Yesterday evening, in our little family bubble, together with my 17 & 19 year old children, we watched “The social Dilemma” on Netflix.
The documentary touches many pressing societal challenges and shows how they are interconnected: burnouts, polarization,climate change, brexit, black lives matter, presidential elections, fake news, financial pressure, short-termism….
Since the business model of those giants is based on the click-rates, it is directly linked to the time we spend on this media,… The more we are online, the more they know about us, the more accurate their predictive advertising models, the higher the turnover, the bigger the profit, the higher the shareprice… As long as investors only look at the bottom line, these mechanisms will continue to damage our health, our planet, our democracies.
For me the conclusion is this: it all starts with the way investors use their money. This is the reason why I accepted to become chairman of Solifin from 2021 on. Our goal is to change the Belgian landscape of investors. All investors should become impact investors, looking for the triple bottom line: People, Planet, Prosperity. When investors go for the benefit of all, for the long term, for the common good, we maybe even can change those giant social media platforms and use them as fantastic tools. They can be used for the common good. They should.