Read on Twitter
I don't tweet nearly as much as I should. But I've generally been a fly on the wall for what have been an incredible few months now and would like to take this opportunity to reflect, share my thoughts on key themes and welcome feedback from all my Twittery friends... 1/x
2/x LEADERSHIP - You’ve got it or you don’t.
Jacinda Adern has got it in spades.
Alas, leadership doesn’t come so naturally to #auspol leader #Scomo & western ally leaders #Trump & #BoJo… Do they have a few things in common (stale, male and pale?) or just a coincidence?
Jacinda Adern has got it in spades.
Alas, leadership doesn’t come so naturally to #auspol leader #Scomo & western ally leaders #Trump & #BoJo… Do they have a few things in common (stale, male and pale?) or just a coincidence?
3/x "We need a leader who can persuade the public to act in ways that are difficult but necessary, focus like a laser beam on a problem for a sustained period of time, listen to— and, when necessary, defer to — experts who know far more than he does" https://www.theatlantic.com/ideas/archive/2020/03/presidents-character-unequal-task/608743/
4/x Again, Jacinda absolutely nailed this: "You may not be at work, but that doesn’t mean you don’t have a job. Your job is to save lives, and you can do that by staying home, and breaking the chain.” https://twitter.com/NewsroomNZ/status/1242649327857614848
5/x So what is Leadership in COVID19 era? My learned friend
@davemosk
has nailed it:
1. Be kind.
2. We’re in this together (empathy).
3. I’m not scared because we have a plan (trust me)…
4. Be clear in vision & comms.
5. Inspire the people around you. Express vulnerability
@davemosk
has nailed it:
1. Be kind.
2. We’re in this together (empathy).
3. I’m not scared because we have a plan (trust me)…
4. Be clear in vision & comms.
5. Inspire the people around you. Express vulnerability
6/x
6. Be decisive.
7. Finally, remember that this is a marathon, not a sprint.
https://dave.moskovitz.co.nz/2020/04/01/leadership-in-the-age-of-covid-19/ @davemosk
6. Be decisive.
7. Finally, remember that this is a marathon, not a sprint.
https://dave.moskovitz.co.nz/2020/04/01/leadership-in-the-age-of-covid-19/ @davemosk
7/x The next lesson of leadership: “If you need to be right before you move, you will never win. Perfection is the enemy of the good when it comes to emergency management. Speed trumps perfection” https://twitter.com/ljayes/status/1239103523054211072
8/ The next lesson of leadership: "The problem we have in society at the moment is everyone is afraid to make a mistake. Everyone is afraid of the consequence of error. But the greatest error is not to move. The greatest error is to be paralysed by the fear of failure."
9/x "Leadership is not about being the best. Leadership is about making everyone else better." https://twitter.com/SamPavin/status/1219867300641280000
10/x Next. HUMAN INSTINCTS
Fight or flight is a natural impulse. Not everything is binary though.
Fight or flight is a natural impulse. Not everything is binary though.
11/x Responding in an infinitely uncertain environment is hard.
While too many’s default was to hoard essentials (TP), generally human instincts to care for oneself and ones’ own *and* be respectful for others thereafter has been pretty consistent… room for improvement tho
While too many’s default was to hoard essentials (TP), generally human instincts to care for oneself and ones’ own *and* be respectful for others thereafter has been pretty consistent… room for improvement tho
12/x "If coronoavirus has taught us anything it’s the lengths people will go to when desperate. Next time people want to judge refugees or migrants fleeing war remember that some of you were fighting over toilet paper." https://twitter.com/ShaniceAlethia/status/1238753376151777286
13/x ADAPTABILITY
Rewind three months. Who would have thought we would have evolved so quickly to this moment in time? Celebrate it for what it is
Rewind three months. Who would have thought we would have evolved so quickly to this moment in time? Celebrate it for what it is
14/x As the great one @sammartino has said "Our long-term has always been a series of short-terms strung together and unless we can survive today, tomorrow is irrelevant."
https://stevesammartino.com/2020/04/16/climate-vs-coronavirus-covid-19-series/ #sammatronshierachyofneeds
https://stevesammartino.com/2020/04/16/climate-vs-coronavirus-covid-19-series/ #sammatronshierachyofneeds
15/x "But if the threat is immediate enough & big enough, it turns out we can change everything. We’ve stayed home, shut down factories, borders, stores; stopped air travel and turned mega cities into ghost towns. The carbon emission reduction can be clearly seen."
16/x NEEDS Easy to say, hard to define.
The German President: “This pandemic is not a war. Nations do not stand against other nations, or soldiers against other soldiers. It is a test of our humanity." https://twitter.com/marceldirsus/status/1249286598371561472
The German President: “This pandemic is not a war. Nations do not stand against other nations, or soldiers against other soldiers. It is a test of our humanity." https://twitter.com/marceldirsus/status/1249286598371561472
17/x These are extraordinarily complex times. Few have the ability to make them seem simple with their powerful words - Germany's President and NZ's PM are among them...
For most of us, it is all just a bit too esoteric and intangible though.
For most of us, it is all just a bit too esoteric and intangible though.
18/x - The 'ordinary people' are doing pretty darn well though
Whether it's the nod in a supermarket aisle or giving each other that extra bit of space when crossing paths walking down the street, those little gestures matter. We are all in this together
Whether it's the nod in a supermarket aisle or giving each other that extra bit of space when crossing paths walking down the street, those little gestures matter. We are all in this together
19/x SOCIAL INFRASTRUCTURE - Seriously, how good has it been to see local community members engaging on the 'village green' - school, park, whatever.
This space needs to be protected at all costs. It has been our communal haven in times of need (especially if you've got kids!)
This space needs to be protected at all costs. It has been our communal haven in times of need (especially if you've got kids!)
20/x DIGITAL INFRASTRUCTURE - Sure, our interwebz are creaking, but they are still standing. Just
The shift to remote work has been massive
Zoom, Teams, Webex - seems crazy only 2 mths ago we scheduled so many meetings in expensive little rooms, right?! https://twitter.com/levie/status/1253415639156355074
The shift to remote work has been massive
Zoom, Teams, Webex - seems crazy only 2 mths ago we scheduled so many meetings in expensive little rooms, right?! https://twitter.com/levie/status/1253415639156355074
21/x The role of social media needs to be reviewed out of all this though. Not so much the content it facilitates ( #fakenews) but the access it provides.
In times of crisis, our go-to platforms are Facebook, Whatsapp, Twitter... those corporations can't be the gatekeepers though
In times of crisis, our go-to platforms are Facebook, Whatsapp, Twitter... those corporations can't be the gatekeepers though
22/x They are broadcasters.
Sometimes in a crisis, responsible Governments need to 'take control of the mic' when it comes to public safety.
Crucial early-COVID info shouldn't be ads. Displaying public safety messages should be the price to play. No acceptance, no audience
Sometimes in a crisis, responsible Governments need to 'take control of the mic' when it comes to public safety.
Crucial early-COVID info shouldn't be ads. Displaying public safety messages should be the price to play. No acceptance, no audience
23/x GLOBALISATION There have been pandemics in this era of globalisation (Swine Flu, Zika, Ebola, SARS) but this is the first I can remember - with the possible exception of HIV - which has truly touched every corner of the globe
24/x The virus cares not for arbitrary lines we draw on maps - although islands girt by sea enjoy some advantages (cruise ships aside)... #COVID19 has crossed borders more than any pandemic before it- and given how interconnected the world is nowadays, that should be no surprise.
25/x "As the world becomes more connected, it also necessarily becomes more interdependent... the butterfly (effect/) defect of globalisation, that if left unmanaged inevitably means that we will suffer escalating, increasingly dangerous systemic risks." https://theconversation.com/the-world-before-this-coronavirus-and-after-cannot-be-the-same-134905
26/x Global actions have global consequences... but they also provide the opportunity for global responses.
27/x "The COVID-19 pandemic provides a turning point in national and global affairs. It demonstrates our interdependence and that when risks arise we turn to governments, not the private sector, to save us." https://twitter.com/ian_goldin/status/1243977941257793538
28/x We can - and must - work together. Collaborate. But #COVID19 has not just forced us to look outward for solutions - increasingly, we also have to turn inwards.
29/x - But looking inwards comes with risks of its own... Patriotism is one thing, but in a global era the lines of Nationalism are becoming increasingly blurred
30/x Pointing fingers at others fixes nothing.
"When you blame and criticise others, you are avoiding some truth about yourself"
Ping @realDonaldTrump
"When you blame and criticise others, you are avoiding some truth about yourself"
Ping @realDonaldTrump
31/x So, rather than blame and point fingers, let's think about what will change...
32/x The main game here - in a globalisation sense, at least - is supply chains... #JustInTime is brilliant in theory; and almost was in practice; until it wasn't...
33/x More and more, supply chains will shift locally. Companies over-optimised. Building latency into the system is an opportunity for us all.
This is the good side of nationalism - ensuring there is enough capacity in local economies to serve the various stages of dependence
This is the good side of nationalism - ensuring there is enough capacity in local economies to serve the various stages of dependence
34/x For better or worse, the winners here won't so much be the primary producers - we have no shortages of apples, wheat, even paper to wipe our asses... the winners will be the intermediaries... those who can process, package and transport goods faster, better, locally
35/x Restoring the manufacturing capacity of Australia will be one of the most important, and productive, unintended consequences of #COVID19.
This should also give every C-Suite Exec pause to think how they can mitigate future risks, if only somewhat... #3Dprinting anyone?
This should also give every C-Suite Exec pause to think how they can mitigate future risks, if only somewhat... #3Dprinting anyone?
36/x The other fascinating GLOBAL factor about this #COVID19 thing is how it brought us all together to solve a problem, in real-time (or as close to real-time as we can)
"For the first time in human history, the entire world is focused on one problem." https://twitter.com/naval/status/1240714732689960960
"For the first time in human history, the entire world is focused on one problem." https://twitter.com/naval/status/1240714732689960960
37/x I'm not here to dish out spot prizes, but can anyone think of another GLOBAL challenge which might just require us ALL to put our short-term political and nationalist self-interest aside and focus on the greater good.... #climatechange
38/x - On that note... CSR & CORPORATE LEADERSHIP - For too many it feels forced, for others it comes naturally.
39/x #CSR101 - If it feels like your primary motivation is a photo op for Annual Report, don't.
If it is is consistent with who you are and what you stand for, do it. H/T @Atlassian
But if you feel the need to draw attention to it, again, don't bother
If it is is consistent with who you are and what you stand for, do it. H/T @Atlassian
But if you feel the need to draw attention to it, again, don't bother
40/x Now, back to Corporate Leadership & Values...
From my ol' chum (and fellow raving capitalist) @sammartino https://twitter.com/sammartino/status/1248859956532539393
From my ol' chum (and fellow raving capitalist) @sammartino https://twitter.com/sammartino/status/1248859956532539393
41/x Cliche as it is, the system cannot be designed for capitalism on the way up, but socialism on the way down.
"Also, why do we call taxpayers coughing up billions to keep businesses going a ‘bailout’ and not ‘buying the business’?" https://twitter.com/timdunlop/status/1244848358918782977
"Also, why do we call taxpayers coughing up billions to keep businesses going a ‘bailout’ and not ‘buying the business’?" https://twitter.com/timdunlop/status/1244848358918782977
42/x Colour me pink, but why shouldn't a company have to declare its stripes pre-crisis, rather than pleading for the inevitable bailout when the 
hits the proverbial?
hits the proverbial?
43/x Have subsidiaries in a tax haven/pay no tax in the last 3-5 years? As Bill Lawry would say: Tell your story walking, pal!
"Denmark has announced any companies registered in tax havens will not be eligible for state aid programmes during the pandemic" https://twitter.com/JohnQuiggin/status/1244805610329137152
"Denmark has announced any companies registered in tax havens will not be eligible for state aid programmes during the pandemic" https://twitter.com/JohnQuiggin/status/1244805610329137152
44/x "Aside from ugly jousting for taxpayer support from corporations which pay little or no tax, aside from the hypocrisy of the newly minted caste of post-neo-conservative socialists who once derided regulation but now crave hand-outs, the Government has structured a scheme...
45/x... "to entrench the status quo once the coronavirus blows over.
In this, Australia may miss the chance for vital reform, this historic opportunity to address rising inequality and the dominance of large corporations over democracy." https://www.michaelwest.com.au/cufflinked-comrades-neo-conservative-socialists-and-the-victims-of-the-big-bail-out/
In this, Australia may miss the chance for vital reform, this historic opportunity to address rising inequality and the dominance of large corporations over democracy." https://www.michaelwest.com.au/cufflinked-comrades-neo-conservative-socialists-and-the-victims-of-the-big-bail-out/
46/x Per @JohnQuiggin "In the short run, financialised capitalism will not be replaced by socialism but by state capitalism"
... but only if state capitalism does not (wilfully) allow itself to be usurped by financialised capitalism yet again... https://twitter.com/JohnQuiggin/status/1244805610329137152
... but only if state capitalism does not (wilfully) allow itself to be usurped by financialised capitalism yet again... https://twitter.com/JohnQuiggin/status/1244805610329137152
47/x GOVERNMENT RESPONSE
@jasemurphy summed up the approach so far brilliantly.
"With government paying everyone's wages, it is not trying to *stimulate* the economy, it's trying to *simulate* the economy." https://twitter.com/jasemurphy/status/1245128703325007872
@jasemurphy summed up the approach so far brilliantly.
"With government paying everyone's wages, it is not trying to *stimulate* the economy, it's trying to *simulate* the economy." https://twitter.com/jasemurphy/status/1245128703325007872
48/x How effective that was, we are about to find out:
"Meanwhile the gig economy has left millions vulnerable. Casualisation of the workforce, which has arisen from deliberate government policies of deregulation over the past 2 decades – and is turbocharged by technologies...
"Meanwhile the gig economy has left millions vulnerable. Casualisation of the workforce, which has arisen from deliberate government policies of deregulation over the past 2 decades – and is turbocharged by technologies...
49/x "... of automation – has left millions stranded, disenfranchised. Some will scramble into Jobkeeker, if found eligible, but the structural problems with the system will persist." https://www.michaelwest.com.au/cufflinked-comrades-neo-conservative-socialists-and-the-victims-of-the-big-bail-out/
50/x Frontline role are - and will remain - extraordinarily undervalued...at least, relative to their true role in society,
"Interesting to see who the real heroes are when crisis hits, they are not the money markets spivs on bloated incomes... https://twitter.com/TonyHWindsor/status/1244218494121414658
"Interesting to see who the real heroes are when crisis hits, they are not the money markets spivs on bloated incomes... https://twitter.com/TonyHWindsor/status/1244218494121414658
51/x "... but the health workers, truckies, police, those who produce food and operate the food supply chain, the educators...these people deliver real value.. Thankyou. https://twitter.com/TonyHWindsor/status/1244218494121414658
52/x See also https://twitter.com/doctor_oxford/status/1240332135204036613
"So society’s *real* key workers have just been revealed.
Not the bankers. Not the traders. Not the elite hedge fund managers.
It’s the nurses. Doctors. Delivery drivers. Carers. Porters. Teachers. Shelf stackers. Check out staff."
"So society’s *real* key workers have just been revealed.
Not the bankers. Not the traders. Not the elite hedge fund managers.
It’s the nurses. Doctors. Delivery drivers. Carers. Porters. Teachers. Shelf stackers. Check out staff."
53/x In an Economics sense, if there is one thing I truly believe we have all learned out of #COVID19 it is the special role that local business plays in our communities.
54/x Service economies were far more brittle than any of us expected.
Incredibly strong... until they weren't.
Then it was a very quick game of pass the parcel
Incredibly strong... until they weren't.
Then it was a very quick game of pass the parcel
55/x Locally, many businesses were able to evolve quickly enough (albeit with Govt support, heads up again to #JobKeeper)... and how incredible was it to see your local pizza joint pivot to straight up T/A food and drinks in quick time (shout out #generalpublicperth)
56/x Those options aren't open to everyone though... Sorry to say it, but as a nation #Australia's #economy nowadays is fundamentally geared to population growth + credit - other than, but inextricably linked to holes and houses, that is...
57/x "Modern economy is based on Credit: Word origin is 'belief'. Most money circulating is in the form of a promise based on a belief it will be paid back... When we can no longer know, or 'believe' - the modern economy crumbles. Welcome to today" https://twitter.com/sammartino/status/1251393744479285248
58/x The level of global debt today is 5 x GDP https://twitter.com/sammartino/status/1242364435533979649
In Australia, how do you seriously think we are tracking? With some of the most overpriced property in the world...?
In Australia, how do you seriously think we are tracking? With some of the most overpriced property in the world...?
59/x "The gradual death of capitalism has occurred because of the finalisation of the global economy. Excessive debt underpinned by easy monetary policy has hidden price signals, crunched down the cost of capital and injected bad incentives into capital markets...
60/x "… In other words, in order to satisfy the political requirement, we needed to continuously bring more and more future consumption to the present." https://twitter.com/GrattanInst/status/1240868737156296705
61/x Now this where things start to get interesting/scary...
"Half of working households have less than $7,000 in the bank. Many have much less. Many Australian households will need help to get through this crisis..." https://blog.grattan.edu.au/2020/03/as-the-covid-19-crisis-deepens-few-australians-have-much-cash-in-the-bank/
"Half of working households have less than $7,000 in the bank. Many have much less. Many Australian households will need help to get through this crisis..." https://blog.grattan.edu.au/2020/03/as-the-covid-19-crisis-deepens-few-australians-have-much-cash-in-the-bank/
62/x To an outsider looking in, the whole tradeoff between #Property Capital and #Business Capital has been perhaps the most fascinating bygones game in this whole charade...
63/x "To make sure I understand this correctly, landlords are blaming tenants for not having enough savings to pay rent, while taking this position because they themselves don't have enough savings to make their mortgage payments? Seems totally reasonable" https://twitter.com/zbollman/status/1244855388056371200
64/x If I haven't explained this enough already, in a long-term sense, for far too long not #labour has been chronically undervalued and #capital chronically overvalued...
PS: Plz note that #capital includes #time when you are just starting up
PS: Plz note that #capital includes #time when you are just starting up
65/X FUTURE OF WORK This whole situation maps quite nicely, so lets take it there now... https://twitter.com/levie/status/1246204016020688897
66/x "Everything changes when you move to virtual work, and the companies that leverage its strengths will actually speed up:
Asynchronous work —> Real-time
Long planning —> Agile, iterative
Broadcast —> 2-way dialog
Siloed work —> Transparent, open" https://twitter.com/levie/status/1253415639156355074
Asynchronous work —> Real-time
Long planning —> Agile, iterative
Broadcast —> 2-way dialog
Siloed work —> Transparent, open" https://twitter.com/levie/status/1253415639156355074
67/x The company I spend most of my life working for is still pretty conservative, sure... But let's just quickly appreciate how quickly so many employers and industries have moved remote as the red tape (rule-based and cultural) has faded to the background...
68/x Industries were already transitioning, whether they liked it or not.
#COVID19 just brought that chance front and centre in our consciousness.
Want to work from home? It won't be long until the conversation changes from "Why?" to "Why not?"
#COVID19 just brought that chance front and centre in our consciousness.
Want to work from home? It won't be long until the conversation changes from "Why?" to "Why not?"
69/x This will be a massive shift for employers, sure.
Commercial landlords, even more...
But they are only the bleeding edge. What happens when everyone starts asking "Why am I doing this? Where is this going?"
#UBI is still a concept now. Soon, it will be the future.
Commercial landlords, even more...
But they are only the bleeding edge. What happens when everyone starts asking "Why am I doing this? Where is this going?"
#UBI is still a concept now. Soon, it will be the future.
70/x One of the biggest issues ECONOMICS still needs to grapple with is MEASUREMENT
In a digital era, we can almost measure everything now, but which measurements actually matter?
Without putting too finer point on it, the days of GDP-centric economies are numbered.
In a digital era, we can almost measure everything now, but which measurements actually matter?
Without putting too finer point on it, the days of GDP-centric economies are numbered.
71/x Long-term, politicians don't get re-elected by numerators but by ratios.
For too long, we have focused on the top-line (GDP) without enough consideration to how that grew relative to the bottom line.
NZ's Wellbeing Framework is revolutionary here https://treasury.gov.au/sites/default/files/2019-03/Policy_advice_Treasury_wellbeing_framework.pdf
For too long, we have focused on the top-line (GDP) without enough consideration to how that grew relative to the bottom line.
NZ's Wellbeing Framework is revolutionary here https://treasury.gov.au/sites/default/files/2019-03/Policy_advice_Treasury_wellbeing_framework.pdf
72/x What is "growth" anyway?
In a business, the key for all KPIs is to measure what matters... Does it really matter if you tell me we are collectively "growing" without saying where the "growth" is coming from and how it is being distributed?
In a business, the key for all KPIs is to measure what matters... Does it really matter if you tell me we are collectively "growing" without saying where the "growth" is coming from and how it is being distributed?
73/x This brings things back quite nicely to one of my foundational arguments - What is the Economy? What is Community? What is Society?
74/x In the mighty words of mighty @FAKEGRIMLOCK
"ECONOMY SIDE EFFECT OF SOCIETY.
NOT OTHER WAY AROUND." https://twitter.com/FAKEGRIMLOCK/status/1241080344310398977
"ECONOMY SIDE EFFECT OF SOCIETY.
NOT OTHER WAY AROUND." https://twitter.com/FAKEGRIMLOCK/status/1241080344310398977
75/x It took a pandemic for the world to finally understand we live in a society, not an economy.
I won't lie, though... how quickly the political jargon has moved from 'society' to 'economy' is scary... If we focus on the latter more than the former, who bears the greater risk?
I won't lie, though... how quickly the political jargon has moved from 'society' to 'economy' is scary... If we focus on the latter more than the former, who bears the greater risk?
