The Next Economic Paradigm
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by Dan Robles
All of this tells us that Social Media is up against the ropes on the monetization plan. As a result it is starting to consume itself. This may be the first indication that the Dollar is NOT the currency of trade in the social media space, it’s a yet unnamed Social Currency. This definitely tells us that something new must happen soon.
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by Dan Robles
Dorothy the goldfish is imagining Elmo reading his Twitter stream… and what would it say? Who would he follow? And who would follow Elmo?
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by Dan Robles
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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by Dan Robles
The Next Economic Paradigm is arriving and the first entries include Foursquare. Few people understand the significance of this new class of social media applications. Foursquare contains many (but not yet all) of the components of the Innovation Economy that we have been discussing for several years at Ingenesist.com, Conversationalcurreny.com, and Relationship-economics.com.
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by Dan Robles
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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by Dan Robles
The following video describes how the components of the next economic paradigm must act locally, but share globally. For anyone wondering what to do next or where the great opportunities are, think about building out the Last mile of Social Media.
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by Dan Robles
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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by Dan Robles
Should a social currency credit score become imperative to social transactions as the financial credit score is for financial transactions?
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by Dan Robles
USocial is now going after YouTube. These clever guy and gals have figured out a way to bypass the democracy of social media to bring is a new form of merchant class capitalism…SUPER SPAM. For a small fee, you can get your message to the head of the line – in effect pushing the rest backwards. Presumably for a bigger fee, you can get ahead of those who paid a smaller fee, and so forth.
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by Dan Robles
I am always amazed when I get that proverbial chest thumping quasi-barrister “cease and desist” letter, followed by remedial citation of copyright law, and always ending with some pathetic accusation of irreparable damages and criminal violation.
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by Dan Robles
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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by Dan Robles
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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by Dan Robles
What if many companies dropped their advertising spend into a several different buckets of cash representing various lifestyle segments? Now, suppose that the cash was distributed to social media mavens corresponding to their social media reach in the lifestyle segments. The advertisers and the amounts contributed to the buckets are fully disclosed. The Social Media mavens are compensated by their Alexa rankings – again, fully disclosed and objective. The Social Mavens are simply paid to blog their lifestyle experiences with no contract or commitment to any brand, nor retribution for any assessment – just like always.
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by Dan Robles
I have been hearing a great deal about an inevitable collapse of the dollar. Not today or tomorrow, more likely in 5 or 10 years. The failure will probably not be a stupendous crash since politicians would avoid this as a means of self-preservation. Rather, it would simply be a slow and grinding inability to “afford” many important things using cash. Note that this has little or nothing to do with your ability to produce important things.
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by Dan Robles
Does One size fit all?
The 40+ crowd is flooding to Facebook. The 30+ massage their Linkedin profiles. The 20+ crowd is tweeting their hearts out. What are the kids doing? How are they organizing themselves? After all, they are saddled with a 50 Trillion dollar debt liability and a warming planet courtesy of their Tenants. [...]
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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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by Dan Robles
There are 3 characteristics of financial instruments which make them tangible in a market: They live in an inventory, they are exposed to vetting mechanisms, and they are subject to constraints.
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by Dan Robles
My memory of 9/11 was quite personal; I was the customer engineering account manager at Boeing – my customer was United Airlines. I was fortunate to have worked with many UAL Pilots and Flight Attendants and their Unions; UAL lost 16 employees that day – I lost 16 friends.
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by Dan Robles
Social capital, intellectual capital and creative capital are the factors of production for the Innovation Economy; next economic paradigm. Creative Capital remains the least understood, yet most important element of the Next Economic Paradigm. As we continue our march into the regime of social media it is imperative that we understand, support, and develop this critical factor. We cannot “take it for granted” that creativity exists and will always exist. It must be recognized, developed, and integrated into the fold of Social Media.
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by Dan Robles
Here at The Ingenesist Project we have long been looking for a disassociation between main stream media and social media. MySpace may be the social experiment that indicates a deeper and most promising trend.
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by Dan Robles
Flip-floponomics is a term that I just coined with this post which means:
1. A traditional business method flipped on it’s back to reveal a new business method
2. A mirror image of a previously accepted economic paradigm
3. sing. n; flip-floponom; A phenomenon of flip-floponomics.
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by Dan Robles
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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by Dan Robles
Immediately the engine of entrepreneurialism will ignite as people figure out new ways to play the game. With a trillion dollar advertising industry, a trillion dollar Professional Placement industry, and a trillion dollar recreation/leisure/entertainment/family industry on the ropes, you can guarantee that innovation will be absolutely intense. Welcome to the Innovation Economy.
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by Dan Robles
This is how the innovation economy must play out. People must control, regulate, anonymize, and manage their own knowledge inventory. If only they could see their world through the entrepreneur’s eyes – perhaps they need a vicarious search engine more than anyone.
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by Dan Robles
It is only a matter of time until professional contacts will be for sale. The problem is that the ROI (return on investment model) is such a poor valuation tool for social media.
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by Dan Robles
In order to predict where social media will strike next all we need to do is look for the waste economy; areas where world governments, institutions, and corporations are inefficient, wasteful, co opted, or corrupt.
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by Dan Robles
Gross Domestic Product does not take into account many important variables accelerated by Social Media and growing exponentially in economic influence.
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by Dan Robles
The grand total is 2.5 Trillion Dollars worth of conversational currency – 2 times the 2009 national deficit and 5% of America’s entire debt obligation – and growing. Maybe the Dollar is not so overvalued after all. Maybe the dollar deficit is counter balanced by this new invisible currency. Suppose the more inflation that occurs, the more this invisible currency will affect the overall economy.
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by Dan Robles
As we move away from the ROI valuation model for social media and adopt a more dynamic ‘options’ analysis, a different picture emerges. The next economic paradigm will emerge as a function of people exercising their options.
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by Dan Robles
Fortunately, the true visionaries of the next economic paradigm are increasing in numbers and rapidly moving away from the ROI model into something far more valuable simply by asking the serious questions……
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