Group items tagged

Increased levels of connectivity are rendering economic rules obsolete.

Will the evolution of the internet reduce or increase cognitive inequality? The answer may not be so straightforward. 

"Along with the rise of the connected consumer - a subject that has no shortage of consultants, writers and public speakers ready to tell your company what to do - shouldn't we also be thinking of the rise of empowered employee, the people in the most advantageous position today and tomorrow to fill those job shortages? "

"If you're a smart Ph.D from MIT, you'd never go to Wall Street now," one hedge fund executive told the magazine. "You'd go to Silicon Valley. There's at least a propsect for a huge gain. You'd have the potential to be the next Mark Zuckerberg. It looks like he has a lot more fun."

'We're in the middle of a revolution caused by the near collapse of free-market capitalism combined with an upswing in technical innovation, a surge in desire for individual freedom and a change in consciousness about what freedom means.'

The Chicago Fed examines the evidence and says: we find limited evidence of skills mismatch They do find a few places where a mismatch might be present, but this is not the problem in most sectors (it's lack of demand). [via David Wessel]

Over the last year I've reviewed several ~1900 era future dystopias, such as Metropolis, We, and Pictures of the Socialist Future. I wanted to see fears of the industrial revolution, from an era when that revolution was still young enough for people could see things from a farmer era point of view, and yet old enough that people had some idea of where the revolution was going.

"n a recent Wall Street Journal interview about college costs and online learning, Stanford University President John Hennessy said, "What I told my colleagues is there's a tsunami coming. I can't tell you exactly how it's going to break, but my goal is to try to surf it, not to just stand there." "

For advanced economies, such imbalances would likely lead to more long- term and permanent joblessness. More young people without post-secondary training would fail to get a start in the job market and older workers would drop out because they don't qualify for jobs that are being created. The polarization of incomes between high- and low-skill workers could become even more pronounced, slowing the advance in national living standards, and increasing public-sector burdens and social tensions. In some advanced economies, less-skilled workers could very well grow up poorer than their parents, in real terms.

"Britain plans to make it easier for technology firms to list their shares in London, the government said on Thursday, in an attempt to stem the flow of high-growth companies heading across the Atlantic in search of capital." Interesting. Countries in a competition to keep their tech wizards at home. But how important are stock markets for innovation? And nation-states? Don't think too fast stocks and nation-states are something of the past... 

"The Eurobarometer poll shows that a surprising 70% of Europeans have a "fairly positive" or "very positive" view of robots. This is great news for human-robot relations." Fascinating. As the post explains, only 6 procent of Europeans ever used a robot. But then again, maybe it's about time to discuss robotics in society at large? 

"Is there a new political philosophy emerging from things like open source software development; massive community sharing hubs like Wikipedia, Kickstarter, and Reddit; peer-to-peer social networking; experiments in "Liquid Democracy," and the rapid spread of resource sharing tools like ZipCar, AirBnb and Car2go? Is it time to start talking about replacing the "welfare state" with the "partner state"? On Monday September 24 at 7:30pm at the New York Law School, we're looking forward to exploring all those questions and more with noted author Steven Johnson, whose new book Future, Perfect is must-reading for people who believe in the power of open, collaborative peer-to-peer networking to achieve real social progress."

"The upshot of all this is that it's not going to take much to procure a drone and do anything you want with it. And if you try to outlaw them, then, well, only the outlaws (and government) will have drones." Exactly. 

"As technology evolves to make the office more obsolete, it's going to result in massive changes--and massive opportunities." But the process is sometimes painstakingly slow, as it conflicts with traditions, the desire for 'real face time' and office politics. 

"The idea is to design more realistic virtual characters, which, in turn, should make video games more compelling and software simulations used for training more useful. In the future, the software could drive physical robots capable of navigating the real world in a human-like manner." Okay, the bots are not 'really' intelligent and language is much harder to crack. But still, it's a nice result, this  human thinks.  

"Everyone there was a "Quant." No one cared what the underlying company represented by a given stock actually did. Apple or General Motors, CAT or IBM… Everything boiled down to a set of statistical observations that, when assembled into the proper algorithm, delivered a portfolio that beats the market." I just love the title of that conference: Alpha Generation - Using News Sentiment Data