Ten Rules For The New Economy.
music selection: “Stone Cold” — Rainbow
Kevin Kelly is the co-founder of Wired magazine. He writes a fantastic blog at kk.org. He published a great list that I think is of a lot of relevance to anyone looking for a side hustle. He claims all anyone needs to earn a living independently is “1,000 true fans.” A ten point list on how to get those thousand:
1. Embrace the Swarm. As power flows away from the center, the competitive advance belongs to those who learn how to embrace decentralized points of control.
2. Increasing Returns. As the number of connections between people and things add up, the consequences of those connections multiply out even faster, so that initial successes aren’t self limiting, but self-feeding.
3. Plentitude, Not Scarcity. As manufacturing techniques perfect the art of making copies plentiful, value is carries by abundance, rather than scarcity, inverting traditional business propositions.
4. Follow the Free. As resouce scarcity gives way to abundance, generosity begets wealth. Following the free rehearses the inevitable fall of prices, and takes advantage of the only true scarcity: human attention.
5. Feed the Web First. As networks entangle all commerce, a firm’s primary focus shifts from maximizing the firm’s value to maximizing the network’s value. Unless the net survives, the firm perishes.
6. Let Go at the Top. As innovation accelerates, abandoning the highly successful in order to escape for its eventual obsolescence becomes the most difficult, yet most essential task.
7. From Places to Spaces. As physical proximity (places) is replaces by multiple interactions with anything, anytime, anywhere (space) the opportunities for intermediaries, middlemen, and mid-size niches expand greatly.
8. No Harmony, All Flux. As turbulence and instability become a norm in business, the most effective survival stance is a constant but highly selective disruption that we call innovation.
9. Relationship Tech. As the soft trumps the hard, the most powerful technologies are those that enhance, amplify, extend, augment, distill, recall, expand, and develop soft relationships of all types.
10. Opportunities Before Efficiencies. As fortunes are made by training machines to be ever more efficient, there is a yet far greater wealth to be had by unleashing the inefficient discovery and creation of new opportunities.
Devour your prey raptors!
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