Bring us your talent and work ethic! 

Across the U.S. there's been a roar of dissent about immigration issues, as politicians and citizens alike have taken up the charge. Much of it is very well-founded given the strain that immigration puts on our social systems and in some cases the crime that results from a larger underclass. No doubt some bold solutions are needed.
But then the debate often veers off into the extreme and that's where logic seems to be abandoned. Too many individuals with whom I have crossed paths are ready to close the borders and keep all the "foreigners" out of our country. This is not ethically viable nor is it commercially practical.
I think we all recall enough history to realize that it is immigration that has made this nation great, as people from all over the planet have some here to pursue a better life through hard work, education, and a willingness to take risks. Unless any of the naysayers carry 100% Native American blood in their veins (in which case I retract any criticisms), I'm not sure how they think they got to be here. Had prior generations been of similar mind, most of us would not be here.Yes, times have changed and we no longer boast wide open spaces waiting to be settled. So some curbs and due process are needed. But our profile in the world is not going to improve beyond the pitifully low current point by painting a big KEEP OUT sign.
Moreover, unemployment is very low in most parts of the country, there are tons of jobs in certain sectors that are hard to fill, and it is clear that the big ideas and the entrepreneurial spirit to pursue them is stronger elsewhere than it is here. We need good people who bring  ambition, diversity, a strong work ethic, and bright intellects. Shutting the door will contribute to further erosion of our economic vitality. If that happens, the future begins to get bleak. We can TALK about global markets and free trade all we want ... we need to ACT like we mean it. 

Get ready for verticalization ... again

It happened in retail, it happened in print, it happened in television. And it will happen in digital as well. Vertical markets will emerge and successful companies will be ready.

It has to do with how humans are wired. We aren't good at organizing our tasks, our errands or our interests across the gamut and then aggregating things by category later. We begin with categories. When I want to check out the latest in scuba diving and find some great new ska music, I don't want to go to one site and get the scuba and ska videos and then go to another to get scuba trips and ska festival information. I want to go to a site where I can check out scuba gear and resort ratings in one place. And then I want to find a site with the latest ska releases, background on the bands, and tour and festival info.

So despite all the concerns about the horizontal platforms that dominate at the moment, I think this movie is far from over. These platforms are hot because they are new and have truly brought innovation to us. Keep in mind that none have proven to really be able to muster much of a revenue model, as right now it's basically a fight for ad dollars. When customer value starts to become more important, and that is starting to happen, we'll see some shifts.

Either they will adapt into thousands of smaller communities sharing the same platform or a new generation of providers will take over. Just like the cable channels that replaced the Big 3 and the malls full of  boutiques that supplanted the local department store.

Better get ready now because it will happen a LOT faster this time around.

In the digital economy, people skills still rule

During a recent industry panel discussion about shifts in publishing, the question was posed “What are big companies doing wrong?” It's a people thing and I don’t think the question was restricted to traditional media companies. After the recent changes at Yahoo, Jerry Yang specifically mentioned a return to focusing on people as a key element of what’s in store, a good thing given the recent exodus of talent there.

In an industry where technology stands front and center, where capital is flowing, and where innovation proceeds at a breakneck pace, it’s easy to get caught up in matters of strategy and finance and to leave the last leg of the stool unattended. In the end, success still rests with people - talent, motivation, and collaboration.

The newcomers have a decided advantage in this regard. They had no status quo to shatter before they could get underway. They started companies fueled by individuals seeking to have an impact. Yes, there were riches to be sought as well but those don’t materialize for a while. In the meantime, it’s the flow of ideas, the buzz, and the leadership that makes all the difference.

Large companies, especially public ones, face a lot of inertia reinforced by years of counterproductive pressures imposed by financial markets and regulatory measures. We’ve heard plenty about quarterly profit expectations institutionalizing short-term thinking and Sarbanes-Oxley paralyzing decision-making. Taken together, these developments have forced large companies to do anything possible to take every last drop of risk and variability out of the business.

And people, because they are people, are a significant source of risk and variability.

So decision-making is now ruled by well-documented formulas and decision matrices. New ideas must face a daunting series of internal hurdles before getting any consideration. And business leaders talk about “people” but spend all of their time thinking about anything but. Granted, some of this was necessary but not the loss of consideration of the centrality of people in any circumstance, doubly so against a changing, fast-paced, idea-driven landscape.

Until some priority is restored to ideas, inspiration and impact and leaders who understand this are installed and encouraged, the big companies will continue to struggle. Everything else may be changing – the one constant is what makes good people tick.

First things first … Conversion before Traffic