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jerryking : inflection_points   11

London Stock Exchange lays $27bn bet that data are the future
July 28, 2019 | | Financial Times | by Arash Massoudi, Richard Henderson and Richard Blackden.

The London Stock Exchange Group more than 300 years old, is trying to get back on the front foot with a plan for its most ambitious acquisition, one that will shape the direction of the group for years to come. It is the most striking demonstration yet of the charge among exchange operators into the business of supplying the data that is at the heart of markets....The LSE on Friday confirmed a Financial Times report that it was in talks to buy data and trading venue group Refinitiv for $27bn including debt, from a consortium led by private equity group Blackstone. If an agreement is reached for a company best-known for its Eikon desktop terminals, it would transform the LSE into a provider of financial market infrastructure and data with the scale to take on US exchange industry heavyweights Intercontinental Exchange and CME Group as well as Michael Bloomberg’s financial information empire.

“This would be a bold move in the shift among exchanges away from the matching of buyers and sellers and into the business of selling information,” said Kevin McPartland, head of market structure research at consultancy Greenwich Associates. “Data are so valuable and so is having the network of traders and investors to access that data — that’s all at play here.”......The deal would also be a defining moment for the LSE’s chief executive, David Schwimmer, just a year after the relatively unknown former Goldman Sachs banker was parachuted in to steady the ship. Its scale will bring considerable risk in execution alongside the need to convince LSE shareholders that taking on Refinitiv’s $12bn of debt will prove worth it.

Industry analysts see the strategic logic of the deal for the LSE, best known for its UK stock exchange and derivatives clearing house LCH. While revenue from initial public offerings can be more volatile, spending by everyone from asset managers to hedge funds on financial data and the analytical tools to make use of it has been going in one direction. It hit a record $30.5bn last year
.......“What’s happened is exchanges have found it more difficult to find ways of generating revenue in their traditional businesses,” “You can deliver data so easily now, there is voracious appetite from anyone making investment decisions so they can get an edge.”.....As well as winning over LSE shareholders, any deal is likely to face a lengthy period of antitrust approvals.

“There is a wider market concern about exchanges and data vendors combining,” said Niki Beattie, founder of Market Structure Partners. “The global world of data distribution is presided over by a small number of players who have a lot of power.”
asset_management  Blackstone  Bloomberg  bourses  data  financial_data  hedge_funds  inflection_points  IntercontinentalExchange  investors  LSE  mergers_&_acquisitions  M&A  Refinitiv  stockmarkets  Thomson_Reuters  tools  trading_platforms  turning_points  defining_moments 
july 2019 by jerryking
Business leaders are blinded by industry boundaries
April 22, 2019 | Financial Times | Rita McGrath.

Why is it so hard for executives to anticipate the major shifts that can determine the destiny of their organisations? Andy Grove called these moments “strategic inflection points”. For some, he wrote, “That change can mean an opportunity to rise to new heights. But it may just as likely signal the beginning of the end.”

Industry leaders would do well to focus on productive opportunities, even when they lie outside a fairly well-bounded industry. Want to survive a strategic inflection point? Stop focusing on traditional metrics and find new customer needs that your organisation can uniquely address.

Why do business leaders so often miss these shifts? Successful companies such as BlackBerry maker Research In Motion and Nokia did not heed the early signs of a move to app-based smartphones. Video rental chain Blockbuster failed to acquire Netflix when it had the chance, in 2000.

Senior people rise to the top by mastering management of the KPIs in that sector. This, in turn, shapes how they look at the world. The problem is a strategic inflection point can occur and render the reference points they have developed obsolete. Take traditional retail. Its key metrics have to do with limited real estate, such as sales per square metre. Introduce the internet and those measures are useless. And yet traditional systems, rewards and measures are all built around them.....British economist Edith Penrose grasped this crucial link, she asked, “What is an industry?” In her studies, executives did not confine themselves to single industries, they expanded into any market where their business might find profitable growth.

Consider the energy sector: Historically, most power generators and utilities were heavily regulated...The sector’s suppliers likewise expected steady demand and a quiet life....that business has been rocked by slow-moving shifts many players talked about, but did not act upon. The rise of distributed energy generation, the maturing of renewable technology, increased conservation and new rules have eroded the traditional model. Many failed to heed the warnings. In 2015, General Electric spent about $10bn to acquire Alstom’s power business. Finance chief Jeff Bornstein crowed at the time that it could be GE’s best acquisition ever. Blinded by traditional metrics, GE doubled down on fossil-fuel-fired turbines just as renewables were becoming cost competitive.

Consider razor blades: Procter & Gamble’s Gillette brand of razors had long enjoyed a competitive advantage. For decades, the company had invested in developing premium products, charged premium prices, invested heavily in marketing and used its clout to get those razors into every traditional retail outlet. A new breed of online rivals such as Dollar Shave Club and Harry’s have upended that model, reselling outsourced razors that were “good enough” and cheaper, online via a subscription model that attracted younger, economically pressured customers...... Rather than fork out for elaborate marketing, the upstarts enlisted YouTube and Facebook influencers to get the word out.
Andy_Grove  BlackBerry  blindsided  Blockbuster  brands  cost-consciousness  customer_insights  Dollar_Shave_Club  executive_management  GE  Gillette  good_enough  Harry's  industries  industry_boundaries  inflection_points  Intel  irrelevance  KPIs  metrics  millennials  movingonup  myopic  obsolescence  out-of-the-box  P&G  power_generation  retailers  reward_systems  sales_per_square_foot  shifting_tastes  slowly_moving  warning_signs 
april 2019 by jerryking
Algos know more about us than we do about ourselves
NOVEMBER 24, 2017 | Financial Time | John Dizard.

When intelligence collectors and analysts take an interest in you, they usually start not by monitoring the content of your calls or messages, but by looking at the patterns of your communications. Who are you calling, how often and in what sequence? What topics do you comment on in social media?

This is called traffic analysis, and it can give a pretty good notion of what you and the people you know are thinking and what you are preparing to do. Traffic analysis started as a military intelligence methodology, and became systematic around the first world war. Without even knowing the content of encrypted messages, traffic analysts could map out an enemy “order of battle” or disposition of forces, and make inferences about commanders’ intentions.

Traffic analysis techniques can also cut through the petabytes of redundant babble and chatter in the financial and political worlds. Even with state secrecy and the forests of non-disclosure agreements around “proprietary” investment or trading algorithms, crowds can be remarkably revealing in their open-source posts on social media.

Predata, a three-year-old New York and Washington-based predictive data analytics provider, has a Princeton-intensive crew of engineers and international affairs graduates working on early “signals” of market and political events. Predata trawls the open metadata for users of Twitter, Wikipedia, YouTube, Reddit and other social media, and analyses it to find indicators of future price moves or official actions.

I have been following their signals for a while and find them to be useful indicators. Predata started by creating political risk indicators, such as Iran-Saudi antagonism, Italian or Chilean labour unrest, or the relative enthusiasm for French political parties. Since the beginning of this year, they have been developing signals for financial and commodities markets.

The 1-9-90 rule
1 per cent of internet users initiate discussions or content, 9 per cent transmit content or participate occasionally and 90 per cent are consumers or ‘lurkers’

Using the example of the company’s BoJ signal. For this, Predata collects the metadata from 300 sources, such as Twitter users, contested Wikipedia edits or YouTube items created by Japanese monetary policy geeks. Of those, at any time perhaps 100 are important, and 8 to 10 turn out to be predictive....This is where you need some domain knowledge [domain expertise = industry expertise]. It turns out that Twitter is pretty important for monetary policy, along with the Japanese-language Wiki page for the Bank of Japan, or, say, a YouTube video of [BoJ governor] Haruhiko Kuroda’s cross-examination before a Diet parliamentary committee.

“Then you build a network of candidate discussions [JK: training beds] and look for the pattern those took before historical moves. The machine-learning algorithm goes back and picks the leads and lags between traffic and monetary policy events.” [Jk: Large data sets with known correct answers serve as a training bed and then new data serves as a test bed]

Typically, Predata’s algos seem to be able to signal changes in policy or big price moves [jk: inflection points] somewhere between 2 days and 2 weeks in advance. Unlike some academic Twitter scholars, Predata does not do systematic sentiment analysis of tweets or Wikipedia edits. “We only look for how many people there are in the conversation and comments, and how many people disagreed with each other. We call the latter the coefficient of contestation,” Mr Shinn says.

The lead time for Twitter, Wiki or other social media signals varies from one market to another. Foreign exchange markets typically move within days, bond yields within a few days to a week, and commodities prices within a week to two weeks. “If nothing happens within 30 days,” says Mr Lee, “then we say we are wrong.”
algorithms  alternative_data  Bank_of_Japan  commodities  economics  economic_data  financial_markets  industry_expertise  inflection_points  intelligence_analysts  lead_time  machine_learning  massive_data_sets  metadata  non-traditional  Predata  predictive_analytics  political_risk  signals  social_media  spycraft  traffic_analysis  training_beds  Twitter  unconventional 
november 2017 by jerryking
How to Be a C.E.O., From a Decade’s Worth of Them
T OCT. 27, 2017 | The New York Times | Corner Office By ADAM BRYAN.

It started with a simple idea: What if I sat down with chief executives, and never asked them about their companies?.....not about pivoting, scaling or moving to the cloud, but how they lead their employees, how they hire, and the life advice they give or wish they had received....C.E.O.s offer a rare vantage point for spotting patterns about management, leadership and human behavior....What's the best path to becoming a chief executive? No one path... too many variables, many of them beyond your control, including luck, timing and personal chemistry. Bryan cites three recurring themes.

First, they share a habit of mind that is best described as “applied curiosity.”...They make the most of whatever path they’re on, wringing lessons from all their experiences.
Second, C.E.O.s seem to love a challenge. Discomfort is their comfort zone.
The third theme is how they managed their own careers on their way to the top. They focus on doing their current job well, and that earns them promotions... focus on building a track record of success, and people will keep betting on you.
The Most Important Thing About Leadership, Part I - understand that leadership as a series of paradoxes.
The Most Important Thing About Leadership, Part II - the most important qualities of effective leadership? trustworthiness, “If you want to lead others, you’ve got to have their trust, and you can’t have their trust without integrity,” A close cousin of trustworthiness is how much you respect the people who work for you....“By definition if there’s leadership, it means there are followers, and you’re only as good as the followers,” he said. “I believe the quality of the followers is in direct correlation to the respect you hold them in. It’s not how much they respect you that is most important. It’s actually how much you respect them. It’s everything.”
‘Culture Is Almost Like a Religion’ - “No matter what people say about culture, it’s all tied to who gets promoted, who gets raises and who gets fired,” he said. “You can have your stated culture, but the real culture is defined by compensation, promotions and terminations. Basically, people seeing who succeeds and fails in the company defines culture. The people who succeed become role models for what’s valued in the organization, and that defines culture.”
Men vs. Women (Sigh) - distinctions in leadership style are less about gender and more about factors like whether they are introverts or extroverts, more analytical or creative, and even whether they grew up in a large or small family....the actual work of leadership? It’s the same, regardless of whether a man or a woman is in charge. You have to set a vision, build cultural guardrails, foster a sense of teamwork, and make tough calls. All of that requires balancing the endless paradoxes of leadership, and doing it in a way that inspires trust.
I Have Just One Question for You - If you could ask somebody only one question, and you had to decide on the spot whether to hire them based on their answer, what would it be?.....“So if I ask you, ‘What are the qualities you like least and most in your parents?’ you might bristle at that, or you might be very curious about it, or you’ll just literally open up to me. And obviously if you bristle at that, it’s too vulnerable an environment for you.”
My Favorite Story -..... It’s work ethic,” he said. “You could see the guy had charted a path for himself to make it work with the situation he had. He didn’t ask for any help. He wasn’t victimized by the thing. He just said, ‘That’s my dad’s business, and I work there.’ Confident. Proud.”

Mr. Green added: “You sacrifice and you’re a victim, or you sacrifice because it’s the right thing to do and you have pride in it. Huge difference. Simple thing. Huge difference.”

Best Career and Life Advice - biggest career inflection points, he told me, came from chance meetings, giving rise to his advice: “Play in traffic.”

“It means that if you go push yourself out there and you see people and do things and participate and get involved, something happens,” he said. “Both of my great occasions in life happened by accident simply because I showed up.”“I tell people, just show up, get in the game, go play in traffic,” Mr. Plumeri said. “Something good will come of it, but you’ve got to show up.”....from Ruth Simmons, president of Prairie View A&M University. Her suggestion to students:

“They should never assume that they can predict what experiences will teach them the most about what they value, or about what their life should be,” she said. “You have to be open and alert at every turn to the possibility that you’re about to learn the most important lesson of your life.”
howto  human_behavior  CEOs  career_paths  Managing_Your_Career  curiosity  discomforts  values  hard_work  trustworthiness  paradoxes  pairs  organizational_culture  gender_gap  work_ethic  playing_in_traffic  compensation  rewards  beyond_one's_control  guardrails  inflection_points 
october 2017 by jerryking
How Successful People Network with Each Other
JANUARY 21, 2016 | ???| Dorie Clark. Ms. Clark is a marketing strategist and professional speaker who teaches at Duke University’s Fuqua School of Business. She is the author of Reinventing You and Stand Out. You can receive her free Stand Out Self-Assessment Workbook.

As you advance in your career, you have more experience and more connections to draw on for networking. But chances are you’ve also become a lot busier — as have the really successful people you’re now trying to meet. How do you get the attention of people who get dozens of invitations per week and hundreds of emails per day? And how do you find time to network with potential new clients or to recruit new employees when your calendar is packed?

The typical advice that’s given to entry-level employees — Invite people to coffee! Connect with them on LinkedIn! — simply doesn’t work for people at the top of their careers. Instead, you need to leverage an entirely different strategy, something I call “inbound networking.”

In the online world, “inbound marketing” is a term that was popularized about a decade ago by HubSpot cofounders Brian Halligan and Dharmesh Shah. It refers to the practice of creating valuable content, such as articles or podcasts, that draws customers to you directly (as opposed to spending a lot of time on cold calls or paying for advertising to lure them in).

Networking is facing a similar inflection point. Most professionals are constantly bombarded with Facebook and LinkedIn connection requests, not to mention endless requests to “pick their brain.” Trying to stand out in the midst of that noise is a losing battle, and you probably don’t have time to send a bunch of cold emails anyway.

Instead, you can successfully network with the most prominent people by doing something very different from everyone else: attracting them to you with inbound networking. In other words, make yourself interesting enough that they choose to seek you out. Here are three ways to do it.

(1) Identify what sets you apart. (What's your special sauce?). One of the fastest ways to build a connection with someone is to find a commonality you share with them (your alma mater, a love of dogs, a passion for clean tech). That’s table stakes. But the way to genuinely capture their interest is to share something that seems exotic to them. It will often vary by context: In a roomful of political operatives, the fact that I was a former presidential campaign spokesperson is nice but not very interesting. But at a political fundraiser populated by lawyers and financiers, that background would make me a very desirable conversation partner.

The more interesting you seem, the more that powerful people will want to seek you out. And yet it can be hard for us to identify what’s most interesting about ourselves; over time, even the coolest things can come to seem banal. Ask your friends to identify the most fascinating elements of your biography, your interests, or your experiences — then do the same for them. At one recent workshop I led, we discovered that one executive had been a ball boy for the U.S. Open tennis tournament in his youth, and one attorney is an avid and regular surfer in the waters of New York City. Both are intriguing enough to spark a great conversation.

(2) Become a connoisseur. Almost nothing elicits more interest than genuine expertise. If someone is drawn to a topic that you’re knowledgeable about, you’ll move to the top of their list. Since publishing my books, I’ve had innumerable colleagues seek me out to get advice about finding an agent or fine-tuning their manuscripts.

But sometimes it’s even better when your expertise is outside the fold of your profession. Richard, a financial journalist I profiled in my book Reinventing You, was able to build better and deeper relationships with his sources after he started to write part-time about food and wine. He discovered that his Wall Street contacts would proactively call him up to get information about hot new restaurants or the best places to entertain their clients.

You can also use nontraditional expertise to build multidimensional connections. Bill Gates and Warren Buffett could certainly have a decent conversation about business. But it’s their expert-level seriousness about the card game bridge that cemented their bond, eventually leading to Buffett’s decision to entrust billions to the Bill & Melinda Gates Foundation.

When you’re an expert in a given niche, you can often connect on a level playing field with people who, under other circumstances, might be out of reach. One friend of mine, a corporate executive who produces jazz records on the side, recently got invited to the home of an internationally famous rock star as Grammy campaign season heated up.

If you know a lot about wine, or nutrition, or salsa dancing, or email marketing, or any of a million other subjects, people who care about that topic are sure to be interested in what you have to say.

(3) Become the center of the network. It’s not easy to build a high-powered network if you’re not already powerful. But New York City resident Jon Levy took the position that the best way to get invited to the party is to host the party. Nearly six years ago, he started hosting twice-monthly “Influencers” dinner gatherings, featuring luminaries in different fields. Levy’s gatherings now attract a guest roster of Nobel laureates and Olympic athletes. But he certainly didn’t start there.

Begin by inviting the most interesting professionals you know and asking them to recommend the most interesting people they know, and over time you can build a substantial network. At a certain point you’ll gain enough momentum that professionals who have heard about the dinners will even reach out to ask for an invitation. As Levy joked to one publication, “One day, I hope to accomplish something worthy of an invite to my own dinner.” When you’re the host, pulling together a great event liberates you to invite successful people who you might not normally consider your peers but who embrace the chance to network with other high-quality professionals.

I’ve also hosted more than two dozen dinner parties to broaden my network and meet interesting people. But that’s certainly not the only way to connect. These days, any professional who makes the effort to start a Meetup or Facebook group that brings people together could accomplish something similar.

The world is competing for the attention of the most successful people. If you want to meet them — and break through and build a lasting connection — the best strategy is to make them come to you. Identifying what’s uniquely interesting about you and becoming a connoisseur and a hub are techniques that will ensure you’re sought after by the people you’d most like to know.
networking  via:enochko  Communicating_&_Connecting  connoisseurship  hubs  creating_valuable_content  idea_generation  content_creators  personal_branding  attention_spans  inbound_marketing  high-quality  expertise  think_threes  special_sauce  personal_accomplishments  inflection_points  insights 
april 2017 by jerryking
The Women Who Met Hillary, and Spotted a Future Political Star - The New York Times
DEC. 24, 2016 | NYT | By SUSAN DOMINUS.

Hilary Clinton started changing American political culture for women as far back as the early 1970s — not through a candidacy of her own, but through a series of small, but crucial, networking moves.

The number of women who laboured in basement meetings, in consciousness-raising groups, in boardrooms, in unions, in news organizations and in their own kitchens to expand possibilities for women are far too many to count....Prominent among those who did were a few key friends of Mrs. Clinton whom she helped find paths to the cause, including a Texan political player named Betsey Wright....I’m ushered in to the National League of Women Voters headquarters, and Hillary tells them, ‘This can be your youth director.’”

Ms. Piercy, representing the league, went on to attend the Republican and Democratic conventions in 1972, a key inflection point for female activists. “We realized that the only way we could be accepted as equals was to be in office,” she said. “But the parties were not interested in cultivating women. So we realized we would have to train them ourselves.”...while Mrs. Clinton was a law student supporting the presidential candidate Senator George McGovern in San Antonio, she met Ms. Wright, the person she thought could galvanize and prepare potential female candidates.....Ms. Wright had previously worked on individual women’s campaigns. Yet it was Mrs. Clinton who suggested that Ms. Wright move to Washington to spread her expertise, by joining Ms. Piercy and Ms. Griffith to work for what would become known as the National Women’s Education Fund, an unofficial training arm of the National Women’s Political Caucus, with no formal affiliation. “Hillary was saying they really did need to get somebody who understood local races,” Ms. Wright said. “And she strongly urged me to go.”....Wright created seminars and training sessions that taught women how to maneuver within the political process.

She also formed a powerful partnership with Ruth Mandel, who had recently created the pioneering Center for American Women and Politics at Rutgers University. It was not just that they needed to train women, Ms. Mandel said; they needed to “help women overcome their own resistance to gaining political power in their own right.”...Wright knew that revolutions start with pragmatics: She created a training manual that the Education Fund and the Political Caucus relied on heavily for years, a guidebook that broke down the logistics of opinion polling, reaching the news media and recruiting a staff. The training sessions offered advice on every aspect of campaigning, including details specific to women.
Hillary_Clinton  politics  political_campaigns  discipline  political_infrastructure  institutions  politicians  institution-building  women  networking  training  consciousness-raising  grass-roots  inflection_points 
january 2017 by jerryking
Trump and the Lord’s Work
MAY 3, 2016 | The New York Times | Thomas L. Friedman.

This was a really bad time for us to be stuck. I’m just finishing writing a new book, which is partly about the inflection point we hit around 2007. In 2007, Apple came out with the iPhone, beginning the smartphone/apps revolution; in late 2006 Facebook opened its doors to anyone, not just college and high school students, and took off like a rocket; Google came out with the Android operating system in 2007; Hadoop launched in 2007, helping create the storage/processing power for the big data revolution; Github, launched in 2007, scaling open-source software; Twitter was spun off as its own separate platform in 2007. Amazon came out with the Kindle in 2007. Airbnb started in 2007.

In short, on the eve of Obama’s presidency, something big happened: Everything started getting digitized and made mobile — work, commerce, billing, finance, education — reshaping the economy. A lot of things started to get very fast all at once. It was precisely when we needed to double down on our formula for success and update it for a new era — more lifelong learning opportunities for every worker, better infrastructure (roads, airports, rails and bandwidth) to promote the flow of commerce, better rules to incentivize risk-taking and prevent recklessness, better immigration policies to attract the world’s smartest minds, and more government-funded research to push out the boundaries of science and sow the seeds for the next generation of start-ups.

That was the real grand bargain we needed. Instead, we had the 2008 economic meltdown, which set off more polarization, and way too much gridlock, given how much rethinking, reimagining and retooling we needed to do....It’s clear: Capitalism driven more by machines and robots poses new challenges for both white-collar and blue-collar workers.
Tom_Friedman  Donald_Trump  Github  Campaign_2016  GOP  populism  blue-collar  economic_downturn  white-collar  digital_economy  mobile  recklessness  automation  infrastructure  R&D  smart_people  digitalization  inflection_points 
october 2016 by jerryking
5 Spectacular Marketing Insights From Cirque du Soleil On Customer Intimacy | momentology
By Lisa Lacy, 21st of April 2016 at 14:05 PM.

So how does Cirque du Soleil use get closer to its fans? Here are five marketing insights from Derricks.

1. Be Ready To Ask & Re-Ask Questions

the live entertainment brand isn’t the new kid on the block anymore....undergoing a huge transformation as a result in part of private investment firm TPG acquiring a majority stake last year.

“And what’s fascinating is this inflection point is a chance to re-ask all the questions,” Derricks said. “Everything is back on the table again. Our brand is incredibly strong on stage, but where we’re challenged is what happens beyond the lights and how to interact with you.”

2. Don’t Miss The Marketing Basics
it’s hard for a brand like Cirque du Soleil to simply deliver an app or the like, so “given the crowded market, there’s a lot of basic blocking and tackling as much as finding the next brand new thing. Sometimes it’s about being in the right place at the right time.”

That means Cirque du Soleil capitalizes on traditional out-of-home tactics like taxi toppers and marquis ads, as well as videos in taxis to create awareness and buzz.

3. Have Smaller Conversations & Tell Stories

Derricks said the brand is hearing from its fans that they want to know more about the performers and what goes on behind the scenes.

“Where we’re challenged is selling the concept of the show itself,” Derricks said. “The most radical thing we can do is to be more intimate. I don’t know if we can be louder, but we can be more intimate and [and bring you] behind the curtain, which is a fascinating new adventure for Cirque du Soleil.

4. Bring People To You

Another part of Cirque du Soleil’s marketing strategy involves breaking down the shows into their component parts and connecting with audiences from there....As a result, the brand has begun experimenting with master classes in fields like makeup and dance.

5. Conduct Team Building Activities

What’s more, noting the circus itself has changed drastically as traditional circuses included acts in which performers were related by blood and were therefore very tightly knit, Derricks said Cirque du Soleil, which includes groups of performers without family ties, had to conjure up its own unique methods of fostering trust....As a result, Cirque du Soleil created Spark Sessions, or corporate experiences for networking, business development and/or milestones, to get other companies involved and to help teach what it has since learned about trust and leadership, "
private_equity  TPG  Guy_Laliberté  entrepreneur  fascination  Cirque_du_Soleil  customer_experience  storytelling  customer_intimacy  LBMA  out-of-home  teams  trustworthiness  brands  insights  outreach  live_performances  corporate_training  inflection_points 
april 2016 by jerryking
Toronto’s problem has grown beyond its mayor
Nov. 08 2013 | The Globe and Mail |Richard Florida

Toronto must deal with an even larger schism, the one that divides its booming 21st-century economy from its outmoded growth model and system of governance. It is this – not Mr. Ford – that poses the most serious threat to Toronto’s continued prosperity....Toronto has reached a true inflection point, and the problem is not high taxes or fiscal profligacy, as many have framed it....Toronto’s biggest problem is its growth model, which has far outlived its shelf life.

When a city region like Toronto – or Atlanta, Washington, Dallas or Miami – hits the 5.5 to six million mark in population, it can no longer grow based on cars and sprawl. It has to grow upward as well as outward and has to become much more oriented to transit. Most cities fail to make the required investments and their growth stalls and falters. The truly great cities are able to invest in ways that change their growth trajectory. This is what New York did more than a century ago when it built its rail and subway lines. That’s what Toronto needs to do now if it wants to achieve its ambition to become a truly global city....To do so requires not just massive investments in transit, but more flexible building and zoning regimes that promote greater density at the core and in the suburbs alike. The dysfunction in the mayor’s office means that all this is being put on the back burner....then there is the deep and fundamental problem of the growing geographic inequality that produced Mr. Ford in the first place. ....Inequality has frustrated even the most effective mayors...[Toronto} needs a new governance system that is adequate to the new challenges it faces....Toronto can lead the world by devising a modern system that’s up to the task of investing in governing and investing in a large economically integrated city. ...the basic idea would be to create a new kind of federalism, which extends from the provincial government through the city and all the way down to the varied communities and neighbourhoods that make it up.
21st._century  building_codes  cities  communities  densification  federalism  land_uses  mayoral  neighbourhoods  NYC  Queen’s_Park  regulation  Richard_Florida  Rob_Ford  scandals  schisms  transit  Toronto  zoning  inflection_points 
november 2013 by jerryking
Thinkers And Tinkerers
June 22, 2010 | The New Republic | Edward Glaeser. Reviews
The Enlightened Economy: An Economic History of Britain, 1700-1850 by
Joel Mokyr Yale University Press, 564 pp., $45. The Industrial
Revolution is the inflection point of economic history. During all the
millennia before that revolution, incomes were static and humans were
poor—often hungry, inadequately clothed, ill-housed. But somehow, in the
2.5 centuries since humanity learned to mass produce, a large number of
ordinary people have acquired more material comfort than even the
wealthiest magnates of the pre-industrial era....Joel Mokyr (The Lever
of Riches) a distinguished economic historian, explores England’s early
industrial age. Mokyr's overarching thesis is about the power of ideas.
His grand idea is that the practical, avaricious inventors of the
industrial revolution owed much to the academic, but worldly,
philosophers of the Enlightenment.
Industrial_Revolution  history  book_reviews  financial_history  the_Enlightenment  Joel_Mokyr  economic_history  industrial_age  precision  ideas  inventors  books  mass_production  England  United_Kingdom  steam_engine  James_Watts  tinkerers  inflection_points 
july 2010 by jerryking

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