Economic anthropologist @OxfordSBS. Billion-dollar family businesses, family offices, ownership, Islamic finance. Pursuing more than profit in capitalism.
"No question is more thorny for family companies than succession — the risks that handing the keys over to heirs can be a path to mediocrity." @SkollCentre Fellow @BKustin in the @FT on family businesses & why a toolkit for responsible ownership is much needed.
ft.com/content/2c71da25-7b12…
Fantastic to hear from @garyseconomics at today's #WealthManagement conference with the Good Ancestor Movement. Gary founded GarysEconomics, an educational YouTube channel, after quitting his trader job at Citigroup in Canary Wharf in 2008.
theguardian.com/business/202…
A frosty start to an exciting day here in Oxford - we'll be joining @BKustin & @steph_brobbey from the Good Ancestor Movement, for the inaugural conference on ‘Wealth Management’s New Imperatives’ @OxfordSBS ❄️
ALT The Oxford skyline from south park blanketed in frost.
.@SpearsMagazine is not reading the room. One day after #COP27, they're shilling seats on a semi-private jet service with a £250 coupon, for the start of ski season. There won't be a ski season left. We are in a climate emergency.
Professor @MaryaBesharov, Peter Flavel, CEO of @CouttsandCo, & Dr @BKustin speaking about the new business models for wealth management at today’s @SkollCentre Insights for Action seminar 💡
You hear a lot about the gigification and proletarianization of the academy but I did not know that part-time faculty at the New School, who went on strike today for a fair contract, make up *87 percent* of instructors at the university. hellgatenyc.com/new-school-o…
Several private banks have become a @BCorporation or @BCorpUK, and yet w/many people in the UK food insecure & unable to heat their homes, it’s time to consider how wealth management & private banking can change to address these crises. Join me & the CEO of Coutts…
Join us for the second seminar in our 'Insights for Action' series! @BKustin, Peter Flavel, & @MaryaBesharov will be discussing how ownership can be at the heart of economic injustice, but also how it can offer a potential corrective to it 👇
sbs.ox.ac.uk/events/new-busi…
ALT Text Reads: 'Insights for Action. New business models for wealth management. With Dr Bridget Kustin, Peter Flavel and Professor Marya Besharov.' On a dark blue background with an orange arrow to the right.
UPDATE—Just learned that Eli Lilly executives are raging and furious at losing $20 billion in market cap from this stunt with @TwitterBlue. It’s too bad they don’t see their own damn insulin price gouging as the actual problem. Karma @LillyPad, karma.
It costs corps like @LillyPad ~$70 to produce a year’s supply of insulin. Yet the avg annual price of insulin went from $2,864 in 2012 to $5,705 in 2016 to $12K in 2022😳
A 17,142% markup isn’t inflation & it isn’t supply chain issues—it is 100% corporate greed.
#MakeInsulinFree
Come to think of it, @LillyPad, why isn’t your insulin at-cost? That’s right, because the most lucrative pharma client is the one who doesn’t die, but never gets well. Reduce your obscene insulin profits. #elililly
1. It is with great sadness that we learn the news of Bruno Latour’s passing today. He was an intellectual giant, a friend, & someone whose work inspired me greatly. A thread for those who want to know more about this extraordinary life.
YIKES! 100 sustainability linked bonds worth ≈€70 billion were sold to investors in Europe, the most mature market for sustainable finance products. The majority (incl by @CHANEL) are tied to climate targets that are weak, irrelevant, or already achieved shorturl.at/jAUZ4
GOOD. New @UniofOxford travel guidelines to reduce our GHG emissions. More like this, please.
-No domestic flights
-No flights to Paris and Brussels (use Eurostar)
-No first-class flights
Also a hugely powerful move. The non transparency of the speakers’ fees economy is shocking to me. @lphalippou81 is one of the only academics I’ve met who’s website is transparent about this. Of course these fees shape incentives and ultimately what people do/do not say & do
I donated the speaker fee for this event to Indigenous Land Defenders in Mexico. If you are able to, please join me in redistributing some money to the frontline groups who are often sidelined by funders but are truly transforming the world: gofundme.com/f/indigenous-co…
The future. This view will only become more widespread. Well done to @mikaelaloach for so elegantly, powerfully, and compassionately expressing this view!
Billionaire philanthrocapitalism will not save us. The Gates Foundation invited me to speak at their annual #Goalkeepers2030 event and I could only show up in that space if I challenged it. Here’s some of what I said:
Instead of “going public,” you could say we’re “going purpose.” Instead of extracting value from nature and transforming it into wealth for investors, we’ll use the wealth Patagonia creates to protect the source of all wealth.
Read Yvon's letter at pat.ag/Ownership