Mixing diverse combinations of knowledge assets, and not all common knowledge assets, accelerates the process of Innovation. Think of all the music that is yet to be created for lack of musicians to play the different instruments.
Collaborative consumption is here to stay because it represents a higher value economy than forest-to-dump consumerism. The financial deficit is simply the inadequacy of Money to articulate Social Value.
People are trading knowledge assets in social media. This exchange is denominated in social currency. If we mimic the structure of the Financial System with the emerging structure of Social Value Systems, we see a huge opportunity to develop an alternate financial system that can capitalize and securitize knowledge assets in social media.
This video is from an extraordinary Seattle Musician named Aaron English. I have known Aaron for several years and follow all of his work. He is always up to something completely interesting. Aaron can say more in 4 minutes that I can say in 100 blog posts.
We are entering a renewal in the work force. The global imperative is for the United States to become an innovation economy now. This is an entirely different animal than the Industrial revolution; I have long argued that the résumé system is by far the most archaic knowledge management “currency” of trade in use today.
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?
It follows to reason that all of the innovation that could return somewhere between 10% and 1000% goes largely un-capitalized. Now, suppose that an innovation bond were to come along which produces a risk adjusted return of, say only, 15% per year denominated in a fungible currency, investors would seek refuge in the Innovation Bond.
The term “Innovation Clusters” makes for a good soundbite for politicians because it fits on a banner they can stand in front of (thumbs up) and waving the “I’m for Jobs” banner for the next election cycle. It keeps funds flowing to organizations to publish studies that conclude that more studies are needed. Maybe these “summits” ought to be renamed, Cluster Funks because that is all that they actually promote.