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Steve Faktor
Works at Author of Econovation; Founder at IdeaFaktory
Attended New York University Stern School of Business
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Steve Faktor

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Reality starting Europe in the face. From the Economist.

"By 2060, the EU’s population will be in absolute decline. There will be just two workers for every man or woman over 65, compared to four today. If Europeans want to continue to fund the generous health care and pensions they have awarded themselves, then in the absence of a hitherto concealed fondness for procreation they will have to attract more workers from abroad. But that is a hard sell when wages are stagnant and unemployment high."

#Europe #economy #jobs #immigration
THE European Union faces an ocean of troubles, from the integrity of its currency to the security of its neighbourhood. Yet none presents as bewildering an array of...
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Steve Faktor

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Why do tiny clear bits of plastic cost so much? Contact Lens Price Fixing: Why Costco, 1800-Contacts Can't Discount.
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Excellent charts from NPR's Planet Money: How Machines Destroy & Create Jobs

http://n.pr/1AbCDJo
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Steve Faktor

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Putin is slowly morphing into Kim Jong-il. Dear leader can do it all. They'll never find the first goalie who blocks one of his shots.
Nobody is saying Vladimir Putin isn't one of the world's most gifted athletes - but he profited from some atrocious defending to score eight times in a gala match.
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Which is pretty terrifying BTW, because unlike Kim, who mostly still doesn't have the nukes (but wants them badly...), Putin already has them aplenty...
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There's much to like about expanding free trade. Commerce cripples despots, lifts people out of poverty and intertwines us. It gives economies mutual interest in each other's success - or fear our partner's failure.

The biggest fear among rich economies and workers is any job that can be done for less outside the US, will. That's true but the answer for deals like TPP lies not in limiting trade, but in:
1) Improving transparency
2) Anticipating impact on jobs.
3) Creating a transition plan towards a system where jobs are not the norm, robots are. It doesn't have to be this scary.

- Inspired by this excellent piece by Fareed Zakaria: http://bit.ly/1Hh8TKp
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+Steve Faktor Free trade is fine. The TPP is not about free trade; it's about managed trade for the benefit of large corporations -- and almost only large corporations. See my post (https://goo.gl/uDa9SX) summarizing the piece by Joseph Stiglitz.
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Let's face it, nobody likes competing on equal footing. Not when you have the kind of weight to throw around that #Apple does. Expect all kinds of shenanigans to cripple not only Spotify​ and other #music players but any company that gets too popular with a competing service on #iPhone or #Google's #Android. http://thebea.st/1PnqHFD

If your company relies on 3rd party platforms, you must read "Surviving Platform Risk"​: http://bit.ly/1PnqFxD
A new report says Apple is trying to end Spotify’s free streaming option—and displace about three-quarters of its users along with it. The DOJ is trying to stop it.
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Excellent charts from NPR's Planet Money: How Machines Destroy & Create Jobs

http://n.pr/1AbCGot
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#Competition #Capitalism #Irony
Governments Giving Fossil Fuel Companies $10 Million a Minute: IMF
The fossil fuel industry receives $5.3 trillion a year in government subsidies, despite its disastrous toll on the environment, human health, and other global inequality issues, a new report by the International Monetary Fund (IMF) published Monday has found.
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Awesome work John Oliver is doing. Combining comedy and activism on meaningful issues is no easy feat. Kudos.
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+Steve Faktor thanks. As someone living in Europe and without a TV, I forgot that HBO isn't primarily advertisement driven.
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There's much to like about expanding free trade. Commerce cripples despots, lifts people out of poverty and intertwines us. It gives economies mutual interest in each other's success - or fear our partner's failure.

The biggest fear among rich economies and workers is any job that can be done for less outside the US, will. That's true but the answer for deals like TPP lies not in limiting trade, but in:
1) Improving transparency
2) Anticipating impact on jobs.
3) Creating a transition plan towards a system where jobs are not the norm, robots are. It doesn't have to be this scary.

- Inspired by this excellent piece by Fareed Zakaria: http://bit.ly/1Hh8VlE
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+Alex Schleber​ I agree, but aren't all trade deals secretly negotiated? Has anyone compared it to the history of how NAFTA was done? I know every nuclear and military deal was done in secret. 
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Your phone is a tracking device that feeds information to Google, Apple, mobile networks, app makers, data brokers, advertisers, etc. Let's add employers to that list. Should employers be able to track employee movements 24/7? http://bit.ly/1Iyji7F

#jobs #work #mobile #data #privacy
A woman in California claims to have been fired from her job after uninstalling an app on her smartphone that her employer used to track her movements 24 hours a day. Myrna Arias, a former employee...
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Wow!  No Way!
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This, +Alex Schleber, you can definitely worry about.
Echoes of the past as Moscow's Victory Day parade stirs memories of a previous anti-American alliance
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Crazy or frightened/threatened. 
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Author of Econovation | Founder of ideafaktory | Ex-head of American Express Chairman's Innovation Fund
Introduction
Thanks for visiting. I'm founder of startup incubator IdeaFaktory, author of Econovation (Wiley), and ex-head of American Express Chairman’s Innovation Fund. I've also led innovation and strategy at Citi, Mastercard and Andersen.  Along the way, I've created some very cool (and profitable) innovations in payments, loyalty and mobile. I write for Harvard Business Review (among others), do global keynote speaking, and advise companies on new growth opportunities.

Looking for Budding Startups & Developers 
Before I forget - I'm actively advising and developing several startups and using my network to get them financed and connected with corporate partners.  I am also looking for qualified developers, co-founders, and entire teams (possibly on the downswing of a startup) to partner with me on some amazing businesses I'd like to bring to market.   

On Google+
I don't post very often, but when I do, it's usually original ideas with a dose of humor. You'll definitely want to subscribe!

For innovative ideas, you should subscribe to the +IdeaFaktory page.

For more economics-flavored posts, please subscribe to the +Econovation page.

You may want to consider me for circles about:


Thanks and look forward to connecting with you on G+! 

Steve 
Education
  • New York University Stern School of Business
    Economics & Accounting
Work
Occupation
innovation, strategy, emerging technology, digital, payments, finance, economics
Employment
  • Author of Econovation; Founder at IdeaFaktory
    Founder, present
  • American Express
    Vice President & Head of Chairman's Innovation Fund
  • Citigroup
    Senior Vice President, Growth Ventures & Innovation
  • MasterCard
    Vice President, Product Strategy & Change Management
  • Andersen Worldwide
    Manager, Advanced Technology Services (Consulting)
  • Razorfish
    Manager, CRM and eCommerce Strategy