Future Proof Your Business: Gen Zs and Hedging Against Rising Debt | Idris & Leon Jala | EP18

Summary

In this episode of 'The Game of Impossible' podcast, Leon and his father Idris delve into the necessity of transforming the global economic model, addressing unsustainable debt and the need for innovation. They discuss their experiences in Indonesia, engaging with future leaders and sharing insights on transformation through business, leadership, sport, and faith. The conversation highlights embracing megatrends, future-proofing organizations, and the importance of adapting to the evolving needs of younger generations, all while maintaining a focus on purpose and legacy.

Takeaways

• 🌐 The world needs to change its economic model, with the U.S. being highlighted as an unsustainable model despite its status as a modern world leader.
• 📈 There is a significant number of Americans living on food stamps, indicating that the U.S. has not developed in an inclusive manner.
• 💼 High leverage in businesses and governments is common but becomes problematic when debt becomes unsustainable, affecting countries like the U.S., Japan, and the UK.
• 🔄 The world is facing a potential shift from traditional currencies to digital ones, which may become the norm in global trade contracts in the future.
• 🏥 The healthcare industry is in need of innovation, especially with the aging population and the rise of non-communicable diseases, suggesting a move towards digital and remote specialist consultations.
• 🚗 Electric vehicles are a growing trend due to climate change concerns, presenting opportunities for companies that can innovate in this sector.
• 💡 Mega trends like climate change require massive investments, such as the estimated $150 trillion needed for energy transition, which may not be feasible with current debt levels.
• 🌟 Successful countries like those in Scandinavia have managed high-income statuses without high debts by implementing high taxes and transparent spending on public services.
• 🛠️ Organizations need to future-proof themselves by identifying and embracing mega trends, innovating their business models, products, services, and processes.
• 🤝 The concept of 'giving away your best' is highlighted as a way to create a legacy and positively influence other industries and sectors through the dispersion of talent and culture.
• 🔑 Key to future-proofing is the willingness to let go of the best talents, document processes, and embrace the revolving door of top talent, ensuring the organization's DNA and culture continue to thrive.

Q & A

What is the main topic discussed in the 'Game of Impossible' podcast episode?

The main topic discussed is the need for a change in the global economic model, with a focus on the United States as a model country, and the challenges faced by the current system, including high leverage and unsustainable debt.

What is the significance of the number 18 in the context of the podcast episode?

The number 18 signifies that it is the 18th episode of the 'Game of Impossible' podcast.

What was the purpose of the invitation to Jakarta?

The invitation to Jakarta was for the speaker to be one of the lecturers at a leadership and development course aimed at preparing decision-makers in Indonesia for the incoming president's administration.

What is the role of the 'IT Christian Fellowship' in the context of the podcast?

The 'IT Christian Fellowship' hosted a Q&A session where the podcast hosts discussed transformation through the lens of business, leadership, sport, and faith, with a Christian Ministry perspective.

How does the speaker describe the current state of public debt globally?

The speaker describes the current state of public debt as unsustainable, with the total debt of the world reaching 307 trillion US dollars, which is 336% of global GDP.

What is the speaker's view on the future of global trade and currency?

The speaker believes that in the future, global trade will likely be denominated in some form of digital currency, possibly a basket of currencies not owned by a single organization or country.

What is the concept of 'Mega Trends' as discussed in the podcast?

The 'Mega Trends' refer to significant global trends that organizations, businesses, or governments need to identify and adapt to in order to stay at the forefront of innovation and transformation.

What does the speaker suggest as a way to future-proof organizations?

The speaker suggests identifying and embracing Mega Trends, innovating business models, products, services, and processes, and eliminating, simplifying, standardizing, and automating where possible.

How does the speaker address the issue of high attrition rates in the consultancy industry?

The speaker addresses the issue by suggesting that organizations should innovate their HR policies to suit the trends, such as giving employees a sense of ownership through virtual equity units and being upfront about their career aspirations.

What is the concept of 'multiplication' as discussed in relation to leadership and talent development?

The 'multiplication' concept refers to the idea of leaders investing in their team members, not just to keep them within the organization, but to empower them to go out and make an impact in different sectors, thereby spreading the organization's culture and values.

What are some of the Mega Trends mentioned in the podcast that organizations should be aware of?

Some of the Mega Trends mentioned include climate change, energy transition, aging population, non-communicable diseases, AI and digital innovation, and the rise of electric vehicles.