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Ingenesist

An IPO For Humanity

by Dan Robles

The Ingenesist Project tries to string this all together with just enough specificity so that an alternate financial system will jump start itself and become both visible and available to everyone.

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Very few discussions about the future of money approach the subject with as much experience, introspection, and clarity as this historic panel has. This is not another doom-gloom room – but a truly optimistic model of a future financial system built on a platform of social media. These panelists represent some of the top thought leaders, visionaries, and practitioners in the area of “Local Social” – where nothing happens until the rubber meets the road.

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I am astonished that people willingly and freely give up huge volumes of information about themselves when they really don’t have to. In earlier times, marketers and advertisers would pay a great deal of money for far less information that people give them for free. People do not understand the value that is stored between their ears or how easy it would be to set up an alternate economy that trades in social currencies.

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If Facebook is not careful, a huge opportunity awaits a competitor to disrupt the Facebook parade with high value, high segmentation, and high anonymity – and still monetize.

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Today we see Social Media duplicating many of the functions of earlier society by storing community wisdom, applying social vetting, and deploying social currencies.

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Making human knowledge and intentions tangible in a market place opens up the possibility of a whole new class of business plans. We call this Social Power by the Hour.

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Most studies on Innovation study the to 99th percentile human in the hope of discovering the “secret sauce” of wealth creation. One such study identifies 5 discovery skills and conclude that the top innovators are also in the top percentile for all these skills. What a surprise that the top university would conclude that they – and people like them – were the secret sauce of all wealth creation.

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If we consider the structure of conversations and compare that to both the structure of social networks AND the structure of our financial system, we see a huge opportunity to develop an alternate financial system that can capitalize and securitize knowledge assets in social media.

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Where the vetting mechanism fails, the system fails. This has happened in countless instances from the current financial crisis to nearly every product, market, environmental calamity, or political failure in recorded history – the referees who were supposed to keep their eye on the ball, did not. Likewise, where a vetting mechanism is effective, the system is efficient.

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Modern Globalization is a system – it must be analyzed like a system. Data, Information, knowledge, and Innovation are profoundly related in a system. If you take away one of the components, the others become worthless.

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There is very little about a corporation that cannot be duplicated in social media. This calls into question the nature of social media vs. the nature of corporations. Here we uncover a third pillar to the US economic recovery; Social Capitalism.

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The simple truth is that humans have not evolved to the point where they will organize themselves as knowledge assets in a financial system – they still need to use a proxy for their productivity controlled by a master, a corporation, an idealism. It’s called money, politics, and fear.

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There is no knowledge inventory of our communities. The is a STUNNING omission for a country whose only hope at climbing out of economic hardship is sequestered within the innovative minds of its people.

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What if knowledge assets were tangible? What if you owned your knowledge like a company owns a structure or specialized machinery? What if it could be quantified and qualified so that it resembles all other tangible assets? Easy answer…entrepreneurs will trade it, like money.

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This is starting to sound more like the neighborhood drug dealer than any sustainable economic paradigm: Go where your customers congregate and gain their trust by sharing your stuff. Soon, you can start to influence their behavior. Once hooked, they will do your deed for free.

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Leading into 2010, The Ingenesist Project will release a series of videos that specify the construct of the Next Economic Paradigm. The following video discusses the flaw in modern globalization market economics that started with the failure of an obscure sub section of NAFTA – the free trade of services.

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Suppose someone puts together a Twitter campaign for everyone the withdraw their money from a single financial institution who just handed out big bonuses? At best, those bonuses will have to be recalled to keep the doors open. At worst…

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Social Currency 101

by Dan Robles

The reasons for organizing social currency are becoming more obvious everyday – as institutional and corporate currencies leave gaps in our communities, people will need to fill these voids with social currencies. Our job as Social Media Practitioners (because nobody else is going to do it) is to develop, construct, and deploy social institutions that support a real time, close proximity markets to exist trading social currency

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Suppose someone puts together a Twitter/Facebook campaign for everyone the withdraw their money from a single financial institution who just handed out big bonuses? At best, those bonuses will have to be recalled to keep the doors open. At worst, people will find an alternate currency to store the “value” that is destroyed by a bank run.

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Banks In The Future

by Dan Robles

You are hearing it here; these innovations are the most significant disruption that Wall Street can’t possibly imagine. Money is a social agreement and these are the banks of the future. Although many come from the gaming industry, many games are modeled after the real world, therefore, transition back to the real world is not as difficult as one may think.

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Counting Eyeballs

by Dan Robles

The Advertising Industry has some serious problems. Ad agencies are having a difficult time understanding the modern advertising space with the limited, if not worthless, paradigm carried over from the days of radio; the CPM.

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Well, not explicitly, but given the firestorm over the Nobel Peace Prize, the Economics Prize ought not go unnoticed.   The Irony is that that just because we don’t know how to model some economic phenomena does not mean that the impact should be ignored.  Whether you agree with the Peace Prize decision or not, clearly [...]

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Many people know that the events that inspired what now has become The Ingenesist Project originated with my personal observation and experience of the Mexican Peso Crisis as a visiting professor. Very few people in America realize the implications of a real financial crisis and associated currency collapse. Unfortunately, many people in the World have – perhaps we should listen to their ideas.

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Gnomedex 9.0 Seattle

by Dan Robles

Social media reflects social priorities, not Wall Street Priorities – in fact, the table has turned. For example: Twitter will be charging Corporations to view social media – after corporations failed to get people to pay them to view social media.

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Facebook is testing a virtual currency, because it’s cool and they can do it. They are not alone, the gaming industry has been at it for a long time for people who want to be more “productive” in the game space.

There is no mention, however, whether a Facebook currency could be used as a medium of exchange in the event of hyperinflation and the crash of the US dollar. I can find nobody, writing anywhere today, that is willing to cross this proverbial line in the editorial sandbox.

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The Ingenesist Project and related blogs such as Relationship Economy and now Conversational Currency have long predicted that the resolution of social media space will vastly increase from “Monet” to “Blue Ray”. The segmentation and convergence of social media space will happen on two fronts: Knowledge Inventory and Proximity.

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The very structure of organizations is changing. Trying to control the temperature of the room when the windows have been blown out will only destroy existing controls faster. A completely new economic structure is emerging complete with new factors of production, incentives, institutions, accounting, and currency.

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Humility R Us

by Dan Robles

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.

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Countless blog articles and news reports are complain about information overload in our society. 1.6 Trillion dollars worth of human productivity are lost every year. The Ingenesist Project changes everything. So what will we do with all the time saved? we’ll spend it with friends and family telling them about the great products that empower us.

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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.

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