Immateriality is a distinctive trait of today’s society, and many are the consequences it has on production and work. An analysis of such consequences is carried out. Essential competences are increasingly immaterial; such competences have to be constantly adapted to changes in production and society; they have to be enriched by immateriality that grows outside companies; value arises from giving significant immateriality to material products. That means it is immateriality what creates value: the value of material products is in their immaterial aspects. Problems and ambivalences are then discussed, such as the process of knowledge privatisation and the importance of individuality, subjectivity, and creativity.