Palo Alto and the way we live now
Think the Google Guys, Larry Ellison and lots of billionaires who benefitted from technology and its current place in the world.
Analysis
The Crisis of Democratic Capitalism
From the chief economics commentator of the Financial Times, a magnificent reckoning with how and why the marriage between democracy and capitalism is coming undone, and what can be done to reverse this terrifying dynamic. Martin Wolf has long been one of the wisest voices on global economic issues. He has rarely been called an optimist, yet he has never been as worried as he is today. Liberal democracy is in recession, and authoritarianism is on the rise. The ties that ought to bind open markets to free and fair elections are threatened, even in democracy’s heartlands, the United States and England. Around the world, powerful voices argue that capitalism is better without democracy; others argue that democracy is better without capitalism. This book is a forceful rejoinder to both views. Even as it offers a deep, lucid assessment of why this marriage has grown so strained, it makes clear why a divorce of capitalism from democracy would be a calamity for the world. They need each other even if they find it hard to life together. For all its flaws, argues Wolf, democratic capitalism remains far and away the best system for human flourishing. But something has gone seriously awry: the growth of prosperity has slowed, and the division of its fruits between the hypersuccessful few and the rest has become more unequal. The plutocrats have retreated to their bastions, where they pour scorn on government’s ability to invest in the public goods needed to foster opportunity and sustainability. But the incoming flood of autocracy will rise to overwhelm them, too, in the end. Citizenship is not just a slogan or a romantic idea; it’s the only idea that can save us, Wolf argues. Nothing has ever harmonised political and economic freedom better than a shared faith in the […]
Trump’s unprecedented call for protests is the latest sign of his aim to degrade America’s institutions
-Shelley Inglis, Executive Director, University of Dayton Human Rights Center, University of Dayton In a social media post on March 18, 2023, former President Donald Trump announced that he would be arrested on March 21 on charges stemming from an investigation led by Manhattan District Attorney Alvin Bragg. Bragg’s office is probing hush-money payments to Stormy Daniels, an adult film star, which were allegedly made to spare candidate Trump embarrassment on the eve of the 2016 presidential election. Scholar Shelley Inglis spent more than 15 years with the United Nations, where she advised governments and democracy advocates on how to strengthen the rule of law, human rights and democratic governance. We asked her about Trump’s post. What did you think about when you heard his call for protests? Let me begin by quickly describing populism, because it’s important to my thoughts about Trump’s post. Populist movements portray “the people in a moral battle against elites,” as scholars Jane Mansbridge and Stephen Macedo describe it. Some level of populism is inherent in democracies where candidates appeal to be elected by “the people.” But what I call autocratic populists use this narrative to claim they are the sole voice of “the people” and those against them are “bad” or even “evil.” They undermine any and all opposition to them and attempts to hold them accountable, including independent institutions like courts, elections and the media. This is how such populists become so dangerous for democracy and the rule of law. Members of the media set up cameras in front of the courthouse on March 20, 2023, in New York, ahead of former President Donald Trump’s anticipated indictment. AP Photo/Eduardo Munoz Alvarez Trump has that autocrat’s populism, in which he says that not only is he anti-elite but that he is “the only one” who can represent the people and […]
Nuclear powered submarines to keep an eye on the “wolf warrior”
The submarines will be patrolling the waters, keeping an eye out for the ‘wolf warrior”.
Getting to Diversity
“Too many companies don’t know how to walk the walk of diversity, equity, and inclusion. Getting to Diversity shows them how.”—Lori George Billingsley, former Global Chief DEI Officer, Coca-Cola Company In an authoritative, data-driven account, two of the world’s leading management experts challenge dominant approaches to increasing workplace diversity and provide a comprehensive account of what really works. Every year America becomes more diverse, but change in the makeup of the management ranks has stalled. The problem has become an urgent matter of national debate. How do we fix it? Bestselling books preach moral reformation. Employers, however well intentioned, follow guesswork and whatever their peers happen to be doing. Arguing that it’s time to focus on changing systems rather than individuals, two of the world’s leading experts on workplace diversity show us a better way in the first comprehensive, data-driven analysis of what succeeds and what fails. Frank Dobbin and Alexandra Kalev draw on more than thirty years of data from eight hundred companies as well as in-depth interviews with managers. The research shows just how little companies gain from standard practice: sending managers to diversity training to reveal their biases, then following up with hiring and promotion rules, and sanctions, to shape their behavior. Almost nothing changes. It’s time, Dobbin and Kalev argue, to focus on changing the management systems that make it hard for women and people of color to succeed. They show us how the best firms are pioneering new recruitment, mentoring, and skill training systems, and implementing strategies for mixing segregated work groups to increase diversity. They explain what a difference ambitious work–life programs make. And they argue that as firms adopt new systems, the key to making them work is to make them accessible to all—not just the favored few. Powerful, authoritative, and driven by a commitment […]
The ‘Big Con’
There is an entrenched relationship between the consulting industry and the way business and government are managed today which must change. Mariana Mazzucato and Rosie Collington show that our economies’ reliance on companies such as McKinsey, Boston Consulting Group, Bain & Company, PwC, Deloitte, KPMG and EY stunts innovation, obfuscates corporate and political accountability and impedes our collective mission of halting climate breakdown. Mariana Francesca Mazzucato is an economist with dual Italian–American citizenship. She is a professor in the Economics of Innovation and Public Value at University College London and founding director of the UCL Institute for Innovation and Public Purpose. Rosie Collington is a PhD candidate at the UCL Institute for Innovation and Public Purpose, where she researches the political economy of outsourcing. The ‘Big Con’ describes the confidence trick the consulting industry performs in contracts with hollowed-out and risk-averse governments and shareholder value-maximising firms. It grew from the 1980s and 1990s in the wake of reforms by both the neoliberal right and Third Way progressives, and it thrives on the ills of modern capitalism, from financialization and privatisation to the climate crisis. It is possible because of the unique power that big consultancies wield through extensive contracts and networks – as advisors, legitimators and outsourcers – and the illusion that they are objective sources of expertise and capacity. To make matters worse, our best and brightest graduates are often redirected away from public service into consulting. In all these ways, the Big Con weakens our businesses, infantilises our governments and warps our economies. Mazzucato and Collington expertly debunk the myth that consultancies always add value to the economy. With a wealth of original research, they argue brilliantly for investment and collective intelligence within all organisations and communities, and for a new system in which public and private sectors […]
News Corp’s job cuts cast a shadow over the future of its newspapers
Denis Muller, Senior Research Fellow, Centre for Advancing Journalism, The University of Melbourne News Corporation is cutting its staff by 5% globally, including in Australia, after its news media division recorded a second-quarter earnings decline of 47%. The decision inevitably reopens questions about the future of the company’s newspapers, particularly once Rupert Murdoch is gone. The company’s chief executive officer, Robert Thomson, said a surge in interest rates and inflation caused the earnings decline, and that these effects were “more ephemeral than eternal”. However, structural complications in the corporation suggest these “ephemeral” factors are only part of the problem. “Eternal” factors – such an interesting word where Murdoch is concerned – include the performance of the tabloid newspapers that have played a pivotal role in the development of the organisation. It casts a large shadow over the organisation’s future direction and structure. A glimpse of this has emerged since the public became aware in October 2022 of a proposal to reunite News Corp, which is the newspaper division of the empire, with Fox Corp, which focuses on television and streaming services. The two were split in 2013 to quarantine Fox from the taint of scandal arising from the phone-hacking in the UK, perpetrated by News International, a subsidiary of News Corp. The reunification proposal ran into strong resistance from the market for two reasons. First, there were misgivings among shareholders in News Corp about the business merits of Fox Corp, and vice-versa. Second, there were lingering reputational concerns hanging over from the hacking scandal. In January 2023 it was announced that reunification would not proceed, at least for now. As if to reinforce the relative strengths and weaknesses of the News and Fox divisions, in the same quarter that the newspapers showed such a dramatic earnings decline, Foxtel Group’s subscriber base grew 10%, and the subscriber […]
The Interview: Lim Xin Lan, senior power engineer CHINT, Asia
International Woman’s Day/International Day of Women and Girls in Science, 11 February 2023 and to celebrate www.asiamanufacturingnewstoday.com and www.themirrorinspires.com interviewed Lim Xin Lan, senior Power Engineer CHINT, Asia. Why did you choose to become a power engineer? My love for numbers led me into Engineering. When I was pursuing my Honours in Electrical Engineering at the Nanyang Technological University in Singapore, I developed an interest in power engineering. In my twenties, I foresaw how I could empower the world as a power engineer. I wanted to make an impact to society at large by ensuring the safe transmission of reliable electricity – a fundamental human need. It has been about a decade since I graduated from school, and I have never once looked back at my decision. Till today, I’m still motivated by my role as I always find meaning in what I do. There can’t be many female power engineers? My undergraduate cohort consisted of about 100 students, and they were mostly male. While the number of female power engineers in the industry today is still outnumbered by men, gender should not be a qualifying factor for this profession. If anything, the small number of female engineers in the industry as a whole represents an opportunity for more women to break into this field. Power engineers, whether male or female, should be driven by a strong sense of intuition, and importantly, a passion to solve real world problems such as the electrification of underserved areas in the world, and to ensure the safety of the end users. What is it exactly that you do? In a nutshell, critical thinking is what I do on a daily basis. I recommend the right solutions to businesses and governments worldwide to ensure the safe transmission of reliable electricity, and at the same […]
IF THEN: How the Simulmatics Corporation Invented the Future
– Jill Lepore A brilliant, revelatory account of the Cold War origins of the data-mad, algorithmic twenty-first century, from the author of the acclaimed international bestseller, These Truths. The Simulmatics Corporation, founded in 1959, mined data, targeted voters, accelerated news, manipulated consumers, destabilised politics, and disordered knowledge–decades before Facebook, Google, Amazon, and Cambridge Analytica. Silicon Valley likes to imagine it has no past but the scientists of Simulmatics are the long-dead grandfathers of Mark Zuckerberg and Elon Musk. Borrowing from psychological warfare, they used computers to predict and direct human behaviour, deploying their “People Machine” from New York, Cambridge, and Saigon for clients that included John Kennedy’s presidential campaign, the New York Times, Young & Rubicam, and, during the Vietnam War, the Department of Defense. Jill Lepore, distinguished Harvard historian and New Yorker staff writer, unearthed from the archives the almost unbelievable story of this long-vanished corporation, and of the women hidden behind it. In the 1950s and 1960s, Lepore argues, Simulmatics invented the future by building the machine in which the world now finds itself trapped and tormented, algorithm by algorithm. “A person can’t help but feel inspired by the riveting intelligence and joyful curiosity of Jill Lepore. Knowing that there is a mind like hers in the world is a hope-inducing thing.” –George Saunders “Everything Lepore writes is distinguished by intelligence, eloquence, and fresh insight. If Then is that, and even more: It’s absolutely fascinating, excavating a piece of little-known American corporate history that reveals a huge amount about the way we live today and the companies that define the modern era.” –Susan Orlean “Data science, Jill Lepore reminds us in this brilliant book, has a past, and she tells it through the engrossing story of Simulmatics, the tiny, long-forgotten company that helped invent our data-obsessed world, in which prediction is seemingly […]
The Status Revolution
-Chuck Thompson How did rescue dogs become status symbols? Why are luxury brands losing their cachet? What’s made F. Scott Fitzgerald’s most famous observations obsolete? The answers are part of a new revolution that’s radically reorganising the way we view ourselves and others. Status was once easy to identify—fast cars, fancy shoes, sprawling estates, elite brands. But in place of Louboutins and Lamborghinis, the relevance of the rich, famous, and gauche is waning and a riveting revolution is underfoot. Chuck Thompson sets out to determine what “status” means today and learns that what was once considered the low life has become the high life. In The Status Revolution, Thompson tours the new world of status from a small community in British Columbia where an indigenous artist uses wood carving to restore communal status; to a Washington, DC, meeting of the “Patriotic Millionaires,” a club of high-earners who are begging the government to tax them; to a luxury auto factory in the south of Italy where making beautiful cars is as much about bringing dignity to a low-earning region than it is about flash and indulgence; to a London lab where the neural secrets of status are being unlocked. Full of revelations and with his signature wit and irreverence, Thompson explains why everything we know about status is changing, upends centuries of conventional wisdom, and shows how the new status revolution reflects our place in contemporary society.