SwissCognitive co-founder Andy Fitze, on building wealth, self-made millionaires, and the necessity of smart investing.
Andy Fitze, Co-Founder of SwissCognitive, World-Leading AI Network
Copyright: itmagazine.ch – “The Dilemma of Matthew 25:14-30 – Investing Wisely in Today’s World of Legacy and Innovation”
Jesus narrates, as in Matthew 25:14-30, about a master who entrusts his servants with financial resources and demands accountability upon his return. The first two servants make a profit and are rewarded. However, the third servant, out of fear, invests nothing and hides the money. His funds are taken away and given to the most successful servant.
Next year, around 90 billion Swiss francs will be inherited in our country. Economist Marius Brülhart calculated this figure (as of 2021). He states, “It’s a massive amount. It’s about 12% of the Gross Domestic Product, surpassing the entire federal expenditure. It’s roughly double the total pension payments of AHV in a year.” The inherited sum has almost quintupled in the last 30 years.
Scientists argue that it’s nearly impossible to accumulate wealth today without inheriting. However, a Forbes ranking reveals that 67% of the 400 wealthiest Americans are self-made billionaires. They became affluent through a brilliant idea and the right mindset. The significance of inheritances is overestimated since most heirs cannot maintain or even grow the wealth. Looking at the list of the world’s wealthiest individuals, it’s evident that most, if they didn’t inherit, became wealthy as entrepreneurs. The ultra-rich became so through exceptional ideas.
Back to Switzerland and the parable: We Swiss have a lot of entrusted money. Many smart people and ideas. Let’s deploy it and invest in fantastic ideas. If not our own, then we can at least support others. Because if we only inherit, one day the parable might strike, taking everything away from us. It’s like an irreversible madness: money in the bank, but devoid of ideas.
Pure inheritance brings the state 1.4 cents per franc. Smart investing, on the other hand, has a much more positive impact on our GDP and, consequently, our prosperity.
Thank you for reading this post, don't forget to subscribe to our AI NAVIGATOR!
If we can do something for our children, our future, and thus for future generations, it’s to make money work sensibly and with risks for our country’s future. Risk investments in great ideas are as crucial as sponsorships for our society’s infrastructures like education and research or international initiatives for a global order. As Steve Jobs said, “Innovation distinguishes between a leader and a follower.”
On behalf of Victorinox, Schindler, Jakob Müller, SwissLog, PB Swiss Tools, Lantal Textiles, Gallus, Franke, Starrag, Aebi, Ypsomed, Georg Fischer, Sefar, SIG, Huber & Suhner, Geberit, Bühler, Orgelbau Kuhn, Burckhardt Compression, Firmenich, Laurastar, Hipp, Trisa, Endress+Hauser, Weleda, Menzi Muck, and many more founding fathers, let’s be innovative and invest in the future. Not for us, but for our children.
Original article: www.itmagazine.ch
About the Author:
Andy Fitze is a serial entrepreneur, digital cognitive strategist, AI influencer, and top global AI and digital transformation advisor for start-ups and enterprise boards. Andy was featured in Onalytica’s Who’s Who in AI report October 2021 and is one of the top digital shapers. With Dalith Steiger he co-founded the award-winning start-up SwissCognitive, and the CognitiveValley Foundation. He is president of the Swiss IT Leadership Forum, member of the Board of Directors of SwissICT. Andy sits in several Boards of Directors of various companies. Andy is a lecturer and Member of the Strategic Advisory Board at Bern University of Applied Sciences and is a lecturer at the ETH for CAS Architecture Digitization. Previously Andy worked as Group CIO of RUAG, and at PostFinance he was responsible for IT governance. He holds a degree in electrical engineering (HTL), an Executive MBA from the University of St. Gallen, and received the Swiss CIO Award for Best IT Manager in Switzerland in 2015. To share his 30 years of extensive knowledge and experience, Andy is often seen on global stages. He is also a passionate skipper on the oceans – providing him with a great balance for head and soul.
SwissCognitive co-founder Andy Fitze, on building wealth, self-made millionaires, and the necessity of smart investing.
Andy Fitze, Co-Founder of SwissCognitive, World-Leading AI Network
Copyright: itmagazine.ch – “The Dilemma of Matthew 25:14-30 – Investing Wisely in Today’s World of Legacy and Innovation”
Next year, around 90 billion Swiss francs will be inherited in our country. Economist Marius Brülhart calculated this figure (as of 2021). He states, “It’s a massive amount. It’s about 12% of the Gross Domestic Product, surpassing the entire federal expenditure. It’s roughly double the total pension payments of AHV in a year.” The inherited sum has almost quintupled in the last 30 years.
Scientists argue that it’s nearly impossible to accumulate wealth today without inheriting. However, a Forbes ranking reveals that 67% of the 400 wealthiest Americans are self-made billionaires. They became affluent through a brilliant idea and the right mindset. The significance of inheritances is overestimated since most heirs cannot maintain or even grow the wealth. Looking at the list of the world’s wealthiest individuals, it’s evident that most, if they didn’t inherit, became wealthy as entrepreneurs. The ultra-rich became so through exceptional ideas.
Back to Switzerland and the parable: We Swiss have a lot of entrusted money. Many smart people and ideas. Let’s deploy it and invest in fantastic ideas. If not our own, then we can at least support others. Because if we only inherit, one day the parable might strike, taking everything away from us. It’s like an irreversible madness: money in the bank, but devoid of ideas.
Pure inheritance brings the state 1.4 cents per franc. Smart investing, on the other hand, has a much more positive impact on our GDP and, consequently, our prosperity.
Thank you for reading this post, don't forget to subscribe to our AI NAVIGATOR!
If we can do something for our children, our future, and thus for future generations, it’s to make money work sensibly and with risks for our country’s future. Risk investments in great ideas are as crucial as sponsorships for our society’s infrastructures like education and research or international initiatives for a global order. As Steve Jobs said, “Innovation distinguishes between a leader and a follower.”
On behalf of Victorinox, Schindler, Jakob Müller, SwissLog, PB Swiss Tools, Lantal Textiles, Gallus, Franke, Starrag, Aebi, Ypsomed, Georg Fischer, Sefar, SIG, Huber & Suhner, Geberit, Bühler, Orgelbau Kuhn, Burckhardt Compression, Firmenich, Laurastar, Hipp, Trisa, Endress+Hauser, Weleda, Menzi Muck, and many more founding fathers, let’s be innovative and invest in the future. Not for us, but for our children.
Original article: www.itmagazine.ch
About the Author:
Share this: