For consumers in mature markets, the financial technology boom doesn’t seem very exciting. What they’ve seen so far is technology that shaves a few minutes off an efficient process, such as being able to deposit a check by taking a picture of it instead of going to the ATM. But for parts of the world where people still buy and sell things with banknotes, the FinTech boom is likely to be a major event with important economic consequences.
From the crash of 1929 to around 1981, banking was generally considered a fairly dreary business. And between now and 2025, banking seems likely to undergo a digitally driven transformation that will change how we save, spend, borrow and invest. Even as regulators do their best to try to make banking a boring business again, and politicians still vow to rein in the “banksters”, a number of well-financed start-ups look poised to reinvent almost every aspect of finance—and could even make banking sexy once more. First we look at how regulators’ push and FinTech’s pull may be setting the stage for some dramatic changes.
The sharing economy has gone from being a niche idea most familiar to Silicon Valley insiders to one that has reshaped our lives—you’d be hard pressed to find a city dweller who hasn’t at least taken an Uber or stayed in an Airbnb. But for all that expansion, the ideas underpinning it are not so well understood, a fact routinely demonstrated in the often fraught debates concerning what the sharing economy means for workers’ rights, traditional incumbents and the role of regulation. Rachel Botsman, co-author of What’s Mine is Yours: How Collaborative Consumption is Changing the Way We Live, explains the intricacies of this still nascent phenomenon.
About 15 years ago, Brian Robertson was feeling frustrated with the management hierarchy traditionally used by companies. He felt it had a tendency to stifle innovation, create inefficiencies and prevent individuals from fulfilling their potential. Robertson channeled that dissatisfaction into the development of one of the best known self-management systems, Holacracy, something that has been adopted by the likes of Tony Hsieh, CEO of online shoe retailer Zappos. In this interview, Robertson, the author of Holacracy: The New Management System for a Rapidly Changing World, clears up some of the misconceptions and gives an overview of Holacracy.
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