Think Bigger. Aim Higher. Go Further.

Tag: relationship

Time to Kill Social Media

Kill Social MediaSocial Media is dying and it needs to be put out of its misery ASAP.  I have been in the social media space for many years and while much has happened, much has been lost.

There was a dream we all had in the earlier days that ‘user-generated content’ would evolve to ‘user-generated productivity’ and social priorities would change. The funny thing about economics is that nothing economic can happen until two or more people physically get together in time and space and make something valuable for each other.

I have seen this over and over in my own businesses. The Ingenesist Project (TIP) has global reach, high the engagement of important people, and a fair amount of notoriety – but after nearly 10 years, 500 blog posts, 60 videos and dozens of conference appearances, TIP has not generated a single penny of revenue.  But I’ve met hundreds of wonderful people many who have become close friends.

On the other hand, Coengineers is only a few years on and gets twice as many website views, we’ve toppled shady contractors, and publish an extensive catalog of engineering means and methods, and saved many shared asset communities from financial peril. But it is not until I physically walk into society and ask people face to face and ask “How can we help you?” that Coengineers generates revenue…. and, then we do generate revenue.  And I’ve met hundreds of people many of whom have become close friends.

Linkedin is worthless. Facebook is criminal. Google is downright creepy.

Again, nothing economic happens until two or more people get together in physical space and time to make something useful for each other. Yes, I know that software can be produced oceans apart, but what is that software about? It is always about something that happens in the physical space. It MUST eventually touch the ground somewhere in order to have an economic outcome to convert back downstream.  Big Data wants those relationships, they want them badly, they think that they should own them.  That is where the value is and Big Data wants to scale it.

ROI Rage

Nobody has ever been able to produce a reliable ROI on social media. It’s easy to get people to talk about something, but it is difficult to get people to buy something. Enter Big Data. According to Josh Sinell, VP at Merkle, “It’s [now] about determining what data we need to make something measurable and valuable happen, and then using that data to craft a strong offer, and delivering that offer when and where that customer is most ready to receive and act on it”.

The implications of this statement are horrific (“Shock and Awe” comes to mind). But we can also look at it as a business opportunity – marketers are willing to pay dearly for clean data from anyone who can harness it. So what if we the people could harness our own data and place a big yellow tollbooth on the Big Data Superhighway?

Turning out the lights 

Curiosumé creates a public key inventory of all the things that people need. Then you create your decentralized private key representing your relationships, which you control. By looking at either key, some global data may be attainable; mostly the the stuff that serves society in general. However, your personal data is encrypted until you – and only you – combine your private key with the public key, then the secrets within are revealed.   This would effectively shut the lights out on Big Data. If they want to see your data, they will need to pay you directly for it.

The famous prophet Mitt Romney once proclaimed, “Corporations are people, my friend” But little do many of us realize that people are corporations too. So go ahead, kill Social Media.  Society may simply reorganize into something else, the sooner the better in my opinion.

 

 

How To Use Data Correctly

There is a raging debate about data usage, privacy violation, and even epic technology data hacks.  The reason is simple – data has value.  Ultimately, data are convertible to value – in some form or another, including money.  That means that data are a convertible currency.  This is not necessarily bad, however, there is a right way and a wrong way to convert data into value.

The wrong way is to steal it from it’s rightful owners

You and I, by our motions, movements, communications and the pursuit of freedom and happiness create a huge amount of data.  This belongs to each individual.  When two or more   people interact with each other – the data they create belongs to them, and nobody else.  This is a very powerful relationship that others seek to exploit.  Equally culpable are those who don’t protect their data and the data they share with people around them.

The right way to use data is to play a game

If you observe any game that people play – from children’s games to sports, and even gambling – they all have one thing in common.  Each player has the same information as all the other players.  The game is largely the ability to influence the information with data. Kids know the probability that a they will be tagged and influence their strategy accordingly – but they all play on the same field. In a basketball game, gravity behaves exactly the same for every player on the team. Poker players know the probability that their opponent will draw a flush – there are only 52 cards.   Stealing Data is like slanting the playing field, stealing cards from the deck, or changing the influence of gravity.

Fair Market Value is a Value Game

The underlying assumption of market capitalism is that everyone has the same information.  Two people holding the same Carfax report can have a rational and fair negotiation about the value of that used car.  As such, the used car market is efficient.  Package labeling, truth in advertising laws, and pharmaceutical disclaimers are an attempt to keep a market efficient so that the market can arrive at a “Fair Market Value”.

The Value Game

The Value Game being tested now at Social Flights is a real life game where real people fly to real places to do real things on real nice airplanes.  There are no badges, tokens, little pink cows, wiggly worms, mayorships, or leader boards.  The Value Game is a real economic game built on real data that real players create, own, and share only with other real players.

How to use data correctly

The Value Game will process a great deal of information to make Social Flights operate efficiently.  Data must be normalized to calculate the probability that a flight will fill so that everyone can make a rational decision about price.  Normalized data can be used to create a seat cancellation insurance policy to reduce price volatility.  Normalized data can help travelers buy an option on game 7 of the World Series, before game 5 has ended. Normalized data can be applied so the player knows exactly how much of a discount to require from a vendor for accepting a coupon. Etc.

The Value Game does not need to know your name, address, phone number, or credit score to compile useful information.  The Value Game does not even need to know such information about your friends, family, or professional relationships.  Nobody needs to know your private information –  unless they intend to use your data incorrectly.  After all, thieves need to know who to restrict your data from – you.

9/11 and the Convergence Economy

Today, I have been reading a lot of posts related to 9/11 and the terrible events of that day.  The conversation lives.  It is propagated in every direction and expressed in so many different ways once unimaginable from editorialized news.

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.

I remember the anxiety in the aircraft business as the unspeakable was spoken, the impossible became possible, and the unreal became real.   My own identity was defined by commercial air travel and the safety and comfort of people and families.  The relationship between Boeing and UAL has always been profound; but the strain caused inside the industry was foreboding.

The fact that data could shift so rapidly called everything into question.   Relationships diverged, people no longer knew how to process the information that was available.  This gargantuan ‘outlier’ stained every single probability chart in existence – like a crater in a barren landscape.  The only clarity could be found in shorter time segments, before 9/11, after 9/11… but not 9/11.

“Google News” was one of the first information aggregation devices and was developed in response to one news junky’s need to know, as soon as possible, what is happening in the world of such micro-timing. As the subsequent political and economic swings overshot every rational stabilizing mechanism such as ‘checks and balances’, or ‘market arbitrage’ forces, the rest of us sought quicker and better ways to stay in touch with the events of the world.  This meant, quicker ways to stay in touch with each other.

Today, as 9 years of  “new time”  has been added to the risk equations, we can see the effects of radical cultural shifts; social priorities are gaining momentum over Wall Street priorities. While governments still wrestle with the old world order, a new one is forming in it’s place.  This new world has the power to perform many of the functions of corporations and government.  Can twitter catch terrorists?  Can Facebook entries trigger community awareness?  Can instant messaging deliver instant response?  How many lives are saved by Social Media?  I am not certain, but it is an important question to ask that age old question: Will good triumph over evil? or in economic terms; Is humanity self-correcting?

The convergence continues.  The next paradigm of economic development will continue on the micro-time scale as FB communities hit neighborhoods, Linkedin communities hit local communities of practice, and Twitter news armies grow.  Cooperation Capitalism will replace competitive Capitalism and social vetting will replace institutional surveillance.  Finally, a productivity backed currency will replace debt backed currency. Bring it on.

Future of Money and Technology Summit

I was invited to present at the Future of Money and Technology Summit in San Francisco on Monday April 26. Representing The Ingenesist Project, I’ll be seated on a panel with two very important futurists; Chris Heuer and Micki Krimmel discussing non-quantifiable exchanges. The ever esteemed and respectable Ms. Tara Hunt will be moderating the session.

From the FMTS website:

The Future of Money & Technology Summit will bring together the best and brightest thinkers around money, including visionaries, entrepreneurial business people, developers, press, investors, authors, solution providers, service providers, and organizations who work with them at the convergence of cash and commerce. We meet to discuss the evolving money ecosystem in a proactive, conducive to dealmaking environment.

What I find especially interesting is the incredible collection of technologies for the storage of value and the amazing group of entrepreneurs corresponding to the exchange of value in future markets. The definition of currency is something that is used as a medium for the storage and exchange of valuable. As such, it would be quite the understatement that the FMTS will be a valuable experience.

A great deal of thought, planning, and money has gone into these ventures and now they are together in one room. This can only be attributed to the increasing inability of the current financial system to function as an equitable means to store and exchange value that drives entrepreneurs to new conclusions.

When I witnessed the Mexican Devaluation, the social reaction was to empty out the local WalMart. Those “goods” such as clothing, appliances, and furnishings became an intermediate currency that stored the prior day’s peso value for exchange with tomorrow’s market. The same is true for most financial crises with significant devaluation events in recent history.

The clear and present difference is Social Media.

We now see people busy at work to replace the old currency with improved systems and tools for the storage and exchange of value before the actual calamity arrives. In effect, the new systems are hedging the old one.

It will take many years for the implications and importance of events such as the Future of Money and Technology Summit to make it into the case studies of the major B-school curricula. Ironically, that does not mean that real history is not being made – or shall I say, old history is not being re-made.

So please consider joining us at the conference (details). If you are attending, please, please, please, find me and let’s talk about everything. As always, thank you dear reader because ultimately you are the only reason that people want to talk to me 🙂

What is the Secret Sauce of Innovation?

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.

But what about the rest of the world? What about the individuals and teams of people who actually carry out the plans of those great people? Are they relegated to the footnotes or is there a way for two or more people to simulate the attributes of a 99th percentile person?

This video argues that a 6th discovery skill is the ability to recognize one’s weaknesses AND the strengths of another person. This takes humility and an knowledge inventory of one’s community. Given the ubiquitousness of the persistent economic crisis, ostensibly managed by those paragons of intellect, the masters of the 5 discovery skills – we may need a new way of building so-called “consensus” about what innovation is and who the innovators are.

(I did fail to point out in this discussion that the ability to network with similar people is a distinctly different than the ability to network with dissimilar people. As such, the 5th discovery skill and the 6th are distinct)

Social Currency And The Innovation Bank

'Innovation and Growth, Chasing a New Frontier' book launch(2)The real estate market is trashed, money markets are unstable, commodities are in the tank, the banking system is corrupted to the core, inflation is looming around every corner, and the politicians are engorging themselves in a game of Cerebral Gridlock.

Literally, there is no safe place to put your money. Instead, people are investing their productivity in social media – social media is simply a storage device for knowledge assets. Soon it will become a stock exchange for knowledge assets. Investors should not take this lightly – the best place to store your money is in the real productivity of real people.

People are trading knowledge assets in social media. This exchange is denominated by a conversational currency. 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.

Ingenesist.com

Music by Phil Felicia

Where is The Knowledge Inventory?

Knowledge marketsThere 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.

If done correctly, knowledge can behave as an asset of trade. This must first start with a comprehensive knowledge inventory. Like the human genome project, the knowledge inventory project must be a sustained effort.

Link to specification document

Open Letter to all Deep Web Researchers

iceberg80This Open Letter is directed to all Deep Web researchers, authors, developers, practitioners and people who have a great interest in what lies beyond the popularity contests playing out on the ‘surface web’.

I submit this letter in appreciation for the work that you do I also want to present an important application to your research for which you may not yet be fully aware.

As they say, beauty is only skin deep and the hard work of organizing the Deep Web offers an astonishing opportunity for the next economic paradigm. Very few people are aware of this.

Who are we?

I am the director of The Ingenesist Project, an obscure Think Tank in the Seattle area modestly funded by visionaries. Our job is to specify an alternate financial system that we loosely describe as an innovation economy built on a platform of social media.

Consequently, we also specify a new currency backed by innovation instead of debt. Innovation currency is very similar to debt currency since they both ‘represent’ future productivity. As such, these two currencies would be readily “convertible” in exchange – something that we all may need in the not-too-distant future.

Where do you fit in?

Essential to this concept is the relationship between data, information, knowledge, and innovation which we express as a differential equation. Here is a quick explanation – please bear with me:

We can predict the value of innovation by observing rates of change of knowledge. We can predict the value of knowledge by observing rates of change of information. But the most critical element is the ability to predict the value of information by observing rates of change of data. The most critical element in the next economic paradigm is the human interaction with data.

With that missing piece, a new financial system can then capitalize and securitize these “predicted future values” much like Wall Street does with social debt. Deep Web Researchers literally hold the key to ending the oppression of debt economics worldwide. No kidding.

What’s in it for you?

This is where your work gets us really excited: Google induced economic incentives that drove millions of entrepreneurs into the work of creating new information – and yet direct widespread monetization remains elusive. In contrast, human interaction with the Deep Web will unleash economic incentives that will drive millions of entrepreneurs to create databases. The difference is that new Data are the only thing that a market is willing to pay for – not the popularity contests. And wow, is there a market waiting for you.

I understand that you are all very busy given the magnitude and complexity of your work. If this letter speaks to you, then please speak with me. Let’s discuss how your work would be applied to this very important effort. I’m easy to find in the datasphere.

Thank you

When Capitalists Are Really the Socialists

SocialistMickeyYikes…

Unemployment tops 10%.  Add in the under-employed, part timers, young adults trying to enter the job market, the ones who have given up or otherwise marginalized, and we’re well into the 15-20% range.

Mediated Reality:

When will people come to the realization that a new financial system is needed to represent the new social order?  When will people realize that they have in their possession the most important tool ever devised by humanity for the benefit of humanity?  When will they shut off the TV and reject the barrage of mediated reality that blinds them with propaganda at every turn?

The Value of Social Currency

How big is this opportunity?

Roughly 10% of the US gross Domestic Product can be attributed directly to the process of evaluating or examining transactions.  This represents a 1.4 Trillion Dollar of value in a system that may be better organized, captured, and preserved through social networks and the conversations that they produce.

Social vetting on a scale that would allow social networks to monetize would require that communities organize their knowledge assets specifically for deployment to a market.  All that an entrepreneur needs to do is fill this need.

What happens if they don’t?

The true cost of vetting may be calculated by what happens in the absence of oversight, transparency, and disclosure. When the vetting process fails, so too does the industry.  The continuing financial crisis of 2008 was fueled by a failure to regulate mortgage backed securities.  The financial Crisis of 2002 arose from a failed accounting (CPA) profession.

The losses due to the absence of vetting mechanism exceeds by many times the cost of having a system in place.  The financial crises of 2002 and 2008 have together wiped out nearly 20 Trillion dollars of value and incurred high volatility to financial systems due to failed vetting mechanisms.   The people who held the knowledge about the impending doom had no effective medium to share.

Who vets KNOWLEDGE assets?

The flow of money lives and dies by the vetting mechanism.  CarFax, Experian, Ebay, Google owe their existence to the ability to vet information – However, they do not vet knowledge.  The ability to deliver the right knowledge asset to the right place, at the right time for the right price is tantamount to being able to “manufacturing innovation”, that is, to print money.  Inversely, the ability to foresee the result of specific knowledge assets deployed to specific business conditions is the Holy Grail of entrepreneurs.

Social networks can carry out this very important function of the Innovation economy; organize, locate, and develop knowledge assets in a form which can emulate a financial instrument.

How are things changing?

Emerging ideas such as conversational currency, relationship economics, innovation economics,. nd new ways to value intangibles are appearing in research blogs across the web.  Disruptions to Global finance, environmental policy, and the emergence of global currencies are setting the stage for a huge transformation in how society organizes itself.  Traditional industries such as print media, advertising, and banking are failing. Nothing is sacred except change.

Where are these communities, and what do they want?

Many communities exist today in a variety of forms and functions such as communities of practice, fellowships, service organizations, professional societies, trades groups, affinity groups, etc.  Increasingly they are moving to Social Media such as Facebook groups, Linkedin groups, Affinity groups, aggregation groups, and political action groups.  Communities are using social media technology to engage the knowledge domain contained within them.

As such, they will soon have ability to foresee the result of specific knowledge assets deployed to specific business conditions.  This is the Holy Grail of modern civilization.

The Culture of Buying

My wife and I visited Istanbul a few years ago and met a very nice person who offered to take our photo in front of an ancient building.  Afterward, he gave us a history lesson about the area we were visiting.  He then invited us to his shop to look at some carpets.

Before we knew it, he was entertaining us with stories about the history of carpet making as a young boy pulled down stacks of carpets and displayed them one by one as we sat in comfortable chairs.  The shopkeeper identified attributes, color combination and traditional design patterns with an enchanting story for each one.

After a while, the shopkeeper from next door walks in with a tray of hot tea as we continued learning about the carpets.  A bit later, we all went across the street for a traditional Turkish snack and more tea. Then back to the shop for more carpet viewing.

Hey buddy, not so fast.

My wife and I decided to make a purchase but instead of taking our money, he took us back across the street to smoke the Hookah, sip real Turkish coffee and listen to live traditional musicians.

The whole process took many hours but it was like traveling in time.  Istanbul has been the crossroads of commerce between two continents for thousands of years.  We ended up paying too much money for the carpets – but to this day they are among our fondest memories and most prized possessions.  They represent an indescribable experience in an exotic and comfortable setting.  Now they look beautiful in our home.

Human Nature

It is human nature to trade.  People want to do it.  People want to meet other people.  People want to learn.  They want to share. People want to buy things and people want to sell things.  They want to congregate.  They want to travel.  People want new experiences.  They want to laugh, smile, sip tea, and listen to music. They want fond memories and beautiful carpets.

So why is monetizing social media so complicated?  What is the big secret?

The transaction of conversation, relationship, and knowledge:

With social media, people are invited by friends, family, or associates to walk through an electronic door and into their inventory of relationships.  Few people realize that this is a profound act of friendship, kindness, and trust.  Think about it, people trust you with their relationships. How do we manage that?

However, neither party is fully aware of the conditions upon which the relationships present their self.  The cultural infrastructure of introducing people, assisting in the exchange of conversation, and transaction of knowledge in social media is not established.  The idea that a transaction can and should take place is not fully recognized.  The introduction of the people to each other does not have a process, taxonomy, a location factor, or a time function.

Then again, social media has not been around for thousands of years

No buyer, no seller:

•    If social media develops a culture of sales – it will fail.

•    If social media develops a culture of buying – it will thrive for thousands of years.

The Relationship Economist

The Office of the Relationship Economist of the United States:

President Obama said in his inaugural address;

“Our workers are no less productive than when this crisis began. Our minds are no less inventive, our goods and services no less needed than they were last week or last month or last year. Our capacity remains undiminished”

This is true; so what changed?

Mr. Obama’s statement is profound; in a single stroke, he divorced human knowledge, talent, creativity, and intellect from dependency on the financial markets.  In one short statement, he reversed the old world order where economic growth drives relationships rather than relationships driving economic growth. Mr. Obama has made people tangible as financial instruments in their own right.  The language needed to change, only then could the relationships change and therefore, the economics.

Calculus: The Science of Change.

Change is everywhere.  The only thing certain is change itself. We vote for change we can believe in, we are aware of climate change, and we see the world constantly changing all around us. Each of these sentiments is an expression of the mathematical discipline of Calculus

Calculus got a bad rap with most of us in High School. Calculus has boring charts, funny symbols, strange sentences, and objects flying around in a frictionless space – nothing could be further from reality, so it seemed.  In reality, however, nothing could be simpler.  Early civilization noticed that seasons change over time. Farmers noticed that plants changed over time. Isaac Newton noticed that the speed of the apple changed over time as it fell.  Copernicus noticed that the location of the planets changed over time, etc.  We all notice and respond to change.

Economics: The science of Incentives:

Bankers noticed that the value of money could also change.  To lend money out for future repayment, there is a likelihood that something will change; good change, bad change, or no change. So, in order to avoid bad change and to keep good change, the lender charges “interest” on the money.  Interest represents the change of money over time – but not the reality of the change itself. Consequently, the change of money induced incentives for people to behave differently and this changed reality. For better and worse, reality reflected the incentives rather than the incentives reflecting reality.

The Language of Change:

Today our language is changing at an incredible speed – most words associated with the human condition have changed in definition over only a few decades ago. The words “relationship”, “society”, “marketing”, “innovation”, “media”, “democracy”, “productivity”, and many others, all have expanded meanings.  Now we need to create new words to describe new realities; Computer enabled society, Social Capitalism, Web 3.0, relationship economy, innovation economy.  What is the incentive?

Relationship: The Science of Communication

Now here is where Calculus gets complicated: If words are changing and communication is connected to the words, then communication is changing too.  If communication is changing, and productivity is connected to communication, then productivity is changing too. If productivity is changing, and the economy is connected to productivity, then the economy is changing too.

The Relationship Economy:

Just like money, the change in our relationships induces an incentive or disincentive to behave a certain way.  For better or worse, incentives will reflect reality rather than reality reflecting the incentibes.  That’s a game changer.

INGENESIST PROJECT: Submission to the 10^100

INGENESIST PROJECT: Submission to the 10^100 Innovation Contest; www.project10tothe100.com

Single sentence:
The Ingenesist Project is an open source economic development program to induce the Innovation Economy utilizing Social Networks.

Tell us more (300 words)
The current financial system has reached the limits of its effectiveness. Interest on debt has exceeded the system’s ability to pay it off. But debt is simply a promissory note on future productivity – any caveman can tell us that the only way to increase productivity today is to innovate yesterday, not tomorrow.

In modern times, this means that the only way to sustainably create more money tomorrow is to innovate today. This is the flaw on Wall Street that Innovation Economics will correct.

Ingenesist has specified three simple web applications when applied to Social Networks, will allow Knowledge to become tangible outside of the organizational construct of a corporation, government, or academia. To develop these applications would unleash substantial innovation and wealth in society.

*The Knowledge Inventory
*The Percentile Search engine
*The Innovation Bank

Knowledge is an excellent tangible asset upon which to peg a currency – better than Gold, Silver, or Debt.

The factors of production for an Innovation Economy are Social Capital, Creative Capital, and Intellectual Capital. The knowledge Inventory classifies knowledge assets in social networks. The Percentile Search Engine assembles unique knowledge asset combinations and returns their probability of executing a given business objective. The Innovation Bank matches most worthy knowledge surplus to most worthy knowledge deficit. Finally, entrepreneurs elevate knowledge assets from lower states to higher states of productivity thereby creating wealth in communities.

By analogy; in the early 1800’s Eli Whitney performed a demonstration for members of Congress by disassembling 10 working muskets, scrambling the pieces and reassembled 10 working muskets. It may seem trivial to us today, but that simple feat astonished the world; it led to the industrial revolution, and unlocked a vast amount of innovation and wealth creation. Innovation Economics is the modern day equivalent.
What Problem does it solve (150 words)?

Technological change must always precede economy growth. We are going about the process of globalization as if economic growth can precede technological change. This simple reversal is the cause for much of what is unsustainable in the world today. Innovation Economics corrects this flaw.

To make knowledge assets tangible is the Holy Grail of financial accounting. The Ingenesist Project asserts that knowledge assets are not intangible, they are simply invisible – this is a much easier problem to solve. Innovation economics solves this problem.

True valuation of knowledge assets allows for direct capitalization of people and their social, creative, and intellectual capital. Networks of knowledge assets form a new type of corporation that is fault tolerant, self regulating, risk diversified, and responsive to social priorities. Wall Street becomes the steward instead of the master. The whole game changes.

If it becomes a reality, what happens (150 words)?
If Innovation Economics becomes a reality, Social Networks will become the driving force of economic growth because human knowledge (as social capital, creative capital, and intellectual capital) can be capitalized directly. Creative knowledge workers would benefit most initially.

Eventually, publically traded Innovation Bonds backed by productivity gains will replace venture capital at vastly reduced risk and cost thereby unleashing an extraordinary amount of primary and tangential innovation creating a virtuous circle.

Areas of low productivity, such as poor communities and under-privileged populations will become targets for highest returns on innovation applications. Millions of new-to-the-world businesses will emerge and nearly all existing businesses will become more efficient where human knowledge is tangible and free to assemble itself in infinite, diverse, and strategic combinations.

If done correctly, eventually most people on Earth would benefit by freedom from the shackles of debt economics.

What are the initial steps to make it happen (150 words)?

Phase 1: The initial steps are: publish our research to a wider audience, prosecute our patent application (USPTO: 20070226361), release it to public property, and begin receiving public input.

Phase 2: Publish several animated videos which describe step-by-step the role that Social Networks must play to induce the Innovation Economy. Collect more input.

Phase 3: Create an open source development platform where ideas can be collected from the global community on how to develop the three web applications specified herein.

Phase 4: Develop and release common architecture web applications for The Knowledge Inventory, The Percentile Search Engine, and The Innovation Bank.

Phase 5: Exist indefinitely as an NGO to keep the game fair and build out emerging opportunities as needed.

What is the optimal Outcome and how is it measured (150 words)?
The intended outcome is for the innovation economy to arise from the knowledge economy as the next level of economic development. The optimal result would be an improved wider distribution of wealth and the transfer of corporate prioritization to communities regarding what gets innovated and what does not. Or likewise, which existing markets dynamics are disrupted and which are not. The optimal outcome would be the emergence of sustainable enterprise over forest-to-dump consumerism.

Metrics are inherent to the algorithm of the Percentile Search Engine as follows: innovation is proportional to the rate of change of knowledge with respect to time and knowledge is proportional to the rate of change of information with respect to time. Differential Calculus is the mathematical tool used to monitor all performance indicators of this system. In fact, all of the analytical methods of finance similarly apply to knowledge assets, by design.

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