We are also notoriously bad at evaluating the merit of our own ideas. Most people fall trap of anillusory superiority that causes them to overestimate their creative talent, just as in other domains of competence (e.g., 90% of drivers claim to be above average — a mathematical improbability). It is therefore clear that we cannot rely on people’s self-evaluation to determine whether their ideas are creative or not.
Yet there are relatively well-defined criteria for predicting who will generate creative ideas. Read more here:
Contagious Entrepreneurship: People Who Know Entrepreneurs Are More Likely to Become Entrepreneurs, Kauffman Foundation Survey Shows
A report on new potential uses of ‘crowdfunding’ – raising a large pool of money from many small contributions online. Thanks to the bipartisan JOBS Act entrepreneurs will soon be able to use this method. Supporters think the it could be a key to spurring economic growth and job creation. But is it a good idea for investors?
So what does our equation look like now? More like 2(a + b) x 7(c + d) / (e x 5) = f. Please Excuse My Dear Aunt Sally! It might be time to brush up on our middle school algebra lessons and revisit the PEMDAS method for solving this order of operations. (By the way, submissions for a killer New Leaf version of the PEMDAS acronym are now being accepted).
These concepts all stem from a book called The Rainforest: The Secret to Building the Next Silicon Valley by Victor Hwang and Greg Horowitt. The authors are experts at the intersection of venture capital and global development who propose a new theory to explain the nature of innovation ecosystems. They recognize the value in human networks and emphasize that available resources are not enough to form an efficient system; rather, the manner in which these resources and individuals interact and work together is what makes a network viable and successful.
So how does this perspective relate to the culture we are creating at New Leaf? We recognize that, like a rainforest, our community has a diverse set of inputs in the form of talent, ideas, and skills that, if integrated properly, have the potential to create some pretty awesome things. So we are establishing our culture so that it provides the outlets for these human networks to flourish. We believe we can create our own thriving rainforest in the Centre region. It will be our job to build connections and relationships that transcend various disciplines, generations, and sectors and contribute to a diverse innovative ecosystem that avoids the pitfalls of social barriers. The secret recipe of Rainforests is about people and how they interact with each other.
Read more here… http://www.citystatebiz.com/creating-an-ecosystem/
Xi’s Plans to Shift From Growth-at-Any-Cost Strategy as Big a Factor as Economic Conditions
BEIJING—Chinese President Xi Jinping‘s plans to shift the economy away from a growth-at-any-cost strategy means that China’s GDP rise over the coming year will depend as much on political decisions as on economic conditions at home and abroad.
After China said Friday that its third quarter GDP growth accelerated to 7.8%, year over year, from 7.5% in the prior quarter, Chinese officials said the country would have trouble sustaining the faster pace. Read more following this link…
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This research offers potentially new insights for economic development, specifically for understanding the geographic clustering of talent and innovation. The study suggests “part of the reason why certain regions of the United States are economically vibrant may have to do with the psychological characteristics of residents.” This helps explain the cluster of innovative and creative activity in places like Silicon Valley, San Francisco, New York and Boston.