We are at the dawn of the Autonomous Revolution, a turning point in human history as decisive as the Agricultural and Industrial Revolutions. More and more, AI-based machines are replacing human beings, and online environments are gathering our data and using it to manipulate us. This loss of human autonomy amounts to nothing less than a societal phase change, a fundamental paradigm shift. The same institutions will remain–schools, banks, churches, and corporations–but they will radically change form, obey new rules, and use new tools.
William H. Davidow and Michael S. Malone go deeply into the enormous implications of these developments. They show why increases in productivity no longer translate into increases in the GDP and how zero cost, one-to-many communications have been turned into tools for cybercrime and propaganda. Many of the book’s recommendations–such as using taxes to control irresponsible internet behavior and enabling people to put their data into what are essentially virtual personal information “safety deposit boxes”–are bold and visionary, but we must figure out how we will deal with these emerging challenges now, before the Autonomous Revolution overcomes us.
Howard Marks Inspiration with Michael Covel on Trend Following Radio.
Bain & Company partner Rob Markey argues most companies are too focused on earnings at the expense of customers. Instead they should measure and report “customer value” to investors, like Costco, Amex and Humana do, with consistent metrics that allow investors and other stakeholders to judge a company’s true value compared to competitors.
Too often, earnings pressure results in cost-cutting measures that hurt customers. But if you want to compete in today’s loyalty economy, customer value should be reported in your next quarterly and annual earnings or IPO reports, and it should become the focus of the money and attention you invest in your company. The article contains tips and original research with numerical data on how much faster loyalty leading companies grow revenues and shareholder returns than competitors.
Bio: Rob Markey is a partner and director at Bain & Company and the founder of the firm’s Global Customer Strategy and Marketing practice. He is a coauthor of The Ultimate Question 2.0 and is the host of the Net Promoter System podcast.
Michael Covel Goes on the Trend Following Tour on Trend Following Radio.
Tom Golisano understands the fears, risks, and challenges small-business owners face every day—he’s lived it. He has launched and grown his own highly successful businesses and mentored dozens of entrepreneurs, helping them build their own successful companies.
Built, Not Born shows readers:
• How going against the grain can be a great strategy for finding business opportunities and why it pays to question conventional wisdom.
• Why the pregnant pause can be an effective weapon in negotiations and when interviewing potential employees.
• Why a prenuptial or even a postnuptial agreement is critical to any business owner.
• What potential buyers and funding sources look for, and the best way to present a business plan.
• And finally, the key growth and leadership strategies that have helped Paychex sustain its incredible level of growth and profitability.
Tom Golisano—entrepreneur, philanthropist, civic leader, and former owner of the Buffalo Sabres NHL team—is the founder and chairman of the Board of Paychex, Inc., headquartered in Rochester, New York, with more than 15,500 employees and 100 office locations nationwide. Still active in business and philanthropy, he currently mentors the entrepreneurs who run the businesses in which he has invested, and he also oversees his family’s charitable foundation. To date he has donated over $250 million to a wide range of charitable causes, including educational institutions, children’s hospitals, and especially organizations working with people who have developmental and intellectual disabilities.
Dan Ferris is the editor of Extreme Value, a monthly investment advisory that focuses on some of the safest and yet most profitable stocks in the market: great businesses trading at steep discounts. And while Dan and Michael employ different investing strategies, their conversation today reveals much in common.
Dan joined Stansberry Research in 2000. He became editor of Extreme Value in 2002. His strategy of finding safe, cheap, and profitable stocks has earned him a loyal following – as well as one of the most impressive track records in the industry.
Dan was among the few analysts to accurately describe the breadth and depth of the coming 2008 financial crisis. And he told investors to get out of small-cap mining stocks in 2011, before they went into a brutal, multi-year bear market.
As a result of his work in Extreme Value, Dan has appeared on Money with Melissa Francis and The Willis Report on Fox Business News, as well as The Street with Paul Bagnell on Business News Network. He has also been featured in Barron’s, the Value Investing Letter, and financial radio programs around the country.
The hidden key to successful transformation in any organization lies between human intuition and data-driven insights. Rishad Tobaccowala draws on research and interviews, as well as over three decades of experience as a business and thought leader, to describe how digilog companies—ones where digital tools and analog people are integrated expertly—develop a hybrid consciousness and learn to be proactive when they see warning signs that human traits are being subordinated to technology and data only decisions. Restoring the Soul of Business provides practical tools and techniques that every organization can and should implement, and challenges us to move forward with the kind of balance that catalyzes transformation and produces one great success after another:
Understand how to unleash the significant benefit that can by realized by combining emotion and data, human and machine, analog and digital.
Spot the warning signs of data-blinded companies: cold cultures with little human interaction, poor innovation stemming from stifled employees not encouraged to contribute ideas or insights, and poor customer service due to automated, robotic processes that cause frustration and hurt the brand.
Explore how organizations of various sizes and from different industries, from Walmart and IBM to Starbucks and Domino’s to Netflix and Google, have successfully reoriented their thinking on how to fuse technology and humanity.
Gain skills to become an expert in connections critical to growth and success, including the connection between being creative and using technology, between succeeding today and thriving tomorrow, and between leveraging networks and creating new ideas and approaches.
Biography: Rishad Tobaccowala is the Chief Growth Officer at Publicis Groupe, an advertising and communications firm whose 80,000 employees worldwide are dedicated to delivering marketing and business transformation. He is responsible for supporting the leaders of Publicis Groupe’s largest global clients, to help these organizations grow in a revolutionary time for all businesses.
Take Shots with Michael Covel on Trend Following Radio.