Climate Change & the Innovation Economy (w/ Bill Janeway) | Future Fears

Venture capitalist Bill Janeway gives Real Vision a look inside climate change and the changes, both financial and human, it might affect. Looking at collective responses to prior crises, Janeway lays out how those consequences might take form. This video is excerpted from a piece published on Real Vision on December 31, 2018. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Watch more by starting your 14-day free trial here: https://rvtv.io/2GDiAuu About Future Fears: What s coming that we should all be worried about? What keeps the world s greatest investors up at night? Household names of finance discuss the terrifying potential risks posed by artificial intelligence, the rise of social media, autonomous vehicles and more. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Twitter: https://rvtv.io/2p5PrhJ Instagram: https://rvtv.io/2J7Ddlw Facebook: https://rvtv.io/2NNOlmu Linkedin: https://rvtv.io/2xbskqx Climate Change & the Innovation Economy (w/ Bill Janeway) | Future Fears https://www.youtube.com/c/RealVisionTelevision Transcript: For the full transcript: https://rvtv.io/2GDiAuu Will China actually succeed in moving from being the most effective follower in history to the next leader of the innovation economy? The really biggest strategic question-- US has now had a run about 100 years as the undoubted acknowledged leader of the innovation economy, not just the military leader, but the leader of developing, deploying, and showing what to do with this new stuff. Well, the question that I have-- the biggest strategic question is, will China actually succeed in moving from being the most effective follower in history to the next leader of the innovation economy? I don't know. They don't know. This 3-player game with Chinese characteristics between their state, their financial markets, their evolving market economy-- it's an indeterminate game. But we do know that for the last 10 years, they've been spending more money on R&D in green and clean tech technologies. They have the authority of the state if deployed. And they certainly have signed to that to mobilize the resources to shift radically the carbon content of their economy. And, as I say, we've abdicated. I don't know what the answer to that question is. Our children will-- our children will learn what it is. And it's an enormous strategic question that goes beyond the immediate political arguments in the US of which I think the single most important is, whether we can-- maybe not until beyond 2020-- try to play catch up if World War II hadn't happened, if Korea hadn't happened, if the Defense Department in 1950 had been the size of the Defense Department in 1938, the digital revolution would still have happened. It wouldn't have been a revolution. It would have been an evolution. It would have taken 2 generations or 3, not 1 generation. There would have been less disruption. That wouldn't have made that much difference. The problem this time around is that climate change isn't going to wait. When was the last time you were this worried? Or is the most worried you've ever-- Well, I was really worried in 2007. In my-- So those 2 points in time, 2007, and where we're at right now are comparable. Well, they're different. They're different. But comparable. Comparable, certainly, in concern. There, the concern was immediate. Now, during my-- what I call my 35-year sabbatical from Cambridge University when I was working as a venture capitalist, I got to know one maverick renegade, brilliant economist really well. His name was Hyman Minsky-- the Minsky moment.