elaine.ann@kaizor.com | Kaizor Innovation
It’s a common perception that if you want to make money, you shouldn’t become a designer. Instead, head toward investment banking, where annual bonuses are in the millions, certainly more than any designer—or doctor—will make in a lifetime.
However, since late 2008 we’ve seen this world order turn upside down, with major banks collapsing, giant corporations desperately seeking government bailout, and investment bankers by the tens of thousands losing their lucrative jobs. It seems those once high-flying financial careers have almost vanished overnight. For the
past six months, we’ve listened to political leaders around the world argue the need to overhaul their respective financial infrastructures. In such a paradigm-shifting environment, what is the changing role of design?
It would seem almost a bit pointless to talk about user product experiences in the midst of this world financial crisis, with legions of people concerned about jobs and livelihoods. Who cares about usability when no one wants to spend a dime?
So, let’s talk about design on a macro level.
At the time of this writing, the financial crisis had already evap-
orated a total of US$13 trillion in housing and stock market losses; an amount almost equivalent to the nation’s GDP of $13.8 trillion. In other words, whatever revenue the U.S. reaped in the past year was flushed away—a true “weapon of mass destruction.” And the story is not yet over.
Surely you’ve wondered just how we wound up in this state of affairs. Why did leading financial institutions like Lehman Brothers, Bear Stearns, and Washington Mutual collapse? Why are major players like GM, Ford, Chrysler, Fannie Mae, AIG, and Freddie Mac facing bankruptcy and in need of
References:
Archives