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Podcast: The Future of US Innovation and Rise of Producerism

By On · Leave a Comment · In Economy and Jobs, Econovation, Entrepreneurship, Innovation, Podcast

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I had a great conversation with Yifat Cohen about what I see happening in the global economy, the future of American Innovation and what you can do about it.  It’s the first time I’ve spoken in such detail about some of the core ideas in my book, Econovation.  Get ready for the end of consumerism and rise of what I call ‘producerism’. You can watch the video or listen to the audio podcast.

You can follow Yifat on Google+ and her YouTube channel.

Don’t forget to subscribe to the IdeaFaktory podcast here.

Next week, I’ll have a fun guest – the author of Social Media is Bullshit, BJ Mendelson.

 

 

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Steve Faktor on Finding Fulfillment in the Digital Workplace (CMS Wire Interview)

By On · Leave a Comment · In Culture, Economy and Jobs, Econovation, Psychology, Social Media, Technology, Trends

An interview I did with CMS Wire:  Steve Faktor on Finding Fulfillment in the Digital Workplace.

By  (@blakelandau)   Jan 21, 2013

Steve Faktor is the author of Econovation and the Harvard Business Review article “Happiness Will Not Be Downloaded.” Faktor is an entrepreneur, futurist and digital commerce expert. He was a senior executive at American Express, Citi and MasterCard.

Faktor spoke earlier this month at the New Media Expo on “What the crowd will do next: How Social Currencies will Re-define the Economics of Work.” In our interview Faktor talks about how one “can’t deposit retweets at Wells Fargo” or “use FB Likes for cab fare.” He also unpacks the state of knowledge work in the age of social business.

Log in to read on IdeaFaktory or read the rest at CMS Wire

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On LinkedIn Today: Unrig It Yourself! (A New Year’s Intervention of Hope —for Doers)

By On · Leave a Comment · In Culture, Economy and Jobs, Econovation, Entrepreneurship, Feature, Government, Psychology, Technology

This is a re-post of Steve Faktor’s original article on Linkedin Today (via LinkedIn’s INfluencer program)

Before the holiday, Matt Damon was quoted saying “the system is rigged.” Immediately, I felt horrible. If the world is against this handsome, famous millionaire, what hope does a business hobbit like me have?

It’s not the first time I’ve heard this feel-bad, defeatist mantra. It was a cornerstone of the 99% protests and famously reiterated by Elizabeth Warren, now Senator Warren. (And brilliantly rebutted by Adam Carolla). On the right, an anarchist flavor of the same pessimism is brewing. Conspiracy ringleaders like Alex Jones are quietly mobilizing an angry, disenfranchised army. In uncertain times, it’s easy to succumb to paranoid defeatism. Why? Because it excuses failure. It de-stigmatizes the shame of not trying. It justifies hating the other guy’s success or telling those with nothing to fend for themselves.

Let’s say the system is rigged and everything is a conspiracy. Now what? Do you keep stocking your bunker with guns, canned goods, and homemade jerky? Or, sleep until noon on mom’s couch, then rail online against your oppressors – in your underwear? Instead you can focus on the incredible list of things you can control. In fact, the only time better and more empowering than today is tomorrow. The real revolution already started, but an entire generation of young and able-bodied Americans is about to miss it. Here is their recipe for The Great Unrigging – and to never accepting excuses again.

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On Forbes: Unbreaking American Innovation: Three Ways to Reinvent Reinvention

By On · Leave a Comment · In Business Process, Economy and Jobs, Econovation, Entrepreneurship, Feature, Innovation, Startups, strategy

This is a repost of Steve Faktor’s original Forbes article

I’ll be first to admit that I’m a reforming “innovation” trollop. I’ve thrown the word around too lightly, at any old sailor. I need a hot shower and a Brillo pad… What’s so bad about “innovation”? It doesn’t mean much…and maybe never did. Today, we use it to describe an iPhone newsreader app and the reinvention of space travel by SpaceX. That’s more range than Meryl Streep.  My business is about creating great products and services, so I look for great tech partners. Some are startups led by brilliant entrepreneurs, bursting with optimism and 5-Hour Energy. As they describe their app, game, or web service, their words scream Johnny Depp, but the reality is a bit more Judah Friedlander. No shame in that, but I sometimes wonder how we could get these brilliant minds to work on meatier problems. My concern isn’t for them, but for us. The US needs jobs and as I wrote in Econovation, the big numbers still come from physical, capital-intensive businesses. Here are three ways we can help make brilliant minds deliver bigger results.

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Are you TED-worthy?

By On · Leave a Comment · In Culture, Economy and Jobs, Econovation, Feature, Innovation, Psychology, Social Media, Technology, Trends

In one episode of Seinfeld, Elaine finds out the birth control sponge was discontinued. So she buys up all available inventory and obsesses over how “Spongeworthy” her many suitors are. Like Elaine, we luxuriate in the abundance of the information age, but it also hides some uncomfortable scarcities. In watching the recent TEDGlobal event in Scotland, it occurred to me that TED is much more than a collection of great talks. TED is that selective lover that doesn’t fish out fresh sponges for just anyone. In that way, TED offers us a glimpse into our future – an unnatural selection of sorts. It foreshadows what success – and even survival will look like in the next century.  Of course like any great story, it’s full of lessons for you-me-us.

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Independence Day for America’s iPad Generation

By On · 2 Comments · In Culture, Economy and Jobs, Econovation, Entrepreneurship, Government, Innovation, Politics, Psychology, Trends

As we play with our kids, dodge barbecue stains, and enjoy a mojito or three, you could hardly tell we’ve just been in two wars.  We’d look more frazzled after a full day at Disney or the mall.  I’m not saying we should spend today reciting the name of every fallen American hero; I do ask the comfy among us to consider what we’ve lost by becoming so detached  - and why we won’t need a hot tub time machine to reverse it.

One thing that’s clear is we’ve come to expect lots of amazing things – almost instantly. Facebook, Google, news, games and Amazon’s free shipping are amazing. Our iPads and phones are flawless and infinitely molestable.  We can enjoy them all from the comfort of the couch, as a local restaurant dispatches the hardworking Miguel to deliver our food. It’s a matter of time before he stays over to feed it to us.   It’s all so perfect, so gratifying.

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Happiness Will Not Be Downloaded (Harvard Business Review)

By On · Leave a Comment · In Culture, Economy and Jobs, Econovation, Entrepreneurship, Feature, Psychology, Technology, Trends

This is a re-post of my original article on Harvard Business Review

Happiness Will Not Be Downloaded - Steve Faktor - Harvard Business Review

Over the last decade, I’ve watched hundreds of cooking shows. It’s a matter of time before Martha Stewart demands UN sanctions for my stockpile of useless culinary knowledge. In reality, my own cooking is a malignant medley of boiled ravioli, lopsided omelets, and fresh veggies dying of embarrassment. So why do I torture myself with shows about food I can’t touch, taste, or feel guilty about? The answer will surprise you … and possibly change your life.

The proliferation of cooking shows, blogs, celebrity chefs, and their inevitable diabetes drug endorsements proves that everything is better wrapped in bacon. But cooking also taps into something more primal: it’s one of the last jobs that still does what most of us don’t — make things. In this sterile, white-collar world, where meat comes from ShopRite and homes are built by “guest workers,” cooking is the last physical job we can relate to.

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America’s Last Stimulus: 5 Ways to Use Europe’s Crisis to Create US Jobs

By On · Leave a Comment · In Economy and Jobs, Econovation, Entrepreneurship, Feature, Government, Healthcare, Manufacturing, Politics, Startups, strategy

This is an abridged version of the original article I wrote for Business Insider. 

In a forgotten corner of the White House sits a huge, Parthenon-shaped cake. Nearby, Ben Bernanke and Timothy Geithner are dancing like Zorba and dripping with hummus. Why all the glee?  It’s because Europe just gave the U.S. an amazing gift – the gift of greater incompetence.  I call this glitch in time ‘America’s Last Stimulus’. It may be our last chance to stimulate growth, kick-start our export engine, and make sure every European gets a big, wet kiss at the airport.

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Book Review: ECONOVATION, FAKTOR’S INNOVATION MANIFESTO

By On · Leave a Comment · In Econovation, Media, Speaking

A great review of Econovation by Gregg Fraley. A quick excerpt:

I wish I had picked it up sooner because it’s a fascinating, erudite, bitingly funny, well researched, and I think important book.

Americans — Buy one now and send it to your Congressman. Tell him or her that if they don’t read it you’ll lash them with wet Chinese noodles at the door to their office.

European readers, there’s plenty to learn from Faktor’s manifesto about how to reinvent an economy. As the title suggests, it’s a blend of economic and innovation thinking, but it’s also about trends, and, ultimately about large scale ideas.

 

From a European POV: Econovation Book Review by Fred Zimney

By On · Leave a Comment · In Econovation, Media, Speaking

Just in: new review of my book Econovation. Funny, I never intended it for a European audience, but it still resonates.  Maybe I am special, like mommy used to tell me…?  Excerpt:

Econovation: The Red, White, and Blue Pill for Arousing Innovation“This book is a highly accessible description of the US- economic problems and opportunities. It offers a concise overview of causes and underlying trends. It identifies opportunities, on the input and output side. In this way it offers highly instructive recommendations and lessons for every (not limited to the US) business leader, entrepreneur and professional. Lots of data presented with insight and humor…This book (some will claim it to be a true manifesto) is a must read for anyone who is interested in connecting to the changing context in our business world.”