population has grown ~9x in 200yrs, while poverty trends to 0
people act as though capitalism is a zero sum game, but it’s actually the only system that creates positive sum outcomes
the average person today is far richer than most kings in days past
Rachel is absolutely right.
The fact that Revolut still can’t get regulated in the UK over a decade after founding is a failure of state capacity.
This is the first UK-founded company likely to surpass a $100bn market cap—and yet the country has systematically missed the upside:
•No British capital on the cap table—UK pension funds and endowments missed out
•High-paying jobs now mostly overseas due to domestic talent shortages (fewer than 50% of staff are UK-based)
•Founder moved to Dubai to avoid punitive capital gains tax
•No chance of LSE listing without serious reform—another blow to UK wealth creation and tax revenue
The UK should have benefited from this success story through jobs, taxation, and institutional prestige. Instead, we exported it.
We can’t solve stagnation or the productivity crisis without backing startups to scale and list here. That means better regulation, better tax policy, and a functional public market.
If the Bank of England can’t evolve to support that mission, it needs new leadership.
Our founder @parkerconrad is known for his candor: "Whenever founders ask for my advice, I tell them: 'Don't start a company. It's a terrible idea.' The journey is soul-crushing and harder than most people realize."
But if you're already on this path, the last thing you need is administrative busywork stealing your focus and limiting your runway.