Good Morning! Here is Your Curated Morning for Thursday February 16th, 2023
THE TOP FIVE
Economic Development--
There is a $60B climate startup; the investor is the US government. This startup works in the world of development finance. Development finance provides public finance to advance economic growth and mobilize private sector resources in the places that need it most. It's called the US International Development Finance Corporation or DFC and was created in 2018. To impact climate change and rising temperatures, trillions of dollars must be invested in technology. The DFC will play a major role as its director. Jake Levine is interviewed in this article about how this will be accomplished. Read the article here.
TWO—Technology
Several years ago, I went to the Consumer Electronics Show (CES) to see what I could see. Initially, I thought I was at the Las Vegas Auto show as practically every automotive company was represented with their latest electronic gadgets (their cars). At the most recent show, Michigan's chief mobility officer. It was stressed that states need to provide local governments with guidance regarding installing EV charging stations. The primary issue is outdated regulations and the need for more resources to change them. There is a lot to consider, and you can read about it here.
THREE—Green Economy
The International Energy Agency has recently issued a report called Energy Technology Perspectives 2023. This report provides detailed information and analysis "of a new industrial age – the age of clean energy technology manufacturing." By 2030, the report says clean energy technology could generate $650B in market investments. Jobs could top 14 million by 2030, with over half of those related to EVs' solar, wind, and heat pumps. According to the report, the bottom line is that "Industrial strategies for clean energy technology manufacturing require an all-of-government approach, closely coordinating climate and energy security imperatives with economic opportunities." The report is comprehensive, and you can download it. However, the executive summary may be all you need. You can read it here.
FOUR—Diversity, Equity, Inclusion
McKinsey has identified eight socioeconomic pillars that can impact investment in black-owned businesses and impact black communities. Several factors have heightened the awareness of ESG (environmental, social, governance) investing, and the McKinsey Institute for Black Economic Mobility has written a downloadable report at the link. As McKinsey calls them, these factors or pillars are affordable housing, pre-K–12 education, health equity, financial inclusion, business ownership, workforce training and job attainment, the digital divide, and public infrastructure. All of these factors are often on economic developers' agendas. Read the summary and download the report here.
FIVE—Being Your Best
Michael Pollan, author of several books on food, how and what we eat, and more recently, psychedelics like psilocybin and LSD and their positive impact on Post Traumatic Stress Disorder as a treatment, wrote that caffeine is the most widely used addictive substance in the world. It is in coffee, tea, chocolate, and other foods. We have seen numerous studies on its pros and its cons. More recently, a study highlighted in the linked article speaks to its ability to reorder our brain structure. It can reduce the size of the gray blob between your ears. Is that bad? Scientists have yet to determine. You can read it here as you drink your first cup.
The Main Thing :
Artificial Intelligence is the topic du jour these days, along with spy balloons and shooting down UFOs. This week, I write about the future of AI and how it will impact the future of work, economic development, our social structures, and the economy.
Honestly, it is really just my opinion; however, I did go to an AI conference once.
AI has the potential to change so many things in our world. Will it be good or bad? It's hard to say, but I offer some things to consider.
The Future of Artificial Intelligence
By Martin Karl Vanags
In 2019 I went to an artificial intelligence conference in Boston. Outside my everyday work, I attend a conference, event, or training each year. You can participate in many economic development conferences, and over time, you begin to understand that the information you receive will stay the same. Trying something new expands your limited thinking and allows you to see if there isn't something interesting you can apply to your work.
Much of what I listened to was confusing. Many of the people I spoke to used language I didn't understand. Many of the concepts and theories were foreign to me. Nonetheless, I soldiered on, hoping a light would turn on during my few days there.
Fast-forward to 2023, and wham! Suddenly, everyone is talking about artificial intelligence and how it will change the world. Many words and concepts like machine learning, chatbots, image recognition, and natural language processing are now being used and thrown about as if they are familiar. I am glad that I went to the conference. As a lifelong learner, I have come to understand that striving for difficulty will help you retain information and assist in learning.
Blog to Read :
In this week's installment of the First Ninety Days, I write about short-term and long-term planning. I contend that you don't need a master economic development strategy completed in those first ninety days, but you need some plans.
Short-term plans will reap some low-hanging fruit, and long-term plans will set some goals for the immediate long-term and will keep community and board interest high.
Read my suggestions for how to achieve success here .
Something to Watch:
If you had ever watched the "man-on-the-street" quizzes that Jay Leno did when he hosted the tonight show, you would weep. They were funny, yet they portend the crises we are in today. That crisis is the dumbing down of America. Many Americans don't know the essential functions of the three branches of government or how legislation gets passed, and many other aspects of civic life. We have lost our ability to be critical thinkers.
That was just the start. According to the video, social media has helped this along.
In this video, Jeffrey Goldberg, Editor in Chief at the Atlantic Magazine, interviews Jonathon Haidt, a social psychologist at NYU Stern School of Business, in an interview titled, Our "Uniquely Stupid" Decade. While this isn't about civics, the interview does address the severe impact social media has had on our collective intelligence.
All this non-thinking and taking the junk fed to us by social media outlets as the truth will be the downfall of democracy.
The entire video is a little over 45 minutes; you can find it here.
Something I read:
You are a Super Hero with Superpowers. At least that Dr. Zoe Chance says. The Yale professor in the school of management has penned a book showing how to use your influence as a Superpower.
The book, Influence is Your Superpower --The Science of Winning Hearts, Sparking Change, and Making Good Things Happen is full of great advice, strategies, and tactics. Is it replacing the Dale Carnegie classic, How to Win Friends and Influence People? This book will give you a scientific foundation of influence, how people think, and how to get what you want.
Getting what you want or need isn't some selfish idea. Since you were a baby, crying for food or crying to have your diaper changed was a form of influence. Influencing people for the greater good is the stance Chance takes in her book and writing.
Check out my review here.
Something I ate:
This past week, I made some Chili to accompany my viewing of the Super Bowl. I found the game exciting and interesting, but the commercials were lackluster. Do you have a favorite commercial? I have my recipe for Chili, which entails taking whatever I have and cooking it down. My roommate doesn't like spicy things, so I had to cut back on the jalapenos. Do you use beans, or do you go Texas-style sans beans? I top mine with cheddar cheese and sour cream. Top off with oyster crackers.
Here is a recipe for Chili that looks similar to mine.
Whenever you’re ready, there are several ways I can help you:
1. Economic Development; If you are looking to supercharge your economic development organization I can help by strategizing and developing a roadmap to success. Set up. a time to talk to me here.
2. Climate Change Economics; There is so much going on in this space and I can help you sort through it. Are you ready to develop a plan. or just need some coaching? Set up some time to talk about here.
3. Training and Coaching; I can train you and your team on high level productivity tools to get you into flow. Mindset, GRIT and flow come together in these sessions or through one-on-one meetings. Let's talk about your needs here.
If you have any thoughts or comments regarding any articles in this newsletter please feel free to contact me through email at martin@martinkarlconsulting.com.
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Thanks for reading the Curated Morning.