More disruption, courtesy the Internet

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Via Joey Baker (and an earlier link I didn’t save), Professor Douglas Rushkoff on the “transformative nature of the internet“:

I’m not entirely sure how to collect my thoughts on this, but the presentation struck me as profound. Most importantly, it’s heartening to know that there are other crazies out there working their minds through the same observations of a fundamental change taking place. There’s tremendous room for intellectual growth, largely because it’s such uncharted territory. A couple memorable quotes from the presentation:

Talking about crises in the banking sector, Rushkoff says, “decentralizing technologies fundamentally undermine the corporate-capital structure.” The traditional corporate-capital structure, to my understanding, mandates that the wealth of a corporation is dependent on the scarcity of its product.

He goes on to explain that “‘digital economy’ is in itself an oxymoron […] Things digital are best understood as an ecology, not as an economy. Economies are based in […] rational actors, maximizing their value, through the acquisition and distribution of scarce resources, whereas on the internet what we have are irrational people having fun engaging in sharing what feels, at least to them, like limitless resources.” In short, the foundation of the economy is taking a 180, thanks to the internet.

The takeaway, as I realized in a conversation over lunch, is that it’s an amazing time to be alive because, depending on which side of the bed you work up on, there is so much potential for high impact creativity and innovation.