shares a new essay, below, about the current economic crisis:
Accounting methods really haven't been updated to keep up with the changes as service and information economy overlays have changed the game. We have no way to account for our greatest assets in the modern economy -- talent, staff loyalty, team productivity in innovation, effective communication of information through media and business channels, and so on. These are all without accounting value in our current systems.
Iconoclasm: Wall Street -- the chickens come home to roost
Today, value is added by shifting assets through complex smoke-and-mirror complexities in the financial markets. Or, value is created by applying talent (our largest intangible) stabilized by loyalty and passion to task (our least quantified intangibles, and the root of real innovation and productivity) in the information economy.
Tangible industries -- heavy industries, retail,... -- have been transformed by supply chain innovations, but even globalized, are well enough understood.
But a huge amount of the wealth creation since the invention of the transistor is intangible, and since we have no way to quantify and account for innovation, creativity, excellent records of technical teams, and so on, the market has tried to find tricks to value them, mostly through the stocks of information economy firms.
Since so few people really understand tech, PR, marketing and flim-flam have become the greatest influence on the value of any technical or informationally complex company.
I asked Amy Parness, the co-founder of Sparkle Labs, maker of fantastic educational electronics kits, to write a Medium post about gender and the business of being a maker business person. Her terrific essay calls out the problems with “pink girly engineering kits.” From Medium:
Zero UI is the new term for “invisible interfaces”—what happens in the future when all the clicking and tapping and typing is history: “If you look at the history of computing, starting with the jacquard loom in 1801, humans have always had to interact with machines in a really abstract, complex way.” [Fast Company]
CEO Dick Costolo will resign, to be replaced in the interim by Jack Dorsey
The Lytro Illum dares to be different, boasting even more robust features than its first generation predecessor and a sleek design reminiscent of professional DSLRs. What’s so cool about it? Most cameras capture the position of light rays, producing a statoc 2D image.
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