 Thank you. It's it's a real pleasure and honor to be here and to be back in Brazil Thank you for having me. You know we talk about entrepreneurs as Something like it's nice to have Entrepreneurship is something we add on Brazil needs to have better policies to have entrepreneurs But entrepreneurs are what make life possible entrepreneurs are what make The world in which we live Possible there is no modern world as we know it today without entrepreneurs entrepreneurs are not just an add-on They are the essential Without people like Peter Teo without my colleagues here on the stage We are still back 200 years ago where life expectancy is 39 39 a Lot of you are dead. I certainly am and IFL members, you know that they're capped at 35 you're all approaching death, right? I mean, it's hard to imagine What life was just two three hundred years ago before? entrepreneurs unleashed the industrial revolution on Us until they created the modern world in which we worry now about Can we live to be a hundred and fifty or maybe eternal life? As Peter Teo would like and I hope he's right and I hope his investments work. I certainly am anticipating living to be a hundred and fifty Buying products from Peter Teo's companies We take entrepreneurs for granted But everything in modern life depends on the entrepreneur it is entrepreneurs who discover new opportunities and Create wealth people talked about here about the Brazilian attitude Towards the profit motive towards wealth creation how that attitude is negative If you want to change one thing about Brazil if you want to change one thing in order to secure a positive future for Brazil then that is what you need to change it is the profit motive Channel through the entrepreneur that makes wealth creation possible and therefore lifts countries individuals and countries out of poverty and to prosperity and success without Having the perception that the profit motive is moral that the profit motive is Virtuous it is good to want to make profit it is good to want to make your own life better It is good to want one to make your own life better by Creating products that make everybody's lives better You cannot be a successful entrepreneur without making the world around you a better place to live You cannot become a successful entrepreneur in a free country without Enhancing the lives of all those who you trade with because the essential characteristic of trade Is win-win? So how do we create a world in which entrepreneurs a Planetful which entrepreneurs can be successful which entrepreneurs can rise up and and help raise Everybody that they engage with Raise the standard of living of everybody they trade with Well, I think mr. Ling indicated What do entrepreneurs need? They need to be left alone They need to be left free of corrosion They need to be left free to think Because all entrepreneurial activity ultimately is activity of the mind all entrepreneurial activity is about Discovery it's about Thinking it's about figuring out something new something That's value creating that nobody else is doing and to do that the human mind must be liberated And to liberate the human mind means to liberate Us to liberate the individual to allow us the freedom to think to produce to create to fail But to try again and to keep trying and To benefit when we are successful to keep the profits that we make so it's easy. I Like to tell audiences. It's easy for countries to become rich It's easy to be successful We know what works It's freedom It's letting People be free of corrosion to follow their reason to try out their ideas To succeed to fail and to prosper Now I don't want to comment on Brazilian politics. I know that is the issue of the day You've got a presidential election. I get in trouble enough commenting on American Politics I get into a lot of trouble with that but the Theme of this conference was beyond left and right and I wanted to just propose a different way of thinking about politics for a minute Because I really think we need to get beyond left and right The fundamental question in politics is not whether you're on the left or on your right the fundamental question in politics is Where do you stand on the question of? What is the most important unit in society? The fundamental challenge of our time is collectivism versus individualism the fundamental question of every era is The question politically is the question between collectivism and Individualism and we live in a world today and maybe it's always been this way But certainly today we're both left and right have declared their loyalty to collectivism Left and right if you believe in freedom you do not believe in collectivism Collectivism essentially is the subjugation of the individual to the group Name the group the proletariat in the state the nation Whatever that the race these days whatever the group happens to be That is anti-liberal. It's anti-freedom. It's anti the entrepreneur. It's anti everything we should stand for So we need a new political spectrum not one that goes from left to right But one that goes from collectivism to individualism if we value prosperity If we value freedom if we value entrepreneurship, and we'd like to see entrepreneurs thrive Then let us reject Everything that has to do with collectivism and let us stand and fight together For individualism. Thank you