Planet Money’s Adam Davidson: ‘passion economy’ business is the future

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  • In this new book “The Passion Economy,” podcast Planet Money host Adam Davidson explains the shifting terrain of the business world.
  • Thanks to automation and new technology, entrepreneurs need to employ a specific strategy if they want to succeed in a marketplace dominated by titanic corporations.
  • The passion economy rests on two pillars: create intimacy at scale and don’t be a commodity. Davidson’s book offers nearly a dozen real-world examples of his theory.
  • Visit Business Insider’s homepage for more stories.

 

According to Planet Money cofounder Adam Davidson, American business is undergoing a fundamental shift toward what he calls the “passion economy.” This new landscape is the result of two diffuse factors acting in concert: automation eliminating jobs and technology creating new opportunities. 

The result: a rising class of entrepreneurs who thrive by solving the hyper-specific needs of a niche, often disparate customer base. To Davidson, this new system is the

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ServiceNow launches latest Now Platform, telecom and financial services workflows

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ServiceNow launched a new version of its Now Platform, code-named Paris, with editions for telecommunications and financial services as well as workflows for business continuity, hardware asset management and legal services delivery.

The company, which is gunning to be the “platform of platforms” to automate enterprise workflows, has seen strong growth due to digital transformation as well as management of COVID-19 back-to-work plans. Also: ServiceNow launches four-app suite to manage the move back to the office

“The 21st century enterprise is different. It has to be nimble, intelligent and drive employer and customer loyalty,” said ServiceNow CEO Bill McDermott. “And it has to be self-funding with time to value in weeks to months.”

McDermott’s argument is that the COVID-19 pandemic has exposed weak links and silos in enterprise value chains. For instance, companies can’t be agile when they have a bunch of systems that specialize in one task, say sales,

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Is It Time To Start Your Own Business?

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Kathryn and Michael K. Redman are sweethearts, best friends, and the husband-and-wife team behind Half a Bubble Out (HaBO), a marketing and business consulting firm.

Kathryn and Michael have both taught at the university level and are frequent guest speakers. They have penned their recently published first book, Fulfilled: The Passion and Provision Strategy for Building a Business with Profit, Purpose, and Legacy.  

They currently reside in their hometown of Chico, California.

I had the opportunity to interview Kathryn and Michael recently. Here are some of the highlights of that interview:

Jill Griffin: The pandemic has led many people start their own businesses rather than hunt for a ‘safer’ , more traditional job with a stable company. Can you address this phenomenon from your perspective as a lifelong entrepreneur?

Kathryn and Michael Redman: It makes perfect sense

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