The above article sums up LinkedIn’s aspirations. With their ability to create an economic graph, they will be able to, as Jeff Wiener says “ We want to step back and allow capital, all forms of capital, intellectual capital, working capital, and human capital to flow, to where it can best be leveraged and in doing so, help lift and transform the global economy.“
Linkedin, at this point, is the one global company which knows most about the geographic demand/supply patterns for job-related skills. With Lynda’s acquisition – they will be able to provide targeted skill development across regions where demand, and supply are not balanced.
Let’s take an example here. Let’s assume that in New York, there is a huge demand for computer graphic designers. Very few people searching for a job either on LinkedIn or from one of their partners in New York have those skills. This means that there is a surplus of jobs needing computer graphics skills, while very few people have those. In the current economy- these jobs would probably be transferred out of New York (probably permanently).
LinkedIn, now with Lynda can refer people to certain specific courses and job training for a fee. Job seekers can then subscribe to these courses for a fee (an important revenue stream for LinkedIn). Upon completion of these courses, these new skills can now get advertised to recruiters (or firms). LinkedIn + Lynda will now form the new hotbed for recruiters to search for people having trained in certain technologies and accredited too. Combine this with the ability to predict job skill requirements from existing data .. There is a killer combination. LinkedIn can potentially detect job skill requirements – ahead of time and facilitate training of job seekers in those skills by the time these jobs actually become available. This cycle would retain jobs and skills in geographic regions.
It will be interesting to watch how Lynda, in addition to (or in competition with ) Coursera, Mit-X and other e-learning platforms figure in LinkedIn’s large vision of the Economic Graph. It will be interesting to note how a large software platform which offers a multitude of services can influence all kinds of capital (intellectual, working, human, social) flows in a globally connected economy.