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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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The Smartest Places on Earth summary
Antoine van Agtmael
Fred Bakker
Why Rustbelts Are the Emerging Hotspots of Global Innovation
16 mins
Brief summary
"The Smartest Places on Earth" by Antoine van Agtmael and Fred Bakker explores the concept of "brainbelts" - places where industries, innovation, and talent converge to create economic growth. The authors examine different examples and offer insights into how cities can become smarter and more prosperous.
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The Smartest Places on Earth
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Key idea 1 of 6
Former industrial sites are emerging as hubs of innovation to compete with emerging markets.
Have you heard the term rustbelts? It refers to formerly industrial areas in the United States and Europe, places that have largely declined in affluence because of the offshoring of manufacturing to cheaper production sites in countries such as China, Bangladesh, Mexico and Turkey.
But that’s all starting to change. Some of these rustbelt regions are transforming into brainbelts; regions that have been revitalized through the formation of hubs that unite knowledgeable workers with smart manufacturing. Just take the new production facility created by General Electric, an iconic company that produces aircraft engines and household appliances, among other products.
Rather than offshoring their production to Asia, GE set up shop in Batesville, Mississippi because of its close proximity to Mississippi State University. In this new location, researchers work with cutting-edge materials to revolutionize the production of aircraft engines.
GE had already been working with the university and, because of the great results the collaboration was producing, decided to become its neighbor. The choice has proven to be a boon to GE, as the work between the two institutions brings together innovation and smart manufacturing.
However, just because some companies succeed with this model doesn’t mean that emerging markets in the East are no longer a threat; rather, these markets are just facing stiffer competition. For instance, many Western industrial powerhouses have had to close their doors, overwhelmed by the low-cost production model – built largely on cheap labor – employed in East Asian countries.
That being said, the rise of brainbelts is causing concern for some Asian companies. Just consider the Taiwan-based Mediatek; for years, they’ve been a powerful force in the global marketplace, designing chipsets for smartphones and other such electronics.
Despite this success, the company’s CFO, David Ku, has expressed grave concerns about the increasingly competitive nature of US firms. He pointed to the San Diego-based company Qualcomm as an example, saying that they’re way ahead of the game in terms of research and development.
So, you now know why brainbelts are important. Next, you’ll learn how exactly they come about.
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What is The Smartest Places on Earth about?
The Smartest Places on Earth (2016) tells the story of former industrial powerhouse regions around the world that fell into decline but have since reemerged as centers of innovative collaborations. These blinks describe how countries in the West are using this model to challenge the cheap labor-oriented mass production model that has come to prominence elsewhere.
The Smartest Places on Earth Review
The Smartest Places on Earth (2016) explores how former industrial centers are transforming themselves into innovative hubs of technology and entrepreneurship. Here's why you should give this book a read:
- It uncovers the success stories of cities like Eindhoven and Leipzig, showing how they are reinventing themselves and becoming leaders in the global knowledge economy.
- With real-world examples and in-depth research, it provides a fascinating insight into the factors that contribute to a city's transformation and economic growth.
- The book offers a compelling vision of hope and economic revival, demonstrating that with the right strategies and investments, any city can thrive in the new global economy.
Best quote from The Smartest Places on Earth
Innovation is a marathon rather than a sprint.
—Antoine van Agtmael and Fred Bakker
Who should read The Smartest Places on Earth?
- Entrepreneurs everywhere
- Business owners
- Tech and innovation junkies
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The Smartest Places on Earth FAQs
What is the main message of The Smartest Places on Earth?
The main message of The Smartest Places on Earth is that economic growth and innovation can happen anywhere, not just in major cities.
How long does it take to read The Smartest Places on Earth?
The reading time for The Smartest Places on Earth varies, but it typically takes several hours. The Blinkist summary can be read in just 15 minutes.
Is The Smartest Places on Earth a good book? Is it worth reading?
The Smartest Places on Earth is worth reading because it showcases inspiring stories of innovation and offers insights into how regions can thrive in the global economy.
Who is the author of The Smartest Places on Earth?
The authors of The Smartest Places on Earth are Antoine van Agtmael and Fred Bakker.
What to read after The Smartest Places on Earth?
If you're wondering what to read next after The Smartest Places on Earth, here are some recommendations we suggest:
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