Snip from a Harvard Business blog post by Umair Haque on the digital-age business lessons to be learned from Michael Jackson's death, and analysis of the purported revenue from his career over the last three decades:
Want to know why we have a zombieconomy? Because the beancounters killed the incentives to create real value.
Michael Jackson and the Zombieconomy
Let's use MJ's tragic death as a mini case-study. $300 million over, for example, 25 years? That's $12 million a year.
I'm deliberately leaving out ads, endorsements, concerts, etc., to focus on the the structural problems in one industry: music.
If the world's biggest pop star only made $12 million a year from his recordings, why would anyone make serious music? Where did the rest of the money go? Why, straight into record labels' pockets. Did they make better music with it? Nope — they made Britney and Lady GaGa. And that's how they killed themselves: by underinvesting in quality, to rake in the take.
Wait a second — that sounds familiar. You can add back in the endorsements, etc. now — they only double the figure: to about $25 million.
If the world's biggest pop star only made $25 million a year in total, something's very, very wrong. Where's the rest of the money? Why can't a resource as scarce as the King of Pop capture more value?
(via Bob Lefsetz)
California governor Jerry Brown today approved a mandatory minimum wage of $15 an hour by 2022. The bill’s enactment came within hours of a similar bill signing in New York by governor Andrew Cuomo.
Nobel Prize-winning economist Joseph Stiglitz says the Trans-Pacific Partnership, or TPP, could be the worst trade agreement ever negotiated in history. In an interview with CBC News, he recommended that the government of Canada insist on reworking it.
Last week, Boing Boing pals Douglas Rushkoff, author of Throwing Rocks at the Google Bus, and Marina Gorbis, executive director at Institute for the Future (where I’m a researcher), took the stage at San Francisco’s Commonwealth Club to discuss why we’ve lost sight of the open Web and how the digital economy has gone terribly […]
White hat hackers get paid to find holes in their own employers’ online systems, and plug those holes before they become serious security risks. It’s a job that pays handsomely…mostly because few job candidates, even experienced IT professionals, have the skills to scamper over firewalls and infiltrate the deepest recesses of a battle-tested network. But […]
Why buy one of those expensive and confusing universal remotes, clogged with enough buttons to launch a space shuttle, when you could accomplish the same electronic control right on your favorite mobile device? The Blumoo Universal Remote, now just $52.99 in the Boing Boing Store, harnesses the audio power of all your household equipment right […]
You may not love Microsoft Word, but you’ve definitely used it. Other than being one of the most ubiquitous programs on the planet, it’s been the go-to word processing system for more than a quarter-century because it’s as basic as it gets. But occasionally, you’ve got assignments that beg for a lot more options than simple […]