Some days the new world order just plumps itself down in front of you like an overweight chook… So today while scraping Tim Mazzarol’s fabulous co-operative and mutual database (here), I got to thinking about what was going on here.
The website gives access to the most complete list of co-operatives and mutuals in the country. It is all publicly available. And yet, the developers didn’t make it easy to download the database.
Why create the artificial barrier? Perhaps there is some residual sense of ownership of the data. Perhaps it’s an attempt to make the site a destination for accessing the data. It’s a little hard to know.
The thing is that this approach is all back-to-front. It’s the kind of thinking that gave us CRM’s that pretend that customer data is something you own. It is not the way the emerging data-driven culture works.
We are moving to a world where we choose to share data. It becomes an asset that we control – we need to be motivated to share it (even if it means agreeing to your capricious terms of service Mr Zuckerberg).
There is an opportunity in this. At incubator.coop, we have been working on developing a co-operative operating system. A software-as-a-service model that will enable coops of whatever size to access an integrated website, member engagement app, and share registry. It’s intended to be a co-operatively owned solution for the co-operative sector.
Now here’s the thing. Very much like painting the Sydney Harbour Bridge, the CEMI database is out-of-date by the time it is finished. It relies on the collection of static data. At its simplest however the coop mgt system offers a way for coops to share their data. They can choose what data they share to create a dynamically updating database that is truly open for anyone to use. And open, accessible data – that is shared by those that control it – is the way value can be created in the new world order.
Back in 1998 as a part of a Masters in International Politics, I wrote an essay on monetary unions and the future of the Euro. At the time convergence trades were all the rage and the soon-to-be members were busy pretending they were complying with their Maastricht treaty obligations. The essay’s conclusion was that the Euro would not long survive its first test.
History clearly demonstrates that a monetary union will fail without a common political will. The Euro has never achieved political union.
So the Euro stumbled through the private debt crisis of 2008 on the back of central bank largesse. This lead to a global socialisation of the massive debt binge that had accumulated through the mortgage and credit markets. But while the ECB. like most its central banking peers, was busy engorging its balance sheet there was still no consolidation of debts, each nation-state remained it own issuer.
So now we are approaching the next debt crisis – a result of 10 years of zero interest rates where the private sector has been encouraged to re-leverage, valuation multiples are back to all-time highs, and now the central banks are carrying impossibly large balance sheets. The sensitivity of the system to rising interest rates is acute.
And we have a Euro-land dominated by one very large creditor and quite a few large debtors. To date, the creditor has won out, forcing ‘internal devaluation’ on their partners. But the next stage of the sovereign debt crisis is unlikely to play to that script. You can already see capital flight out of Italy through the Target2 balances. The only palatable way out of this mess is to inflate your way out of debt – and the Italians have the keys to that locker. Beware the vagaries of capital in a hurry to find an exit…
During this new stage of the depression, the refugee gold and the foreign government reserve deposits were constantly driven by fear hither and yon over the world. We were to see currencies demoralized and governments embarrassed as fear drove the gold from one country to another. In fact, there was a mass of gold and short-term credit which behaved like a loose cannon on the deck of the world in a tempest-tossed era.
Herbert Hoover, Memoirs, Volume II, Chapter 7, page 67
So I’m in the ‘other’ demographic – the over-50 category – the one that has only one book-end. My teenage son offered some consolation, “No dad – you are in the 40 to 65 bracket, next comes the Integrity or Despair stage…”
I was introduced to the concept of Ikigai this week. It’s our reason for being.
It’s not a big word. It’s used in everyday conversation in Japan. “My dog is ikigai”, or “Mini-me you-complete-me” (if you are an Austin Powers fan). It is understood as a lived experience where the strands of your being are in harmony.
Being a little prone to extremes, I’ve explored the outer edges of my venn diagram. The “What you can be PAID FOR” is the trickiest to navigate. Money can confuse things.
One of the challenges with a coop is that the mission can dominate. This creates an unsustainable model for many a coop as it assumes that those involved can survive without compensation.
We need our cooperatives to be ikigai.