KEN BANKS’ BLOG NOVEMBER 2021
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GREAT BRANDS CAN DO GREAT THINGS
Successful brand strategies historically have been the key to aggressive growth by American companies. As these companies have grown into multi-billion dollar conglomerates, the benefits to industries, investors and local economies have been the cornerstone of our capitalistic society. It has made a lot of executives and investors very wealthy. However, some the longest lasting benefits from this growth in wealth has been those that have resulted in re-investment by corporations, foundations and individuals into technology, innovation, research and (just as important) into charities. As we look around our country and see its most important accomplishments, we have to thank the capital growth that provided the foresight and knowledge that have been the landmark of our success.
The investment has never been greater than the past year where we have seen three major brands and the parent companies invest in space travel. Jeff Bezos, Amazon founder and world’s richest individual, has always donated much of his wealth to charities and foundations for a better society. Amazon’s investment in robotics and clean energy have benefitted the company for sure, but the innovations have changed the way many companies are doing business as we move away from brick & mortar retail and distribution. His most recent investment into space exploration and travel has attracted media and public notice this past year like nothing before. He personally invested over a billion dollars while the company and foundation have reportedly invested the $5.5 Billion needed to launch the first Blue Image rocket a couple months ago. Let’s not forget the $28 million donated to become one of the passengers. Bezos had competition in the space race with fellow billionaires Richard Branson ($250 million) and Virgin Galactic as well as Elon Musk’s Tesla/SpaceX (nearly $100 billion) also launching space missions this fall with more scheduled soon. Certainly, these ventures will have significant benefits to technology, travel, and transportation in the coming years, just as NASA’s investment in space has changed the way the world lives in so many ways. For that we all must be grateful to the benefits of capital growth and successful entrepreneurs like these three.
As we approach Thanksgiving, however, I can’t help but think what even more far-reaching benefits could be realized from these billions of dollars spent to launch rockets could be realized in other more direct ways. How much of these funds could have been used to research the viruses that have plagued us now for almost two years. Could we have prevented the pandemic had we spent more to research in advance? I think about the toll that Alzheimer’s has taken on the lives of millions around the world and dream of a cure that may have been developed to prevent or treat this deadly disease. The same holds true for cancer and all the various types that so many of us have experienced in the past few years. We can go with all of the other ailments both physical and mental that we might be able to cure or at least understand more completely if we have the funding to do the research and testing necessary. We can also fund the education and training that is necessary to develop the solutions by offering more schools and scholarships to help develop the expertise that necessary. The government has just passed a bill to fund trillions of dollars on infrastructure needs that effect our way of life and this is long overdue. The infrastructure of our medical and education needs are no less important and may be even more necessary in the future. So for those companies (brands) and individuals that have shared their wealth in making the world a better place, we should all give thanks and hope that they will continue to explore all the needs here on earth as much as in outer space.
Happy Thanksgiving.
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