In his book The Purpose Economy, Aaron Hurst writes that a new economy centered on the need for individuals to find purpose in their work and lives is emerging as consumers, employers, community leaders, policy makers and employees play a role in restructuring society to meet the demands of people and the planet. He says the Purpose Economy helps explain many recent movements, which all point toward purpose as the core driver of the economy.
Month: June 2015
In his book “Drive”, Daniel Pink studied the science of motivation and found that while most businesses today incentivize employees with extrinsic motivators like rewards and bonuses, intrinsic motivators, which come from the pleasure or sense of satisfaction one gets from completing a task, are infinitely more effective in increasing the performance of cognitive activities.
If business is fundamentally about people exchanging value, then there’s no question that in a highly-networked world of ubiquitous information, we are all on a level playing field. Individuals today have more opportunity to find work, make contacts and exchange value than ever before thanks to technology and its network effects. And people are doing so at an ever-increasing rate. The Freelancer’s Union studied this trend and found there were 53 million or 34% self-employed freelancers in the US currently, and it projected that by 2020, 40% of the workforce will be independent.
Everyone is aware of the attention that Airbnb and Uber are getting for their sky rocketing growth and valuations. Airbnb, which is currently valued at over $20 billion, facilitates the peer to peer exchange of housing, while Uber, valued at over $40 billion, facilitates ride sharing. These companies are the darlings of the so-called Collaborative Economy, which is comprised of several related movements as defined by Rachel Botsman: