Friedberg predicts energy production should increase 100-fold over the next century versus 20-fold in the last.
“So we've increased energy production by about 20 fold in the last hundred years on earth. I think in the next hundred years, we can and should increase energy production by over a 100 fold.”
Friedberg distinguishes between mere acceptance and learning from failure to achieve growth and progression.
“You accepted it, but you're not growing from it. Once you actually learn from that, then you have that growth and you have a progression.”
Friedberg states Koch Industries scaled 9,000X by building a compounding advantage through its operating principles and reinvestment.
“And you've scaled 9,000 X. You've built a compounding advantage in your business. Right. As is the case with all successful capitalists, you build a compounding advantage.”