Think Bigger. Aim Higher. Go Further.

Tag: synergy

America’s Uncivil War

I am deeply concerned with the Liberal / Conservative flame wars. Countless Facebook discussions start with a casual reference to one position or the other, then quickly devolve into deeply divisive language. I see it in forums, Chats, Comments on blogs, news articles and YouTube Videos.

It’s getting worse – people can no longer agree to disagree.

I do not believe in big government. On the other hand, I do not believe that corporations should be the sole protectors for safeguarding the social charter. Call me an idealist, but I truly believe that given the right incentives, people can govern themselves to a very large degree.

Weapon of Mass Reconstruction

We have at our disposal the most powerful tool ever created for the potential benefit of humanity. Societies since the beginning of our time would have envied us beyond words – as their villages were pillaged, as the plague spread, or as the hurricane hit shore – if they had a system that could unify and organize people as we can do today with social media.

My fear, is that we will use this tool to divide instead of unify. Traditional media and the advertising industry are in deep trouble as people go online to self-select their news and content.

Trust me, I’m your friend

Unfortunately, traditional media (TV, print, and Radio) are under extraordinary pressure not just to maintain ratings, but to increase ratings to subsidize less successful areas of the enterprise. As a result, the content must become more and more sensational in order to keep people watching commercials. If I earned one dollar for every minute of YOUR time that I could waste, would you trust me? Yet people do.

The Terrorist Within

I am terrorized by the notion that Americans will turn against Americans. The problems facing this nation are so complex, so controversial, and so far reaching into the past and the future that it is unlikely that any intelligent person is more qualified than any other intelligent person to hold the highest office. Barrack, Hillary, Sarah, John, would all have the same pressures pushing back on every move leading them down 95% similar paths. None could be better and none could be worse – we’re officially in this together.

So until the super-star with extra-human discernment rides out of the clouds, People should really really be looking for a third way through this. Pure Communism is a Failure, Pure Socialism is a failure, and we are quickly learning that Pure Capitalism also runs out of track.

America’s Uncivil War

The Next Great American Civil War will be a battle against ourselves – all of the artifacts of past generations that pull at our subconsciousness; the reactionary fight or flight instinct of our ancestors. We are being called to something new. Let’s get on with business and find out where this road leads – together.

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 🙂

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.

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

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.

The Six Discovery Skills for Innovators

missing pieceHarvard Business Review contributing editor Bronwyn Fryer conducted a six-year study surveying 3,000 creative executives and conducting an additional 500 individual interviews. During this study she identified five “discovery skills” that distinguish them (reference article here)

The 5 Discovery Skills

1. The first skill is what we call “associating.” It’s a cognitive skill that allows creative people to make connections across seemingly unrelated questions, problems, or ideas.

2. The second skill is questioning — an ability to ask “what if”, “why”, and “why not” questions that challenge the status quo and open up the bigger picture.

3. The third is the ability to closely observe details, particularly the details of people’s behavior.

4. Another skill is the ability to experiment — the people we studied are always trying on new experiences and exploring new worlds.

5. And finally, they are really good at networking with smart people who have little in common with them, but from whom they can learn.

Encourage Childhood Curiosity

The study was further associated with an enriched childhood experiences and early development of the child’s curiosity.  It is difficult to disagree with any of these findings and it is of dire importance to duplicate at any expense these conditions for our children the sake of their future and the world that they will inherit.

What troubles me is the following:

The persons interviewed in the study were all outliers – the top .01% of success stories.  These are innovators who had performed according to prevailing business theory for a 20th Century American definition of “innovation”.  The probability that any single person has all 5 skills in synergistic quantity is extremely low.

The 6th Discovery Skill; discovering the missing pieces.

Suppose that a person has a high surplus in skill # 1, #2 and #4 and but an extreme deficit in #3 and #5 ?  The profile can then be just as easily associated with a sociopath destined for incarceration. So what do we do with the other 99.99% of people?  Are they incapable of Innovation?  Are they not the ones to “bet on” in the race for a cure from ourselves?

Mirror Mirror on the Wall…

It is not surprising that Harvard, the bastion of top .01% humans would, in fact, find themselves in the proverbial mirror.  However, they do leave us a hint in skill #5; the ability to network with smart people who have little in common but from whom they can learn.

The great opportunity for an innovation economy built on social media is the ability to purposely match most worthy knowledge deficit to most worthy knowledge surplus so that teams of people can be designed to simulate the ideal top .01% human and thereby vastly increase the innovation and entrepreneurial capacity of society.

Let’s rethink this

Such as structure for an innovation economy built on a social media platform is specified by the Ingenesist Project and others.  It includes a revised definition for innovation, a knowledge inventory, a  percentile search engine, a system for matching knowledge assets, and a feedback system to capture  and duplicate desirable outcomes – all integrated and securitized in a financial instrument.  Will the secret sauce resemble the 5 discovery skills that made the morning headlines?  Who knows? After all, that’s exactly how I wrote this article.

The New Reverse World Order

Bank-of-Wal-Mart-Note--40279The New Reverse Order

If someone can track your spending, they can predict your behavior.  It is also true that if someone can track your behavior, they predict your spending.   The next economic paradigm is simply a higher order of the same.

On the next higher order, if someone knows your “Knowledge Inventory” they can predict how you will manage changing conditions – that is, how you will innovate.  Likewise, tracking how people innovate exposes the development of new knowledge assets (the ‘gold-standard’ of conversational currency).

Everyday some new headline shows that we are getting closer and closer to that point – for better or worse – where humanity learns to manage an innovation economy.

Profound Issues Arise.

The following article about Wal-Mart adopting the debit card (Wal-Mart to Staff: Bye-Bye Paycheck, Hello Debit Card) as a means of issuing paychecks represents a quantum leap in the monetization of knowledge assets.  We expect many more will closely follow in one of the most important financial developments in financial history – virtual currency.  If food stamps can be delivered on a debit card, why not frequent flier miles, Disney Dollars, coupons, rebates, tulip bulbs, beanie babies, or a new global currency such as the Rallod?

A Vetting Zoo

The only questions that remain are related to Vetting.  By all accounts Social Media is developing into the mother of all vetting mechanisms.  Who controls the card? What system is it replacing? Who can pull money off?  Who charges fees to whom and why? Who gets the business intelligence?  What is the PR spin?  Can advertisers interact with the card to apply discounts and rewards?  What types incentives motivate what types of people and can it go on a debit card?

A Steep Departure

Each of these questions, and the companies they spawn, will live or die by Tweet and Blog – this is a steep departure from the past.  For example; 30 years ago, if every American were told that their social security number would be tied to a credits score that is tied to their driving record, employability, insurance premium, health care, mortgage rate, and, yup, their debit card – the cities would have burned in protest.

Nobody could have seen this future except those who designed it.  Today, the designers are you and I – see the future now, see the future here at Conversational Currency.

Trust as a Social Currency

The idea of trust as social currency is appearing in more articles, conferences, and books.  This is all highly consistent with the TIP thesis on Innovation Economics which describes the necessity of a vetting mechanism among the knowledge inventory as a means for the emergence of a currency in a market – that is, a conversational currency.  People need to trust the currency if they are to trade the currency.

Shefaly Yogendra provides some excellent insights below.  Keep in mind that American Culture does not have a monopoly on the definition of trust.  It should not be an American expectation to define the conversational currency in our own image.  Indeed, convertability of such currency will be, and must be, global.

I kept the analysis sparse on this article because it is a valuable exercise to form one’s own perspective on trust prior to diving into someone Else’s opinion.  After all, it’s your currency – you own it.  Good luck.

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by Shefaly (please see her Bio here)

Trust is a non-negotiable essential in business. The post linked here refers to web-based business-to-consumer interactions. But as social currency, Trust is the most significant in interactions amongst organisations, customers, employees and regulatory bodies.

Definitions

Wikipedia defines social currency as “information shared which encourages further social encounters“. Social currency is different from social capital which refers to “connections within and between social networks and individuals“.

Social currency – some characteristics

a) No distinction between ‘physical’ and ‘virtual’ worlds

b) No distinction between ‘individuals’ and ‘corporate entities’

c) No distinction between validity of negative or positive normative labels

Determining the value of Trust as social currency

a) Verifiable Identity and antecedents

b) Consistency

c) Reliability

d) Peer recognition

e) Value of the network

f) Individuality and collaborative consciousness

The original article can be found here and it elaborates on each of the points above.

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