Rantings and tirades of a frustrated economist.
We should stop valuing stocks based on the money companies make and start valuing them by the number of likes they get on Facebook.
Meh.I can see this technology having benefits ( and drawbacks) but I agree with you Captain, assigning value to it is smoke and mirrors and wishful thinking.I have a similar product problem at work, I install very quantitative oriented software for corporate finance and accounting staff.Everyone who sees it wants it and everyone is 100% sure it makes their lives easier, and their reporting, analysis and budgeting much more effective and efficient.We even have examples on how people produce analyses, reports, and close books and so forth MUCH quicker than before.That being said: ROI? ahahahah ZERO way to define that quantitatively because once the staff has the tool they go on to do less busy work (extracting and reconciling numbers) and do more actual work.So yeah it's great, but even in this little corner of the world where we're all huge numbers geeks; we can't quantify, other than anecdotally, the benefits of the software product.And they are sticking a number to social media. HAH!
LOL...they had to make up a value for it to mitigate the loss of productivity it has already caused in the work place. So maybe now its breaking even, eh?
I thought you might like this anecdote, Cappy. I work for a certain media publication company, whose name I won't mention. Last quarter we posted our first (slight) profit since 2008...this quarter is not looking so hot. We found out this week that we will be experiencing furloughs in August. Lots of sad faces around the place. Herr Wilson knows better. Herr Wilson knows that this publication alienates half its potential readership with biased journalism. Herr Wilson also knows that this publication didn't thoroughly vet Obama in 2008 and hasn't been critical of him since. As a result, people are are poorer and are now having a hard time purchasing subscriptions. Finally, the publication must deal with greater regulations, higher taxes and increased healthcare costs because of Obama's policies.These people still don't get the connection and I have no sympathy for them. I gave up caring long ago. Eff them all. They deserve mockery and nothing else. BTW...Since you are a man of exquisite taste and style who enjoys cigars. Could you do a post about cigars? Maybe just throw out the names of a few good cigars for the newbies?
McKinsey is the root of all evil. Look at how former McKinseyites have ruined companies and ecrewed companies into the ground with poor advice.
I agree with #2.Search engines and online instruction have utterly changed my life. I can do just about anything.I'm an electrician, a mechanic with the service manual, a draftsman. If I wanted to be an Economist, you and yours would show me how. Math isn't a problem because MIT and other universities give the their classes away. Check out iTunes U. It's all available on my iPad.The internet can't teach me Ballroom Dancing, but I found the closest instruction within minutes. ASL wasn't a problem though.Honestly, there is no longer a reason to have national public education anymore. Certification, yes. Almost all the rest can go.But I'm autodidactic.Just as these incredible technologies have appeared, the product of the US education system has too. The irresistabe force of Wikipeidia and Youtube has met the demoralized immoveable couch potato.I've heard "I can't do that. Nobody has shown me how" so often that I wonder if I've left the human race or did everybody else.
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