19 November 2013

[Book] Reputation Economics

Be the first to share

Reputation Economics: Why Who You Know Is Worth More Than What You Have
by Joshua Klein
Palgrave Macmillan Publisher
November 2013, 256 pages
[Amazon link]

Abstract
As the internet has increasingly become more social, the value of individual reputations has risen, and a new currency based on reputation has been created. This means that not only are companies tracking what an individual is tweeting and what sites they spend the most time on, but they’re using this knowledge to predict the consumer’s future behavior. And a world in which Target knows that a woman is pregnant before she does, or where a person gets a job (or loses one) based on his high school hijinx is a scary one indeed. But what if there were a way to harness the power of these new technologies to empower the individual and entrepreneur? What if it turned out that David was actually better suited to navigate this new realm of reputation than Goliath? And what if he ushered in a new age of business in which reputation, rather than money, was the strongest currency of all? This is all currently happening online already.

The author
Joshua Klein is an internationally known technology expert who studies systems, from computer networks and institutions to consumer hardware. His recent projects have included an acclaimed new television series on the history of innovation on the National Geographic Channel, called The Link, one of the most watched TED videos of all time (about vending machine to train crows to exchange found coins for peanuts) and the development of a cell phone application to create a virtuous cycle of education and employment in South Africa. His work has appeared in The New York Times, Wired, O Magazine, and The Harvard Business Review. He has made appearances on MSNBC, NPR, and has spoken at conferences from TED to Davos, and presented in front of organizations ranging from the State Department to the Young Presidents Organization Global Leadership Congress, to Microsoft to Amazon. He lives in New York City.

Essay based on the book
Worth reading, although I am not sure how his second and third solutions (see below) would actually work for the very large majority of people (particularly in a world of corporations who are very smart with algorithms and pervasive surveillance):

Solution 1:

“We can opt out entirely, which is increasingly only possible if we want to wrap our heads in tin foil and live in a cave.”

Solution 2:

“We can limit how our personal information is gathered and utilized, and in doing so we can demand that it be purchased at higher rates than just access to Instagram. It may not mean cold hard cash (at least not at first), but we can certainly expect more premium services, more discreet advertising, or even just better control over who gets our data and for what purposes.

After all, once we start controlling what we share with whom, we can decide that certain kinds of information are worth more to which retailers. Want to know what sort of food I regularly order? I might decide to share that with FreshDirect (a grocery delivery service) and Seamless (a restaurant delivery service), but not with Good Eggs or GrubHub (their competitors). Once those services recognize that I’ve got a commodity they want—namely data that allows them to upsell, cross-market, and target-promote—and that I’m willing to withhold that information from one provider in favor of another, it changes the game substantially. In exchange for my precious data, companies might offer me meaningful dollar-value promotions, discounts, and special offers.”

Solution 3:

“|If companies won’t start offering genuine value for your data, then you should consider holding it back. Most of the tracking systems that exist online can still be circumvented or blocked: There are virtual private networks (VPNs) to prevent our location from being tracked, browser plug-ins to keep our Web page views private, encryption tools to keep our documents and emails from being scanned, and anonymizing software to allow us to participate in social networks without our real-world identities being connected to our online conversations. As an added bonus, many of these technologies (such as TOR for anonymizing our Internet traffic or PGP for encrypting our email) can also protect our data from government surveillance, both national and international.”

I guess I will have to read the book.

Be the first to share
30 January 2016
[Book] Asian Perspectives on Digital Culture
Asian Perspectives on Digital Culture: Emerging Phenomena, Enduring Concepts Edited by Sun Sun Lim, Cheryll Soriano Routledge, 2016 214 pages Abstract In Asia, amidst its varied levels of economic development and diverse cultural traditions and political regimes, the Internet and …
29 January 2016
[Report] Consumers more frustrated by smart home apps than devices
New report by Argus Insights suggests disappointing apps break user experience, may cause decline in consumer delight over time. The Smart Home ecosystem comprises both hardware devices and software apps and together they are supposed to …
26 January 2016
[Book] Every Thing We Touch: A 24-Hour Inventory of Our Lives
Every Thing We Touch: A 24-Hour Inventory of Our Lives [Tumblr page] by Paula Zuccotti Viking Books, November 2015 256 pages What's the first thing we touch when we wake up? How do our favourite things reveal our hopes and …
22 January 2016
Creating age-friendly cities
In a new report the McGraw Hill Financial Global Institute (MHFI) argues that we need a new thinking about how to create "age-friendly cities." Adapting to the challenges of an aging urban population, they write, requires …
19 January 2016
[Book] Validating Product Ideas Through Lean User Research
Validating Product Ideas Through Lean User Research by Tomer Sharon Rosenfeld Media, January 2016 344 pages Want to know what your users are thinking? If you're a product manager or developer, this book will help you learn the techniques …
11 January 2016
[New publication] The Hackable City: A Research Manifesto and Design Toolkit
The Hackable City: A Research Manifesto and Design Toolkit Authors - Cristina Ampatzidou (University of Amsterdam / University of Groningen) - Matthijs Bouw (One Architecture) - Froukje van de Klundert (University of Amsterdam) - Michiel de Lange (Utrecht University) - Martijn …
6 January 2016
[Book] Service Design for Business
Service Design for Business: A Practical Guide to Optimizing the Customer Experience Ben Reason, Lavrans Løvlie, Melvin Brand Flu Wiley Publishers December 2015, 208 pages Abstract Service Design for Business helps you transform your customer's experience and keep them engaged …
3 January 2016
[Book] Holistic Retail Design
Holistic Retail Design – Reshaping Shopping for the Digital Era By Prof. Philipp Teufel and Prof. Rainer Zimmermann (Peter Behrens School of Arts, University of Applied Sciences Düsseldorf) Frame Publishers September 2015 - 400 pages Abstract (from Dexigner) Written by …

We are an international experience design consultancy helping companies and organisations to innovate their products, services and processes by putting people and their experiences first.

18 January 2016
Experientia website completely reshaped

Experientia is pleased to announce that we’ve started 2016 with a brand new website. Experientia’s now officially 10 years old, and we decided that the best way to celebrate is by building a new website that showcases our growth – with new projects, new people in the staff, and two new locations in Lausanne and […]

1 January 2016
For when things get personal…
13 October 2015
Experientia report: Design for ageing gracefully

Design for Ageing Gracefully Rethinking Health and Wellness for the Elderly: Public Services Asian Insights & Design Innovation, DesignSingapore Council October 2015

29 September 2015
[Experientia book] Ethnography on elderly health and wellness

As we age, we increasingly depend on public services and the community for support. Well-designed public services can greatly affect the lives of the elderly and their experiences of healthcare. Experientia collaborated with DesignSingapore Council on understanding how the elderly interact with public services and how we can look towards improving their lives with design. […]

2 July 2015
Getting citizens involved in protecting fragile energy environments

A new project funded under the FP7 European Commission framework is getting citizens involved in testing new tools for reducing energy consumption during peak loads, in the hope that its pilot program will set the new state of the art for protecting locations with fragile electricity supplies. One of France’s most fragile regions The Provence-Alpes-Côte […]

5 May 2015
Experientia designer Dohun YuLuck Jang 유록 in Design 4 Disaster

Design 4 Disaster features an engaging illustrated safety manual for ship passengers, a personal project by Experientia designer Dohun YuLuck Jang 유록. After the Korean ferry accident last year, Yuluck (who is Korean) wanted to find a way to make safety manuals more interesting to read. He spent one year designing an interactive safety guide […]

See all articles