The Ingenesist Project

The Next Economic Paradigm

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The Tip of the Iceberg

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On September 20, 2023

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The Invisible Economy:

Nobel Laureate Dr. Robert Solow calculated that 80% of economic growth can be attributed to technological change. This is the domain of engineers, scientists, and technologists. Accordingly, knowledge assets and their derivatives are not actually “intangible” but rather, they are simply invisible and unable to be measured directly. Like the proverbial “tip of the iceberg” the visible part of the economy is supported by the invisible assets below the surface.

True to form, emerging technology now offers us the ability to quantify this vast reservoir of value. We now have the opportunity to unlock an economy many times larger than the one we currently grapple with – the one in which there is “never enough money” to care for our planet and meet the needs of our civilization.

The Innovation Bank:

The Innovation Bank utilizes game mechanics, blockchain technology, and Artificial Intelligence to measure the natural interactions of engineers, scientists, and technologists within a simulation representing this hidden economy. Novel Financial Instruments may then represent this new value.

What is an Ingenesist?

A “Capitalist” is a person who uses money to invest in trade and industry for profit. An “Ingenesist” is a person who uses ingenuity to invest in trade and industry for profit. Both operate in tandem to arrive at optimal solutions to market requirements.

Join Us:

The Ingenesist Project comprises the collective vision, intellect, and creativity of more than 250 engineers, scientists, and technologists who have collaborated across various industries over the past 30 years as a non-profit research and governance organization.

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Introducing Intrinsic Coin

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On August 15, 2015

In General Information

From Wiktionary: INTRINSIC

Nothing economic can happen until two or more people get together and build something useful.  In a global human network that is facing global constraints, the core function of the economy must be to find each other.  This is made extremely difficult by the existing “factors of production” that now classify and allocate your productivity and mine.  The true intrinsic value of money resides in the social, creative, and intellectual capacity of people who design, maintain, and support those factors of production.

Early cryptocurrencies solve only part of this problem by providing a indelible ledger and medium of exchange. But true money must store (represent) human productivity, otherwise people would not be willing to be productive in exchange for it. To reconcile these shortcomings, The Ingenesist Project (TIP) is building a new class of cryptocurrency with the defining characteristic of storing and exchanging social, creative, and intellectual value intrinsically, i.e., within the currency itself.

By integrating a Curiosumé layer with an efficient and robust blockchain backbone, people can exchange a currency that represents the intrinsic value of their own productivity in collaboration with that from their community.  Curiosumé converts the résumé into cryptography that allows people to control their own identity as “smart keys” where they can interact with each other using “smart contracts” on a “smart blockchain” such as Bitshares and others.

It is well known that the value of a nation’s currency is backed by the productivity of its citizens. The same is true for states, communities, and even individual persons. Money must have intrinsic value. There really is no way around this except by developing an Intrinsic Coin with these specific characteristics.  This already works on a small scale with community currencies and in co-ops. The challenge now is to scale broadly it to a point of voluntary generalized reciprocity.

Introducing Intrinsic Coin solves this problem by decentralizing productivity of a community prior to the exchange, not after.  This allows people to take control of their identities and the market place for their social, creative, and intellectual capital. From decentralizing so-called ‘human resources’, to putting a tollbooth on big data, to hedging debt instruments, the implications of an Intrinsic Coin are sweeping and vast.

There is no shortage of work that needs to be done, but there is increasingly scarce money to pay for it. There are abundant social, creative, and intellectual assets in people that are not articulated in any traditional accounting system.  If we can create that accounting system, we’ll be able to tap into a ground swell of hugely productive makers who are misallocated in their jobs and careers by the silos they are placed in … or excluded from.

People need a new form of money that they can trade among their selves which helps them find each other and represent their true unadulterated productivity. They need a decentralized ledger and a local exchange. This is where the promise of blockchain technology started. This is where Intrinsic Coin will serve.

The Ingenesist Project Team is comprised of multi-disciplinary experts in Engineering, Insurance, Banking, Philanthropy, and Blockchain Development. Interested partners and financial technology media are encouraged to contact the Ingenesist Project at https://ingenesist.com

References: Curiosumé – Reorganizing In the Era of Social Capitalism

 

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The New Definition Of Social Capitalism

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On July 22, 2014

In General Information

About 3 months ago, I received a cryptic email from what sounded like a war-weary Wikipedia Editor pinned down in the trenches by enemy cross-fire.  His message was stark;  Wikipedia will delete “Social Capitalism”, you are in the best position to save it”.

Since the dawn of Social Media, many people in the Social Capital domain, including myself, had been contributing references, material, ideas, and theoretical constructs to the doomed Wikipedia article in naive optimism that Social Capitalism may indeed be a new form of social organization.  So, upon receiving the desperate plea from the front lines of Wikipedia D-day, I jumped in and submitted argument after argument to an already formidable defense deploring the powerful Wikipedia Editors to preserve the article, the idea, the possibility…

But alas, we failed.  Perhaps we did not have proper academic credentials. Maybe we were not widely cited by important people. Our oppressors eventually provided a weak explanation related to social systems and economics, etc., but in retrospect, I think the real problem was that we were trying to define something that did not yet exist despite nearly 30 million Google search returns.

I have to admit that I agree with the Wikipedia editors. In reviewing that experience recently, I turned to the definition for “Capitalism (disambiguation)” in Wikipedia:

Wikipedia defines Capitalism as an “economic and social system in which the means of production are privately controlled”. 

Factors of Production (from classical economics) are presumed to be something like “land, labor, and capital”.  Now, consider that modern day factors of production are increasingly cited as: “Social Capital, Intellectual Capital, and Creative Capital” of people and their relationships.  After all, these are the assets that are deployed in order to produce the proverbial “basket of goods” upon which most global currencies are compared.  

This is not trivial. Since these modern factors of production exist between the ears of each individual person, they are, by definition “privately controlled” and readily exchanged for economic outcomes among people in social networks.

If the US Supreme Court agrees that corporations are people, then it is equally valid that people are corporations too. Taken together:

Social Capitalism refers to the economic and social system in which the means of production are social, creative, and intellectual assets.  

However, (and a big however), in order for Social Capitalism to become the dominant form of social organization, quite literally, society must reorganize itself to account for exchange and trade of intangibles. Then, all the decentralized innovations that we call the “Social Capital Domain” can integrate, unify, and dominate. Everything will change.

SEE: Reorganizing For The Era Of Social Capitalism

Perhaps then we’ll finally have a Wikipedia article for Social Capitalism like those clear, present, and magnificently organized warriors behind such economic facts as  Corporate Personhood.

 

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New Value Movement Session Primer

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On August 4, 2012

In General Information

Thank you for participating in the New Value Movement discussions.

I have compiled this post to help our panelists refresh the basics of The New Value Movement. This is the body of content that we are trying to improve:

If you find them difficult to follow, then that is what needs improvement.  I’ll do a quick review at the sessions as well.

We need to tell an epic story.

New Value Movement Session Primer – Total viewing time is about 33 minutes.

***

SIBOS 2011 (6:39 minutes)  this video is the Launch presentation for the NVM delivered to financial industry professional at SIBOS Innotribe sessions in Toronto 2011.  It introduces ideas corresponding to the Zertify, Gamidox, and Exoquant applications.

****

This next video describes The Knowledge Asset Inventory (5:30 Minutes) and corresponds to the Zertify Application concept.  However, the actual methodology is masked and I have not published this openly the web – this is the only secret we keep at this point. The actual methodology will be revealed at the session.

***

The next video describes The Value Game; a system for accounting for new value (12:17 minutes); and corresponds to the Gamidox application. This was originally used to launch a start-up called Social Flights. However, there are several layers of informative examples in this video.

Next: The algorithm for monetizing (making tangible) of intangible value is described in the video below (5:30 minutes) and corresponds to the Exoquant Application.

Finally; predictions 2020 begins to lay out the scope of influence that alternate economics may have if done correctly. As such, this video (3:30 minutes) suggests the scope of audience that the New Value Movement narrative should access.

Again, thank you for your time, effort, experience, and intellect participating on this panel. Dear regular blog readers: please continue to leave comments or connect with me to get involved with the New Value Movement.

New Value Movement Session Primer

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With Respect To Time

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On May 18, 2012

In General Information

Yesterday’s post “This is what I believe” I make the following 4 statements:

  • Information is proportional to the rate of change of data with respect to time
  • Knowledge is proportional to the rate of change of information with respect to time
  • Innovation is proportional to the rate of change of  knowledge with respect to time
  • Wisdom is proportional to the rate of change of innovation with respect to time

In clinical terms, this is called a “Differential Equation”

I always get a lot of questions about these.  Most people’s eyes glaze over as their expression goes blank with far off images of high school Calculus class.  Few people realize that these relationships are so common and so intuitive that we are all  performing “Calculus” in many of their thoughts, words, actions, opinions, observations, and conclusions about the world around us.

But, just in case there is any doubt about the pervasiveness of differential equations in our culture and thinking, listen to the experts:

***

“Move fast and break things” – Mark Zuckerberg

The idea here is that it’s OK to fail because this is how learning happens (rate of change of knowledge) but make sure you do it fast (with respect to time) because the objective is to innovate, not to not make mistakes.

honor your creativity and you don’t ever ignore it or go against what that creative image is telling you. – Lady Gaga

Here she is referring to the proportionality component of creativity. The magnitude of the inspiration (rate of change of one’s knowledge of a matter) is greater than all other thinking moments, but it is constrained in time (with respect to time).

“The Googly thing is to launch [products] early on Google Labs and then iterate, – Merissa Mayer, Google VP

Marissa is talking about Wisdom.  While innovation is proportional to the rate of change of knowledge, wisdom is proportional to the rate of change of innovation.  The speed at which Google can innovate is how Google creates wisdom of what to do next.

***

Here are a few more. See if you can spot the differential equation:

“What Mark worries about the most is the lack of change, the lack of innovation” – Sheryl Sandberg, COO Facebook

“Every new thing creates two new questions and two new opportunities.”– Jeff Bezos, Founder of Amazon.com

“It’s always about timing. If it’s too soon, no one understands. If it’s too late, everyone’s forgotten.’” – Anna Wintour, Editor in Chief, Vogue Magazine

“All technology starts as a spark in someone’s brain”. – Nathan Myhrvold, Intellectual Ventures (hint: sparks travel at the speed of light)

“As people innovate and learn faster, they help generate new ways of performance improvements for everyone while progressing toward their own higher goals” – John Hagel, The Big Shift

Differential Equations are used to describe a vast array of phenomena in our physical universe.

These include the the forces of particles in motion, diffusion of medicine through cell walls, the decay of radioactive substances, and effects of gravity on bodies, weather, energy, chemical reactions, even the creation of money itself.  It should not be a shock then that bankers, CEOs, politicians, and all “investors” are not actually concerned with money, they are concerned with the rate of change of money with respect to time.

The question now becomes, why would their NOT be an algorithm for human values of knowledge, innovation, and wisdom when there is an algorithm for everything else with respect to time.  

Additional information can be fount here: Exoquant; an algorithm for Social Capitalism 

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This Is What I Believe

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On May 17, 2012

In General Information

  1. There is a tiny flaw in Market Capitalism that can be easily corrected
  2. Technological change must always precede economic growth; we are going about the process of globalization as if economic growth can precede technological change.  We got it upside down, that’s all.
  3. Anything that can be made by allocating scarce land, labor, and financial capital can also be made by allocating abundant social, creative, and intellectual capital.
  4. For every dollar of tangible value, there is at least 100 dollars worth of  ‘intangible’ value that is really just ‘invisible’.
  5. The global debt is trivial in comparison to the invisible value that exists with no accounting system to represent it.
  6. There should be no economic incentive for anyone to make anything other than what they are most talented, interested, and passionate about.
  7. Nobody knows everything.
  8. Everybody knows something they can teach any other person.
  9. Students, by definition, hold an equity position in their teachers.
  10. Therefore, teachers should hold an equity position in their students – this will fix a lot of things.
  11. Nothing economic happens until two or more people get together and build something.
  12. Competition is over rated.
  13. Collaboration is under rated.
  14. All monetary things are valuable but not all valuable things are monetary.
  15. There is a perfectly legitimate market for everyone.
  16. A new currency will be the last thing that happens, not the first.
  17. You can’t eat Gold
  18. Information is proportional to the rate of change of data with respect to time.
  19. Knowledge is proportional to the rate of change of information with respect to time.
  20. Innovation is proportional to the rate of change of knowledge with respect to time.
  21. Wisdom is proportional to the rate of change of innovation with respect to time.
  22. If you want to create wisdom, go increase the rate of change of innovation.  If you want to create innovation, go increase the rate of change of knowledge, etc. Now, flip over the series 15-18 above.  See, you’ll do just fine.
  23. Money represents past, present, or future productivity – otherwise nobody would work for it (think about that ).
  24. Therefore, a currency backed by debt and a currency backed by innovation would become the mother of all hedge funds.
  25. Securitization is a miracle of scale if done correctly, a disaster of scale if not
  26. Time is the only valid basis of a currency.
  27. My singular objective and greatest aspiration is to make “intangible” value tangible.  I am confident that my children – and yours – will know what to do next.
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Ideas Are The New Currency

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On December 20, 2011

In General Information

‘Tis the season for “The Year In Pictures” – the annual new year pictorial accounting of the events of the outgoing year.  Any rational collection for 2011 would include three events; Arab Spring, The Earthquake / Tsunami in Japan, and Occupy Wall Street. These three events eclipsed the Royal Wedding, Steve Jobs, the tenth anniversary of 9/11, the space shuttle retirement and even the end of the war in Iraq.

These three events tell a very interesting story of who we are and where we are going as a civilization.  

Classical economists such as David Ricardo and Adam Smith brought us the idea that a merchant class allocates land, labor, and capital in various combinations as “the factors of production” that match supply and demand for all that societies need via the invisible hand of market capitalism.

Yet, in a single hour, land, labor, and billions of units of Capital were wiped off the surface of the Earth by in Japan.   While we see the images of total destruction, there are hundreds of square miles that were untouched and where all seems quite normal – except for that invisible hand of radioactive cesium.  Land, labor, and capital failed as a an economic cornerstone for all those who had once called this land home.

In the Middle East, with few jobs and even fewer opportunities for youth, the quaint notion of “land and labor allocations” crumbled under the forces of people with mobile access to dynamic data, free information, community knowledge, innovation, and wisdom. Governments, with no relative shortage of money, were unable to challenge the opposing factors.  Again, the idea of land, labor, and capital as the economic cornerstone had failed.

Quite appropriately, Occupy Wall Street was executed on borrowed land, with borrowed labor, and borrowed capital.   The operation was peaceful so nobody died. The stock market did not even crash.  Politicians went largely unscathed and the attorneys stayed in their collective offices. Nothing physical was actually created, and therefore, nothing physical was actually destroyed.  However, a great deal was produced.

All three of these events had something in common – they all produced something very tangible.  They all produced an idea in the minds of others.

As we review the year we review it is increasingly evident that land, labor, and capital are inadequate to articulate what people actually produce.  It will be through these shortcomings of classical economics that a new economy will form.  The degree to which society actually produces the things that society actually needs, this new economy should not look much different.  The degree to which society does not actually need the things that capitalism produces, great new ideas will emerge.

What was once the land of opportunity can now become a planet of opportunity.

Photo Credit: David Shankbone via Mashable 

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Do We Really Need To Fail?

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On November 30, 2011

In General Information

Yesterday, I heard a report on NPR about the resource management department in North West Washington, in response to diminished funding – is certifying private boats for emergency duty in clean up, security, and rescue.  This is logical because nobody knows and understands the waters of Northern Puget Sound and The Strait of Juan De Fuca than the local tribes and others who ply those waters daily.

Today, I heard another report on NPR about how the City of Houston has gained far more from the demise of Enron than their existence.  Enron would recruit the top intellect in the country, move them to Houston and reward them for creativity and hard work.  The collapse of Enron released 4000 hugely talented people to the Houston Economy where many have started new businesses with remarkable success.

Vicious Circle or Virtuous circle:

I will not pass judgment beyond what these reports stated, except that there is something very valid about the “Knowledge Inventory” that exists in a community and their specific location.  The Jane Jacobs externality proposes that endowment of creative and educated people drives economic growth in a community by attracting investment and development, which attracts more smart people, etc.

Vicious Galaxies or Virtuous Galaxies

As the NPR reports suggest, the type of investment and development is dependent on the quality and quantity of knowledge assets that exist in a particular location.  Now, let’s extrapolate that to include all disciplines and talents of knowledge that exist in all communities and we encounter a stark reality that there is no knowledge inventory from which to build – except in the response to a failure such as the corrosion of government spending or in the wake of corruption and associated corporate collapse.

Yes, it is often said that adversity brings out the best in people, but is that really necessary?  Do we really need for the whole rig to collapse before we emerge from the ashes? 

We need to build the knowledge inventory today.  People need to know what people know – that is where the truth lives.   We need to know what can be built from the parts that we have in the bin.  We don’t want to try to build something from the wrong parts any more than we want to misallocate the right parts to build the wrong things.  In any industry in the world, none of these situations would pass the stink test, yet this is the state of our communities today.  We don’t even know that we don’t know what we know.  Seriously, is anyone else wondering about these things?

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Plenty of Work But Where Is The Knowledge?

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On October 21, 2011

In General Information

Millions of people are looking for Jobs.  Meanwhile, employers complain of a chronic “skills mismatch” that prevents them from hiring people or initiating new innovations.

When an engineer is laid off from an airplane manufacturer, a company like Starbucks has no idea what that person knows even though aircraft and milk steamers have a great deal in common from the perspective of the Engineer (both are pressure vessels subject to extreme environmental conditions).

The same is true for a marine engineer, and HVAC engineer, or an electrostatic coating machinery engineer.  Each of these disciplines has far more in common than they have differences.  However, if you compare the descriptions for any of these jobs, they sound like they all happen on different planets.

God forbid you are not an expert on MS Excel, which only takes a few hours for almost anyone to learn – yet not tagging that radio button can negate 20 years of experience that only 1% of people have the desire, discipline, and intellect to achieve.

The same holds true for many talents and professions. There are serious problems with the way that we discern the supply and demand for knowledge assets.

What is needed is an intermediate knowledge inventory in the commons that everyone can index to.  So when an engineer tags “pressure vessels” the term registers into the resident ontology of all observers.

Why is this better?

Of course companies are trying to eliminate variance and risk by hiring a person who has been trained by someone else – preferable a direct competitor.  On the other hand, the mantra of modern business is to innovate.  Innovation does not happen by duplicating yesterday’s ideas. Mixing diverse combinations of knowledge assets, and not all common knowledge assets, accelerates the process of Innovation.  Think of all the music that is yet to be created for lack of musicians to play the different instruments.

An intermediate knowledge inventory solves both problems by allowing companies to introduce diverse knowledge assets without introducing irrelevant knowledge assets.  It also gives people far more mobility to pursue specialties that they are most talented and interested in.  As such, the allocation of knowledge assets would improve to match supply of knowledge with the demand for knowledge in an innovation economy.

There is not a shortage or work, only a shortage of knowledge about knowledge.  

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Supply and Demand for Knowledge Assets

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On October 12, 2011

In General Information

If we follow the Wall Street accounting model, the supply and demand for knowledge assets are cast against the factors of production; land, labor, and capital.  The typical corporate human resource department looks to the community for labor units within commuting distance to a factory, and who are willing to rent their time in exchange a minimum amount of money.

But Land is Obsolete

Technology has made the idea of “land” as a factor of production almost obsolete.  Knowledge assets travel over the Internet and can be deployed and organized in many ways across long distances without a factory.  Indeed there are server farms and automation houses where things are made if needed – but these are hardly factors of production as they once were.

What exactly is a Labor unit again?

Machines have replaced much of what we once called “labor”.  I am sitting at Starbucks where a smiling robot is the only thing missing from the age of automated lattes.  The social, creative, and intellectual capital required to create, design, maintain, and serve the technology is what ushers us into the knowledge economy and the associated innovation economy.

Capital is arbitrary

Everyone knows that money is created out of thin air when someone allocates their future productivity to the bankers balance sheet in exchange for a place to sleep.  When this game loses its entertainment value, “capital” as a factor of production will also become obsolete.

The Supply and Demand for Knowledge Assets:

Knowledge assets are deployed by teachers and replicated by student.  Teachers represent the supply of knowledge and students represent the demand for knowledge.  In between these two extremes are collaborations – that is, varying combinations of teaching and learning that ultimately results in a productive outcome such as a latte, automobile, or computer program.

If we sample a population of knowledge assets across some geographic area (Land) we would expect to find something that looks like a bell curve.

If the bell curve has a different shape, this tells us what things can be made and what things cannot (Labor).

So when people allocate their own productivity, they are in effect assigning their productivity to a community balance sheet (Capital).  They are saying “this is what we are willing to make because we have the freedom, liberty, and we intion to pursue our happiness”.

Hardly a Wall Street model.

The result is that the social, creative, and intellectual assets of people must now replace Land, Labor, and Capital as factors of production in the new value economy.  Trying to produce anything less would be inefficient in a Capitalist system – perhaps some may have noticed as much lately.

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What Is An Ingenesist?

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On December 22, 2010

In General Information

Eric Rosenblith 1920-2010

I have been putting off writing this blog post until I could find a simple answer to the question “What is an Ingenesist?”.  I invented the term “Ingenesist” to capture the creative, intellectual and social nature of human ingenuity without falling back on current definitions and the silos that perpetuate them. Something has gone wrong with the world and the solution could not be found in the current world view – I needed a new word for my work.

Ingenesist comes from the Latin (ingeniare), French (ingénieur), and Spanish (ingeniero) word for Engineer.  These words, of course, were created long before an engineer was defined by such alphabet soup as BSME. MSCE, IEEE, ABET, NCEES, EIT, PE, etc…  The term ‘Ingenesist’ was meant to represent people whose ideas and actions increase the productivity of other people.

A friend of mine lost his dad yesterday.  I read the obituary and could not help but realize that this person lived through what were likely the darkest and the brightest hours of modern human civilization.  He was an artist and a teacher.

Then I hit the quote in Mr. Rosenblith’s obituary:

“We truly need to be thinkers, poets, painters, engineers, and philosophers.’’ – Eric Rosenblith

And that is how I found my simple answer.  With humility and simplicity, he captured the creative, intellectual and social nature of human ingenuity. The least I could do was finally write this blog post.

My sincere condolences to Alan and his family.  Please support the Symbionomics Project on Kickstarter

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Symbionomics And The Space Between Things

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On November 18, 2010

In General Information

Each stage of economic development in human history was derived from the prior stage by integrating the tools developed in that prior stage; The agrarian era, the scientific revolution, the industrial revolution, the information era, the knowledge economy all followed this pattern.

Whatever happens next will be extremely interesting.

Today we are rapidly emerging era of human history where there is great cause for optimism. The tools developed from the Knowledge economy are truly remarkable.  For the first time in modern history, Value is not represented by things, it is represented by the space between things.

Symbionomics

The Symbionomics project is produced by world class film maker Alan Rosenblith and visionary Sustainable Community Developer, Jay Standish.  Their objective is to reveal the next great truism in the context of human economic systems. Please watch the following trailer and please support this essential project.  The hardest secret to keep is the truth.

LandingPage from alan rosenblith on Vimeo.

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Social Value Creation: How To Manufacture Wisdom

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On October 29, 2010

In General Information

We call this wisdom

In the old days, the hiring manager was the person to know if you wanted to get a job. They would read your resume and compare it with the “bell curve” in their mind.  This bell curve contains a statistical sample of all similar situations that the manager has witnessed, the variables involved, and a range of outcomes observed across their long and illustrious career…Ohhhmmmmmm

We Call This Simulated Wisdom

Modern HR systems try to simulate this wisdom through a series of innovations such as key word search, structured interviews, personality tests, and employee incentives. Now we can use Google (an information company) to derive sort of a proxy for wisdom as we assess search results in our own image.  Facebook and Linkedin go a step further by providing us with another filter through which to pass judgement upon a future employee or partner.  The problem is that the more we look into these systems, the more they deliver back to us a reflection of ourselves…Ohhhmmmmm

Social Media vs. Normalized Intellectual, Social, and Creative Capital

The Data need to be Normalized

The world has become so strange, complex, technological, and interwoven, that no single person can possibly posses such a vast and broad set of experiences as to arrive at an optimized outcome every time.   Innovation favors strategic combination of diverse knowledge unlike the Industrial revolution which favored identical packets of similar knowledge.  The Innovation Economy will require a completely new approach to social value creation.

The Social Credit Score

Not unlike the FICO score, the knowledge inventory is a collection of potential knowledge events where the social network is a reporting agency that has a vested interest in meaningful knowledge events. Unlike FICO however, the variables for knowledge can be infinite (think of the Dewey Decimal System).  Also, a Social Credit Score would respond to positive events rather than a finite set of negative “hits”.

The Percentile Search Engine

Instead of just returning information, this new search engine must return probabilities from which an entrepreneur may test scenarios related to the likelihood of executing a particular business process at a known time, cost, proximity, ROI, etc.

Example

Innovation Economics

An entrepreneur may want to know if her team has enough knowledge to execute a business plan. Perhaps the team has too much knowledge and they should try something more valuable. Maybe the team does not have enough knowledge and they should attempt another opportunity or accumulate training.

Valuation of Knowledge  The search engine can look into a network and identify the supply and demand of a knowledge asset. If it is unavailable or too expensive, the search engine can adjust for price, risk, or options that may emerge at a later date.

Business Intelligence Organizations can scan each other’s knowledge inventory and decide to compete, cooperate, acquire, or evade.

Knowledge management If a key person retires, the entrepreneur would simulate the knowledge that is lost and reassign people strategically.

The Secret Sauce  Companies such as Disney and Boeing both use Engineers, each would have proprietary algorithm of knowledge that represents their “secret sauce” of success. These recipes can be adjusted and improved to reflect and preserve the wisdom of an organization. Over time, these algorithms will become far more valuable then the Patents and Trade Secrets created by them – this will allow technologies to be open sourced much more profitably and shared across more industries.

Eventually, we will learn to manufacture wisdom …OhhhhMmmmmGeeeee

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Death By Résumé

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On September 19, 2010

In General Information

Résumé: A French word for separating the body from the brain

We are entering a renewal in the work force. The global imperative is for the United States to become an innovation economy now. This is an entirely different animal than the Industrial revolution; I have long argued that the résumé system is by far the most archaic knowledge management “currency” of trade in use today.

The entire premise of the résumé is destitute, if not destructive, in the modern world. Words on a computer screen are a very low level ‘media form’ being used to describe a very high ‘media form’; social, creative, and intellectual capital. It’s like using crayons to design an aircraft.

If the key words are so important, why have any other words?

A manager always hires people that remind them of themselves. They estimate the future success of a candidate based on their own limited, and often static, past experiences. The world is moving so fast and has become so complex that no manager can possibly know enough to capitalize the future based on a viable statistical sample of past experiences – we’re all holding on for dear life in a hurricane of change. The problems and opportunities of the future are so huge, so important, and happening so amazingly fast yet the allocation of human resources is worse than random for a candidate pool.

Here are a few comments that I’ve picked off some recent Human Resources Community Blogs:

***

1. And our future goes with it:

“Most recruiting systems I’ve seen screen out innovators. Any résumé that is unique, different or convention-defying gets surreptitiously put in the junk pile.”

2. Start by looking in the junk pile:

“The Innovation Economy requires that the talent that creates the most value for an organization must rise to the top. Innovators are playing an increasing role in creating shareholder value – one might argue that they create the most shareholder value these days – and figuring out how to find and attract this very different breed of talent is one of the most critical initiatives you can launch within your organization.”

3. What part of “share holder value” are we having difficulty with?

“The most innovative people I have ever met don’t follow conventions in their experience or in their résumé. Or, they get bored very quickly when they can’t innovate or are forced to focus on operations, and efficiency. Most might look like (and even be) job hoppers”

4. Here is my favorite comment – I wish I could hug this person:

“I think it takes more than a résumé to screen an Innovator in or out. As blogs, blog posts, social networking, more powerful search tools, personal websites, the emergence of video on the web, talent platforms that offer CRM, etc. etc. etc. continue to become additional tools for an employer to consider in making a hiring decision, is the résumé still a currency for a candidate?”

***

We have an inventory and CAD model of every nut, rivet, and panel that goes on an airplane – why would we try to build anything without one?

So Please, let’s evolve out of the revolutionary times and develop a real community knowledge inventory. It must be computer enabled and based on a taxonomy that everyone knows and understands. It must be read, analyzed, sorted and vetted by social networks and communities of practice. It must integrate with knowledge assets from anywhere in the world.

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Social Capitalism And The ROI For Social Media

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On September 9, 2010

In General Information

Social Capitalism can be summed up as Classical Capitalism except with the factors of production swapped from “Land, Labor, Financial Capital” to “Social Capital, Creative Capital, and Intellectual Capital”.

This video introduces a new way of looking at social media valuation. It should be obvious by now that people create value in social media – otherwise they would not do it. The monetization paradox is stuck on “how can this value expressed as a financial instrument”?

If you engage your clients in the same currency that they are trading among themselves, the greater the likelihood you will realize the value of the new media phenomenon.

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What’s Your Cut of the $5 Trillion Knowledge Economy?

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On September 3, 2010

In General Information

People accumulate a wealth of knowledge in their lives as they pass from project to project and industry to industry.  Each of our social, creative, and intellectual pursuits and exposures combines to form the person who we are and the contribution to society that we represent.

Your knowledge and experience also helps others predict what preferences you may have and what decisions you may make. Corporations, advertisers, banks, insurance companies, and politicians all want to know this and they will go to extreme and expensive measures to get it – why not just sell it to them?

Peace sells, but who’s buying?

Management of companies, little league teams, Rotary Clubs, even raising a family, is extremely valuable knowledge to a wide variety of situations. Civic service, spirituality, military service, and philanthropy provide a basis for a host of knowledge attributes.  Academic accomplishment, physical achievement, artistic expression, manual dexterity, and whole body coordination provides great insight to the application of all knowledge.  Physical challenges, grief, personal struggles, and the experience of injustice further add to the wealth of knowledge one accumulates in a lifetime.

Every person is unique with a different set of knowledge than any other; therefore, everyone has something to offer to someone else.   Each person’s combination of formal and informal education is valuable in it’s uniqueness.  With the proper system and incentives in place, trillions of dollars are on the table to bid for access to your knowledge.

The Den of Thieves:

The resumes that we post on Monster.com are woefully inadequate and so heavily gamed that predictive utility related to your future decisions and innovative capacity is severely compromised.

The credit score also measures past behavior by tracking negative events; many of which are outside the control of the subject such as a layoff, fraud, medical emergencies, etc.  Again, the credit score is quite useless as a predictor of future decisions and innovative capacity.

Now we have Social Media and the mad scramble to be visible in social media space.  The scourge of marketers, spammers, and fraudsters are close behind chasing your information that they are all too happy to sell to the aforementioned “clients”.

Take a Step Back … and get a grip

We are talking about your information that describes your knowledge attributes which predicts your preferences, your future decisions, and your innovation.  Yet complete industries exist to collect it from you for free, organize it, and sell it to others for a great deal of money.  There are 5000 job boards collecting resumes, 300 Million credit scores being securitized by Wall Street, and 12,000 social media sites aggregating your creative content, relationships, and knowledge attributes.

Join The Ingenesist Project:

The Ingenesist Project specifies a system where your knowledge attributes are expressed in a packet of code that you control, distribute, regulate, withhold and track as you wish.

The result is that you will be paid to learn, to know, to practice, and to participate in life as you wish.  It becomes in your best economic interest to produce exactly what you are best at, and have a talent for producing.  It will be in the best interest of corporations, marketers, Wall Street, insurance companies, and Politicians to support you in these pursuits so they can “farm” the knowledge today that will buy their products tomorrow.

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Social Capitalism: Meet The New Intangibles

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On July 26, 2010

In General Information

Today, land, labor, and capital make up the “Tangible” assets allocated by entrepreneurs in the production of all products and service.   Meanwhile, Social Capital, Creative Capital, and Intellectual Capital of people and communities are called “Intangible Assets” on the corporate balance sheet.

As soon as you leave the Corporation, this condition reverses.  What if the new generation of corporations were built on this reversal?

Suppose it is already happening.

The next economic paradigm will be built on Social Media as soon as people start getting together to build things.  Social Capital, Creative Capital and intellectual capital will be allocated by entrepreneurs in the production of all products and services.  Meanwhile land, labor, and capital will be the intangible assets.

This may not be so far out.

LAND: with Social media, Mobile internet, geolocation applications, mobile applications, and speed blogging – most activity is independent of physical land.  Instead, Public “land” or private “land” behave as the intangible component where people assemble and produce things.

LABOR: no longer means that two physical parts are assembled into a machine.  Instead two ideas are assembled into a third idea and redeployed as data, information, knowledge, innovation or wisdom.

CAPITAL: Seriously; what exactly is Capital these days except the thing that banks play with and politicians argue about? Capital is created from debt.  The continuation of Capital Markets as we know them exists more as the absence of a reasonable alternative than an actual proxy for true value or productivity.

Instead; 500 Million people flock to Facebook, Twitter, Google, Linkedin, Foursquare, Gowalla, etc., to collect options and store social value.  Uhm…Why?

The next phase for social media will become user generated productivity.  That is when people get together outside the construct of government and corporations to build something.  If we are lucky, this transition will happen before we are forced to “rebuild” something.

***

The Ingenesist Project specifies an Innovation Economy built on a platform of social media as the next economic paradigm.  Material based on video series here

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What is Social Capitalism?

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On July 19, 2010

In General Information

July 8, 2014 Update:

Wikipedia defines Capitalism as an “economic and social system in which the means of production are privately controlled”. 

 Factors of Production (from classical economics) are presumed to be some proxy for land, labor, and capital.  Suppose, however, the factors of production for modern society were something like “Social Capital, Intellectual Capital, and Creative Capital” of people and their relationships?  After all, these are the assets that are deployed in order to produce the proverbial basket of goods upon which most currencies are compared. 

Since these factors of production exist between the ears of each individual person, they are, by definition “privately controlled” and readily exchanged among other people in social networks.   If the US Supreme Court can rule that Corporations are people, then it is equally valid that people are corporations. Therefore, Social Capitalism refers to the economic and social system in which the means of production are social, creative, and intellectual assets.  

In order for Social Capitalism to become the dominant form of social organization, quite literally, society must reorganize itself to trade “abundant intangibles instead of scarce tangibles”. Then, all the decentralized innovations can integrate. The following video describes a system for reorganizing society so that the new economic paradigm; called Social Capitalism, may emerge.

Reorganizing For The Era Of Social Capitalism

Social Capitalism is similar to Material Capitalism with the exception that society would trade in abundant intangibles instead of scarce tangibles….and, everything changes.

***

The Article below is from 2010 – more than 4 years ago – when Social Capitalism was just beginning to enter the lexicon of the social media practitioners.  This article below quotes the Wikipedia Article on “Social Capitalism”.  That article has since been removed by Wikipedia for failure to be a real -ism; I suppose.  That is, Wikipedia does not yet recognize the movement as a real form of Social Organization.  It is interesting, if not historic, to watch the progress of a social movement from its tenuous inception:

The Adaptive Cycle: Holling, C. S. 1986. Resilience of ecosystems;

Social capitalism is an old idea taking on an new form in the age of social media where social capital, creative capital, and intellectual capital are deployed outside the construct of the prevailing corporations or governments.

Throughout human history, societies have reorganized themselves in response to tyranny, innovation, environment, new wisdom, etc.   I believe this to be the root of what Social Capitalism is, and therefore, how it should be defined.

In The Shadows:

The dominant definition of  “Social Capitalism” from Wikipedia reflects a social cause cast against the backdrop of market capitalism.  This definition acknowledges that economies work better when everyone participates; specifically, the so-called tier 1 and tier 2 people.  Tier 1 individuals have steady financial incomes that allow them to function without private or government support. Tier 2 individuals cannot meet the prevailing standard of living and rely on private or government support. Therefore the prevailing definition of Social Capitalism often refers to efforts to bolster tier 2 persons as a means of reinforcing the economy for everyone.

Conflict:

There is an inherent conflict where tier 1 is held responsible to support tier 2 as a means of protecting their tier 1 status. Traditionally tier 2 included poor families dependent on food stamps; children who depend on public education; elderly people who are no longer able to work, and low-income criminals who require police intervention, etc.

Ideally, getting more people from tier 2 into tier 1 is the desirable objective.  Indeed political division is marked by the theories and practices on how exactly that objective would best be accomplished.

A worst case:

What happens when tier 2 is simply forgotten; they are simply allowed to fail in the mainstream economy?  What if the government becomes too weak to bolster their economic prospects?  What happens when a critical mass of tier 1 people involuntarily enter the tier 2 environment bringing along their substantial knowledge inventory.  They are otherwise very productive people that had been laid-off, outsourced, underemployed, or otherwise marginalized.

The Special Case:

What happens when Tier 2 deploy new technologies that responding to their priorities, not necessarily Wall Street priorities.  What happens when tier 2 people trade a social “currency” among themselves? What happens when tier 2 swells to a size and scope that they are able to bear broad political and economic influence.  Many great human struggles emerged from under the hand of a Tier 1 constraint using their own manner to store and exchange value  (currency) represented by their own knowledge inventory and productivity.  Why would that not happen internally in American Society?

Structural Capitalism:

Social Capitalism is where factors of production in an economy are purely human and technological and less structural:. Specifically, social capital, creative capital, and intellectual capital deployed outside the construct of the prevailing corporations or governments.  Maybe it should be called “structural capitalism” because that is what is actually changing. We are at an extraordinary time in history where an extraordinary structural reorganization is taking place.

That’s Social Capitalism as it’s always been.

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Independence Is A State of Mind

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On July 4, 2010

In General Information

Independence is a state of mind. Americans have always chosen independence – and they will continue to do so. It is often convenient to let ourselves trust elected leaders and the esteemed business titans to do what is in our best interest. Don’t be fooled, this is “trust”, not dependence.

It is likewise unwise to underestimate the independence movement – independence from corrupt currency, independence from fossil fuel, independence from corporate greed, independence from divisive politics, independence from endless war. Just when everyone thinks that Americans are up against the ropes, they come up with an idea so radical, so creative, and so astonishingly consciousness-altering, the rest of the world just shakes their heads in collective disbelief.

That is where we are today. Something extraordinary is about to happen in the way Americans organize themselves. Nothing is sacred, no one is immune. The next economic paradigm will alter the course of civilization.

All stages of human development were derived from the prior stage of human development by integrating the tools of that prior stage. For example, the agrarians integrated the tools of the hunter-gather such as using the chopping rock to till a field for planting – and so forth. Likewise, the industrial revolution integrated the tools of the scientific revolution; mathematics, chemistry, and engineering. Earlier this century, the computer age integrated the tools of the industrial revolution, etc.

The next economic paradigm will be derived from the Knowledge economy by integrating the tools of the knowledge economy; these are The Internet, Social Media, mobile communications technology, etc…

Americans will chose Independence every time.

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Engineers Are Money

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On April 3, 2010

In General Information

Engineers are money.

China and India are producing millions of engineers as part of their global economic dominance strategy. Engineers increase productivity and productivity creates wealth. Why? Because money is only a means for storage and exchange of value and engineers create the value.

America has no idea who the engineers are

I heard an interesting comment on a group discussion board recently; “there are so many engineers on the streets that employers have their pick of the crop”.

First, I find the reference to “crops” ironic. Second, why should engineers need to fit every nuance of a job description? Engineers tell us the things that we don’t already know – who exactly writes those job descriptions if they know what they don’t know? Or in practical terms, why isn’t an Aerospace Engineer immediately qualified to be an Energy Engineer?

The Ingenesist Project identifies 3 types of knowledge assets: Social Capital refers to one’s ability to organize, perform, and manage themselves in teams of other people. Creative Capital refers to the ability to relate seemingly unrelated concepts, objects, and perceptions into new and innovative ideas. Intellectual capital refers to the ability to deploy book learning, objective reasoning, and tactical experience toward specific objectives.

Everyone has ALL of the above asset categories, however, we each posses them in different proportions. People like Steve Jobs have all of these in very high quantities, but the rest of us are somewhere in the middle. Most have a surplus in one or two at the expense of the remaining asset categories. Engineers typically enjoy a surplus of intellectual and creative capital at the expense of social capital.

Social Capital

Should we, as a society, expect engineers to meet meet the same social standards as say, Baristas? The job market favors the young, socially adept, and politically wired people. But engineers are a different – we all need them to be exactly the way they are in order for the rest of us to be who we are. If engineers were “marketers” they would either cease to be engineers or marketing would cease to be manipulative.

Who’s your money maker?

Engineers are responsible for nearly every penny of value stored and exchanged in a modern economy. Roads, infrastructure, medical devices, food production, software, hardware, housing, transportation – anything worth anything is in some way touched by God and an engineer. Engineers are responsible for creating the tangible value we enjoy so dearly but is also so easily corrupted by others.

Who is squandering whom?

So when I hear comments like; “there are so many engineers on the streets that employers have their pick of the crop”. I ask myself, “how exactly did that employer become an employer without engineers”? How does any employer expect to remain an employer without the direct, strategic, and honorable deployment of engineering assets? How does a country expect to arise from financial crisis and insurmountable debt obligation without elevating their engineers to “First-Responder” status?

I heard a story that Haiti is so poor, they would chop down a fruit tree for charcoal. Squandering engineers is like killing the golden goose. Every single engineer in America should be cherished. Every single engineer should have their pick of most qualified employers, not the other way around. Every single engineer should have a job waiting for them as soon as the prior one is finished. Engineers should be paid money, real money – not some “proxy” for money.

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Video: Intellectual Property in the Social Media Cloud

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On February 3, 2010

In General Information

The Patent system is slow, static, and expensive. Sure it’s great for corporations and wealthy institutions, but what about the rest of us? How do we get paid for our intellectual property? We make rapid fire decisions every day that can make or break markets – who’s got time to patent?

Or maybe the last thing that Wall Street wants is for Engineers, Architects, designers, and creative people to get “royalties” on their work. That is What Wall Street does, they collect the royalties of the creative people in America….until now. Social media is a social contract, IP is our currency.

Image credit

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Video: Taxonomy for Community Knowledge Inventory

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On February 1, 2010

In General Information

Any taxonomy that is used to classify information is a candidate for the classification of knowledge. This is because knowledge is related to information in a differential equation that also includes data and innovation (another blog post).

The trick is that everyone needs to be using the same taxonomy so that we can all access knowledge inventories of the people around us as easily as it is to access books on Amazon.com. This will lead to a trade in knowledge assets formally the sole domain of corporations through the process of industrialization (yet another blog post) .

Please enjoy these videos, use them as you wish and let us know what you think.

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Where is The Knowledge Inventory?

By

On January 30, 2010

In General Information

There 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

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Pssst … Wanna Get Wasted?

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On January 16, 2010

In General Information

Many Social Media Gurus are espousing a new culture that their clients should forget about blogging (adding meaningful content) in favor of the ubiquitous widespread “updates”.

Using automated apps, you no longer need to waste time creating content that teaches or expresses, you can populate across social media space carefully wedged in between someone else’s creative content. I find this appalling.

The new marketing mantras go something like these:

  • “Go where your customers congregate”.
  • “Gain their trust by sharing your stuff”
  • “Soon, you can start to influence their behavior”
  • “Once hooked, they will do your deed for freeeee!!”

This is starting to sound more like the neighborhood drug dealer than any sustainable economic paradigm.

Slavery on Steroids

Slavery is a term characterized in part by the coercion of another person to perform or act without compensation. The effects of slavery are not only physical, but mental as well.  The effects of oppression manifest themselves in addictive behaviors.

Social acceptance is an extremely powerful psychotic that can be cleverly turned against any person. The techniques of social media are getting increasingly sophisticated in hijacking and consuming the social capital of others.

Green Marketing

It does not take long to see that the marketing professions are defining the social media space regardless of what anyone says about user-generated content.  The danger is that social media will become just as unsustainable as the economy that it replaces.  People will soon lose the ability to produce the currency that the media demands to support itself.

Ban advertising

t would be high temple sacrilege for any social media monetization strategist to suggest that advertising of any kind must be banned.  Well, not exactly, but the objective of advertising can be redefined if there were a means to do so.

The only sustainable monetization strategy (of which there are terribly few current examples) are the deployment of social media applications that empower people to discover their own individual talents, to pursue what they are naturally best at and enjoy doing most – while also eliminating the clutter and irrelevant messages that distracts them from their personal life goals.

This means that brands should communicate more and not less.  They should identify, educate, and promote the talents and abilities of a million customers instead of 1 superstar athlete or celebrity.

The proverbial sports analogy:

Advertisers should sit in the bleachers and cheer on their favorite customer, but they should not be in the game, blowing the whistle, or running the scoreboard.  Let them pay admission, see my logo, and buy my overpriced beer.  Let them sell to each other on their own dime – but under no circumstances should they be allowed on the field, in the schools, or in the home without explicit and expressed permission of the customer.

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The Monetization Mystery

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On January 14, 2010

In General Information

OK, the social media buzz is getting a little stale folks.

  • Yes we know that social media is valuable.
  • Yes we know that lots of folks are doing it.
  • Yes we know that the predictive web is predicted.
  • Yes we all know that all this activity will mysteriously “monetize”

Show me how everyone is related and I’ll show you a new economic paradigm. Here is how they are not related:

  • They are not related by “earning” people’s trust today so you can shove your product down their throat tomorrow.
  • They are not related to collecting thumbnails.
  • They are not related to giving the g00gle alg00rithm an 00rgasm.
  • They are not related by “The 6 Steps to [Fill in The Gap]”.

The next economic paradigm is related to transformation.

  • People transform data into information
  • People transform information into knowledge
  • People transform knowledge into innovation
  • People transform innovation into data

Under a set of fundamental assumptions that:

  • All people are socially talented
  • All people are intellectually talented
  • All people are creatively talented
  • All people are good at something
  • Nobody is good at everything

This is how value is generated. This is where the mystery of monetization hides.

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