Apple has become the first American company to reach US$1 trillion in market capitalisation – US$1,000,000,000,000 in stockmarket value. Behind this glittering success, however, lies
a series of unresolved ethical dilemmas a history of staggering labour exploitation.
The approaches of Apple and the other giant US platform technology companies (Google, Facebook, Amazon) to corporate taxation, concentration and privacy have attracted widespread criticism.
But as a manufacturing company Apple faces a more deep-seated problem. This involves the millions of people employed in its supply chain, which is largely located in China with the major contractor Foxconn.
Our research shows human rights, environmental and ethical problems persist inside Apple’s vast global supply chains.
Continue reading Apple’s $1 trillion riches based on innovation and exploitation
Innovation and entrepreneurship are very much the flavour of the month. Widely regarded as instrumental in the next wave of economic growth, determining the ultimate recipe for innovation and entrepreneurial success is by many considered to be the holy grail. Indeed, we are all being encouraged to become like Steve Jobs, Mark Zuckerberg and other hero entrepreneurs that somehow went from eating macaroni and cheese in a garage or a campus dorm room every night, to becoming obscenely rich by inventing new things we now obsessively use or log into every day.
Continue reading Abusing Innovation
We are still awaiting the details of the Federal Government’s Entrepreneurs’ Infrastructure Program, and how this may impact the Australian entrepreneurial ecosystem.
While this program is estimated to provide $484 million of funding, this is only half of what was spent under now-scrapped programs such as Commercialisation Australia, the Innovation Investment Fund and the Industry Innovation Precincts, representing a significant decline in government spending on entrepreneurs and innovation. While many agree that government programs can be improved, the cuts show a lack of understanding of the Australian entrepreneurial ecosystem.
Continue reading The ‘Myth’ of the Australian Entrepreneur