Wow what a week. I though that I heard it all until Mitt Romney said “Corporations Are people”. Actually, I admire Mr. Romney but I do struggle with this interpretation for his sake and those who he represents – and possibly an opportunity lost to rise above the noise.
In a way, Mitt provides us with a looking glass into the fundamental differences between the rich and the poor. The rich see themselves as the proxy for the prosperity of the poor. Meanwhile, the poor see themselves as the proxy for the prosperity of the rich. Neither side admits that they need each other, but I won’t pretend that I can solve this argument any time soon. However, allow me to suggest that the winner of the debate will be the one that can evolve above the paradox.
The following video discusses how many components of a corporation – and government – are being duplicated in Social Media. The beauty of is that this great social innovation is available to anyone including the rich, the poor, the corporations, and the government. Oh, but wait – if the UK shuts down social media, they will effectively shut themselves out of the paradox, not evolve from it…Ooops. Be careful, Mitt.
So here is a video I made last year which, in a way, validates much of what we see playing out before us in politics, business, and social media.
When I use the term “Innovation Bank”, people conjure up the image of a cheery place where anticipation reigns as starry eyed depositors arrange their intellectual property in neat cubby boxes, Patents are peddled like newspapers, and flush pocket companies troll the halls looking for a cure for their bottom line reflux disease.
This is not exactly what we have in mind, nor is it too far off either. An innovation Bank is simply a knowledge inventory that contains knowledge assets that exists in the format of a financial instrument between people’s ears and can be deployed for the purposes of increasing productivity. Oh, by the way, knowledge makes more of itself every time it is deployed …. Interesting?
The Assumptions
This is not much different than a financial bank. In fact, in the financial bank, everyone assumes the borrower has the knowledge to execute the business plan and the bank lends the money. Oh, by the way, the money makes more of itself (interest rate) every time it is deployed.
With the innovation bank, everyone assumes the entrepreneur has the money to execute the plan, and the seek to borrow the knowledge. Other than that, they can be considered identical. The key is in the scope, depth, and format in which the knowledge assets live in a community as well as the ability to track and preserve the creation of new knowledge in a community.
A Virtuous Circle
Together with the financial banking, these two system engage in the dance of the virtuous circle of innovation enterprise. Apart, they collapse into the swirling cesspool of eternal debt and infinite interest (pun intended).
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?
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.
Nothing “Economic” can happen is Social Media until real people get together to build things. Sure, Marketers are trying their hardest to penetrate the last mile, but communities are trying to defend it too.
In an interview with the Wall Street Journal, Google CEO Eric Schmidt warns of the future consequences of social media and networks, and the vast amount of personal data that users put out there on the Web.
The Value Game introduces a new class of business plans that will define Social Capitalism as a distinction from Market Capitalism rather than simply an extension of Market Capitalism
The knowledge inventory is the most important part of Social Capitalism. It is also the only piece that will require everyone to think substantially differently about how we are organized in communities. Once we can get over that hurdle – it’s smooth sailing into the next economic paradigm.
Take note that debt can reach infinity but austerity measures can only reach zero … you can do the math on a postage stamp. If there ever was a need for a secret weapon, it is now.
Naturally, we seek to anticipate the future usage of the term Troll in a context of Social Capitalism. We can say that someone who was in a position to constrain Social Capitalism has the potential to engage in troll behavior.
This video describes a set of predictions for 2020 based on an entirely new form of capitalism whose velocity and voracity will take the world completely by surprise. Nothing is sacred and nobody is immune, not Facebook, not Google, not Wall Street, not even Governance itself….
Technology clusters serve what we call the tangential innovation market – or diversity innovation dynamics. Don’t worry if you have not heard of these things, I’m making this up as I go along.
Most “turking” does not pay enough to cover the cost of the education required to complete the task. It costs a society countless thousands of dollars to teach and nurture a child to read and make good decision.
The forecasting methods that we are developing at the Ingenesist Project have become sufficiently vetted and organized that I have decided to formalize them for review by others. The “WIKiD Tools” method is fairly simple to describe and demonstrate, but be assured, it is a powerful method for predicting futures outcomes.
Many arguments rage because of poor definitions to terms. If people cannot agree on a definition, they will not agree on much else. A definition should be definitive – here I will tackle 5 of the most elusive definitions that are at the center of much, if not all, global controversy: Data, Information, knowledge, innovation, wisdom
Activist, Science fiction writer, and blogger Cory Doctorow spoke at in Seattle to a full house at the Sunset Tavern in Ballard. He performed a reading from his latest book, “For The Win”. Cory has an interesting sense of abstraction. He’ll spot a trend – or collection of trends – and extrapolates them into the future dutifully revealing all the complexities of the human condition.
I’ll be speaking at the following event on June 4th. If you are in the area or blogging issues in this genre of ideas, let me know and drop by. Look up the other speakers and you’ll find an extraordinary group of visionaries preparing to make this PM Cluster Summit a truly enlightening event.
Money is a convenient way to store and exchange value. Unless the world enters into a free trade agreement with Martians, Earth is the physical boundary of all existing value.
In Tara’s book, Whuffie is roughly synonymous with ‘new’ social capital – a hugely complex financial instrument that is currently emerging before the eyes of all practitioners of social media. In 2010, almost everyone still struggles to articulate social capital with a 1999 vocabulary of new conversations living in old financial markets
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.
There are two sides to the Social Value Equation – the creation of social value and the destruction of social value. There are countless examples where innovation destroys the value of prior technologies. There are also many instances where “progress”, perhaps in the form of a freeway or public structure, divides a community where strong social bonds once acted.
Future of Banking
