What if that’s not how things work?

From an Ezra Klein interview with Chrystia Freeland, editor of Thomson Reuters Digital and author of “The Plutocrats: The Rise of the New Global Super Rich and the Fall of Everyone Else.” The Q&A was packed with interesting insights. Take a moment to read the full piece at the link above.

“Yes, the people with merit and inventiveness should be at the top, but we want the natural outcome to be harmonious. And the scary thing is, what if that’s just not how the economy will work for the next 20 or 30 years? What if even if we get education and economic policy and all the rest of it right, that we’re not there? Do you say, okay, the way it’s working now is not consistent with how we imagine this democracy should work and therefore we believe the rich should be taxed more aggressively to support the middle class? That’s a very different way of thinking about the economy and the social contract. And after Romney’s loss, the scary thing for the super-rich becomes actually maybe they’re not going to be the ones to decide.”

“If you’ve developed an ideology that what’s good for you personally also happens to be good for everyone else, that’s quite wonderful because there’s no moral tension.”

“I’ve heard from people who worked in the White House that (Obama) doesn’t like rich people. I don’t actually think it’s true. I think he has a kind of Harvard Law School sense of kinship with these guys. He’s a member of the same technocratic elite. He could have taken that path. He has an admiration for those skills. But what he doesn’t have at all is a belief that the pure fact of having made a lot of money makes your views more valuable, or makes you more interesting or smarter than anyone else.”

Scott Adams: Qualities of a CEO

“Suppose you put the following proposition to two talented young people: You can be a CEO someday, but the price is that you will have two failed marriages and you will barely know your own kids. You will fire dozens or even hundreds of people over your lifetime. Your success will come at the direct expense of others. And your pay will have more to do with your weasel skills at manipulating the board of directors than the long term health of the company. You will move several times, to the distress of your family and friends. On the plus side, you will be rich and respected.”

“What kind of young person takes that deal? Is it the person with good mental health who wants a life of balance and meaning, or is it the risk-taking, narcissistic sociopath?”

Scott Adams: Corporate Culture and Success

“Company culture is another area that I think the experts get backwards. The common belief is that you need a good company culture to create success. But isn’t it more likely that companies with awesome employees get both a good culture and success at the same time? A good corporate culture is a byproduct of doing everything right; it’s not the cause of success as much as the outcome. Success improves culture more than a good culture can cause success.”

“Your hands are not made to type memos”

“Technology, outsourcing, a growing temp staffing industry, productivity efficiencies, have all replaced the middle class. The working class. Most jobs that existed 20 years ago aren’t needed now. Maybe they never were needed. The entire first decade of this century was spent with CEOs in their Park Avenue clubs crying through their cigars, “how are we going to fire all this dead weight?” 2008 finally gave them the chance.”

“Your hands are not made to type out memos. Or put paper through fax machines. Or hold a phone up while you talk to people you dislike. A hundred years from now your hands will rot like dust in your grave. You have to make wonderful use of those hands now.”

From an article on TechCrunch

What if you don’t want to be a manager?

From a post by Anne Kreamer at HBR.org. It’s probably just my own heightened awareness, but a bunch of really timely articles have found their way to me in recent weeks.

“Companies continue to cling to the notion that one of the only mechanisms they have to acknowledge employees’ talent is to make them managers and then to continue to promote them into ever-higher levels of management — reflecting the misguided assumption that being good at something also means being able to (and wanting to) manage others doing the same thing.”

“As corporate executive I felt like I had to pretend to be something I wasn’t — I didn’t like being a manager, but I was a manager, so I had to appear to be interested in all the stuff that went along with being a manager. This is something social scientists call “emotion labor” — what you experience when you feel obliged to act differently from your natural inclinations.”

Advertising loses in a mudslide

Media observer Bob Garfield on what we learned about advertising from the recent campaigns:

“Nothing that comes out of the mouth of a brand or any other institution has remotely the influence of what comes from the mouths of 7 billion bystanders freely trading opinions online.”

“What matters is what the public has to say about you — based on who the public believes you really are. … If people don’t like you, they are no longer eager to do business with you. And in a socially mediated world, not to mention a world of enforced transparency wherein your every move is searchable on Google in perpetuity, you can no longer advertise your way into their wallets, much less their hearts.”

“We are now and forevermore in the Relationship Era. What the GOP proved, and what all marketers must at long last internalize, is that you can’t advertise yourself out of a bad relationship.”

Mr. Garfield’s full post »

“Careers Are Dead”

“There’s mounting evidence that the American labor market may never return to its pre-recession composition. The future is already here and it brings with it low-wage temporary or contract work as a way of life.

“According to the Economic Policy Institute, almost 30% of American workers are expected to hold low-wage jobs – defined as earnings at or below the poverty line to support a family of four – in 2020. This number will remain virtually unchanged from 2010.”

Forbes

Race Against The Machine

Race Against the Machine: How the Digital Revolution is Accelerating Innovation, Driving Productivity, and Irreversibly Transforming Employment and the Economy, by Erik Brynjolfsson

“Terry Gou, the founder and chairman of the electronics manufacturer Foxconn, announced this year a plan to purchase 1 million robots over the next three years to replace much of his workforce. The robots will mke over routine jobs like spraying paint, welding, and basic assembly. Foxconn currently has 10,000 robots, with 300,000 expected to be in place by next year.”

“If technology exists for a single seller to cheaply replicate his or her services, then the top-quality provider can capture most—or all—of the market. The next-best provider might be almost as good yet get only a tiny fraction of the revenue.”

“…the top 0.01% of households in the United States—that is, the 14,588 families with income above $11,477,000 — saw their share of national income double from 3% to 6% between 1995 and 2007.”

“About 90% of Americans worked in agriculture in 1800; by 1900 it was 41%, and by 2000 it was just 2%.”

“The Choose Yourself Era”

James Altucher makes and amusing (and credible?) case for why you should quite your job right now. Here are a few nuggets from his piece:

“In 2009 I asked about 10 Fortune 500 CEOs, “did you just use this crisis as an excuse to fire all the people you were afraid to fire before.” Only one said “of course” instantly. The others had to drink more. But then it was admitted: you’re all dead weight and there’s no loyalty.

“We’ve entered the “Choose Yourself” era. The era without middlemen. Without The Other telling you your bonus, your salary, your movie can be made, your book published, your company funded, your life validated. The era where you have to always be planning your escape. Where you create your platforms on twitter, facebook, quora, pinterest, blogging, vlogging, itunes, and wherever else and every day you Create and you Innovate and you Sell for yourself. You Eat what you Kill. And your rewards are commensurate with how sharp your teeth are.”

“(Your job) was an addiction. And the fix is gone. Your job was never safe. And it’s less safe now than it was yesterday. A billion people in China need a job and they are gunning for your cubicle.”

“Look around. Are these the people (your coworkers) you were meant to spend the rest of your life with. You will spend more time with them then you will spend with your children.”

The Intention Economy

The Intention Economy: When Customers Take Charge by Doc Searls

I’m only about one-third of the way into the book but finding no shortage of notable and quotable nuggets. In no particular order:

“Likewise, rather than guessing what might get the attention of consumers —or what might “drive” them like cattle—vendors will respond to actual intentions of customers. Once customers’ expressions of intent become abundant and clear, the range of economic interplay between supply and demand will widen, and its sum will increase. The result we will call the Intention Economy.”

“This new economy will outperform the Attention Economy that has shaped marketing and sales since the dawn of advertising. Customer intentions, well expressed and understood, will improve marketing and sales, because both will work with better information, and both will be spared the cost and effort wasted on guesses about what customers might want, flooding media with messages that miss their marks. Advertising will also improve.”

“The volume, variety, and relevance of information coming from customers in the Intention Economy will strip the gears of systems built for controlling customer behavior or for limiting customer input. The quality of that information will also obsolete or repurpose the guesswork mills of marketing, fed by crumb trails of data shed by customers’ mobile gear and Web browsers. “Mining” of customer data will still be useful to vendors, though less so than intention-based data provided directly by customers.” — Page 2

“It’s an eyeball bubble. Investments in tracking-based advertising assume impossibly high values for customers attention.” — Pg 41

“Now imagine you’re back in 1982. Somebody tells you that in twelve years, the world will adopt a new communications system that nobody owns, everybody can use, and anybody can improve. The system will be all-digita and will provide ways for anybody ro communicate with anybody, anywhere in the world, and to copy and share anything that can be digitized—including mail, print publications, music, radio streams, TV programs, and movies at costs that approach zero. Would you believe it?” — Page 94

“Like the universe, there are no other examples of it (the Internet), and all our understandings of it are incomplete.” – pg 96

“To become totally personal, advertising needs to cross an existential bridge, to become a different corporate function. It must become sales – without the human sound or the human touch.” — pg 41

“We can’t ignore the huge numbers of people who live within our on the shores of the fast money river that flows through advertising, especially online. And it won’t stop until the bubble pops.” -pg 39

It’s easy to forget that the term branding was borrowed from the cattle industry. The idea was to burn the name of a company or product on to the brains of potential customers.”

“In the United States, the typical hour-long American TV drama runs forty-two minutes. The remaining eighteen minutes are for advertising. Half-hour shows are twenty-one minutes long, with nine left for advertising. That’s 30 percent in each case. The European Union sets a limit of twelve minutes per hour for advertising on TV, which comes to 20 percent. Ireland holds broadcasters to ten minutes per hour, or 16.7 percent.”