Wealth = Talent X Technology

This is a little book that will have a big impact on your career or business. The section where Koch talks about "wealth creation multipliers" is quite interesting. Specifically, he states the following equation:

Wealth = Talent X Wealth Creation Multiplier

He then goes on to also state:

Wealth = Talent X Business Genes

(A business gene being what enables your talent to be turned into money).

I would say that Wealth = Talent X Technology, and the rise of Indian brainpower is an example of how smart workers (Infosys, etc.) were able to leverage the Internet to plug and play in the global game of capitalism.

Indeed, while talent is key, it is not enough. A second sort of talent is needed: technoleverage. That is, the ability to use technologies to create business value.

Some of the emerging wealth-enabling technologies include podcasting (www.odeo.com), blogging (www.blogger.com), etc.

Speech recognition software is my latest discovery, and I must say it has enormous potential as a tool that enables professionals to not only improve their productivity by speaking instead of typing, but also to share their valuable knowledge by making it explicit in the form of a typed document that can be shared with anyone.