Swiss Silicon Valley Assn051109

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  • President Barack Obama and First Lady Michelle Obama walk down Pennsylvania Avenue enroute to the White House, Tuesday, Jan. 20, 2009. Photo/Doug Mills, New York Times http://www.whca.net/mills-obama-walking960.jpg389 years of progress http://www.wallstats.com/389yearsago/
  • Image Source http://www.newyorker.com/images/2008/12/22/p233/081222_r18074_p233.jpgBailout amountsJob losses http://blogs.wsj.com/economics/2009/01/09/worst-year-since-1945-with-more-pain-to-come/trackback/More banks will fail http://blogs.wsj.com/marketbeat/2009/01/06/banks-credit-quality-expected-to-worsen/trackback/Decline in residential & commercial property markets http://online.wsj.com/article/SB123085781068147847.htmlUnemployment rate http://www.bls.gov/news.release/pdf/empsit.pdfOff the cliff REITs http://online.wsj.com/article/SB123067570012543757.html?mod=loomia&loomia_si=t0:a16:g2:r1:c0.034484:b0Stock market losses http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=ataVotdLreS0
  • SEC knew of Madoff scam since 1999 http://www.sec.gov/news/press/2008/2008-297.htm
  • Manning & Morris, The Ancient Economy p.86, cites Polanyi’s Great Transformation & Our Osolete Market Mentality for conclusion that society uses 3 main mechanisms to provide citizens goods & services
  • Ashraf Ghani estimated 90% of foreign aid in Afghanistan was wasted http://www.rawa.org/rebuild2.htmGeorge Ayittey http://www.utexas.edu/conferences/africa/ads/943.html
  • Wall Stats http://img297.imageshack.us/img297/5927/wallstatsdatlarge.jpgObama & Geitner http://www.zimbio.com/pictures/U2oCIv9xlmV/President+Obama+Makes+Remarks+Tax+Reform/xoHW6-BWX3I/Timothy+Geithner
  • SuperBowl http://www.nfl.com/superbowl/stats?type=teamBaseball http://mlb.mlb.com/mlb/stats/index.jsp
  • http://www.fivethirtyeight.com/search/label/today%27s%20polls
  • http://www.worldmapper.org/images/hires/322_ecol_footprint-ea-cart.tif
  • Swiss Silicon Valley Assn051109

    1. 1. Ethical banking and financenotfar out or far off…<br />Bruce Cahan<br />President, Urban Logic<br />Ashoka FellowStanford Center for Internet & Society(non-resident fellow)<br />Presented at <br />SSVA: Swiss Silicon Valley Association<br />Stanford University - May 11, 2009<br />© 2009 Urban Logic, Inc.<br />
    2. 2. What a difference a year makes<br />© 2009 Urban Logic, Inc.<br />
    3. 3. 2008 Hope & Change come to Washington<br />© 2009 Urban Logic, Inc.<br />
    4. 4. 2008 U.S. Housing Bubble, bursts<br />Triggering a global credit crisis<br />© 2009 Urban Logic, Inc.<br />
    5. 5. 2008 was a disaster, financially<br />U.S. lost 2.6 million jobs, the most since 1945<br />Now 8.9% Americans unemployed<br />Residential & commercial property markets collapsed 20%<br />Global stock markets lost $30 trillion (half their value)<br />U.S. stock markets lost $7.2 trillion<br />Foreclosures doubled<br />Banks slowed/stopped lending<br />$272 billion to bailout 315 banks<br />$152 billion to bailout AIG Insurance<br />25 U.S. banks failed<br />Another32 U.S. banks failed in 2009<br />© 2009 Urban Logic, Inc.<br />
    6. 6. Housing Prices Inflated Bank Stocks<br />© 2009 Urban Logic, Inc.<br />
    7. 7. Swiss Banks weren’t immune<br />© 2009 Urban Logic, Inc.<br />
    8. 8. U.S. Bailout exposed CRA : Odd Community Benchmark<br />© 2009 Urban Logic, Inc.<br />
    9. 9. 2008 was a disaster, ethically<br />U.S. Treasury demands TARP funds to help homeowners, without transparency<br />Banks & AIG use bailout funds to party, buy market share or pay bonuses<br />Car company executives jet to DC for aid<br />Bernard Madoff’s $50 billion Ponzi scheme abused the trust of Jews & non-Jews, capping 10 years when SEC failed to act<br />© 2009 Urban Logic, Inc.<br />
    10. 10. Shared ethical business roots<br />Man was placed on Earth to work & protect it (Gen. 2:15)<br />Thou shalt not steal (8th Commandment)<br />Thou shalt not deceive in business dealings nor “steal the mind” of any consumer or innovator (Geneivatda&apos;at)<br />Place no stumbling block before the blind, by temptation, advertising or commerce (Leviticus 19:14)<br />Provide neither the means or bad (self-serving) advice to commit sin (Sifra, Kedoshim, parshasa 2, perek 7)<br />Competition must be fair, spread out so “all fishermen have a chance to catch fish” (Gemara)<br />Interest must not impoverish the borrower (Lev. 25:35-37)<br />© 2009 Urban Logic, Inc.<br />
    11. 11. Economics societies leverage<br />Ways societies distribute goods & services:<br />Exchange supported by market mechanisms<br />Redistribution by centralized political structures<br />Reciprocity by institutions of kinship & friendship<br />© 2009 Urban Logic, Inc.<br />
    12. 12. 5/11/09<br />12<br />Intersections Inspired by TED<br />Our brains are prediction machines, based on taking in and storing experienceJeff Hawkins (Palm)<br />Our physics is built on the beauty of nested layers of simple relationships Murray-Gell Mann, physicist<br />Our society is built by seeing, acting on and communicating the meaningful in your life Tony Robbins, life coach<br />Simplicity sells David Pogue (NY Times technology critic)<br />Dignity means more than wealth. Patient capital means more than charity. Jacqueline Novogratz (Acumen Fund)<br />Democratization of content is the literacy of this generation. Lawrence Lessig (Stanford Center Internet & Society)<br />Our brains respond faster to threats, drowning out hopeful news & how to use it Chris Anderson (TED curator)<br />We need to learn how to listen to 3 billion new voices on the planet, living on $2/day Jan Chipchase (Nokia principal researcher)<br />Let’s build “public spaces” worth caring about, because life is lived locally James Howard Kunstler, urban design guru<br />I want what I can’t have. I need what I don’t want...My mind won’t stop. What I Want, sung by Nora York<br />Where are you now? Kiteflyer’s Hill, sung by Eddi Reader<br />
    13. 13. The Earth is ours, in trust <br />© 2009 Urban Logic, Inc.<br />
    14. 14. Our Planet is Semantic Fabric<br />Needs are real, but mapped retrospectively<br />Capacities are locally known, but unmapped<br />Money is a social fiction, unmapped, oddly purposely <br />© 2009 Urban Logic, Inc.<br />
    15. 15. A Simple 3-Layer World Map <br />Needs Layer – regional, indigenous, dynamic<br />Capacities Layer – regional, thematic, real<br />Money Layer – $ flows from here to there<br />© 2009 Urban Logic, Inc.<br />
    16. 16. Needs Layer<br />Gaps in Quality of Life<br />MILLIONS of viewpoints, apolitically<br />THOUSANDS of experts & NGO’s measures<br />An agnostic space, where statistics weighted by use & relevance to regionalism<br />= Sustainable Resiliency®<br />© 2009 Urban Logic, Inc.<br />
    17. 17. Capacities Layer<br />A Wikipedia® of Solutions<br /> indigenous to region<br /> or applicable to its Needs<br />© 2009 Urban Logic, Inc.<br />
    18. 18. Money Layer<br />Spatially-tag the money aimed at <br />Creating, redressing or anticipating Needs<br />or<br />Leveraging Capacities<br />© 2009 Urban Logic, Inc.<br />
    19. 19. Example: Foreign Aid<br />80% of foreign aid is wasted or untraceable<br />Too many hands handle aid money<br />No map exists of<br />Authorized foreign aid funds<br />Projects that foreign aid was supposed to fund<br />What aid money actually funded<br />© 2009 Urban Logic, Inc.<br />
    20. 20. Mapping Money<br />XBRL: eXtensible Business Reporting Language<br />coupled with <br />Location-Based Services<br />leading to <br />Describing social conditions (GRI) as $ impacts<br />© 2009 Urban Logic, Inc.<br />
    21. 21. After 9/11, we mapped functions<br />© 2009 Urban Logic, Inc.<br />
    22. 22. “Mapping” federal aid $ still elusive, unsemantic<br />© 2009 Urban Logic, Inc.<br />
    23. 23. We have better stats on Sports<br />© 2009 Urban Logic, Inc.<br />
    24. 24. We have better Stats on Politics<br />© 2009 Urban Logic, Inc.<br />
    25. 25. It’s time to map needs, capacities & money<br />Let’s improve local conditions,<br /> faster than they’re declining<br />© 2009 Urban Logic, Inc.<br />
    26. 26. After 2,000 years,the world has become<br />a harsher place, <br />faster, <br />without a brake<br />© 2009 Urban Logic, Inc.<br />
    27. 27. World Population (Year=0)<br />© 2009 Urban Logic, Inc.<br />
    28. 28. World Wealth (Year = 0)<br />© 2009 Urban Logic, Inc.<br />
    29. 29. World Population (Year = 1500)<br />© 2009 Urban Logic, Inc.<br />
    30. 30. World Wealth (Year = 1500)<br />© 2009 Urban Logic, Inc.<br />
    31. 31. World Population (Year = 1900)<br />© 2009 Urban Logic, Inc.<br />
    32. 32. World Wealth (Year = 1900)<br />© 2009 Urban Logic, Inc.<br />
    33. 33. World Population (Year = 1960)<br />© 2009 Urban Logic, Inc.<br />
    34. 34. World Wealth (Year = 1960)<br />© 2009 Urban Logic, Inc.<br />
    35. 35. World Population Today<br />© 2009 Urban Logic, Inc.<br />
    36. 36. World Birthrate Today<br />© 2009 Urban Logic, Inc.<br />
    37. 37. World Wealth (Year = 1990)<br />© 2009 Urban Logic, Inc.<br />
    38. 38. World Wealth (Year = 2015)<br />© 2009 Urban Logic, Inc.<br />
    39. 39. World Population (Year = 2030) <br />© 2009 Urban Logic, Inc.<br />
    40. 40. World Population (Year = 2500) <br />© 2009 Urban Logic, Inc.<br />
    41. 41. National Savings Rates<br />© 2009 Urban Logic, Inc.<br />
    42. 42. World Finance (Net Exporters) <br />© 2009 Urban Logic, Inc.<br />
    43. 43. World Finance (Net Importers)<br />© 2009 Urban Logic, Inc.<br />
    44. 44. The Undernourished (Year = 1990)<br />© 2009 Urban Logic, Inc.<br />
    45. 45. The Undernourished (Year = 2000)<br />© 2009 Urban Logic, Inc.<br />
    46. 46. The Blind, at birth or by disease<br />© 2009 Urban Logic, Inc.<br />
    47. 47. Peoples Affected by Disaster<br />© 2009 Urban Logic, Inc.<br />
    48. 48. Peoples touched by War 1945-2004<br />© 2009 Urban Logic, Inc.<br />
    49. 49. Urbanized, living in cities<br />© 2009 Urban Logic, Inc.<br />
    50. 50. Urban Growth<br />© 2009 Urban Logic, Inc.<br />
    51. 51. Biocapacity<br />© 2009 Urban Logic, Inc.<br />
    52. 52. Ecological footprint<br />© 2009 Urban Logic, Inc.<br />
    53. 53. Life Expectancy<br />© 2009 Urban Logic, Inc.<br />
    54. 54. We need more ethical banks<br />© 2009 Urban Logic, Inc.<br />
    55. 55. 2008 Credit Crisis unleashed talent<br />© 2009 Urban Logic, Inc.<br />
    56. 56. We spend too much.<br />© 2009 Urban Logic, Inc.<br />
    57. 57. We save too little.<br />© 2009 Urban Logic, Inc.<br />
    58. 58. We are credit ratings.<br />© 2009 Urban Logic, Inc.<br />
    59. 59. We are taxpayers.<br />© 2009 Urban Logic, Inc.<br />
    60. 60. We are consumers.<br />© 2009 Urban Logic, Inc.<br />
    61. 61. We work & earn $.<br />© 2009 Urban Logic, Inc.<br />
    62. 62. We are borrowers.<br />© 2009 Urban Logic, Inc.<br />
    63. 63. We are investors.<br />© 2009 Urban Logic, Inc.<br />
    64. 64. We donate to charity.<br />© 2009 Urban Logic, Inc.<br />
    65. 65. We live to shop.<br />© 2009 Urban Logic, Inc.<br />
    66. 66. Banks don’t help us live.<br />© 2009 Urban Logic, Inc.<br />
    67. 67. Banks help us shop.<br />© 2009 Urban Logic, Inc.<br />
    68. 68. We strive to be good.<br />© 2009 Urban Logic, Inc.<br />
    69. 69. We live multi-sided financial lives, <br />© 2009 Urban Logic, Inc.<br />
    70. 70. disconnected<br />© 2009 Urban Logic, Inc.<br />
    71. 71. so as to profit others.<br />© 2009 Urban Logic, Inc.<br />
    72. 72. OUR spending is destroying OUR planet.<br />© 2009 Urban Logic, Inc.<br />
    73. 73. Credit cards help us<br />© 2009 Urban Logic, Inc.<br />
    74. 74. spend<br />© 2009 Urban Logic, Inc.<br />
    75. 75. mindlessly, <br />© 2009 Urban Logic, Inc.<br />
    76. 76. regardless of impact.<br />© 2009 Urban Logic, Inc.<br />
    77. 77. Are banks ethical?<br />© 2009 Urban Logic, Inc.<br />
    78. 78. Too often, banks fund<br />© 2009 Urban Logic, Inc.<br />
    79. 79. pollution,<br />© 2009 Urban Logic, Inc.<br />
    80. 80. war,<br />© 2009 Urban Logic, Inc.<br />
    81. 81. poverty,<br />© 2009 Urban Logic, Inc.<br />
    82. 82. poor health,<br />© 2009 Urban Logic, Inc.<br />
    83. 83. subprime mortgages,<br />© 2009 Urban Logic, Inc.<br />
    84. 84. BIG BONUSES!<br />© 2009 Urban Logic, Inc.<br />
    85. 85. WHAT ABOUT ETHICS?<br />© 2009 Urban Logic, Inc.<br />
    86. 86. COULD A BANK BE ETHICAL?<br />© 2009 Urban Logic, Inc.<br />
    87. 87. Surely,a bank can be ethical!<br />© 2009 Urban Logic, Inc.<br />
    88. 88. An ethical bank would<br />© 2009 Urban Logic, Inc.<br />
    89. 89. have the integrity to admit & fix mistakes,<br />© 2009 Urban Logic, Inc.<br />
    90. 90. help, not hurt,<br />© 2009 Urban Logic, Inc.<br />
    91. 91. use credit to reward seeking ethical choices,<br />© 2009 Urban Logic, Inc.<br />
    92. 92. use financial services to grow sustainability,<br />© 2009 Urban Logic, Inc.<br />
    93. 93. reverse threats to indigenous peoples, cultures and regions.<br />© 2009 Urban Logic, Inc.<br />
    94. 94. I am building an ethical bank,<br />© 2009 Urban Logic, Inc.<br />
    95. 95. [see www.GoodBank.info/w]<br />© 2009 Urban Logic, Inc.<br />
    96. 96. starting<br />© 2009 Urban Logic, Inc.<br />
    97. 97. in Silicon Valley<br />© 2009 Urban Logic, Inc.<br />
    98. 98. and going to<br />© 2009 Urban Logic, Inc.<br />
    99. 99. NYC,<br />© 2009 Urban Logic, Inc.<br />
    100. 100. DC,<br />© 2009 Urban Logic, Inc.<br />
    101. 101. Miami,<br />© 2009 Urban Logic, Inc.<br />
    102. 102. Europe.<br />© 2009 Urban Logic, Inc.<br />
    103. 103. We will use technology<br />© 2009 Urban Logic, Inc.<br />
    104. 104. to <br />© 2009 Urban Logic, Inc.<br />
    105. 105. harmonize data into<br />© 2009 Urban Logic, Inc.<br />
    106. 106. Sustainable resiliency®<br />© 2009 Urban Logic, Inc.<br />
    107. 107. as a regional credit rating,<br />© 2009 Urban Logic, Inc.<br />
    108. 108. The Means Meter®<br />© 2009 Urban Logic, Inc.<br />
    109. 109. to help shop ethically,<br />© 2009 Urban Logic, Inc.<br />
    110. 110. Procurement visualization<br />© 2009 Urban Logic, Inc.<br />
    111. 111. so social entrepreneurs<br />© 2009 Urban Logic, Inc.<br />
    112. 112. and nonprofits<br />© 2009 Urban Logic, Inc.<br />
    113. 113. can compete for<br />© 2009 Urban Logic, Inc.<br />
    114. 114. government contracts,<br />© 2009 Urban Logic, Inc.<br />
    115. 115. and other technologies<br />© 2009 Urban Logic, Inc.<br />
    116. 116. like FaceBook® & Wikipedia®<br />© 2009 Urban Logic, Inc.<br />
    117. 117. so ethical people<br />© 2009 Urban Logic, Inc.<br />
    118. 118. can use money to<br />© 2009 Urban Logic, Inc.<br />
    119. 119. see and reach<br />© 2009 Urban Logic, Inc.<br />
    120. 120. their ethical goals<br />© 2009 Urban Logic, Inc.<br />
    121. 121. TODAY!<br />© 2009 Urban Logic, Inc.<br />
    122. 122. earning<br />© 2009 Urban Logic, Inc.<br />
    123. 123. cash-back rewards<br />© 2009 Urban Logic, Inc.<br />
    124. 124. cheaper interest rates<br />© 2009 Urban Logic, Inc.<br />
    125. 125. while helping to grow<br />© 2009 Urban Logic, Inc.<br />
    126. 126. social enterprises &<br />© 2009 Urban Logic, Inc.<br />
    127. 127. sustainable resiliency®<br />© 2009 Urban Logic, Inc.<br />
    128. 128. in regions they cherish.<br />© 2009 Urban Logic, Inc.<br />
    129. 129. We will use<br />© 2009 Urban Logic, Inc.<br />
    130. 130. Semantic Web<br />© 2009 Urban Logic, Inc.<br />
    131. 131. Mobile Web<br />© 2009 Urban Logic, Inc.<br />
    132. 132. financial literacy tools<br />© 2009 Urban Logic, Inc.<br />
    133. 133. across the SC: Eco<br />© 2009 Urban Logic, Inc.<br />
    134. 134. [Social Capital Ecosphere].<br />© 2009 Urban Logic, Inc.<br />
    135. 135. Our bank branches<br />© 2009 Urban Logic, Inc.<br />
    136. 136. will feel different.<br />© 2009 Urban Logic, Inc.<br />
    137. 137. Instead of human ATMs,<br />© 2009 Urban Logic, Inc.<br />
    138. 138. our branches will feel<br />© 2009 Urban Logic, Inc.<br />
    139. 139. like Apple® Stores <br />© 2009 Urban Logic, Inc.<br />
    140. 140. where friends seek<br />© 2009 Urban Logic, Inc.<br />
    141. 141. financial literacy<br />© 2009 Urban Logic, Inc.<br />
    142. 142. to see, learn & improve social impacts.<br />© 2009 Urban Logic, Inc.<br />
    143. 143. An ethical bank<br />© 2009 Urban Logic, Inc.<br />
    144. 144. incubates change.<br />© 2009 Urban Logic, Inc.<br />
    145. 145. We are surrounded by change agents:<br />© 2009 Urban Logic, Inc.<br />
    146. 146. Ashoka<br />© 2009 Urban Logic, Inc.<br />
    147. 147. IDEO<br />© 2009 Urban Logic, Inc.<br />
    148. 148. McKinsey<br />© 2009 Urban Logic, Inc.<br />
    149. 149. Hill & Knowlton<br />© 2009 Urban Logic, Inc.<br />
    150. 150. Promontory Financial<br />© 2009 Urban Logic, Inc.<br />
    151. 151. Weil Gotshal & Manges<br />© 2009 Urban Logic, Inc.<br />
    152. 152. Please join us.<br />© 2009 Urban Logic, Inc.<br />
    153. 153. Questions?<br />© 2009 Urban Logic, Inc.<br />
    154. 154. Bruce Cahan bcahan@urbanlogic.org<br />Wiki: Goodbank.info/w<br />© 2009 Urban Logic, Inc.<br />

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