Welcome To The Gift Economy @ Bioneers

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Tom Tresser gave this presentation at the 2012 Bioneers Chicago gathering on November 3, 2102. tom@tresser.com

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  • The topic is “A Future for Arts and Business Collaboration.” But first we must set the stage. How has business in America been doing lately. As Ricky used to say – “Lucy – You got some ‘splaining to do!!!”
  • Oh, no – the once lauded Enron and its leaders plunged us into a quagmire of shady bookkeeping practices. Arthur Anderson, their bookkeeper was destroyed. Surely – NOW we’ve learned some lessons and business will tighten up and act responsibly…
  • Gulp. Didn’t some famous historian say something about nit learning the lessons of history? Didn’t another philosopher say something about suckers being born every minute?
  • While all that was going on – this guy committed about 5 to 8 billion dollars of theft and fraud –His victims included Jewish charities that provide health and educational services to the needy. But – the SEC had eight passes at this guy over a decade and they found nothing wrong!! Madoff was active in the National Association of Securities Dealers (NASD), a self-regulatory securities industry organization and has served as the Chairman of the Board of Directors and on the Board of Governors of the NASD
  • This most recent bail out of greed plagued financial institutions REALLY got costly – The Treasury Department flooded the scene with cash…$7.2 trillion
  • And the Federal Reserve joined in with another $7.2 trillion. That’s a total of $14.4 TRILLION. 14 point four and then twelve zeros.
  • While all that was happening an oil rig blew up in the Gulf of Mexico killing 11 workers and drenching the region in toxic oil and other chemicals.
  • BP blames the guys who ran the rig who blame Haliburton who built part of it who blame BP for green lighting short cuts. Anyone here from that part of the country. My heart goes out to you and your neighbors. What can we say about all these sad misdeeds?
  • We seem to be incapable of --Learning from history. Righting our wrongs. Policing industry. Capturing blatant crooks BEFORE they rob us blind. I haven’t really heard a genuine APOLOGY from these guys yet.
  • Is capitalism and the corporate model somehow inherently flawed?
  • OR – are we training the best and brightest of young people incorrectly. And then REWARDING them obscenely?
  • Michael Jacobs thinks so. He’s a professor of the Practice of Finance at the University of North Caroline Kenan-Flagler Business. School He is the founder and CEO of Jacobs Capital, which provides merger and acquisition and business valuation services. He served as director of corporate finance at the U.S. Treasury Department from 1989-91, and was responsible for national policy in the areas of mergers and acquisitions, leveraged buyouts and corporate governance. This is what is wrote in The Wall Street Journal. “ By failing to teach the principles of corporate governance, our business schools have failed our students. And by not internalizing sound principles of governance and accounting, B-school graduates have matured into executives and investment bankers who have failed American workers and retirees who have witnessed their jobs and saving vanish…American business schools need to rethink what we are teaching – and not teaching – the next generation of leaders.”
  • So we need to think different about training our future business leaders!
  • I would propose a learning experience that blends an appreciation and understanding of the Gift with
  • 21 years old, 1991 – decided to release allowing for free distribution and modification
  • Welcome To The Gift Economy @ Bioneers

    1. 1. Welcome toThe Gift Economy Tom Tresser November 2012
    2. 2. “Our core values statement is now official.”
    3. 3. Assertion: Businessschools played acontributing role increating the geniuseswho brought us theeconomic meltdown of2008.Authors ask ”whetherbusiness schools do agood job of alertingstudents to theimperfections andincompleteness of themodels and frameworksthey teach.”
    4. 4. Q: What is valuable?
    5. 5. Activity #1 Text the amount of the total student debt in your family (you, your kids, your siblings)to this number: 312-544-0390
    6. 6. Activity #1
    7. 7. Activity #1
    8. 8. Linus Torvalds Crowdsourcing Change 25
    9. 9. • 8,000 contributors since 2005• Total 15 million lines of code written for free.• $3 billion contributed labor! Crowdsourcing Change
    10. 10. 28,000 projects uploaded for sharing!Crowdsourcing Change 27
    11. 11. Crowdsourcing Change 28
    12. 12. Crowdsourcing Change 29
    13. 13. Crowdsourcing Change 30
    14. 14. Peer-To-Peer Processes are…• produce use-value through the free cooperation of producerswho have access to distributed capital. Its product is not exchangevalue for a market, but use-value for a community of users.PRODUCE VALUABLE STUFF FOR GIFTING.• are governed by the community of producers themselves, andnot by market allocation or corporate hierarchy.COMMUNITY-ASSIGNED MERIT EARNED.• make use-value freely accessible on a universal basis, throughnew common property regimes. This is its distribution or peerproperty mode: a third mode of ownership, different from privateproperty or public (state) property. VIRAL DISTRIBUTION VIAUNIVERSALLY ACCESSIBLE NETWORKS.
    15. 15. Activity #2 Using the sticky notes, write down something (or some things) you would like to offer to the people in this room. This could be some stuff, a service or money. Please put your name and phone number or a way to be contacted.
    16. 16. Activity #2
    17. 17. Activity #2 www.facebook.com/ChicagoBioneers
    18. 18. “A person first starts to live when he can live outside himself, whenhe can have as much regard for his fellow man as he does forhimself. I believe we are here to do good. It is the responsibility ofevery human being to aspire to do something worthwhile, to makethis world a better place than the one he found. Life is a gift, and ifwe agree to accept it, we must contribute in return. When we failto contribute; we fail to adequately answer why we are here.” -Albert Einstein
    19. 19. www.civiclab.us@civiclabchicago Tom Tresser 312-804-3230tom@tresser.com @tomstee

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