Think Bigger. Aim Higher. Go Further.

Tag: social Media roi

Cory Doctorow In Seattle

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.

For The Win

His reading centered on the “exploitation” of young adults who are hired to play online games where they work to achieve levels, rewards, virtual currency, and game status which is then sold to rich Western players. Some players become highly valued for their knowledge inventory of game world monsters, strategies, power points, and the uncanny ability to assess the knowledge inventory of their opponents who’ll get suckered into a virtual dual with predictable consequences. The kids literally “mine gold”. As always, gold corrupts the most innocent hearts resulting in situations and behaviors at least as strange as the game itself.

The Activist

Cory has long been an activist for digital publication rights and rules. Not surprisingly, the Q&A was dominated by privacy, security, and exploitation of information issues. Cory recently closed his Facebook Account which caused quite a stir in the blogsphere. Ironically, every big name in world-class privacy violation had recently been in the news for Mr. Doctorow to eloquently spit roast on an open flame. It was quite entertaining.

There is a reason that it’s called Monetization

While Mr. Doctorow did not specifically mention this, what struck me most was hearing him talk around this emerging battle for control of people’s information. While this idea is not new, the reasons behind it may be new. As Money is losing it’s capacity to store and control value, human knowledge is increasing it’s capacity to store and control value – this is hugely accelerated by social media. The desperate attempt to control people’s information is really a proxy for the desperate attempt to control knowledge, therefore to re-control the value that money once represented.

Unfortunately, controlling information also destroys value.

People actively participate and share on social media to achieve levels, rewards, and status which is then sold to corporations in the form of predictive marketing by third party aggregators like Facebook. Some people become highly valued for their knowledge inventory of real-world game perils, influencers, and social mavens and become celebrities of the craft. Many develop the uncanny ability to assess the knowledge inventory of their opponents who get suckered into a virtual dual with predictable results.

Suddenly the News started sounding like one of Cory’s Science Fiction Novels…

Event Sponsored by: The Stranger

Future of Money and Technology Summit; Non-Quantifiable Exchanges

The above video playlist consists of the full 6 parts of the expert panel discussing non-quantifiable exchanges as recorded on April 26 2010 at the Future of Money and Technology Summit in San Francisco. The complete video is about 55 minutes. I encourage you to watch it because 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. It was a great privilege for me to be a part of this esteemed group.

Panelists:

Tara Hunt; Social Media Strategist, Author: The Whuffie Factor
Daniel Robles, Director, The Ingenesist Project
Micki Krimmel, CEO; NeighborGoods
Chris Heuer, CEO, Social Media Club

Moderator: Tara Hunt

The future of Money and Technology Summit is one of the most important conferences to emerge as a result of the accelerated innovation and organizational re-structuring forming as a result of increasing constraints on the global financial system. We all look forward to another excellent conference next year!

Two Sides Of The Social Value Equation

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.

In the presentations that I give, I often cite the value of a bridge over a waterway. The bridge may cost 50 million dollars to build and maintain, but it increases human productivity by 50 billion in the life span of the bridge. We often cite a factor of 1:1000 for the valuation of the dollar to social currency.

Contrary to that, Jane Jacobs (renowned urban theorist and community activist) may argue, the bridge (and roadway) may divide a community or neighborhood. Where the community may once have been scaled for foot traffic, the new boundary may require a car to circumvent. The new road may divert old commercial traffic in many ways that are bad for a community. In such a case, the social capital destroyed by the bridge is in fact the dominant financial outcome.

So here I am, I just destroyed my own best analogy to demonstrate a point. Without vetting the complete transaction in the form of social currency, net “progress” of any kind is as easy to leverage backwards as well as forward at a rate of 1000:1.

Communities that seek to stop a disruptive development program will often organize to protest urban development decisions. Unfortunately, they are usually up against a calculation of economic impact that is dominated by dollar denominated currency. Without a “Social Currency” of their own, quantified and convertible to dollars, communities are doomed. Law suits will play out in the same manner where damages are non-quantifiable, and therefore non-existent.

Jane Jacobs also writes that a community that can place a value on their social currency – although I do not think she explicitly called it that – and can act to preserve value or increase value by their actions. Many communities from Greenwich Village to Boston have thrived under a social currency diverting projects away from sensitive communities. The Big Dig went underground in Boston much like the The viaduct replacement project will do the same Seattle. Granted, the Seattle project mainly preserves water and mountain views for million dollar condos, this concept, in fact, would be more critical to poorer communities than wealthy ones.

Obviously there is no way to impede progress. All innovations destroy prior value in the creation of greater value. The danger is when Wall Street priorities can dominate Social Priorities. Capitalism, for all the greatness it creates, is amoral. Capitalism is committed to dollar currency, and devoid of social obligation except to the degree that obligation is profitable – that is where social currency converts to capital currency.

Through the magic of the fractional reserve system, Banks create money backed by debt vs. deposits at a factor of 1:1000. Therefore, the convertibility of social currency with a capital currency at a similar factor of 1000:1 is essentially the only effective way to convert Social Priorities into Wall Street Priorities.

Facebook Derivatives

It seems ironic that people are using Facebook to urge others to quit Facebook. If they take their own advice, they would no longer be able to give their golden advice to others. If we took their advice, we would not be able to heed the advice of others in this matter.

Is Facebook too big to fail?

The human race is becoming a super-organism of connectivity. Companies like Facebook are duplicating the functions that governments have performed – by various methods with diverse consequences – since the dawn of civilization. There is nothing new about Government organizing society and pandering to corporations. There is nothing new with people protesting governance. There is also nothing new with forms of governance being replaced by an evolution of human consciousness.

The Next Wave of Innovation in Social Media?

First; Facebook itself has no value other than the value of the people and their networks. As such, Facebook behaves like a financial derivative – it is not the actual item of value, it is simply a utility contract representing value.

Second; Facebook can only deal in information – it cannot deal in “knowledge”. Your information is a derivative of your “knowledge”, not the knowledge itself. The real value of a social network is in what lies between the ears of the members. Therefore, one way to encrypt the information is to encrypt the knowledge.

Third; Suppose that your “resume” were coded as a list of numbers and operations representing the quality and quantity of the things you know. Suppose the people in your network were also coded in a similar fashion. As such, your network, would be a combination of these codes. If you really “know” someone, it would be easy to find them. If you don’t know someone, it would be impossible to find them.

Fourth: The game changes because the incentive now is to “Mind Meld” with real people. Marketers can only then profit by telling the absolute truth about what the product is and the affinity that the product serves – anything else defaults to a “no-sale”. The person can then set filters to be notified of products and services that can make them more productive in pursuing the things that they love and care about – their community.

An Emerging Evolution

Many People cite Cluetrain Manifesto (1999) as the start of this higher consciousness. Cory Doctorow introduced a concept currency called the Whuffie (2003). Tara Hunt, Chris Brogan, Brian Solis, Seth Godin, Clay Shirky, Jay Deragon, and many others expanded the idea of trust and reputation in the formation of social capital and associated social reorganization. As these ideas are reconstructed, especially in a form that is independent of the construct of the Corporation, Social Capital is emerging as a highly complex instrument – not unlike a derivative.

If not human knowledge, then what?

Now we notice that Facebook, Whuffie, and Wall Street Dollars are all built on derivatives where the underlying value is human knowledge. That is where all the man-made value on Earth is stored, period. The value stored by Human Knowledge hedges all bets. Nobody has a monopoly on it, but everyone is trying to figure out how. To do so would be to destroy it.

Code knowledge to set it free.

Despite all of the grumbling about Facebook, Wall Street, and all issues Political, there is a clear path toward a higher purpose in all of this. We should ponder this and be quite grateful.

Social Currency and Anonymity

The subject of privacy and anonymity are again rising up with the latest move by Facebook to integrate updates across the Internet onto the Facebook platform.

Conspiracy theories about Facebook and the CIA continue to flourish.  Meanwhile, the marketing and advertising industry seems poised to reboot their dwindling influence under a new cloak and dagger of social media data hustling and predictive demographics rather than playing by new rules of engagement.

Money is one thing and value is another.

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.

If advertisers can pay someone to cold call me, to graph my data across the web, or sneak around my social networks, then they can certainly pay me to answer the phone.

The Ingenesist Project specifies an Innovation Economy built on the platform of social media.  While that thesis is extensive, let me summarize that the primordial soup of the Innovation Economy is called the Knowledge Asset Inventory.

Anonymous assets

One essential element of the new economic paradigm is the ability to combine knowledge assets so that innovation becomes predictable and therefore capitalized. However, a side effect is that such code makes the individual containers anonymous.  Marketers will have to pay you to find you.  here is why:

Now think about it this way – if you remove 20-dollar bill from your wallet to buy a Latte, you do not know (nor do you care) whether the last transaction performed by that 20-dollar bill was a donation to a charitable cause or a drug deal.  The dollar bill is anonymous – but you, as an asset, are not.

Social Currency is a Social Imperative

Dollar denominated money is a system to control social currency at a leverage factor of 1000:1.  Take away the dollar currency, and the leverage disappears.  Add a social currency and the national debt disappears.

Almost as a bonus, it is an absolute impossibility for marketers and advertisers to store and exchange value denominated in a social currency without extraordinary changes to the way they engage their clients….like, uhm, …don’t waste our time.

If we are smart, we can shut down the privacy issue in a hurry – anonymity of knowledge assets is the key.

Reality is Simple: Money is Time

daylight-saving-time-costs-billionsWhoever said “Time Is Money” got it backwards. Anyone who still believes this is now moving backwards in economic time.

Reality is simple: Money is time.

We pay to extend our live, we pay to have a good time, we wonder what time it is, we share time, we exchange time, we invest time. Everybody has a limited amount of time on Earth and everybody is competing for a slice of someone else’s time. Money is just the scorecard in a game of time.

Time is limited for everyone on Earth.

Sure, we often trade our time for money, but we also trade our time for many things; our children, families, travels, experiences, sleep, and consuming products and services. There is no other factor to which our behavior is more determined than time. Everyone does whatever they know to make the best use of their time.

How on Earth can the Whole Wide World go bankrupt?

Easy. The interest on money increases with time. When the total amount of money in existence is less than the sum of the principal plus the interest due, the World is bankrupt. We have long passed this point so what happens next is anyone’s guess, but be assured, something will happen.

Here is my guess, Money and Time will swap places. “Time is Money”, becomes “Money is Time”.  The principal will inflate away while the “interest” will continue to changes with time – but it will be pegged to “people” who also change with time.  As such, People and their knowledge become the medium of storage, exchange, and trade.  Knowledge is contained between their ears as social capital, creative capital, and intellectual capital.

Social Media Happens

Social Media saves time and people’s interaction with each other on social media is affecting the nature of money.

Google saves time, Wikipedia saves time, Amazon.com saves time, Facebook saves time, Linkedin save time. Foursquare and Gowalla increase the value of social time because going local saves time. Mashable and Tech Crunch save people time. Bloggers, educators, entertainers, and recreation increases the quality of time related to the intentions of the consumer. Trust, engagement, reputation, conversation, relationships, and tribes save time. Social Innovation saves time.

The Time Paradigm and the next generation of social applications

The next economic paradigm will be time based (as the scarce resource) and will probably look very similar to the one we know and understand today. The difference is that everyone will interact with the clock instead of the dollar.

In the next generation of social media applications we see that value will be derived from time saved or punished for time squandered. People will behave in a manner dependent on how much their time is worth.

The new business models will compete against time, rather than price. Quality will be measurable by anyone.  Precision and accuracy will be rewarded and manipulation will be punished. At the end of the day, Money is Time and the quality of time is the quality of money.

The Future of Money is the future of Time:

It’s hard to imagine any product or service that wastes people’s time surviving past the next decade.  It is hard to image any future innovation that does not save time over whatever it replaces.  It is hard to imagine the basis of any currency without a time value.

Image Source

Social Media: Power By The Hour

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.

A Social Trifecta

1. Obviously, Social Media is powerful.

2. Fractional ownership or rental of assets is an emerging trend in our environmentally, geographically, and monetarily constrained economy.

3.Vendor Relationship Management (Doc Searles) promises to change the shape of traditional advertising in the future.

What if we combined all three?

ZipCar is an excellent example of the fractional membership for automobile transportation. There are many advantages but also huge drawbacks. $7.00 per hour is a lot to add to a casual lunch at a sidewalk café or any social experience. Then there are all the lost options like the one-way-trip, guaranteed availability, all those rules and regulations. So, it’s pay now or pay later.

Social memberships

What if your friends in the social network also had ZipCar memberships and the scheduling were interchangeable? Suppose you could find a ZipCar anywhere and park one anywhere?

Now, enter the Vendor of goods and service. What if the Vendor were to subsidize the cost of the ZipCar to bring 4 people into the restaurant, club, or event? What if amusement parks, zoos and art exhibitions helped pay for full car-loads of friends to drive themselves to events?

The Vetting Mechanism:

What if the real social value of the ZipCar could be compared to car ownership for each intended trip? How would this influence your decision to drive, plan, or combine events into your user experience? What if Vendors could influence that cost to drive incentives?

Power By The Hour Game

The Above schematic is What I’ll Call the Social Media Power by the Hour Game. Everyone is part of the same social network and can talk to each other. Each Box represents a player that can influence the cost of the power by the hour. The True Value Calculator keeps score by comparing each transaction value to the equivalent car-ownership or public transportation value.

Set your filters and wait for the proposition…

Instead of scheduling, everyone (including passengers, vendors, social network) start by setting a bunch of filters that represent their approximate intentions. The system compares the intentions with ZipCar locations and compares it to the True Value Calculator. When a suitable transaction is in play, all the players are notified.

Once the game starts and enough people play, statistically, there should be ZipCars distributed proportionally around the city and all vendors will be managing their marketing campaign with 100% ROI on their impressions. The system will become a self optimizing money game.

A fully convertible currency

At first, this may seem like an application to sell ZipCar memberships, but actually, it is selling odds and entrepreneurs are placing bets. The ZipCar is simply a mechanical device that converts social currency into money.

A few Scenarios:

Scenario 1: When a vendor notices a group of friends going to the mall, they can pay for part of the ZipCar with a lunch coupon.

Scenario 2: Amusement park or event promoter can see when a family has no plans and can offer a free ZipCar to them

Scenario 3: The bigger your social network, the cheaper it becomes for you to drive a car

Scenario 4: Vendors can bid for the ZipCar audience with Packages of discounts, coupons and also earn impressions and trust.

Scenario 5: Friends can see what other friends are doing and can jump in the same ZipCar

Scenario 6: ZipCars can be parked densely at events since you will not necessarily leave in the same car that you came in.

Scenario 7: As soon as you park, the zip car becomes available for someone else. As soon as you need one, there is a high probability one is parked close by.

Scenario 6: ZipCar options can be traded like currency to buy things on, say, Craigslist

And many many many more……..

End result: The bigger your social network, the cheaper your Power By the Hour. The bigger the social network, the more effective WOM marketing becomes. The bigger the social network, the more options are available to users. The greater the social network, the more SOCIAL VALUE a ZipCar membership will have in comparison to independent car ownership. The bigger the social network, the more social currency can trade hands as the Dollar fails.

Building Better Problems

The solution to any problem is entirely dependent on how the problem is defined. Likewise, redefining the problem, exposes huge opportunities for new solutions.

In Fact, a great deal of innovation arises not from a clever solution, but from a clever new definition of a problem.

For example, “build a better mouse trap” has entirely different outcome when one simply changes the definition of the word “trap”.

Manufacturing Problems.

Commercial Air Transportation, for example, was once lauded as a “Time Machine” because airplanes could carry a person into “a future” that was otherwise impossible to emerge in, or to a “past” that would never have been witnessed by any other means.

However, solving this problem created many more problems such as runways, infrastructure, car parking, noise, oxygen, crashing, etc. Diligently, we went about solving those problems as well. Unfortunately, solving each of those problems created a host of new problems. Today we’re down to solving the 3.0 ounce of toothpaste rule and the flammable underwear problem.

At some point we need to ask if we are manufacturing problems with every new solution. At what point is innovation taking us backwards? How prevalent is this human trait and does it have anything to do with the financial deficit?

Redefine the Problem

One of the greatest opportunities of Social Media (which is rarely cited by the experts) is the opportunity to redefine problems in the context of social media. Using our airline example, we know that commercial aviation arose from WWII as a response for bringing troops to static battle fields with such dynamic machines as the DC3. This worked great after the war too!

Today we still treat people as static and airplanes as dynamic. Suppose we were to redefine the problem so that people are dynamic and the airplane is static?

Think about it, people go about their life with work, family, and friends. Then they hop into a long aluminum tube, tie themselves down and sit there doing nothing. After a few hours, they emerge from the tube to go about their life, work, family, and friends. The aluminum tube is static, not dynamic – it’s a time machine, remember?

The opportunity, therefore, is for people to self-aggregate using social media around locations, schedules, and events related to life, work, family, and friends. The market could then supply the correct size aluminum tube to meet the need of the community. After all, wouldn’t it be easier to move one airplane to meet the ‘market of many’ rather than trying to move the ‘market of many’ to meet one airplane?

This may sound trivial now, but don’t underestimate the creativity of social entrepreneurs to build a better problem to solve.

Should Educators Command an Equity Position in Students?

The idea that a mentor may take an equity position in a protege is not new – it happens in families and extended families as elders are fully aware that the children will provide for the family in the future. The connection is not to hard to grasp that it’s in everyone’s best interest to help the kids – all of the kids. This is the social contract.

Somehow that connection gets lost when everyone is competing for the same set of limited jobs and everyone is responding to the pressures of insurmountable debt to banking institutions.

As Social currencies begin to replace the decaying monetary currency, a new set of social instruments will arise. The scope and range of new social contracts is unlimited and should be expected to increase substantially. These social contracts will become tangible in a communities and may he used in a system of trade that stores and transfers knowledge efficiently in a community.

If a father can teach a son how to become successful in the family business, why can’t a community of fathers teach a community of sons to be successful in a community of businesses? This may need to happen whether we like it or not.

Video; Will Social Capitalism Replace the Corporation?

mysocialnetwork Meet the new Org Chart

A corporation is simply a legal entity – otherwise, it is fictitious. A corporation is made up of people who have a social agreement among themselves to do what is in the best interest of the legal entity.

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.

Video; You Can’t Make a Bet Without Odds

C14Dec09_290x390Entrepreneurs won’t make a bet without odds. So when it comes down to assembling knowledge assets into an innovation enterprise, how can entrepreneurs predict the likelihood that they will be successful? The short answer is that they cannot.

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.

This is the greatest constraint on economic growth that America faces, not inflation, debt, taxes, or regulation….entrepreneurs have simply run out of info juice. This is the greatest challenge of our times. What are the odds that we’ll figure it out?

Video: The Last Mile of Social Media

Sure Bro…Facebook, Twitter, and Linkedin are great for broadcasting across the Ocean, but how good are they for meeting your neighbors? As wonderful as all this global chatter appears, nothing tangible happens until the rubber meets the road.

Don’t Worry, Be Neighborly…

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.

Video: Money vs. Productivity

The questions are:

1. What is money? 2. Why is it important? 3. Why is it all so confusing?

The answers are:

1. You are money. 2. You are important. 3. You’re not supposed to know this.

This video provide an easy way to find the truth among the high-fiber ambiguity that has become our political morass. Oh Yeah, they want you to be confused because they don’t want you to act any differently.

Thank You for Flying Citizen Airlines, LLC

I will be introducing a number of applications of Innovation Economics in Social Media as continue writing part 2 of my book. The objective is to identify new business opportunities by disrupting the old economic paradigm with new ways to organize people around social media. In this case, a troubled industry would team up with communities that are not their direct customers:

Corporate-jet-001I live in Edmonds Washington near Paine Field – home of the sprawling Boeing manufacturing site of the 747, 777, and 787 aircraft. For years, the county executives have been trying to lure major airline service into Paine Field Airport claiming the economic benefits would far outweigh the drawbacks. Paine Field is about 1 hour north of Seattle Tacoma Airport and about 3 hours South of Vancouver, BC.

Many efforts over the years to locate another airport in this gap have hit political and environmental land mines. Paine Field expansion is no different. For years, the county, state, and FAA have been funding “improvements” that look a lot like accommodations for scheduled airline service. The county executive has been courting carriers, lobbying ‘unaffected voters’ and corralling legislators to this grand economic development cause.

The citizens of neighboring communities have not stood still. They have commissioned studies of every environment and quality of life factor from home value impact to distracted learning at the local schools. They cite urban blight, social deviance, and under development at other similar expansion projects. Political careers are made and broken over support or opposition to the airport expansion.

So far, the market has not proven large enough to support a major B737 sized scheduled service. Ironically, there have been very few studies of the impact of private aviation service expansions. Little data is discussed related to the noise foot print of small jets versus large jets. Very little data is presented to the community about distributed vs. concentrated air and car traffic flows and the upscale effects of a private aviation presence.

To the community’s advantage, small private carriers can soak up and diffuse the market that would eventually support a major carrier. These battles are raging all over the country against the political mantra of Jobs! Jobs! Jobs! Local communities are running out of money, lawyers, and stall tactics to fight them.

With the price of seat on a (full) private Jet about the same as a business class ticket on a major airline, local communities may want to go into the travel agency business. By using community media, website, a booking website, twitter alerts, and tourism agents to identify and match travelers to destinations combined with some proactive social media marketing, Citizen Airlines LLC can stave off an airport expansion by competing with it.

Meanwhile, unemployed citizens are available to manage an on-line Community Branded jet service (operated by a private carrier). Advertising and marketing can be transferred to the community in exchange for reduced rates and shared access to private aviation reports and data which would help them fight airline expansion.

This requires that the private aviation industry empower communities who are not necessarily their direct customers but are stakeholders none the less. Social Capitalism is the act of elevating oneself by elevating the entire community rather than opressing then for capitalist gains. By giving people a voice, the economy gets a bullhorn.

Is it Social Media or Corporate Media?

corporate news

Visionaries Ho!

There are no shortage of intelligent and visionary social media celebrities.  They write great books about markets, social media tools, strategies, and on-line reputation for the benefit of the millions of people stuck on any part of the slippery social media learning curve.  They are infinitely generous with their knowledge and share it freely at countless conferences, blog posts, and syndicated articles.

There is, however, one thing that most of these Guru’s have in common – they consult to and are paid by large corporations. I could be considered part of this crowd for whatever my influence is worth.  So the question about causation is due – will social media develop as a function of corporate interaction with it?

If so, then it is not social media – it is corporate media.

This is no surprise, nor should there be any apparent concern, after all, everyone has to make a living and it is better that the corporations pay people to create content that benefits me.   The practice is conducted quite ethically too -most readily disclose where their financial support comes from and we all benefit from free information that helps us keep the playing field as level as it can be.

But at the end of the day, it’s all about eye-balls and bullhorns.  In order to produce eyeballs and bullhorns, people must be sitting at a computer or, at least, staring at a handset.  The longer you can keep people interacting with the brand instead of interacting with each other, the better off everyone is, right?

Social Media Consumer Advocate

A consumer advocate is someone who helps look after the best interest of the consumer for product safety and false advertising.  Social media is pushing the envelope of the corporate interaction with consumers.  “Advertising” no longer lends itself to the objective review of a billboard, commercial, or public statement.  Social Media Marketing is increasingly sophisticated and manipulative.  The vulnerable people; children and elders are no less vulnerable on social media, and may be more.

Social anomalies?

Some of the emerging research related to social media is surprising with increased instances of what can be considered social anomalies:

Infantilism; adults doing childish things like playing silly games in ‘public’
Attention deficit hyperactivity disorder; constantly checking for updates and new photos,
Depression and loneliness; preference of social media over real live interaction
Narcissism; The excessive love or admiration of one’s image of their self.

Is it social because it is media or is it media because it is social?

We need to ask ourselves what is the difference between computer enabled reality and computer simulated reality.   If we lose “causation” the entire body of analysis can be called into the question: is social media or is it corporate media?

Should Education be Open Source?

open-courseWe continue to challenge the relevance of the college “degree” as being an insufficient measurement for what “educated” is, or is not, in an innovation economy. With the cost of a college degree spiraling upward and the value of the degree spiraling downward, the market will tip in favor of the alternative education measurements.

It is important to note that we do not challenge the existence of institutes of higher education, only the “degree” as a unit of measurement. The four year Bachelor degree and two year Masters degree are irrelevant as a title (there is no legal title since the age of the guilds) and arbitrary in duration to respond to the diversity, speed, and scope at which new technologies become available for deployment.

Ray Barton writes: The UK House of Commons in its’ report on Re-skilling in January 2009 stated the useful life of a degree is five years. In high tech professions, the useful lifetime of knowledge can be as short as 1.5 years.

This alone disrupts the current paradigm of higher education in several ways.

Social Media and Flip-floponomics

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.

Let’s demonstrate how this works.

Flip-floponom A:

Twitter has announced that they will mine user generated data and process it into business intelligence which they will sell to corporations for a whole lot of money.  As such, corporations who were unable to figure out how to charge people a whole lot of money money to “watch” social media can now be charged a whole lot of money to “watch” social media

Flip-floponom B:

YouTube can’t make money on ads because viewers don’t care.  But with user generated content such as Jill and Kevin’s wedding (with 12 million views), Chris Brown landed a land slide of sales for the song “Forever”.  The audience is now the Brands positioning themselves to be “user-generated”.

The Mother of all Flip-flopona:

Before flip-floponomics: entrepreneurs assumed that they had the knowledge to execute a business plan and they went to the bank to borrow money.

After Flip-floponomics: entrepreneurs assumed they had the money to execute a business plan and they go to social media to borrow the knowledge.

Next economic paradigm:

With the continuing integration of social media, every single business transaction has the potential to be re-invented in the mirror image if itself using the principles of flip-floponomics.  The opportunities for future entrepreneurs who figure out this class of business activity can be described as nothing short of astonishing.

 

Image Credit Picasso

Does Social Relevancy Matter?

The Ingenesist Project Community concerns itself with the value of social reach since this will most certainly impact he relevance of  those conversing as well as the relevance of the conversation to some business activity.  Obviously, innovation is about having the right team in the right place at the right time.

Furthermore, business activities such as marketing and advertising need to make their communications more relevant and less wasteful of their audience’s limited bandwidth – lest they risk being perceived as “anti-social”.

Stated somewhat more clinically; the most worthy knowledge surplus must be matched with the most worthy knowledge deficit in order to produce the most valuable outcome.

Brynn Evans offers the following observation:

The future of search  involves social networks, social graphs, or social filtering in some capacity.  Companies will live or die by whether they get the “social” part right: creating the right level of intimacy, trust, reliability, social connectedness, and accuracy in their results listings. Of course, this specifically means that their user experience must at least meet or, preferably, exceed that of Google’s.

To achieve this, we must first stop arguing over the different flavors of search.

Real-time search. Social search. Semantic search. These distinctions are essentially meaningless, especially when we can’t even agree on definitions and when each of their boundaries remain undefined. Instead, we should recognize that they’re all part and parcel of personalizing and contextualizing search for individual users. Let’s stop playing the “name game” and start thinking holistically about how each (and all!) affects and improves what we think of today as “search.”

Defies analysis, defies control:

Ms Evans’ excellent analysis continues to identify numerous problems with attempting to classify Social Relevance – each system is merely trumped by new issues related to semantics, context, and proximity.  It seems as if the more you try to “control” social media, the more it defies control.  The more you try to study it, the more it shows you a mirror of yourself.  Introspection is the irony of extroversion.

The great big Sucking Sound

While nobody, including Ms. Evans can tell you how to increase your social relevancy, we can probably all agree on what does not.   If your message sucks, your social relevancy will also suck.  If you are trying to sell a product that does not actually save people time and increase their net productivity, your product will fail and your social relevancy will suck.   If you are in any way trying to match unworthy knowledge surplus with unworthy knowledge deficit, your social relevancy will suck.

Give up Control in order to gain control:

Business intelligence is the science of knowing what sucks and what does not.  Let Social media carry your message wherever it wants to carry it. The sooner the market tells you what it wants, the sooner you can adapt your products and services to meet the needs.  Things happen fast in social media space and the corporation needs to be faster.  This may mean corporations need to give up control in order to gain control of both the threats and opportunities of the future.  After all, even by the playbook of Corporate America : survival of the fittest is the only relevant social rank.

(Ed: Brynn Evans is a PhD student in Cognitive Science at UC San Diego who uses digital anthropology to study and better understand social search)

If it Quacks like a Buck…..

If it looks like a buck, and talks like a buck, and quacks like a buck – it’s probably a buck.

So when your money gets “free will” and starts walking out the door door, that’s bad enough.  When flies out the window en mass enabled by the same social media that  brings money in the door – serious management issues arise.  Should organization choose fight, flight, or cooperation?

Battle lines are being drawn:

  • “Among large U.S. companies, 33% have employees on staff to monitor e-mail messages — up from 15% last year, one survey found. The Proofpoint study also found that 31% of companies had fired workers who breached confidentiality via e-mail, and 8% had fired someone over a social-networking leak. The survey found 41% of respondents are worried about potential leaks via Twitter. ZDNet (08/10)”
  • “Marines banned social networking sites from their computers Tuesday due to security concerns, and the Pentagon announced a policy review. But Pentagon’s top officer will still tweet (Christian Science Monitor 08/05)

There are literally thousands of articles on this subject but none of the few that I read came to any conclusion, so I will:

Money is becoming intangible (cannot be contained) and Social Media is becoming tangible (has become the container)

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.

Swap or swamp?

Easier said than done?  Not really; all we need to do is swap the same methods that we use to manage tangible assets with those same methods that we use to manage intangible assets.  There are in fact people and organizations trying to do this (specifically this author) but you won’t find then in corporations anymore.

Companies have no choice but to understand migration patterns, flock actualization needs, motivation, and environmental issues.  Going from an economy where the corporate charter is only “to deliver shareholder value” to one of safeguarding the health and welfare of people and their property” is a huge leap.

The discussion of Conversational Currency is required to understand the underlying economic forces that drive social media and the emerging institutional structure for corporations to create value in a computer enabled society.

Powered by WordPress & Theme by Anders Norén

css.php