In the Euro failure, a potential chance for an all-digital currency.
As the financial landscape is being reshaped in one of the largest crisis of confidence ever encountered by the American form of capitalism, I cannot help but wonder whether what we are witnessing is the beginning not just of an economic crash but also of a cultural crash. A few months ago, I started getting the feeling that we are in the process of moving into a post-boomer era, and highlighted some of my thoughts on the subject. This was a surprising change of pace to my readers, who are generally more used to my studying things with technology as my focus lense but it was the beginning of an evolution in my thinking. As the first rumbles of the economic crisis started appearing a couple of years ago (HSBC, my employer at the time, was one of the first companies to aggressively write off bad loans), I started wondering whether the crisis in the mortgage space was only the beginning and thinking that the credit card crisis was probably going to dwarf the mortgage crisis if it ever happened. At the time, however, I had been so focused on looking at the world with a technology focus that I…Read More
There has been a lot of articles poo-pooing the concept of the new economy. However, many seems to be missing a critical part about the changes in the economic cycle. We are currently going through a period of sluggish economic growth but people are still getting fired in large numbers. Significant in the Times story is the following quote: the recent increases in corporate efficiency appear to have created a long-term change in the level of economic growth needed for an improving job market. The times is burying a huge story in this line. How did those increases in corporate efficiency happen? It is my contention that they happened largely due to the fact that a lot of the technology investments made in the 90s as result of the dotcom boom are starting to pay off. Whereas, in the past, memos were sent in paper form, and people had to talk to a lot more people to get access to simple bits of information, the introduction of intranet tools and email in the corporate world have helped workers become more efficient by cutting a large amount of unnecessary steps in the process of getting information. Whereas in the past, one…Read More
Since September 11th, life hasn’t been the same. At the final count, I’ve lost 7 close friends and another 5 acquaintances. This has shaken me and I have felt a little helpless since. However, in my sorrow, I have found a new need for action. Beyond giving money, blood and supplies, I’ve been talking to people about what to do to avoid a repeat of those events. While I usually cover technology in this newsletter, I believe that the following is important because it does require technology but also goes beyond that. Here are my thoughts on how we might be able to eradicate terrorism in the long run. Why did it happen? Like many, I’ve been left to wonder why terrorism happens. Is it because of our lifestyle? Is it because they consider us “corrupt”? Is it because we are different? Or is international terrorism inherent to globalization? As it stands, I’ve concluded that the best way to fight terrorism is to force people to question the motives of madmen like Osama Bin Laden. How do you do this? By giving people support. By helping raise them out of poverty. By showing them that we are not barbarians. By…Read More