Your knowledge and experience also helps others predict what preferences you may have and what decisions you may make. Corporations, advertisers, banks, insurance companies, and politicians all want to know this and they will go to extreme and expensive measures to get it – why not just sell it to them?
China and India are producing millions of engineers as part of their global economic dominance strategy. Engineers increase productivity and productivity creates wealth. Why? Because money is only a means for storage and exchange of value and engineers create the value.
Corporations may be getting social “online” but how are they doing offline? Anti-social behavior on the ground is the genesis of our not-so-coveted Social Caterpillar Award.
Most literature on the subject of Innovation cites diversity as an important component of the innovation enterprise. Unfortunately diversity rides a political narrative rather than practical applications. Polarization is the death of diversity and the political narrative that plagues our country also plagues our ability to innovate.
The phenomenon to consider is that people with mutual anonymity are able to share more freely. Ironically, anonymity improves the quality of a conversation by eliminating the irrelevant data that often constrains conversation. Conversely, efforts to constrain anonymity destroys freedom of the web.
Likewise, corporations arising from the industrial revolution communicate internal structure and processes through the use of a well protected internal taxonomy. This serves as both a means of storing knowledge across generations of workers, and as a means of encrypting the knowledge from those who would pillage the enterprise.
To understand why humility works in social media, we need to understand what humility is. If “Nice guys finish last,” is the mantra of the old world, then “The last will be first,” is the motto of the new.
Suppose that mentorship could be monetized like financial instruments. Within the structure of an innovation economy specified by The Ingenesist Project, the mentor would take an equity position in the protégé, not unlike taking a stock in a corporation.
Heisenberg’s uncertainty principle, as an analogy, suggests that the more we know about competition, the less we may know about cooperation. The more we know about cooperation, the less we know about competition.
We have specified a structure for a new economic paradigm by simply integrating the the knowledge economy into the same structure as the financial system. The result is a completely new way for entrepreneurs to create wealth.
There is no shortage of entrepreneurs in this world. 6 Billion of them wander the Earth looking for assets that exists at a low state of productivity waiting to be elevated to a higher state of productivity.
In this module, we will discuss the institutions in social media that could keep an Innovation Economy, free, fair, and equitable.
Most companies have an inventory of every nut, bolt, rivet, or panel that they need to build something tangible. In innovation economy, we will need to have an inventory to assemble knowledge assets so that we can build something tangible
Everywhere people are trading information and ideas with each other at an incredible rate. All of this information adds up to something because obviously things get built and stuff rolls off the assembly lines. People act on information obtained from each other to produce things.
Social Media is a demanding master with the uncanny ability to determine the absence or presence of checks and balances. As a self correcting market, what you do not say can have a greater impact than what you do say.
Of Profit and Peril:
There are great perils in getting social media wrong and great profit [...]
Social media needs a definite product that the whole industry can rally around – that product is ‘communication’. Very few problems are created by improved communication. Most problems are solved by better communication. Communication improves information, knowledge and innovation. Solved problems are defined as innovations. It’s a simple matter of how we organize ourselves; like a creative industry or a control industry.
The secret to finding a business case for social media can be found in “The Last Mile”. It would seem that innovators and entrepreneurs would be strafing each other to fill this vastly under served market and lucrative market segment.
We can measure the time in minutes, we can measure distance in miles, and we can measure mass in grams – so how do we measure Innovation? Am I missing something or is this possibly the most stunning omission in the history of civilization? Who is keeping score? Where’s the referee? This is serious business, [...]
The opportunity for America reminds me of the elephant that is convinced since birth that the slender rope tying him to the fence post is stronger than he. When the elephant grows up, he still believes the rope is stronger even though the elephant now has gained the strength to pull the whole building down. [...]
It is very interesting to watch Social Media follow familiar trajectories as earlier paradigms in finance. I see many social media platforms struggling to make human knowledge tangible in their respective markets. The challenge is so simple, yet so complex. Let the litmus test for knowledge tangibility be as follows; “Can you buy groceries with [...]