future and posters those two skills which app do it instead of learning by heart as you know old school picture of the old schools would would basically if the artist information was right so information was scarce and because of that you needed to rest as much knowledge into your head because you needed to have that information to the Future so that the National Education curricular focus on on position and the storage of information and that what is the radical change over the course of disaster in particular today basically information is readily available from anywhere in a very easy way could be could be improved you do I have a Siri about you pretty much any question that you have and you're likely to find a response somewhere so no longer an issue but rather d a it did the Jasmine whether the information that you receiving is is coming from from reliable sources whether that information stated by some agendas and whether there are different points of views that need to be considered as part of the same question that you have sources and and determining different points for the same question are basically part of the core of of Georgia teacher teaching children to two of the French Revolution or teaching them how to find information how to make judgment calls about the quality of the information how to find different perspectives and then to take the station out of so you teaching them how to be how to make decisions how to be creative how to confront the situation for the first time and and then be able to look for for for for for equation that you need to take a decision in that particular account 38 International Baccalaureate curriculum at Ivy school and you do I find the future and I feel like you that did that's definitely the challenge for a lot of students these days are my kids that that have access to information and panic on the can't fathom reading any kind of source material I think it's been going on for the last 30 years and you you're right that the amount of information does not their kind of replaces if you can get it bias-free replace of your own research feed kind of DDD only I think this is the way to go from 99% of our future but that is 1% life and I think this is the one percent where you can become the true innovator and contributed to society is where you understand everything so you've read all the stores codes that are available to give gun down to the Adam off this problem and you came up with something that is a unique solution and we I have make this example now because I've been reading the source code of reading the Bible and related materials were reading the Quran the New Testament and I felt like everything I knew about religion just reading this commentary to it but mainly just reading the original Pax gave me an Insight I would have never gotten otherwise I could spend more time with you get a better view but I feel like there's a there's a different connection I did you get once you read The Source material and its many many entrepreneurs and many of the most important scholars in the beginning of the 20th century most of them so they had a very deep experience lunches in one field to another day look really deep down into any new or updated have memorized sound effect that's probably where this this idea came from the VA need to put some effect on the brain and they spend a lot of time in a couple of different fields and then they put those things together and then made a real impact and I feel once that the trouble isn't I understand that is impossible to digest all this information but if has more we specialize as more weed to give children the ability to skim the headlines and then realized it's just important or not and I make it make a judgment call to get make almost like a like a like a God-fearing call should I know more about this or not the most of the time is usually not that these for my kids that I go if I can watch YouTube video next week and I know more than before book so leave me alone and today is an argument food is as much more efficient but the trouble is you you lose his ability to truly anyway if you don't get down to the store and that requires a lot of brood learning kind of like the I learn French people don't know that but if you launched any I like zebit III what it does it it takes all the the knowledge all the data in its main memory and then a computer that's why there's a memory in computer hungry you can run in a high model with the top the dataset need to put all the data in there and then one main process you can't even paralyze it once the model is Bill it's very quick it's like an index but why you learning you there's no shortcut to The Brood profectum I told this is that and maybe there's no other alternative but most students today have no experience with ever going down to the stores and then coming in hurt in that field but not Justin. Fields I think it's what we are going to vacation is driven by knowing couple of different fields pretty well and then you can make an impact because you just take it from one field to another and just eat you use this piece of technology and help Society adopted I'm getting hotter if you don't know anyting deeply down anymore yes I agree with you and I anecdotally I don't know if this is something I haven't read any statistics about what subject do you have this feeling that because of the social networks and internet from the pervasiveness of offer in all sorts of sources of information quote unquote or social destruction that has led to a particular younger generation save our our children