Episode
#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
3:38:27
Published: Sat Aug 13 2022
Description
Magatte Wade is an entrepreneur with a passion for creating positive change in Africa through economic freedom. Please support this podcast by checking out our sponsors: - Mizzen+Main: https://mizzenandmain.com and use code LEX to get $35 off - Audible: https://audible.com/lex to get 30-day free trial - InsideTracker: https://insidetracker.com/lex to get 20% off - Onnit: https://lexfridman.com/onnit to get up to 10% off EPISODE LINKS: Magatte's Twitter: https://twitter.com/magattew Magatte's Instagram: https://instagram.com/magattew Magatte's Facebook: https://facebook.com/themagattewade Magatte's Website: https://magattewade.com Websites mentioned: Austin housing project: https://texansforreasonablesolutions.org Center for African Prosperity: https://atlasnetwork.org/partners/center-for-african-prosperity PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ YouTube Full Episodes: https://youtube.com/lexfridman YouTube Clips: https://youtube.com/lexclips SUPPORT & CONNECT: - Check out the sponsors above, it's the best way to support this podcast - Support on Patreon: https://www.patreon.com/lexfridman - Twitter: https://twitter.com/lexfridman - Instagram: https://www.instagram.com/lexfridman - LinkedIn: https://www.linkedin.com/in/lexfridman - Facebook: https://www.facebook.com/lexfridman - Medium: https://medium.com/@lexfridman OUTLINE: Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time. (00:00) - Introduction (05:55) - Africa (34:48) - Magatte's story (1:03:36) - Corruption (1:25:01) - Advice for young people (1:46:02) - Identity (2:06:58) - BLM (2:24:18) - CRT and racism (2:54:32) - African geopolitics (3:03:02) - Overpopulation (3:21:49) - Loss
Chapters
The host of the podcast discusses the benefits of Audible audiobook service and how it has provided him with hours of education through listening.
00:00 - 02:38 (02:38)
Summary
The host of the podcast discusses the benefits of Audible audiobook service and how it has provided him with hours of education through listening. He also mentions the benefits of being able to listen while doing other activities, such as running.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The future of medicine will rely heavily on algorithms and time series data from our bodies, with minimal input from human doctors.
02:38 - 09:29 (06:51)
Summary
The future of medicine will rely heavily on algorithms and time series data from our bodies, with minimal input from human doctors. It's important to prioritize cultural inclusivity in healthcare, especially for foreigners who may feel out of place and uncomfortable in a new environment.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The speaker argues that San Francisco's idea of diversity is too limited to gender and skin color and should extend to include socioeconomic diversity in order to remain an inclusive city.
09:29 - 14:41 (05:11)
Summary
The speaker argues that San Francisco's idea of diversity is too limited to gender and skin color and should extend to include socioeconomic diversity in order to remain an inclusive city. She praises the project by Nicole Nocek to ensure affordable housing for people of all walks of life in Austin.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The scarcity of affordable housing is a result of keeping the supply level below the demand.
14:41 - 20:45 (06:04)
Summary
The scarcity of affordable housing is a result of keeping the supply level below the demand. By increasing the supply of housing, prices will decrease and more people, especially the lesser fortunate, will have access to it.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The resentment towards white people may stem from their entitlement attitude, especially considering that the first slaves were actually people who looked more like white people than black people.
20:45 - 25:11 (04:25)
Summary
The resentment towards white people may stem from their entitlement attitude, especially considering that the first slaves were actually people who looked more like white people than black people. However, treating others decently and as friends can help break down these attitudes.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The concept of prosperity in African countries is often associated with the implementation of free market policies that promote the growth of businesses.
25:11 - 37:58 (12:47)
Summary
The concept of prosperity in African countries is often associated with the implementation of free market policies that promote the growth of businesses. Despite other challenges that these nations may face, a focus on business development can lead to increased prosperity.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
In this episode, the speaker reflects on his childhood experience of questioning why some countries are rich while some are poor, and discusses the origins of poverty and inequality.
37:58 - 43:04 (05:05)
Summary
In this episode, the speaker reflects on his childhood experience of questioning why some countries are rich while some are poor, and discusses the origins of poverty and inequality.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The speaker reflects on the entrepreneurial spirit in Silicon Valley, highlighting the desire to help and the basic human connection that drives individuals to pursue their dreams, despite criticism.
43:04 - 50:13 (07:09)
Summary
The speaker reflects on the entrepreneurial spirit in Silicon Valley, highlighting the desire to help and the basic human connection that drives individuals to pursue their dreams, despite criticism.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The importance of empathy in business is discussed, highlighting the hardships faced by those in lower-income countries and the need to provide support for employees dealing with government agencies.
50:13 - 58:19 (08:05)
Summary
The importance of empathy in business is discussed, highlighting the hardships faced by those in lower-income countries and the need to provide support for employees dealing with government agencies.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The speaker shares a humorous anecdote about trying to obtain a truck and ladder for an electrical job.
58:19 - 1:01:52 (03:32)
Summary
The speaker shares a humorous anecdote about trying to obtain a truck and ladder for an electrical job. He ultimately emphasizes the necessity for proper equipment in the field of electrical work.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
Corruption can have long-lasting consequences beyond its immediate financial effect, such as creating unequal opportunities and lack of access to essential services.
1:01:52 - 1:09:20 (07:28)
Summary
Corruption can have long-lasting consequences beyond its immediate financial effect, such as creating unequal opportunities and lack of access to essential services. In this podcast episode, the speaker shares how corruption can impact businesses and employees, using examples such as employee benefits in Google and Senegal's protected workers.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The speaker discusses unfair business practices in a global market, citing an example of how some rules back home can increase the cost of a product by $1.60, making it hard for small businesses to compete.
1:09:20 - 1:14:13 (04:52)
Summary
The speaker discusses unfair business practices in a global market, citing an example of how some rules back home can increase the cost of a product by $1.60, making it hard for small businesses to compete. The speaker also mentions how lawmakers may be aware of these practices but are unable to prevent them due to lack of understanding or other reasons.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The speaker discusses two ways of navigating legal barriers in entrepreneurship: either fighting the laws and creating the business anyway or building the business community and exerting strong pressure to change the laws.
1:14:13 - 1:18:30 (04:17)
Summary
The speaker discusses two ways of navigating legal barriers in entrepreneurship: either fighting the laws and creating the business anyway or building the business community and exerting strong pressure to change the laws.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
Economic freedom is the key to creating a favorable environment for businesses to thrive.
1:18:30 - 1:23:47 (05:17)
Summary
Economic freedom is the key to creating a favorable environment for businesses to thrive. The rankings of economic freedom indexes such as the Dream Business Index and the Fraser Economic Freedom Index serve as a useful measure of economic freedom across the world.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The reason behind Africa being the poorest continent in the world despite its enormous wealth is not yet clear.
1:23:47 - 1:32:59 (09:11)
Summary
The reason behind Africa being the poorest continent in the world despite its enormous wealth is not yet clear. The speaker argues that the region lacks economic freedom and is over-regulated, leading to poverty and underdevelopment.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The lesson of this part of human history, until the robots take over, is that economic freedom, free markets, and protecting those with as few roadblocks as possible is the key to allowing anyone from your country to make their dreams a reality, without violent revolutions and suppression of human rights.
1:32:59 - 1:38:15 (05:16)
Summary
The lesson of this part of human history, until the robots take over, is that economic freedom, free markets, and protecting those with as few roadblocks as possible is the key to allowing anyone from your country to make their dreams a reality, without violent revolutions and suppression of human rights.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The speaker encourages entrepreneurs to learn factual information and stay updated with modern practices to empower and propel themselves towards success.
1:38:15 - 1:42:41 (04:26)
Summary
The speaker encourages entrepreneurs to learn factual information and stay updated with modern practices to empower and propel themselves towards success. They criticize the idea of “building back new” and suggest looking for global best practices to move forward.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The belief that people are dumb is at the core of a lot of things that prevent the flourishing of society.
1:42:41 - 1:49:35 (06:53)
Summary
The belief that people are dumb is at the core of a lot of things that prevent the flourishing of society. Respect for elders and their opinion is very important and limits the freedom to express yourself can lead to authoritarianism.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
A traveler shares his experience of staying in Paris and realizing that the focus on art and fineness can sometimes disconnect people from basic humanity, with a language barrier adding to the disconnect.
1:49:35 - 1:52:20 (02:44)
Summary
A traveler shares his experience of staying in Paris and realizing that the focus on art and fineness can sometimes disconnect people from basic humanity, with a language barrier adding to the disconnect.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The French education system tends to breed a more bureaucratic mindset, while Americans tend to have an entrepreneurial and philanthropic spirit.
1:52:20 - 1:57:52 (05:32)
Summary
The French education system tends to breed a more bureaucratic mindset, while Americans tend to have an entrepreneurial and philanthropic spirit. Additionally, the French view of buying a house and settling down differs from the American approach.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The guest expresses his ability to feel at home in any part of the world, regardless of cultural differences, due to his experiences with accepting and supportive communities.
1:57:52 - 2:05:14 (07:22)
Summary
The guest expresses his ability to feel at home in any part of the world, regardless of cultural differences, due to his experiences with accepting and supportive communities.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
Abdullah O. Alao discusses African emancipation and liberation and how practicing courage can help in today’s society.
2:05:14 - 2:12:36 (07:22)
Summary
Abdullah O. Alao discusses African emancipation and liberation and how practicing courage can help in today’s society.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The tension between capitalism and socialism can be traced back to history when black African-American intellectuals were introduced to the concept of socialism and Marxism.
2:12:36 - 2:18:55 (06:18)
Summary
The tension between capitalism and socialism can be traced back to history when black African-American intellectuals were introduced to the concept of socialism and Marxism. The battle of ideology between freedom and economic rights continues to create tension in society.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The speaker highlights the importance of promoting free markets and prosperity in Africa for the Black Lives Matter movement to be effective and impactful for black people worldwide.
2:18:55 - 2:28:17 (09:21)
Summary
The speaker highlights the importance of promoting free markets and prosperity in Africa for the Black Lives Matter movement to be effective and impactful for black people worldwide.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
This episode discusses the understanding of discrimination beyond big lines of black and white and what science has to say about bias starting from childhood.
2:28:17 - 2:32:44 (04:27)
Summary
This episode discusses the understanding of discrimination beyond big lines of black and white and what science has to say about bias starting from childhood. The speaker shares experiences during the days of Philando Castile, and Eric Garner and highlights that discrimination goes beyond clickbait lines.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The brain is wired for efficiency, and it automates tasks to save energy.
2:32:44 - 2:38:53 (06:08)
Summary
The brain is wired for efficiency, and it automates tasks to save energy. As you learn and grow, you develop the ability to make sense of the world around you.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The speaker shares their experience of addressing unconscious bias, including someone who refused to date Asian men because of stereotypes, and the importance of cultural immersion to broaden perspectives.
2:38:53 - 2:44:34 (05:41)
Summary
The speaker shares their experience of addressing unconscious bias, including someone who refused to date Asian men because of stereotypes, and the importance of cultural immersion to broaden perspectives.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The podcast discusses examples of individuals who have been lifted out of difficult situations, including Miss Alice Johnson who was pardoned by President Trump, individuals who have had association with gangs, and the work of urban specialists like Van Jones and Kim Kardashian.
2:44:34 - 2:49:41 (05:07)
Summary
The podcast discusses examples of individuals who have been lifted out of difficult situations, including Miss Alice Johnson who was pardoned by President Trump, individuals who have had association with gangs, and the work of urban specialists like Van Jones and Kim Kardashian.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The practice of giving away free shoes to those in need can cause harm to local economies, as it takes away the livelihood of local shoe sellers.
2:49:42 - 2:53:54 (04:12)
Summary
The practice of giving away free shoes to those in need can cause harm to local economies, as it takes away the livelihood of local shoe sellers. Additionally, buying anti-racism and DEI resources without addressing systemic issues causes further harm.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The distribution of vaccines is a complex geopolitical strategy that involves negotiations between countries and the balance of power.
2:53:54 - 3:04:36 (10:42)
Summary
The distribution of vaccines is a complex geopolitical strategy that involves negotiations between countries and the balance of power. The decision of whom to collaborate with may create a market that favors certain countries over others.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The legal framework for economic freedom needs to be established to unlock the potential of young people, particularly women, and unleash their ingenuity and industriousness to build the required wealth for the nation.
3:04:36 - 3:10:56 (06:19)
Summary
The legal framework for economic freedom needs to be established to unlock the potential of young people, particularly women, and unleash their ingenuity and industriousness to build the required wealth for the nation. Working on reforms and promoting awareness of the significance of free markets is essential towards achieving this goal.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
Dubai's success with a legal system based on British common law has sparked the idea of creating common law zones within African countries to accelerate business growth and progress for an ever-growing population.
3:10:56 - 3:16:20 (05:24)
Summary
Dubai's success with a legal system based on British common law has sparked the idea of creating common law zones within African countries to accelerate business growth and progress for an ever-growing population.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The speaker describes his observations on the people of Rwanda, comparing their movements to that of ballet and noting their preference for not eating in public.
3:16:20 - 3:20:13 (03:52)
Summary
The speaker describes his observations on the people of Rwanda, comparing their movements to that of ballet and noting their preference for not eating in public.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
Giving millions of people the freedom to do whatever they want can be more powerful than idolizing certain individuals like Steve Jobs or Elon Musk.
3:20:13 - 3:25:54 (05:40)
Summary
Giving millions of people the freedom to do whatever they want can be more powerful than idolizing certain individuals like Steve Jobs or Elon Musk. Being in a dark place in life happens to everyone, including a guest who lost her husband and had to overcome personal and professional obstacles.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The speaker talks about her struggle in finding support for African women entrepreneurs and her fallout with a father figure.
3:25:54 - 3:33:43 (07:49)
Summary
The speaker talks about her struggle in finding support for African women entrepreneurs and her fallout with a father figure.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The podcast discusses the importance of looking towards a direction where innovation and prosperity can coexist, while rejecting Marxist socialist ideals.
3:33:43 - 3:37:01 (03:18)
Summary
The podcast discusses the importance of looking towards a direction where innovation and prosperity can coexist, while rejecting Marxist socialist ideals. It also touches upon the advancements in medical technology, like the pain-relieving capabilities of dental operations.
Episode#311 – Magatte Wade: Africa, Capitalism, Communism, and the Future of Humanity
PodcastLex Fridman Podcast
The interviewer expresses their gratitude for the passion and dedication of the interviewee towards a place that will shape the future of humanity.
3:37:01 - 3:38:22 (01:20)
Summary
The interviewer expresses their gratitude for the passion and dedication of the interviewee towards a place that will shape the future of humanity. They also make a suggestion that the interviewee should work on their unconscious bias.