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What took place with the economy? It Moved

December 3, 2022 by superuser

While the effects of the mortgage meltdown, derivatives, inflation, credit issues, and a war-based economy are beginning to be felt in the United States, Germany has taken the lead as the world’s top exporter of goods as of this past year, or, more colloquially, “the export leader.” Gross Domestic Product (GDP). Yes, quaint Germany.

The typical German worked 35 hours per week up until 2005. While taking a six-week summer vacation, the majority of Europeans are paid for a 13-month work year. With 83 million people, Germany became the world’s top exporter in less than two years after the government and labor union party changed the official workweek to 40 hours. Calculate how much the GDP has decreased since the United States, with a population of 350 million people (citizens and non-citizens combined), slipped into second place. The output in the United States is inefficient. With a population in the billions and just entering the industrial age, China will soon surpass everyone. Sorry, Governor Schwarzenegger, but California is no longer the world’s sixth-largest economy because we only produce military hardware and construction supplies for the rest of the world. The United States will now have a service-based economy.

Additionally, over the past two years, Germany transformed into Europe’s largest e-commerce market. Germany contributed 30% of the 438.7 billion Euros in online sales revenue. In addition, with 56 million Internet users out of a total population of 83 million, Germany has the highest percentage of Internet users in Europe.

That certainly indicates success. Try contrasting that with the depreciating US dollar to get the picture. Digital money is the big money we’re discussing. Europe anticipates 779.8 billion in 2010.

A shift is taking place that cannot be seen with the naked eye, even though a large portion of our population is complaining about globalization (which they cannot stop). The bottom line does not account for a sizable portion of the global economy…yet. It relates to the online economy. It’s socializing that I’m referring to, not buying and selling.

The focus these days is all on Facebook, but let’s look at Massively Multiplayer Online Role Playing Games (also known as “MMORPGs”). MMORPGs) where players can simply hang out and chat, play, or engage in combat with players from around the globe. The names World of Warcraft, EverQuest, and Half Life are ones that many of you are familiar with. Second Life is the more subdued, yet equally thrilling, online pastime. The term “Metaverse” refers to any online environment where people can build homes, get married, and pursue careers that would be unattainable in the real world. One can develop their skills in Second Life and become the next great event planner, developer, or fashion designer. This has already occurred; the past tense is deliberate. It is not hypothetical.

It costs just under $11 per month to access this online world. But I don’t want to discuss subscription-based revenue right now. The Second Life virtual economy is what I’m concentrating on. Their currency is the Linden dollar, which can be converted to real money in some way via PayPal. I think one US dollar is equal to three Lindens. (The currency exchange could be 1:1 if the dollar continues to decline. Clothing, the building of new homes, and even avatar upgrades are all services that people pay for. The people who live in Second Life pay a lot of money to build a fantasy life in which they can pursue careers and live lifestyles that are not easily available to them in the real world. Monthly revenue from this virtual economy is $15 million!

I’m sorry, but what’s even more incredible is that I’m using data from a year ago! $15 million per month! Who knows how much it has expanded since the previous estimate.

Well, the economy has changed, and most Baby Boomers find this absurd. While it cannot be seen, it is completely comprehensible to people born after 1985. These are the generations that grew up with both video games and the Internet. They naturally engage with a global community and can communicate with them in a virtual setting. These youth are not exclusively focused on America. Long after they finished college, boomers began to learn computer skills.

The second issue is that, for the most part, Boomers, of which I am one, view gamers as geeky teenagers hiding out in their bedrooms. Contrary to popular belief, over a third of gamers—both offline and online—are female and are on average 33 years old. So the majority of today’s vice presidents, managers, and employees spend their free time playing video games. And here it goes: “The connection between this and leadership, Brad?”

A sizable portion of your workforce is engaged in gaming, shopping, and creating in an online environment that requires logging in order to access. The ease with which people can use technology is a major force behind globalization and enables management without borders. The ability to access servers, data, and personnel regardless of location is known by digital natives as virtualization.

Considering that your key personnel are dispersed across five continents, how will you manage morale, productivity, or the essential face time? Technology is the solution, but more importantly are those who can manage both people and technology simultaneously. In order to be competitive, every organization must operate locally while thinking globally. Therefore, it doesn’t take a genius to understand that managing a virtual workforce will be one of the trends of the future. In reality, it has already begun as IBM constructs pavilions in Second Life for the sole use of their personnel and clients, in addition to a sizable presence in Torque. Furthermore, this is outdated, my friends.

Managing virtual employees in a Metaverse like Second Life or Torque raises two questions for the future of business. And if manufacturing is a construct of the Industrial Age to gauge output in relation to the total labor force, how will GDP or ROI in the future be calculated and converted into real world currencies? Traditional leadership techniques and branding don’t translate well online. As we cross the great divide from the Industrial Age into the Information Age, a new primer must be created that is applicable to all cultures, all borders, and all types of currencies.

In this new world, what will constitute Best Practices? Time will tell.

Thanks for reading,

Brad Szollose

The term “avatar” refers to a graphic representation of oneself used in virtual reality worlds. the One’s Avatar can take on the appearance of anyone or anything they choose, though it need not be a precise replica. Online gender swapping is possible, as well as changing any other game-related settings that the player chooses for their Avatar. A female hacker altered the game’s source code shortly after EverQuest’s release to add pink armor, which the game’s designers had not yet considered.

Stephen Johnson, a science fiction author, first used the term “metaverse” to describe the virtual reality-based Internet of the future in his book Snow Crash. A digital representation known as an avatar is used by people to interact in this universe.

The top importer of goods into the United States is China. What kind of economy does the United States have if we only produce war machines and construction equipment here on our soil? Walmart is second.

With your response, please send me an email at brad at liquidleadership.com.

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