As the internet has increasingly become more social, the value of individual reputations has risen, and a new currency based on reputation has been created. This means that not only are companies tracking what an individual is tweeting and what sites they spend the most time on, but they're using this knowledge to predict the consumer's future behavior. And a world in which Target knows that a woman is pregnant before she does, or where a person gets a job (or loses one) based on his high school hijinx is a scary one indeed. Joshua Klein's Reputation Economics asks these crucial questions: But what if there were a way to harness the power of these new technologies to empower the individual and entrepreneur? What if it turned out that David was actually better suited to navigate this new realm of reputation than Goliath? And what if he ushered in a new age of business in which reputation, rather than money, was the strongest currency of all? This is all currently happening online already.
Welcome to the age of Reputation Economics:
-Where Avis is currently discounting car rentals based on Twitter followers
-Where Carnival Cruise Lines are offering free upgrades based on a Klout score
-Where Amazon and Microsoft are a short way away from dynamically pricing their goods based on a consumer's reach and reputation online
-Where Klout scores are being used to vet job applications
The value of individual reputation is already radically changing the way business is done.
"Josh Klein understands what is about to replace money. The extent to which you understand it, too, will likely determine whether you thrive in the landscape before us."
Douglas Rushkoff, author of Life Inc and Present Shock
"The global economy is in upheaval, and Klein details the technologies behind much of this change and the growing emphasis on relationships. He does all this with fresh and cogent insight."
Don Tapscott, bestselling author of 14 books, including Radical Openness
"Reputation Economics peels back the onion to reveal the dystopia of modern commerce and the trends, tools, and technologies that allow individuals to take more control of their futures and render business as usual obsolete. I recommend this fascinating and instructive book to both the captains of industry and the folks who'd like to see them sink."
