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The Crisis of Capitalism and The Unlikely Solution​ | Maurice Ostro | TEDxCamden


I shouldn’t be here I shouldn’t even

have been born by the laws of

my late father max should never survive

the Holocaust the only member of his

family to do so and it wasn’t by

happenchance it wasn’t some singular

accident it was miracle after miracle he

his brother and their parents my

grandparents were on the train to

Treblinka a death camp where they all

were murdered including my grandparents

but my father and his brother jumped off

that train but in order to increase the

probability of survival because there

were Nazi sharpshooters on top of the

Train they had to jump at night under

my uncle didn’t make it my father did

but then he was captured taken by the

Gestapo to a camp and by some miracle

survived most of the war in that camp

but then in the end the Nazis wanted to

murder all the remaining Jews that were

alive get rid of all the witnesses so he

escaped again miraculously and with the

help of the Chet Acosta family wonderful

Polish Catholics who saved my Jewish

father they put him in a pit a living

grave with just a hole for air and once

a week they would bring a bottle of

water and some potatoes it’s what they

had it was the end of the war December

1944 and he remained there until the

middle of January 1945 can you imagine

those weeks in a grave why

I think you’d understand that for me

it’s not a satisfying explanation to say

well he survived all that so that his

kids could get the latest smartphones

have great holidays it just doesn’t

satisfy as an answer does it and it

always goes on in my mind why did he

survive why am I here for what purpose

am i alive 52 years I’ve been having

this thought sorry I had to say that

tomorrow’s my birthday that’s the last

time I’ll say 52 and I have a little

present for all of you you’ve seen these

little note pads that were on your chair

and there’s a hash tag I’ll tell you

about that later so I’m an entrepreneur

what do I do I create businesses one of

them I have here’s a gemstone business

and no that’s not my next holiday that’s

Myanmar I’m going there on Sunday

because we have a project there and the

project is to help the most economically

disadvantaged people generally it’s

women and we do it by combining Muslims

and Buddhists working together you all

have heard about the terrible things

going on there with our hunger in the

north of the country so just as the

Catholic Church uh coughs keys saved my

Jewish father I use that business not

just the money to train them but

teaching them a skill so these women are

learning gemstone cutting because when

the gemstone business and it’s a little

bit like teaching them out of fish and

then giving them a market to sell their

fish because I connect them to

international markets so they can make

some decent money with what they’re

doing but I haven’t always got it right

in fact quite the opposite I started a

business in 2000 called airfare was

doing airline catering here in Heathrow

and one day

a man comes to my office asking for

charity for support from the company for

a marathon that he’s doing for charity

fantastic great cause I’d say of course

no problem but why is he coming to me it

was fairly trivial I always gave 10% of

the company to charity and this was a

charitable foundation it was plenty of

money there why was he coming to me put

some trim amount and I was a bit bemused

and I asked and he said well I did go

when I asked the supervisor and he said

I don’t think the company does anything

with charity and he sent me to the human

resources department and they looked at

each other perm use I didn’t know they

went then to finance department everyone

was bewildered I don’t think there’s

anything finally I came to see you he

says and I thought oh my god I’ve really

screwed up this is terrible I’m an

entrepreneur I should know that

team-building stuff is the lifeblood of

successful businesses if you want to

have a business that really motors you

need to get everybody working together a

common vision we all know that today

more than ever

we’re not 88% these are staggering

statistics 88% of Millennials want to

work for companies whose ethos reflects

their own and those people are three

times more productive fantastic and I’m

an entrepreneur I should know this

perhaps I didn’t deserve an Obie from

the Queen for entrepreneurship because

this was such a basic stuff that I knew

tell and share with my employees this

thing is this some misguided notion or

perhaps you know don’t make a big fuss

about it it’s charities for yourself it

doesn’t have to be about ego don’t need

to make a big song and dance about it

but what I missed was an amazing

opportunity for my staff people working

with me to have that incredible energy

and enthusiasm that comes when you know

you’re doing something not just the work

that you’re doing you know of course you

have to earn a living we understand that

and yes share

all those owners expect to return but if

you go to the office and you know that

10% is in my case of your time who’s

doing good stuff things that you cared

about that fun run we were supporting

the charity anyway

what an amazing empowering thing would

have been for the staff

I miss that opportunity I forgot about

this I forgot about sharing that purpose

with everyone and what did I do about it

well I see not very much for a long time

but a few years ago I started to feel a

lot of unease about what was going on

this crisis of capitalism look at this

trust levels plummeting this is

charities which is certainly better than

business but look at the downward graph

business Oh government where’s

government oh yeah they’re like here and

not surprising I mean who believes that

government has the answers it’s complete

mess

maybe charity possibly look what’s

happening this is by the way not a typo

that is 60% other people in this country

don’t have trust in the system and it’s

not getting better

do you guys remember this Lehman

Brothers bankers they invested not their

money pension fund money our money in

subprime mortgages fancy derivative

products they don’t understand that any

more than we do lost that money so why

should we trust them oh wait maybe there

was an answer we did think for a while

tech companies right do no evil do we

believe that now they take our data they

sell it from enormous profits they don’t

robots artificial intelligence the

governor the Bank of England Mark Carney

said in a recent speech

15:1 five million people in this country

are going to lose their jobs that half

the workforce we don’t have a great

future to look forward to if we think

things are bad now they can and will get

worse unless we do something about it so

I have a suggestion to make an idea and

it’s not government and it’s not just

companies or US charities to who here

gives to charity it’s Camden I expected

a very generous audience not surprising

and who here gives to charity every hour

not many nor me because it’s not natural

but business does engage every hour of

every day so I had an idea

entrepreneurial giving I call it AG AG

because besides that it’s about examples

examples of people doing well by doing

good great entrepreneurs great

philanthropists great businesses

remember the productivity remember how

many Millennials want to work the best

of people on to work for companies with

purpose so we have a just of a simple

idea a pledge you click on the website

entrepreneur on giving and it’s free

takes you two minutes you’ve got all

your accounting advice legal advice HMRC

approval all done all you have to do is

click on and say I want to give X

percent to charity

whichever purpose that you want to embed

in your business but it’s not about

giving it’s actually more about

entrepreneurial success

but it’s about embedding that purpose

right at the very outset of your

entrepreneurial journey why well for

those of you that are parents can you

imagine if you had children you sit them

you know what I want you to do really

really well in school and everything

work hard don’t you think about anything

not about morality ethics just knows

down to the grindstone just make a

success of yourself and maybe when

you’re 18 or later I’m gonna sit around

with you and talk to you about you know

your role in the world and what you can

do that’s not gonna work so why do

people and businesses think you know

what we’re gonna do I’m gonna make tons

of money gonna be really ruthless gonna

do everything bad but at the end I’m

gonna give money so it’ll all be okay

there’s an opportunity without giving

money that every business has and the

things that they do recruitment gender

diversity ethnic mix supply chain not

buying products who companies that use

child labor or thinking about the

environment all these things these are

decisions that companies make each and

every day that affect all of us that

affect society and how does this affect

us how do we interact with that simple

were consumers we know by the way that

consumers pay more for products and

brands that have purpose so this is

actually about being successful business

by doing well by doing good

and it’s free and we have amazing

companies that are saying every company

I’ve asked I said would you host a small

group two three dozen people to come an

evening and and share together to create

a little community of like-minded

entrepreneurs and they all say yes some

of the biggest names companies that you

will all know and entrepreneurs and

educationalists and philanthropists all

them say yeah will come and give an hour

of our time to come and talk to these

people not just here but in cities

around the UK

indeed cities around the world so that

cafe that new cafe here in Camden

can connect with the cafe in Calgary in

Canada and with the cafe in Calcutta

it doesn’t matter they’re all startup

businesses they all want to make a

difference they want to talk and engage

and inspire one another with new ideas

how to be successful but also how to do

good while doing well so the idea that

we have a business translates now to

something that I’m going to ask all of

you if you would like to do a pledge and

why a pledge because writing it is

proven as data that shows you are 42

percent more likely to achieve your goal

just by committing it to paper so I ask

you what is your purpose what legacy do

you want to share maybe it’s

volunteering maybe it’s going through

revolving doors to avoid heat loss or

thinking about how we use plastics maybe

it’s reaching out to entrepreneurs who

you meet and say you know about this

community have you how do you embed

purpose and everyday and what you do

whatever it is that you want to do to

share it with us so I’ve put the hashtag

here for you to use if you want to share

it with me

I’d love to hear from you guys what

you’ve decided to do or share it with

your friends share it with your family

all of us together can make a difference

I shouldn’t be here but I am and I know

that at the end of the road I feel

passionately there must be a legacy

there must be something positive that I

I can’t do it alone

nobody can not government not charity

not business but all of us together can

so I ask together let us make a pledge

together let us change society together

let us be the example thank you [Applause]

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