M•CAM NEWSLETTER
SECOND QUARTER 2012 1
THE NAVIGARE
SECOND QUARTER 2012
www.M‐CAM.com
Volume 2, Number 2
FEATURE STORY: INSIDE THIS ISSUE:
M•CAM in the Media Spotlight
M•CAM IN THE MEDIA SPOTLIGHT
1‐2
CAPP™ On the Capitol: M•CAM Education Takes Aim On Capitol Hill
2
2012 Heritable Innova‐ tion Trust Internship Program
3
Financial Times: Alphaville Rebuttal
4
Intern(al) Summer
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Meet M•CAM’s 2012 Summer Interns
6‐7
A Recap: Inside the Life of an Analyst (This Quarter)
7
David Martin Delivers Keynote Presentation at SWIIS 2012 Conference
8
Featured Community Member of the Quarter
9
By Megan DeLuccia Less than a year ago, Dr. David Martin ap‐ peared on Bloomberg West with Cory John‐ son and famously called the Motorola Mobility acquisition “crap”. Since then, M•CAM ‘s media coverage has seen tremendous growth. Before supplying a complete update on our recent presence in the media world, I would first like to honor the M•CAM team effort on this front during the first and second quarters of 2012. Our Analyst team’s production of Patently Obvious reports helped to build our reputa‐ tion for being a transparent and reliable source of knowledge within the media world. Each week the Patently Obvious reports are sent out to over 200 media reporters focused in the area of intellectual property. One of the biggest wins was the syndication of the Patently Obvious reports on the TechDirt website by founder and CEO of Floor64 and Editor of TechDirt, Mike Masnick. Another noteworthy advocate for the media team is Dan McGlinchy, together with long time M•CAM client and friend Mark Bakar. They utilized their personal connections to introduce us to Cory Johnson of Bloomberg West. It was this introduction which led to the “crap” interview and countless more ever
since. Following that noted interview, Dr. Martin has been featured on Bloomberg multiple times and M•CAM ‘s expertise has been sought after and featured in some of the most well renowned media outlets including the New York Times, Wall Street Journal, National Public Radio (NPR), Financial Times, and Bloomberg Businessweek. As of late, the M•CAM message is not only being spread from Dr. Martin’s interviews, but from other members of our team as well. David Pratt was recently quoted in Bloomberg discussing AOL’s “junk grade” patents assum‐ ing that a lower valuation on AOL’s patents could hurt the company’s chances to generate enough dollars to spur a sale of the company. Adam Tepper was quoted in The Wall Street Journal regarding the Oracle‐Google War and its effect on the smart phone market. Ken Dabkowski has also been a voice introducing the CAPP™ program to the media and Senators and Representatives on The Hill. We were most recently featured in the Financial Times regarding our CAPP™ program in an article entitled, “Banks Eye on Intangible
Continued on page 3
M•CAM NEWSLETTER
M•CAM IN THE MEDIA SPOTLIGHT (CONTINUED) Continued from page 1
Assets as Collateral”. It has brought more awareness into the world about intangibles being an actual asset class. Adam Tepper was quoted as saying “We’re giving the insurance com‐ panies a pathway to provide new capital to banks.” The full article can be found here. David Martin and Colleen Martin will be attending the Cannes Lions International Festival of Creativity. Dr. Martin will be speaking with Jimmy Smith Chairman, CEO and CCO of Amusement Park Entertainment and Michael Roth Chairman and CEO of Interpublic Group about the launch of M•CAM’s newest joint venture, APQ. The Festival is also the only truly global meeting place for advertisers. We are looking forward to seeing what relationships are sparked as a result of M•CAM’s participation in the event. Our media outreach efforts expand much broader than email, phone, and TV and radio interviews, it also expands to social media networks as well. Our Facebook and Twitter pages are live and full with content. Our social media outlets are a great way to stay informed and to stay in touch with us. If you haven’t already, be sure to follow us on Twitter and “Like us” on Facebook!
CAPP™ IN THE CAPITOL:
M•CAM EDUCATION TAKES AIM ON CAPITOL HILL CAPCAPITOL By Ken Dabkowski
Over the past two months, M•CAM has significantly increased its presence and impact in Washington D.C. This effort started at The Atlantic Magazine’s conference on Economy where the CAPP™ program was introduced to the Former Secretary of the U.S. Department of the Treasury, Larry Summers, National Economic Advisor, Lawrence Lindsay, and Director of the National Economic Council (under President Obama), Gene Sperling. Given the fact that the collateral enhancement product is structured to comply with banking and financial services
SECOND QUARTER 2012 2
regulations which date back to the Lincoln Administration (yes, the Banking Acts of 1963 and 1964), we are providing a bank capital solution which requires no new laws and no government appro‐ priations. Our mission on Capitol Hill is focused on informing rele‐ vant lawmakers and oversight agencies about a banking solution which is highly effective and politically palatable. With the elector‐ ate convinced that bailouts are bad, M•CAM’s CAPP™ currently stands as the unique regulatory capital solution for the nation’s banks. We individually approached the 61 members of the House Financial Services Committee and the 22 members of the Senate Banking, Housing, and Urban Affairs Committee as well as Virginia and Congressional leadership offices. Each member’s office was introduced to CAPP™ via informational packets. We then followed up to educate staff and garner committee support for possible Committee hearings on the issue. M•CAM staff attended three House Financial Services Committee hearings and one Senate Finance Committee hearing and introduced the CAPP™ program to “The Clearing House” Senior Vice President and Head of Regulatory Affairs, Daniel J. McCardell. Significant progress has been made with Congressman Robert Hurt’s office. Congressman Hurt is from the 5th District of Virginia. Hurt staff member and University of Virginia alumni, Bryan Wood has been liaising with M•CAM to create “Questions For the Record” (QFR) to add to Committee hearings, as well as helping us pursue direct formal communications to and with the Federal Reserve Bank of the United States. M•CAM is currently collaborat‐ ing with Mr. Wood and Committee members towards organizing an educational hearing on intangible assets in finance. As early investors in M•CAM know, our success from 1999 through 2000 on the first introduction of CAPP™ with SwissRe and Bank of America came through David Martin’s frequent interactions with Congress and bank regulators. Working with Columbus Newport (an early investor), Congressional delegates, the FDIC and the OCC, we succeeded in building a regulatory environment that warmly embraced our solution. Now that we’ve succeeded in building much larger facility solution for Tier 1 Capital, the stakes are higher and the information need is greater.
M•CAM NEWSLETTER
SECOND QUARTER 2012 3
2012 HERITABLE INNOVATION TRUST INTERNSHIP PROGRAM By Denise Holman
MICHAEL VENABLE
JULIA CRAIG
HECTOR FELICIANO‐AYALA
The 2012 Heritable Innovation Trust (HIT) Internship Program was more competitive and cutting‐edge than ever before! This year’s program received a higher volume of qualified applicants than in years past. Katie Martin, the HIT Trip Coordinator, amped up both the selection process and training methods. She worked tremendously hard to create and implement, literally, a one‐of‐a‐kind internship program. This year’s program welcomed three (3) exceptional young students—all from Christopher Newport University (CNU), based out of Newport News, Virginia; Hector Ayala, Julia Craig, and Mike Venable. They, along with Katie Martin, traveled to Papua New Guinea at the end of May to work closely with our dear friends Theresa Arek, Sharmayne Ryan, and Ian Sexton to expand our internationally exclaimed HIT Program.
“Hola! My name is Hector Feliciano‐Ayala and I was born and raised in Mayaguez, Puerto Rico. I recently graduated from Christopher Newport University and earned my degree in Interdisciplinary Studies with concentrations in Psychology, Sociology, and Leadership. My heart and soul are truly found on the basketball court. I have been playing basketball competitively since I was four years old.
“Hi, I’m Julia. I am from Madison County, Virginia and I am 21 years old. I currently attend Christopher Newport University. I am a Sociology major with a Leadership minor and a Philosophy and Religious stud‐ ies minor. When I graduate, I want to join a non‐profit organization and travel while helping people at the same time.
Besides providing me with joy and happi‐ ness, basketball has provided me with many experiences. I have been able to see many parts of the world through the game of basketball. I firmly believe that the sport of basketball is a good platform to use to create change and to impact the lives of many people around the world. I am cur‐ rently one of the 5 finalists for the 2012 Shooting Touch Sabbatical Program, which provides its recipient with $25,000 to cre‐ ate social change and community develop‐ ment through the sport of basketball.”
I love to travel and experience new things. I enjoy any type of adventure and I try to always have an open mind. I love taking photographs and would like to make some sort of career out of that as well. My family and friends mean the world to me. I have played sports my whole life, but currently only play club soccer at CNU. I am very involved in Young Life as a volun‐ teer leader. My faith is a strong personal motivator in my life. I am obsessed with baking cupcakes and plan on owning a cupcake shop someday.”
“Hello, my name is Michael. I was born in Goldsboro, North Carolina. My father has been an active member of the United States Navy for over twenty years. My mother is an elementary school teacher and has been teaching on and off for over twenty years. I am also the youngest of three children. Due to my fathers’ occupa‐ tion, I was fortunate enough to travel many times across the United States, camping and hiking throughout the National Park System. I have lived in five different states on both the East and West Coast. I have always been very involved in athlet‐ ics; starting to participate in foot races when I was three years old and at age five I became the North Carolina State wrestling champion for my weight division. My love for athletics continued into high school, and college. At CNU, I was selected to participate on the football team. I am currently a Sophomore majoring in Political Science with a minor in National Security.”
M•CAM NEWSLETTER
SECOND QUARTER 2012 4
FINANCIAL TIMES: ALPHAVILLE REBUTTAL By Adam Tepper
The concerns voiced by FT Alphaville and its commentators in Of course as we discuss asset values, ReBS also tell a cautionary response to Brooke Masters’ article “Banks Eye Intangible Assets tale in which the lesson (and comparative benefit) of intangible as Collateral” are valid and important issues for which M•CAM asset collateral lies within the details. With ReBS, the fundamen‐ has spent the past 13+ years engineering regulated solution. tal problem was not in the intrinsic value of real estate but in a When we “peel back the onion” on these issues it becomes clear dependence on a circular appraisal system that created the real concerns are not so much related to whether intangible self‐reinforcing inflated values. Had the mortgage market relied assets have value, but whether the expected salvage value is too on liquidation values for their “lendable” values we would not high. For instance, if we were to look at Coca‐Cola®, I don’t think have experienced the bubble and (painfully) inevitable collapse. any of us would disagree with the statement the secret formula For this reason, the “how much” part of the story (see above) is or, more importantly, the trademarks of Coca‐Cola® were so important. extremely valuable, including in a scenario where Coca‐Cola® had gone into liquidation. The question really then becomes how In our underwriting systems, we do not depend on hypothecated much asset salvage value you could recover and how long are you markets but look explicitly at actual and current cashflows that are controlled by the “right to exclude” nature of most intangible willing to wait to maximize value? assets (e.g., patents, trademarks, copyrights, etc…). In other To get back to the example, if I told you that I could sell you the words, if you have the cure for cancer but you haven’t started perpetual, exclusive, global rights to Coca‐Cola® (the world’s selling it, we would value it at zero. After identifying actual cash‐ most famous brand), would you find a way to pay me $100 for flows we discount the value attributable to them to anticipate those rights? Almost everyone would reach into their pocket and distress at the time of a sale as well as to expedite the speed of pay me on the spot! How about $1 million dollars? Assuming the transaction (e.g., create more liquidity). Additionally, intangi‐ you had the money or knew how to raise the capital, 95%+ of ble assets whose only identifiable use is within the same sector as people would find a way to pay me as soon as possible. How the original borrower deployed them (e.g., if the only other users about $100 million or $1 billion? A lot less people/companies of Coca‐Cola®’s brand were other soft drink manufacturers), then we would discount the expected liquidation value even further. would have the means, and it would take a lot longer to consum‐ mate the deal. We could play this example out with IBM’s patents or Apple’s designs and the same dynamic would To be clear, this product will not be a panacea for all bank capital needs nor will the quality of intangible assets of MOST corporate emerge….How much for how long? borrowers be sufficient to expect ANY salvage value for the Of course, in the aftermath of the financial crisis of 2008, com‐ assets. We would agree whole‐heartedly that stringent require‐ parison to other collapsed markets like Credit Default Swaps ments defining the quality of underwritten assets are paramount. (CDS) or real‐estate backed securities (ReBS) is inevitable. While In fact, the caliber of M•CAM’s diligence systems is so strong that CDS feel like a benchmark (with corporate default rates as the M•CAM has been the sole source provider of investigations into fraudulent patent donations for the IRS as well as the backbone apparent tie), when we dig closer we see some significant differ‐ ences. CDS have a default “trigger” as opposed to secured collat‐ of most IP infringement insurance in the past decade. eral (intangible or tangible, for that matter) which, by its very nature, has a foreclosure trigger. That means the moral hazard Wherever you come out on the value of any given asset, it is clear that there is tremendous latent value in this overall asset class. (e.g., the tendency to take more risk since someone else is foot‐ ing the bill) is no riskier for this class of assets than it is for any When you realize that banks are currently getting absolutely NO credit for these assets, even though they have been encumbering other form of collateral. Unlike the unbounded markets of syn‐ them through a “general intangibles lien” going all the way back thetic CDS (notional amounts exceeded US$60 trillion in 2007), exposure to intangible collateral cannot exceed the aggregate to the Lincoln administration, even deeply discounted values existing credit facility (total outstanding loans at the end of 2011 would provide liquidity. As little as $1 for 1 day of increased were approximately US$1.1 trillion). Accordingly, between bank value is an infinite improvement (literally) in helping banks to usury laws and asset liquidation priorities defined by the U.S. align their regulatory risk with their actual risk. Bankruptcy Code, the size of a loan (which has already been origi‐ nated) acts as an inherent check to moral hazard. Moreover, regardless of how skeptical someone may be about the liquidation value of any given asset, intangibles as a class have some value. Accordingly, a trigger on CDS is a full loss with absolutely no pathway to any salvage value while the sale of an asset, even an intangible asset, preserves a conduit for an asset holder to recover some value.
__________________________________________________________________ Vause, Nicholas, “Counterparty risk and contract volumes in the credit default swap market (13 December 2010).” BIS Quarterly, http://www.bis.org/publ/ qtrpdf/r_qt1012g.pdf Board of Governors of the Federal Reserve System, FDIC, OCC, “Shared National Credits Program 2011 Review”, (August 2011)”: Washington, D.C.: http:// www.federalreserve.gov/newsevents/press/bcreg/bcreg20110825a1.pdf
M•CAM NEWSLETTER
SECOND QUARTER 2012 5
INTERN(AL) SUMMER By David Martin
After the last azaleas and dogwoods have lost their flowers in the early summer thunderstorms, M•CAM blossoms with an annual crew of interns. Since its inception (and in its predecessor, Mosaic Technologies Inc.) M•CAM has maintained an active tradi‐ tion of building academic relationships with students from across the globe. Situated in Charlottesville, home to the University of Virginia, we’ve been fortunate to draw from the enthusiastic student bodies of UVA and several other institutions in the Com‐ monwealth including a disproportionate number of interns and community members from Christopher Newport University. Our founding sponsorship of the Center for Intelligent Systems and Machine Learning (CISML) at the University of Tennessee, Knox‐ ville and our academic partnerships with the University of Califor‐ nia and University of Maine have afforded us access to some of the most talented graduate students in computer science, mathematics, economics and law. Our intern classes are truly global with people coming from Romania, India, South Africa, Venezuela, and China. The majority of our internships are 13 week Educational Intern‐ ships where students will spend the first few weeks learning about all of M•CAM initiatives ranging from intangible asset finance products to Trade Credit Offset clearinghouse programs, to Innovation Literacy initiatives, such as Heritable Innovation Trust and Global Innovation Commons. In recent years, M•CAM has also welcomed interns to help develop the Integral Account‐ ing framework including two interns – one from India and one from China. They both assisted in building the first prototype computer programs for Integral Accounting. This Summer’s class is multi‐disciplinary and diverse. Young men and women from the U.S., Puerto Rico, and India will be:
interns ultimately join the organization, our focus is quite differ‐ ent. M•CAM has always been seen as a complicated mission‐ oriented company with highly divergent streams of activity. From shareholders to partners to customers, finding better ways to communicate our objectives across a broad spectrum of stake‐ holders is vital. For this reason, one of our core objectives with the interns is to refine our education programs, not only for the benefit of their experience, but also for us to refine our community integration and on‐boarding programs. During the past year, an expansive curriculum has been devel‐ oped to assist in assimilating new individuals into the M•CAM ecosystem. Some of these resources are open to the public like the M•CAM Financial Literacy Timeline http://www.m‐cam.com/ timeline. We’ve edited hundreds of hours of video, audio and visual content into training modules to introduce people to our operating principles, the domestic and international legal and regulatory paradigms that impact our business, along with academic materials to expand the multi‐cultural perspectives of those who join us. Realizing the volume of material that must be assimilated to fully function in the M•CAM ecosystem, we’ve modified our full‐time engagement on‐boarding process to begin with a three month literacy ‘boot camp’ followed by a three month technical training apprenticeship. Only after a candidate has successfully completed this six month period, are they considered for a full‐ time engagement position. Realizing the fact that, to be qualified as an Analyst – the typical entry level position – a person must complete a minimum of six months of intensive training, our abil‐ ity to refine the education process and content is vital and our interns serve as valuable critics of these programs.
Continuing our long‐standing program with our Heritable Innovation Trust archival program in East New Britain, Papua New Guinea coordinated by Katie Martin and Theresa Arek;
As a result of the high volume of interest from individuals who would like to experience what it is like to be part of the M•CAM community, new to M•CAM, is a formal year‐round internship program offering three seasonal internship periods:
Expanding our public equity quantitative trading model in partnership with established and new fund managers coordinated by David Martin, Colin Thomas and Adam Tepper;
Winter/Spring Internship: Start Early February — late April (Applications due by 2nd week in January)
Deepening our forensic data collection and integration frameworks and advanced unstructured data modeling techniques coordinated by Colin Thomas; and,
Expanding our corporate communication outreach coor‐ dinated by Megan DeLuccia, Ken Dabkowski and others.
These initiatives pump vital creativity into the organization and insure we keep fresh perspectives on our legacy programs and new undertakings. Many organizations conduct internship programs as a testing ground for screening prospective employ‐ ees. And while we have been fortunate to see many of our
Summer Internship: Start Late May — Mid August (Applications due by 2nd week in April) Fall/Winter Internship: Start Early September —Early Decem‐ ber (Applications due by 2nd week in August) M•CAM is now accepting internship applications year‐round. For more information or to apply for an internship, please send an expression of interest and resume to Denise Holman at dlh@m‐ cam.com.
M•CAM NEWSLETTER
SECOND QUARTER 2012 6
MEET M•CAM’S 2012 SUMMER INTERNS By Denise Holman
To piggyback off of David Martin’s article “Intern(al) Summer” (featured on page 5) about M•CAM’s top‐notch intern‐ ship program, here is some additional information about this program and the excellent class of individual we are hosting this Summer.
M•CAM offers 2 classes of internships —Educational and Technical. While both are incredibly rich learning experiences, there are a few important differentiating factors worth noting. Educational Interns spend the first several weeks of their intern‐ ship focusing on learning about M•CAM and then they collabo‐ rate with their Internship Advisor to develop a project which they present to the M•CAM community at the end of their internship. Technical Interns come into the M•CAM ecosystem with a specific project or goal which meshes with the needs of M•CAM. This Summer, we have 3 Educational Interns and 3 Technical Interns working on a wide variety of tasks and projects. The fol‐ lowing interns are here with us in the office every day—learning and working towards the completion of their Summer projects. These projects vary depending upon the type of internship they are completing: Educational or Technical. Take a moment to familiarize yourself with our interns and see if you can decipher the Educational Interns from the Technical Interns!
Erik Idoni “My name is Erik Idoni. I'm a rising fourth‐year at UVa study‐ ing Economics and Government and I love driving. I'm learn‐ ing about all aspects of M•CAM before I start working on a project of my choice that I will be presenting at the end of the summer.
Sudarshan Srinivasan
“I am a graduate student at the University of Tennessee, Knoxville pursing my PhD in Computer Science. My research area is Human‐Robot Cooperation. My interests include data mining, machine learning, artificial intelli‐ gence, and recently due to my work at M•CAM, finance. I like hiking and playing video games.
Keegan Flynn
“I am going to be a third‐year at the University of Virginia where I am studying Economics and Foreign Affairs. I enjoy sailing, playing music, and hanging out with my friends. This summer, I am hoping to work on a project involving the promotion and scaling of M•CAM ’s Certified Asset Purchase Price (CAPP™) program to the money center bank.”
My work for the summer is twofold. One part is to build a web crawler that can crawl financial and technology sites for press releases, news articles related to comparable transactions involving R&D, Mergers & Acquisitions, and Licensing & Contracts. The other part is to cluster these crawled web pages into categories pertaining to various classes, where each class represents the quality of the web page in terms of the comparable transaction information it contains that is usable by our analysts for further analysis.“ Continued on page 7
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SECOND QUARTER 2012 7
MEET M•CAM’S 2012 SUMMER INTERNS Continued from page 6
Alex Stott
Cody Lloyd
“I am going to be a senior this year at CNU majoring in Communications. I am from Stafford, Virginia. I absolutely love baseball —my favorite team is the Los Angeles Angels of Anaheim. I will be helping Megan DeLuccia this summer by doing research on different key words that effect countries such as Mongolia, Papua New Guinea, Peru etc. After my research I will be creating blog posts for the Global Innovation Commons and the Heritable Innovation Trust.”
“I’m a 2012 graduate from UVa with a degree in Financial Mathematics. Harboring an unreasonably strong love of bears, my college roommate and I wrote a comic about them for two years. In my spare time I like learning new things and practicing Tuvan overtone signing.
Matt Weyback
“I am a rising third year at the University of Virginia, where I am studying Finance and Government. At UVa, I am a member of the student investment club that finished 4.9% above the S&P in 2011.
At M•CAM, I am hoping to look into commercial bank lending practices and This summer I’ll be working with Hayden identify opportunities for collateral Luse, former M•CAM Intern and newly enhancement.” added to the full‐time staff, on the next vision and phase of the Susceptibility Project.”
A RECAP: INSIDE THE LIFE OF AN ANALYST (THIS QUARTER) By Meredith Wouters
During the past quarter the M•CAM analysts have been focus‐ ing on compiling patent portfolios for parties embroiled in patent infringement litigation. The analyst team has been reaching out to entities with primary intellectual property (IP) assets, which could mitigate losses in litigation. The most interesting part of these deals is being unsure of what the final result will be. In building patent portfolios for distressed parties, the patents need early priority dates and their strengths in terms of commer‐ cialization must be assessed. The licensees and licensors must mutually agree on a price for each of them. Licensors also under‐ stand that their IP is one of many parts which comprise the port‐ folio. These portfolios will grant the licensees a Freedom to Oper‐ ate in their fields. Being between the two parties, M•CAM is a
negotiator of the entire potential portfolio. Analysts have also been working on assessing the IP of companies in bankruptcy or expected to be in bankruptcy. These assess‐ ments are for possible purchasers of the properties and the eq‐ uity holders. This is a beneficial direction for M•CAM because there is often limited or confusing information around intangible assets and their abilities. Rather than follow headlines, consum‐ ers of distressed assets can engage M•CAM to provide them with knowledge of where the IP could be utilized in traditional and non‐traditional markets. These agnostic assessments of well‐ known brands are true dissections, which are necessary to pro‐ vide visibility into an area normally cloaked in misrepresentation.
M•CAM NEWSLETTER
SECOND QUARTER 2012 8
DAVID MARTIN DELIVERS KEYNOTE PRESENTATION AT THE SWIIS 2012 CONFERENCE By Denise Holman In early 2012 David Martin was invited by long‐time colleague and friend Dr. Larry Stapleton to deliver a Keynote Presentation for the 2012 SWIIS Conference held in Waterford Ireland. This conference, which took place last week, was a major international forum supported by the IFAC on International Stability and Systems Engineering. At the conference, David delivered a Keynote Presentation entitled, “An Inquiry into Human Nature and the Cost of the Wealth of Nations” where he brought to light the problems that arise from continuing to conduct ourselves in the industrialist Adam Smith paradox. He went on to provide alternative perspectives for future engagement encouraging collaboration through the utilization and application of Integral Accounting. “By liberating our optics that under the Adam Smith cosmology rendered value in alternations of phases and states through the surro‐ gate of stored value animated by money, we may find ourselves engaging more and manipulating less.” The presentation was one of the most clearly articulated explanations of Integral Accounting to date, emphasizing the importance for the current system to take a holistic approach in modernity and antiquity in terms of wealth metrics. During the presentation, he discussed the paradigm of accounting for wealth and abundance across six dimensions of value called Integral Accounting. These six dimensions are Commodity, Custom and Culture, Knowledge, Money, Technology, and Well‐Being. Each dimension is intra‐dependently exchangeable, definable, assessable, inclusive, and interactive. Teaching ourselves to recognize value across these six dimensions moves us, and the systems we operate in, forward increasing inclusivity, value, and over‐all utility. He went on to introduce the following equation as a vital element of the presentation:
Wealth = Utility x Retained Optionality∞ Where ∞ = ∫ of all users across all value dimensions. When one considers this formula, one can readily see the greatest wealth is experienced when the maximum derived (in number of participants) from the least phase and state alternations (for more on this, take a look at David Martin’s previous Inverted Alchemy writings on Phase and State Coherence. The more value, in terms of Integral Accounting dimensions, that can be simultaneously appreciated by the more participants, the greater the momentary and residual wealth. This formula expands upon Buckminster Fuller’s view of wealth which he described as the “organized capability to cope effectively with the environment in sustaining our health regeneration and decreasing both the physical and metaphysical restrictions of the forward days of our lives.” By liberating this definition from its linearity, one can see a Common Wealth can emerge, be character‐ ized, and in application, be the basis for a More Perfect Union.
The opening slide for David Martin’s Keynote Presentation Pictured Above (from left to right): Tibor Vamos of the Hungarian at the Waterford Institute (June 12, 2012) Academy of the Sciences, Larry Stapelton of WIT, and David Martin.
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SECOND QUARTER 2012 9
FEATURED COMMUNITY MEMBER OF THE QUARTER Name: Stuart Holman Age: 26 Hometown: Monroe, Virginia Education: Computer Information Systems from Bridgewater College Length at M•CAM: 4 years in June What occupies your spare time? (Hobbies/activities): My wife and 2 dogs, long walks, family and friends, house chores.
GET IN TOUCH WITH US!
Three random facts about yourself: 1.) I enjoy getting up at 6 am and getting my day started 2.) I love Hats, Stickers, Tattoos, Photography, Street Wear and Sneakers 3.) I enjoy riding elevators (glass ones) Favorite thing about your engagement at M•CAM: My engagement has been nothing but positive. I have al‐ ways felt apart of the team and loved like it’s a huge family. The push to succeed is present and a great feeling to have in the work place. Motivation/inspiration is everywhere, you just have to open your eyes to see it.
M•CAM, Inc 210 Ridge McIntire Rd, Suite 300 Charlottesville, VA 22903 Phone: 434‐979‐7240 Fax: 434‐979‐7528 http://www.m‐cam.com http://www.heritableinnovationtrust.org http://www.globalinnovationcommons.org http://invertedalchemy.com Like us on Facebook + Follow us on Twitter