The Main Thing:

We hear a lot of talk about algorithms these days. If you spend any amount of time on social media marketing efforts, you will see a constant stream of ads and offers to help you hack the algorithm of your favorite. So, what is an algorithm?

An algorithm is a finite sequence of well-defined instructions for solving a problem or performing a particular task. It is a step-by-step procedure that transforms input data through a series of computational steps to produce a desired output.

That’s what you were thinking it was, right?

So, if your problem or challenge is how to grow your community's economy, what is your community's algorithm? That’s a big question that is worth considering.

In this week's post, which you can read here, I discuss algorithms, community performance, and key performance indicators.

Focus on Technology

The Toaster isn’t Toasting Anymore

My father could fix anything. He loved sitting in the basement workshop with an old light fixture or toaster and soldering wires to get something to work. Today, in our throw-away society, that is about to change. The changing regulatory landscape forces manufacturers to rethink their approach, moving from restrictive repair practices to more customer-centric service models emphasizing repairability, standardization, and proactive maintenance through built-in analytics.

Technology manufacturers have increasingly used software to control their products after sale, requiring subscriptions for basic features and limiting repair options. Deere & Co.'s practices with its tractors exemplify this trend. This trend has led to significant pushback, including a recent lawsuit by the FTC and state attorneys general against Deere & Co., alongside the passage of right-to-repair laws in seven states and the European Union.

In the article "Consumers Are Gaining the Right to Repair—Are You Ready?", the authors describe this changing landscape and its implications for consumers.

Why this Matters -- For economic developers, the right-to-repair movement represents a significant shift in how manufacturers must operate in their communities. This transition creates opportunities for new business development in repair services, technical training programs, and innovative service-based business models. More importantly, the movement plays a crucial role in promoting local economic resilience by enabling communities to maintain and repair their equipment, potentially reducing costs and creating new jobs in the repair and maintenance sector.
​

How to Build a Star

Scientists often link nuclear fusion to creating a star on Earth. Researchers and companies announce breakthroughs nearly every month. Now, a company in Virginia is moving forward with innovations in the field. NearStar Fusion, a Virginia-based company, has secured investments from Virginia Venture Partners and Ecosphere Ventures to develop innovative fusion energy power plants using their proprietary plasma railgun technology.

In the article, Virginia Venture Partners and Ecosphere Ventures invest in NearStar Fusion to create clean, safe, and affordable energy, (EiNPresswire), developers of this technology say they can retrofit existing coal-burning power plants to speed up development. The company plans to begin break-even experiments within five years and hopes to have a prototype power plant operational within a decade. Unlike traditional fusion approaches, NearStar's design uses only deuterium as fuel, avoiding the complexities and regulatory challenges associated with tritium, and employs commercial off-the-shelf materials to reduce costs and development time.

Why this Matters: NearStar Fusion's approach presents opportunities for jobs and capital investment, potentially leading to significant local economic growth. The company's strategy of repurposing existing power infrastructure could help communities maintain their energy sector employment base while transitioning to clean energy. Additionally, its use of commercial off-the-shelf materials could create supply chain opportunities for local manufacturers, further boosting the economy and fostering a sense of hope for the future.

​
​Clean Up Your Mess

The third annual Auto Supply Chain Leaderboard report reveals that global automakers are making inadequate progress in cleaning up their electric vehicle supply chains, with no company achieving more than a 50% score in addressing emissions, environmental harms, and human rights violations. The report, which you can find in the article, New report calls on automakers to step up efforts to make EV supply chains cleaner, more ethical, (Jordyn Grzelewski in Tech Brew), provides a comprehensive assessment, evaluating 18 automakers across 1,600 data points and 88 indicators. The report highlights improvements in companies' actions on Indigenous peoples' rights. However, this category remains the industry's lowest-scoring area and notes the positive impact of regulations like EU due diligence requirements in driving improvements.

Why this Matters: For economic developers, this report offers valuable insights into the evolving automotive industry landscape and its implications for economic development. Economic developers can use this information to help local suppliers adapt to new industry requirements, develop workforce training programs focused on sustainable manufacturing practices, and create initiatives that position their regions as leaders in responsible automotive production.

Other Articles of Interest this week:

AI -- OpenAI debuts ChatGPT Gov for public sector use by Alexandra Kelley | RouteFifty -- The new chatbot brings the same capabilities from the public model to government-approved and secure cloud environments for federal workloads.

Economic Development -- Albany NanoTech’s Potential to Support the National Semiconductor Technology Center by Charles Wessner and Thomas Howell | Center for Strategic and International Studies -- In July 2024, in a bid by the state to secure the designation of the facility as one or more of the NSTC’s foundational centers, $1 billion was invested into the semiconductor research facility at the New York Center for Research, Economic Advancement, Technology, Engineering, and Science’s (NY CREATES) Albany NanoTech Complex.

Green Economy-- Trump administration pumps brakes on federal EV charging infrastructure funding by Jordyn Grzelewski | Tech Brew -- A directive from the Federal Highway Administration has reportedly prompted numerous states to halt their NEVI-funded programs.

Leadership-- Why leadership-development programs fail by Pierre Gurdjian, Thomas Halbeisen, and Kevin Lane | McKinsey Quarterly -- Sidestepping four common mistakes can help companies develop stronger and more capable leaders, save time and money, and boost morale.

Mentoring-- Daniel Pink on Finding Meaning in Work by Angie Basiouny | Knowledge at Wharton -- Whether you're trying to improve work-life balance or wanting to feel more empowered in your role, finding meaning in your life is key, says Daniel Pink.

This is For Seasoned Economic Development Leaders still Active:

You’ve spent decades building your communities, navigating complex deals, and fostering relationships that have shaped economic landscapes. But the field is evolving rapidly. Today’s emerging technologies, shifting workforce dynamics, and new approaches to community engagement are reshaping how we work.

To help you stay sharp, in tune and up-to-date, I have created the Seasoned/Rising Star Mastermind.

Through this mastermind, you’ll:

• Gain fresh perspectives on digital transformation and emerging economic trends
• Connect with the next generation’s innovative approaches to community development
• Create a lasting legacy by shaping tomorrow’s economic development leaders
• Stay current with evolving tools and methodologies in our field
• Build relationships with professionals who can carry forward your projects and vision

If this interests you, please let me know your interest soon. You can do it by linking here. The waiting list is filling up, so please act now.

Something You Should Read:

Tariffs Are Good…Tariffs are Bad

In a nuanced analysis of trade policy, economist Noah Smith explores when tariffs might benefit an economy - and it's not as simple as "free trade good, tariffs bad." From protecting national security interests to nurturing 'infant industries' (newly established industries that are in their early stages of development), Smith writes that strategic, targeted tariffs could serve legitimate economic purposes, while broad, unfocused trade barriers often do more harm than good.

If you buy into what Smith says, tariffs can have crucial implications for economic development professionals. Strategically, tariffs can protect domestic industry and support emerging industries in your regions. Additionally, tariffs can help balance international competition with local economic interests and foster the development of new industrial clusters.

Smith also points to how tariffs can impact supply chains. Professional economic developers may wish to determine their local business resiliency regarding supply chains and input for the products they supply or manufacture. Proactively building resilient regional supply chains and supporting critical manufacturing capabilities can prepare the local economy to thrive in a tariff environment.

The key takeaway for economic developers is that while broad tariffs can potentially harm regional economies, carefully targeted trade policies can help develop strategic industries and maintain critical manufacturing capabilities. This understanding should make professionals cautious and aware of the potential risks and benefits of tariffs.

Read his recent column, When are tariffs reasonable? - National security, infant industries, national champions, and more unorthodox theories.​

Overheard :

Life expectancy would grow by leaps and bounds if green vegetables smelled as good as bacon.

Doug Larson

Rabbit Hole

Porker

Let's face it - bacon is like that one friend who divides the room. You either worship at the altar of crispy pork or run screaming in the opposite direction. If you're in the "nope" camp due to your religious beliefs or because you've sworn allegiance to some "-ism" (vegetarianism, we're looking at you), feel free to scroll on by. No judgment here - more bacon for the rest of us!

Now, full disclosure: I'm usually not the type to mess with perfectly good booze. Sure, a bottle of honey-kissed Jack Daniels lurks in my bar, but that was a moment of weakness for a "special occasion" (translation: I got suckered by fancy marketing).

But hold onto your pigtails, folks! This bacon-washed bourbon recipe has me questioning everything I thought I knew. We've seen bacon crash-landing into chocolate bars and maple syrup hot tubs, but bourbon? That's either genius or madness, and I'm here for it.

So, if you're up for a bit of a culinary rollercoaster at your next cocktail party, give this porky potion a shot. Who knows? It might just make you squeal with joy - or at least oink with curiosity!🐷🥃

​You can find the recipe here. ​

New Life for Malls

Recently, I stopped by our local Big Mall for a walk-through. I was waiting for the adjacent Barnes and Noble to open, and I hadn't been to our Mall for ages.

(Tangent: The first time I saw a sitting President was at this Mall. In 1975, Gerald Ford made a campaign stop, and this was the largest public venue available. My sister drove me to the Mall, and we fought the crowds to see a president. No, he did not do any shopping.)

It has certainly changed. The mix of retailers is decidedly different. However, I knew that walking in the door. The national retailers are giving way to many local specialty stores and kiosks selling various 'stuff' (I can't think of another word, junk). I grew up in the Mall era, a time when going to the Mall was an event in and of itself, where you could spend hours browsing, socializing, and enjoying various experiences.

Other than being scowled at by elderly mall walkers for being in the way, there wasn't much action that morning.

That may be why many communities and developers seek to convert malls from retail spaces to other uses, including offices, farmer's markets, and residential units.

Malls and the properties they occupy are huge and could offer exciting and innovative spaces to remedy some of our housing needs. However, for the entry-level worker, malls are usually on the outskirts of communities, far from jobs.

​Watch this video of how one community breathed new life into their Mall, transforming it into a vibrant hub of activity and innovation.

This Zeppelin Blew Up Also.

Last weekend, I went to see Becoming Led Zeppelin, the new biography of the supergroup from the sixties and seventies. This was during my formative years, and I can remember the first time someone played a Led Zeppelin album for me (we usually played an entire album on vinyl back in those days). I was mesmerized. They quickly became "my" band. It wasn't until much later that I realized that I had started listening to them well into their life as a band and that, very shortly, they were headed to dissolution.

Two band members, Jimmy Page (guitarist) and John Paul Jones (bass, organ), were well regarded as studio and session musicians long before they created Led Zeppelin. The movie beautifully outlines each musician's early beginnings and influences before forming the band, originally called the New Yardbirds. Page had been a member of the original Yardbirds. Their musical journey is a testament to their dedication and creativity.

The movie delves into the band's unique sound and how they rose to fame. The members crafted a new sound, blending elements from Elvis, Little Richard, and Blues artists in America: part blues and part hard rock. The documentary is loyal to the band's musical history, a unique blend that intrigued the audience and set them apart from the typical rock star scandals of the day.

A favorite clip from the movie includes their appearance at an Ed Sullivan-type variety show in England early in their history. We watch as Robert Plant hits the high notes with fervor in the song "Communication Breakdown." Page rips through his guitar, and Jones lays down a fast tempo on his bass. John Bonham, the drummer, is a beast as he pounds the skins mercilessly.

As they go through the song, which sounds like a forerunner to the punk anthems that would come out of the British music scene much later, the audience watches carefully and quietly, unsure of what to do. Led Zeppelin's style was new to them, and they sat through the entire song and politely applauded at the end. It was funny not to see someone dancing or rocking to the beat.

If you are a Led Zeppelin fan, this movie is a must-see. It features full clips of performances, interviews with the band, and even a previously unreleased interview with John Bonham, the drummer who died prematurely and was the impetus for the band's breakup. This documentary is a treasure trove for fans, offering a deeper understanding and appreciation of the band's journey.

As a fan, it's hard to say how long they would have stayed together and what magical music they would have created. The documentary left me longing for the music that could have been, but also a deep appreciation for the music they created
​

Fun Fact: Did you know that Jimmy Page and John Paul Jones, the guitarists and bassists of Led Zeppelin, also contributed to the iconic theme song for the James Bond movie Goldfinger? Their versatility and talent extended beyond their work with Led Zeppelin.

​
​One more thing: The performance of Stairway to Heaven by the Wilson Sisters ( of Heart, the band) at the Kennedy Center Honors in tribute to Led Zeppelin was one of the best. It's even better than any live version Led Zeppelin has done. The Wilson Sisters' performance was a heartfelt tribute to the band's legacy, and it's a must-watch for any Led Zeppelin fan. Watch it here. It is truly a fantastic performance.

Writing for Results

Over the years, people have told me that “for a left-hander, you have nice handwriting,” which was a compliment, but I considered it an insult. I felt what they were saying was that even though left-handers are somehow handicapped, they were surprised I could still write legibly.

(I admit that when I wrote the above, I was unsure what they were looking at. The cursive is awful. )

My journey to improve my handwriting was a personal triumph. I honed my skills in a drafting class during high school. The art of 'lettering' drawings, now replaced by AutoCAD and other design software, became the foundation of my writing style today. I can now print in block letters faster than I can write in cursive.

However, think about this: Because of computers, people, especially younger generations, are losing their writing ability. Give this some thought.

What if we quit teaching youngsters how to write, pen to paper? What happens when the computer doesn’t work? How will they communicate if they can’t type it into a pad or screen? If they haven’t practiced or spent time doing the physical chore of putting letters down on paper, what will happen?

The article Signature Moves: Are we losing the ability to write by hand? outlines what humans lose if they give up the ability to write words on paper. The authors tell us that our ability to learn and create cannot be given up to computers. It’s an interesting dilemma, considering the fantastic artwork AI can produce.

After reading the article, I encourage you to take a moment to write yourself a note, by hand. Use this note as a reminder to practice your handwriting more often. It's a small step, but it can make a big difference.

Thanks for Reading

If you liked this email, pay it forward. Share it with someone you think might benefit.

Did someone share with you? Sign up here. For previous editions, click here.

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. Culture Change; Is your organization changing? Would you like to create an asset out of your culture? Do you know how to assess team strengths? Let me help you. I'm a certified culture change practitioner. Set up a time to talk to me here.

3. The Green Economy; The world is changing. Some of it is positive, and some of the change is not. Let me help you develop green economy opportunities for your community. Set up some time to talk about here.​

4. Mentoring Programs: Circles of Seven (C7) is a proven and award-winning model for mentoring. Whether it is for business or your community leadership program, I can develop a mentoring program for you. Let's talk about your situation. Set up a time 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.​

You can review my services and offerings at www.martinkarlconsulting.com​

​
​
​

​
​
​