video title: Eric Chun on Indie
video link:
video source: IndieTImes
published on YouTube August 1, 2012

more info: IndieTimes
duration :30 minutes

Exploring the Indie Revolution: Eric Chun "Video of the Day" review by Alex Cosper on August 1, 2012

The independent business revolution that's going on in America isn't just an underground rumor or a sci-fi fantasy. More and more people are leaving the corporate world to start their own business. Part of the reason is necessity, another part is future planning, another part is adventure. Combine these elements and you have an emerging new direction for people tired of the restrictions on creativity and personal goals that come with the declining corporate world. Make no mistake, big biz is shrinking.

Part of the reason people are sick of the corporate world is almost on a daily basis we hear about some kind of corporate fraud that disrupts the middle class, usually involving big banks. The Libor scandal is one of the recent developments in the news that confirm big banks have manipulated the system by fraudulently playing with interest rates that affect people all over the world, from student loans to credit cards to mortgages.

A recent survey published by the New York Times on people's perception of big business found that only one in five Americans trusts big banks, which is a big decline from two decades ago. We've also learned that the stock market, the heart of big biz, is rigged by out of control computers trading with computers, which creates artificial volume and fake stock prices. Perhaps the most striking lesson about the stock market this past year is don't bet on IPOs, especially if it's Facebook, which was hyped as the biggest IPO of all time by wall street analysts, who over-speculated on the tech company's valuation. Since its market debut in May, the value of Facebook shares has fallen in half.

Wells Fargo recently agreed to settle a huge discrimination lawsuit while Bank of America, a melted down institution compared to its giant image five years ago, is busy trying to settle complaints involving mortgage issues. Goldman Sachs, a midget of its former self, is in the same boat. Meanwhile, JP Morgan Chase, the nation's largest investment bank, is under investigation for losing $2 billion in one day in a crazy bet on derivatives that fell apart in May, after the company projected a rosey image in the press a month earlier. Morgan also now faces an investigation involving one of its subisidiaries being accused of manipulating California energy prices Enron-style.

Against this corporate shenanigans backdrop is an alternative: the indie revolution. In this Indie Times video interview Eric Chun gives his definition of what indie means, explaining that it encompasses a spirit of both individuality and coming together to form a stronger platform for indie participants.

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