Building an Economy of Owners

Chairman of the Board and Founder, Telesystem

An economy of owners is performed at many, many levels and because it is done at a family level, strong value, long-term view, and sustainability are some things are some things, which is the foundation. You know, many times the family is not expecting to have a quick return and they don’t flip enterprise, they build enterprise. When you build enterprise, you have to have a certain degree of patients because the enterprise are not built overnight. Our family has been in the venture fund we run many, many ventures in fact, we’ve been a certain period of time the largest investor in the whole country. You know what I hate in venture fund? You need to build, perform and sell in less than ten years it’s crazy. It takes more than ten years to develop an enterprise, but that’s the world in which we are and that’s if you decide to perform and gave an enterprise to do that you run according to that. After doing that many years, you look at that and say; you know it takes more than ten years to develop and enterprise. When you have patient capital up to a point, and by the way patient capital does not mean not performant capital, two different things. You can ask high degree of performance and all that but you can be more patient, you don’t need to have everything done every quarters and things like that, that’s the way to build enterprises. Imagine an economy where you have all those families acting as owners and supporting other members of the family or other executives to become entrepreneurs, managers of enterprises that would be an amazing tool of development.