Jonathan is a founder of Variant Perception, a macroeconomic research group that caters to asset managers.  Occasionally, he writes books. He is co- author of The Myth of Capitalism: Monopolies and the Death of CompetitionEndgame: The End of the Debt Supercycle, and Code Red, a book on unconventional monetary policy.

Earlier in his career, Jonathan worked as an equity analyst at SAC Capital and as a Vice President in proprietary trading at Bank of America. With his friend and partner Turi Munthe, they founded Demotix, a citizen-journalism website and photo agency that received photographs from freelance journalists and amateurs and marketed them to the mainstream media. They sold Demotix in 2012 to Corbis, a company then-owned by Bill Gates.

As a kid, he was a bit of a nerd.  Some things don’t change very much.  He earned a BA with Highest Honors in History and Honors in Economics from the University of North Carolina at Chapel Hill, and a M.Litt. in Modern History from Oxford University.  Jonathan is a Rhodes Scholar and is Chairman of the Rhodes Scholars in Britain.

His parents founded Betel International.  He loves jazz, photography, learning languages, reading piles of books and drinking far too much coffee.

Find him at: or jonathan [at] mythofcapitalism [dot] com

Denise Hearn

Denise Hearn is co-chair of First Principles — a group of emerging technology leaders who learn together about how to deploy impact capital. The first Forum was co-hosted by Bloomberg Beta and Schmidt Futures with programming input from the Stanford Center on Philanthropy and Civil Society.

She is co-author of The Myth of Capitalism: Monopolies and the Death of Competition – named one of the Financial Times’ Best Books of 2018 and endorsed by two Nobel Prize winners. Denise has presented to over 50,000 people throughout her career at venues including: the Oxford Union, Bloomberg, and the Hong Kong Foreign Correspondents Club. 


Previously, Denise was Head of Business Development at Variant Perception - a global macroeconomic research and investment strategy firm that caters to hedge funds and family offices. She has also built new impact investment models in Canada, helped create the world’s first Trustmark for Sharing Economy companies in the UK, and was chosen to participate in the Alt/Now: Economic Inequality residency program at the Banff Centre. 


Denise has an MBA from the Oxford Saïd Business School, where she co-chaired the Social Impact Oxford Business Network, and a BA in International Studies from Baylor University.  She resides in Seattle with her husband and enjoys hiking, singing, and breaking conversation norms at parties.

Find her at: and denise [at] mythofcapitalism [dot] com