Business Matters

How crowdfunding is heralding in an era of ‘New Power’ in business

Business Matters, John Auckland

Crowdfunding is having a profound effect on business. So much so that I believe that by 2030 all good ideas will be incubated through crowdfunding.

Why? Because crowds, i.e. the opinion of the market, is deemed more trustworthy than the voice of a few opinionated industry leaders; pluralism is overtaking individualism. John Auckland from Tribefirst explains that there will be a time in the near future where ideas or new brands won’t be trusted if they can’t show they’ve been validated by the crowd.

I’m not the only one who believes this paradigm shift will be absolute. In their recently-published book, called New Power, authors Henry Timms and Jeremy Heimans argue that we’re shunning old 20th Century values in favour of new power values of disintermediation, leader-less movements and crowdsourced ideas. In this world our voices are heard through online petitions, our banks are crowdsourced and our beer is owned by the people. It also has its dark side, leading to populist politics that can be open to manipulation, such as Donald Trump, Brexit and the Cambridge Analytica scandal.

So how will this affect the startup and funding scenes, and will this help to drive the industry forward? And how can your idea gain more traction by embracing these new powers?

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