Your most recent post points out the ‘execute’ part of the web equation in relation to the technology being created in the past few years. Do you think it is possible that this type of modular information dissemination could possibly play a role in our economic recovery?

It’s kinda like laying cables in the 90s. Most people probably second guessed it the moment the bubble burst, and maybe even accused technology (possibly rightfully so) for our economic woes in the early 90s. Right now a lot of this probably looks like we are wasting our time on shiny new toys instead of fixing the broken plumbing, but sometimes even frivolous innovation bears fruit that is usable in the years to come. Big spenders like Hoover, Reagan, and others pissed off the world, until everybody realized how much we benefited from those expenses later down the road. Think Hoover Damn, NASA, Space Wars, etc. All ended up having game changing implications down the road that were not realized in the generation they were developed.

I’m hoping and thinking that, the shiny toys we develop now will lay the ground work for some more game changing, economy quickening innovation that will benefit our kids.

Of course, this is just speculation. But I think our hyper connectivity and granularity might end up being a big asset in speeding up economic recovery once some of our broken bones mend from the housing and finance fiasco. Maybe it’s wishful thinking, but at least it helps me sleep at night. :-)

If I had the time I’d organize a BarCamp with the theme “No one cares about your crappy web app!” and further drive home the idea that what we need right now is not more followers, friends and twitter clones, but pure unfettered INNOVATION.

Many budding web entrepreneurs come to every month for insight into what they’re working on and 99% of the time I tell them “No one will care. You’re planning to build a crappy web app that won’t change any one’s lives.” The other 1% I introduce to really smart people and investors who can make their dreams come true.

rant

Recycled Marxism is not innovation, nor is Keyensianism innovative today. Not all innovation is obvious right away, nor is it always useful until coupled creatively with other, later innovation (building blocks, above.)

Patience. Tech will deliver. It always does, given a chance.

With that said, I agree that the more creative we are the better we can stimulate our economy and improve our overall power as a country and world, and we need to be smart and talented to do so. We should never rely on a president to fix everything, they are in charge of signing bills in to law, protecting our country and providing oversight to citizen’s personal needs – but it’s up to us – the citizens to decide whether our economy succeeds… If we are all lazy and not innovative, we will go nowhere. If we are more creative, talented and entrepreneurial – we will go to the moon

As far as true innovation, I think it is still going on, but it gets buried beneath features meant to make the mainstream people feel comfortable. Truly new ideas, however they stimulate the economy in the long run, aren’t generally accepted by the mainstream when they are introduced.

In order to create economic value, first we have to create what we call “intangible assets” in the sense of social capital, knowledge, health, etc. (For support on this, see in particular the work of Baruch Lev at NYU (Stern School).

What web 2.0 is doing is facilitating the creation of those intangible assets.

Sure it’s also doing things like glorifying pretty celebrities, but overall there is genuine importance.

The overall economic growth payoff will be lagging a bit, say a few years. But if we don’t create these building blocks now, we won’t have economic growth later.

As to your specific point about advertising: I’m the Director of Communities at thegroupery.com and one of the things we’re doing as a socially entrepreneurial company is looking how to rebuild relationships between local businesses and the non-profit groups (e.g. PTAs) that they support. That’s not really advertising, it’s sponsorship; but the effect is similar: Billy’s dad runs a restaurant. Tiffany’s mom does bookkeeping. Sam’s parents own the local pet groomer’s.

-Jessica Margolin

It seems as if all the itches have been scratched and there is no where left to turn. I think what we need in the tech sector is not just mere innovation, but a revolutionary change. We need to look beyond the existing technologies and come up with something that is new. Obviously it’s untested, but that’s the entrepreneurial spirit. Bill Gates didn’t know what was going to happen, Steven Jobs didn’t know either, but they built their dreams and we got this personal computer revolution out of it.

Maybe I’m just muttering inane nonsense, but I do believe strongly that the only way for the tech sector to help is to cut through all that already exists and come up with something new.