Impact on Local Economies

What most people don’t know about Philips — and why Europe should not give up on innovation When people talk about global tech champions, Europe is often framed as “lagging behind.” But look more closely at Philips. Few realize that some of the most influential companies shaping today’s technology landscape emerged from the Philips ecosystem: • TSMC – founded in 1987 as a joint venture between Taiwan’s local government and private investors, with Philips as the main corporate shareholder and technology partner, whose process know-how and patents helped it get started as the world’s first pure-play foundry. • ASML – today the world leader in photolithography equipment, created in 1984 as ASM Lithography, a joint venture between Philips and ASM International to commercialize lithography technology developed in Philips’ research labs. • NXP Semiconductors – carved out of Philips’ semiconductor division in 2006, and now a global leader in automotive, secure connectivity, and industrial chips. These companies now far exceed the original parent in strategic impact on the global digital economy. This is not a story of decline. It is a story of ecosystem seeding. Another under-appreciated dimension: For decades, Philips has been a bridge builder in global innovation — deeply connected to the US technology frontier while transferring manufacturing and process capabilities into Asia, including China. Long before “decoupling” became a headline, Philips helped shape the global value chains that still underpin the semiconductor industry today. That ability to connect ecosystems across geographies is more important than ever. Three lessons I take from this: 1. Great companies can be great ancestors. Impact is not only what you keep, but what you enable. 2. Ecosystems outperform organizations. Long-term value comes from networks, not silos. 3. Europe’s strength is deep tech + global integration. If we connect it better, it can still win. Bottom line: Let’s stop writing Europe off. And start strengthening the ecosystems that turn industrial depth into global leadership — and keep Europe a bridge, not an island, in a fragmenting world. What other European “hidden ancestors” of today’s champions should we be paying attention to?

The UK’s new car market is at a crossroads. April saw a 10.4% drop in new car registrations, the sixth decline in seven months, highlighting a fragile economy and wavering consumer confidence. Strategic, long-term action is now essential. Tax changes, like the Vehicle Excise Duty (VED) adjustments and the Expensive Car Supplement, are reshaping consumer behaviour and shifting transactions unpredictably, demonstrating that policy has real-time impact. Electric vehicle (EV) adoption is growing. Battery electric vehicle (BEV) registrations rose 8.1%, but their 20.4% market share still falls short of ZEV Mandate requirements. Fleet buyers now make up 60% of the market, signalling progress but also an imbalance, private consumers are being sidelined from EV purchase and continuing to choose the internal combustion engine. On that point, as we push toward electrification and the launch of our new BEV in 2026, the Mazda6e, we must also recognise the continued relevance of internal combustion engine (ICE) vehicles. For many consumers, particularly in rural areas or with limited charging access, ICE vehicles remain the practical and affordable choice. A balanced market must support both paths during the transition, and we recognise this need at Mazda through our multi-solution approach to finding innovative solutions for our customers’ needs across the full range of vehicles and powertrains. To ensure sustainable growth: - Reform incentives: Make incentives more inclusive.  - Protect equality: Ensure lower-income consumers aren’t excluded from the green transition.  - Maintain consumer choice: Recognise that ICEs will continue to serve critical mobility needs during the transition, particularly for rural communities, those driving long distance and those not yet ready to make the switch to EVs.  - Drive awareness: Use media to improve consumer understanding of the ZEV mandate and what it means for them, including the continued option for the internal combustion engine cars and dispel misinformation.  - Invest in innovation: Advance EV tech and infrastructure to meet future demand and attract investment. We must avoid heavy-handed interventions that distort the market and penalise consumers. A one-size-fits-all approach won’t work. The transition to zero emissions must be inclusive, stable, and grounded in real-world needs.

I continue to raise awareness of the ongoing risks of #COVID19 to people, businesses, and the economy. A new research study finds that we now have a higher year-round baseline for work absences that resembles the levels we only used to see during flu season before 2020. (It isn't your imagination—people ARE sicker more often today.) The study also found that people leaving the workforce after health-related absences remain higher, even after the public health emergency ended. “Labor force exits after a health-related absence also continued to be elevated, with 13.1% more exits in the postpandemic period compared with before the pandemic (13,500 monthly exits).” The researchers note that “health-related absences also continued to induce some workers to persistently exit the labor force, magnifying their economic costs.” They recommend that “policymakers should consider the consequences for workers, including the value of policies and actions that mitigate the spread of COVID-19 in the workplace.” The study concludes, “Ongoing SARS-CoV-2 circulation has continued to negatively affect the US labor force through 2024 by increasing health-related absences and subsequent exits from the labor market.” This data, collected from the Current Population Survey, tells the story of how, even after we decided to pretend that COVID was gone, we never really returned to “normal.” Meanwhile, the Federal Reserve continues to report that disabilities among workers are significantly elevated today compared to the pre-pandemic period, and the number only continues to rise, even in 2025. What does all this mean? For you: COVID is still a risk, not just for acute illness but for chronic health problems, disabilities, productivity, and employment. COVID never went away, nor did it become a seasonal virus, as it frequently surges multiple times a year. Taking some precautions, particularly during periods of high viral activity, is a common-sense decision to protect yourself, your peers, and your family. These include avoiding crowds or wearing masks, particularly when COVID is surging. (In the US, COVID risks are now declining after our recent summer surge, but they will increase again in winter. Meanwhile, much of Europe is now seeing a surge of COVID infections.) For business leaders: COVID is still raising workplace disruptions and costs due to absences, workplace accommodations, healthcare benefits, and turnover. You can lower these risks by improving air quality in the workplace, discouraging presenteeism, and allowing more work from home (especially during surges). Study: https://lnkd.in/gzccSd7k FRED data on disabilities: https://lnkd.in/gbnfCHXH Spreadsheet of 2,600 studies demonstrating COVID's long-term risks to physical and mental health: https://lnkd.in/evRQe2rD

Most neighborhood revitalization strategies get one thing fundamentally wrong. They focus on buildings, incentives, and investment — and ignore the social fabric that actually makes places work. A new report by the UK"s Independent Commission on Neighbourhoods on the Strategies for Renewing Neighborhood Social Infrastructure makes this case clearly — and uncomfortably. It argues that the small, everyday places we tend to overlook — local shopping strips, cafés, laundromats, community hubs — are not just amenities. They are social infrastructure. They are where: ✅ Relationships form ✅ Trust is built ✅ Community identity takes shape And when they disappear, something deeper breaks. What struck me most is how directly the report challenges the dominant playbook. Too often, we try to fix neighborhoods by: 🔵 Attracting outside investment 🔵 Building new physical infrastructure 🔵 Launching programs aimed at “growth” But without strong social foundations, these efforts rarely produce lasting change. The report shows that the most successful neighborhood turnarounds didn’t start with capital projects. They started with: ✅ Local actors stepping up to take responsibility ✅ Deliberately shaping the mix of local businesses and spaces ✅ Building networks between residents, traders, and institutions ✅ Activating places to bring people together In other words: they rebuilt connection before chasing growth. That’s the real lesson. If we are serious about strengthening neighborhoods — in the U.S. or anywhere else — we need to rethink what we invest in. Not just: 🔵 Physical infrastructure 🔵 Economic incentives But: ✅ The places where people gather ✅ The local institutions that build trust ✅ The networks that hold communities together Because ultimately: Economic development does not create strong communities. Strong communities create the conditions for economic development. This is a report worth reading — especially if you’re working on neighborhood revitalization, economic development, or community building. (See link in comments.) It will challenge how you think about what actually drives change. #community #neighborhood #equity #inequality #health #urban Purpose Built Communities Placemaking Education Cormac Russell Frances Kraft Vanessa Elias Usha Srinivasan Jennifer Prophete Kevin Ervin Kelley, AIA Lory Warren Noah Baskett Matt Abrams Anna Scott Ethan Kent John B. Carol Naughton Sarah Strimmenos Ben Lewis Tim Tompkins Aaron Kuecker Aaron Hurst Tim Soerens Sam Pressler Tracy Hadden Loh David Erickson Shawn Duncan Mollie Johnson Katie Delp Carola Signori Andrew O'Brien Madeleine Jennings Ross Mudie Ben Glover Kirk Wester-Rivera Lorenzo A. Watson David Edwards Tim Tompkins Jonathan Haidt Alexa Arnold Pronoy Sarkar

Go green, or go home? Not really... we have a ways to go. The Victorian Government's Economic Bulletin shows Australia’s per capita transport emissions are 45 per cent higher than the OECD average. Given Australia's geography and land size, the transport industry is a large and important contributor to the economy's growth and development. On the flip side, the transport industry is the country's third largest source of greenhouse gas emissions, posing a significant source of long-term climate change risk. How can we accelerate #EV adoption? Treat it like any other #changemanagement #transformation initiative. Applying these principles to the EV transition means: 📍 Incentivising Early Adopters: Recognise and reward early adopters who can act as ambassadors and influencers for the broader community. 📍 Create the Right Environment: Introduce significant tax breaks and rebates for EV purchases, increase investment in EV charging infrastructure across urban and rural areas to alleviate range anxiety and encourage more drivers to make the switch. 📍 Corporate Switching Made Easy: Encourage companies to transition their fleets to electric vehicles through subsidies and support. Large-scale fleet changes can create a visible shift in the market and normalise EV use. 📍 Spreading Positive Narratives: Share success stories of individuals and businesses that have successfully transitioned to EVs. Personal testimonials - combining logic and emotion - are incredibly persuasive. 📍 Community is Key: Engage with local communities to understand their concerns and preferences regarding EVs, ensuring solutions are tailored to meet their needs, enabling widespread addoption. Australia has the potential to be a frontrunner in the electric vehicle revolution. By implementing these strategies, we can not only boost EV adoption but create a thriving industry that offers new career opportunities and environmental benefits. Have you made the switch? What's been the biggest pain and gain with your #electricvehicles? #SustainableTransport #Innovation #linkedinnewsaustralia #BehaviorChange

🚨 Most cities are stuck in an outdated economic model—and they don’t even realize it. Lisbon being one of them... For years, cities have been chasing more tourists, more hotels, more visitors. But what happens when tourism slows down? When a crisis hits? Or when tourism starts to negatively impact the local life? 📉 Tourism is fragile. 📉 Tourism is seasonal. 📉 And tourism alone won’t build a strong economy. The smartest cities are shifting their focus. Instead of chasing short-term visitors, they’re attracting: ✅ Entrepreneurs & investors who build businesses and create jobs. ✅ High-value professionals who stay longer and contribute more. ✅ Business & tech ecosystems that bring long-term stability. Look at Dubai, Singapore, and Málaga—they’ve repositioned themselves from tourist hotspots to economic powerhouses. Here’s how cities can make the shift: 1️⃣ Invest in work-friendly hospitality & business spaces. Stop building just for tourists—build for professionals who stay. 2️⃣ Create policies that attract business, not just visitors. Tax incentives, startup grants, and long-term visas like the nomad visa with a clear path for residency. 3️⃣ Market the city as a place to build, not just visit. Position it as a global hub for founders, investors, and innovators. Instead of asking, “How do we attract more tourists?” Cities should be asking, “How do we build an economy that attracts people who actually invest in it?” 🚀 Which cities do you think are leading this shift? Drop your thoughts in the comments. #FutureCities #EconomicDevelopment #BusinessTourism #InvestmentAttraction #SmartGrowth #CityStrategy #InnovationHubs

Here's why local manufacturing is important for tech innovation. The conventional wisdom says innovation happens in Silicon Valley and manufacturing in Shenzhen. But after three decades in tech, I've learned that separating thinking from making is innovation's biggest bottleneck. When design teams sit continents away from production lines, products get optimised for boardrooms, not reality. The feedback loop stretches from days to quarters. Market insights get lost in translation. By the time products reach end users, the world has moved on. Local manufacturing compresses this cycle dramatically. Engineers can walk the factory floor in the morning and redesign by afternoon. Quality issues become innovation opportunities in real-time. More importantly, proximity to actual users sparks insights that distant R&D centres might miss entirely. Consider India's unique challenges - extreme temperatures, voltage fluctuations, dust, humidity variations. Products designed for controlled environments fail spectacularly here. But when manufacturing happens locally, these constraints become innovation drivers. Suddenly, products emerge that work not just in ideal conditions but in real-world chaos. The ecosystem effect multiplies this impact. Local suppliers stop being just vendors - they become innovation partners. Educational institutions align with industry needs. Startups emerge to solve niche problems. The entire value chain starts thinking, not just executing. Critics point to global supply chain efficiencies. True, but efficiency without relevance is meaningless. The technology that transforms lives in Tier 3 cities needs fundamentally different innovation than what works in Taipei or Toronto. Innovation isn't about where you think. It's about how close you are to the problems worth solving. . . #TechInnovation #LocalManufacturing #MakeInIndia #ProductDesign #HardwareInnovation #TechForIndia #ProductDevelopment

When good strategy goes wrong: A $35M lesson from my home county An article about Selby, South Dakota caught my eye – not because it made headlines, but because I grew up on a farm in Walworth County. Selby was our "big town," although, like most rural communities, it has been slowly dying. The story: A fourth-generation farmer partnered with an energy company on a 3,200-acre solar project that would have generated $1M annually in tax revenue for 35 years. The community desperately needed it. Their jail was condemned, grocery store shuttered, and nearby high school closed. The outcome: Organized opposition ultimately killed the project. Reading this through a strategy lens revealed three critical lessons that apply far beyond rural energy projects: 1. Individual decisions aren't always individual. Colton Berens thought he was making a private property decision. But a project generating $35M in community value over 35 years was never going to stay private. The strategic error: Treating a community-impact decision like a personal one. Coalition-building should have started on day one, not after the opposition organized. 2. Facts are necessary but not sufficient. The project had solid economics, environmental studies, and safety data. The opposition had fear, emotion, and compelling but misinformed stories about "toxic panels" and "burning birds." Guess who won the hearts and minds battle? The insight: In contested environments, your narrative strategy matters as much as your data strategy. 3. Trust deficits demand different tactics. This felt like a Howard Roark moment – one principled individual against a community of naysayers. But unlike Ayn Rand's architect, real-world strategic success requires working through trust challenges, not around them. The solution: Find credible local champions who can bridge the trust gap before you need them. The broader lesson: Even the most rational, beneficial projects fail when strategy ignores the human dynamics of change. The technical merits matter, but the social strategy often determines the outcome. While I left Walworth County years ago, watching a community choose decline over revival because of strategic missteps feels like a parable for our times. What examples have you seen where solid projects died because the social strategy lagged behind the technical strategy? https://lnkd.in/g4Xi9ENe

One political decision can wipe out a startup overnight. I’ve seen it happen. Earlier, I never used to care about global politics. It felt too distant, too complicated. But over the years, I’ve realized this one thing that if you’re in business, investing, or startups, geopolitics isn’t just news. It’s personal. Think about it. A few years ago, raising funds from anywhere in the world seemed easy. Today? Investors are cautious about China. The US is tightening foreign investments. The Middle East is emerging as a startup funding powerhouse. Money moves where politics allows it. Tech is the new battleground. The US and China are competing in AI, and India is working on making its own semiconductors. Rules like GDPR and India’s data laws are making startups change their plans quickly. Ignoring these changes means taking big risks. I’ve seen startups make (and lose) millions because they ignored global trends. One regulatory change, one political shift - boom, business model disrupted. We can’t afford to be reactive anymore. So, this is what I do  ✅ Always track where capital is flowing – it tells us where the opportunities (and risks) are. ✅ Look at how tech policies are evolving – AI, data privacy, digital payments… regulations decide who wins. ✅ Think long-term – a business that depends on unstable policies isn’t future-proof. We don’t have to be geopolitical experts. But we do need to be aware. Because whether we like it or not, the world is changing, and it’s changing fast. What’s your take? Do you think startups should focus more on global trends? Let’s discuss this. #Geopolitics #Startups #BusinessStrategy #AI #DataPrivacy #Investments #GlobalTrends #TechPolicy #Entrepreneurship

The NIVA - National Independent Venue Association just released its first-ever State of Live report, which looks at the economic impact, community value, and current challenges facing independent venues, promoters, and festivals across the United States. Here are some of the top insights from the report: 1️⃣ Independent Venues Are Economic Powerhouses—Yet Financially Fragile: Independent live venues, promoters, and festivals contributed an impressive $86.2 billion to U.S. GDP in 2024, supporting 908,000 jobs and generating $153.1 billion in total economic output. Despite this impact, 64% of these venues operated at a loss last year, undercut by inflation, monopolistic industry pressures, and predatory ticket resale practices. 2️⃣ Independent Stages Create Jobs and Community Value Across the Nation: The sector directly employs over 316,000 people and sustains a total workforce surpassing 907,000 when accounting for contractors and businesses in the ecosystem. Independent venues offer opportunities in creative, technical, and service roles—fueling economic mobility and supporting livelihoods in communities of all sizes, from major cities to rural towns. In 2024, these jobs generated $51.7 billion in wages and benefits, supporting families and strengthening local economies 3️⃣ Live Events Drive Local Economies and Tourism: Fans attending independent shows generated $10.62 billion in off-site spending in 2024, filling hotels, restaurants, shops, and supporting local transit. This spillover represents 9.2% of total U.S. travel and tourism revenue, demonstrating that the value of independent venues extends far beyond ticket sales and into the heart of community commerce. 4️⃣ Rising Costs and Industry Challenges Undermine Stability: Operating costs are accelerating: 60% of venues expect artist fees to rise in 2025, and most anticipate higher expenses for staffing, insurance, and rent. At the same time, venues face significant threats from ticket resale platforms, forced ticket transferability, and restrictive industry practices—challenges that erode revenues and threaten the sector’s long-term sustainability. Check out the full report below ⤵️