Travis Kalanick

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pages: 444 words: 127,259

Super Pumped: The Battle for Uber by Mike Isaac

"side hustle", activist fund / activist shareholder / activist investor, Airbnb, Albert Einstein, always be closing, Amazon Web Services, Andy Kessler, autonomous vehicles, Ayatollah Khomeini, barriers to entry, Bay Area Rapid Transit, Burning Man, call centre, Chris Urmson, Chuck Templeton: OpenTable:, citizen journalism, Clayton Christensen, cloud computing, corporate governance, creative destruction, don't be evil, Donald Trump, Elon Musk, family office, gig economy, Google Glasses, Google X / Alphabet X, high net worth, Jeff Bezos, John Markoff, Kickstarter, Lyft, Marc Andreessen, Mark Zuckerberg, mass immigration, Menlo Park, Mitch Kapor, money market fund, moral hazard, move fast and break things, move fast and break things, Network effects, new economy, off grid, peer-to-peer, pets.com, Richard Florida, ride hailing / ride sharing, Sand Hill Road, self-driving car, shareholder value, side project, Silicon Valley, Silicon Valley startup, skunkworks, Snapchat, software as a service, software is eating the world, South China Sea, South of Market, San Francisco, sovereign wealth fund, special economic zone, Steve Jobs, TaskRabbit, the payments system, Tim Cook: Apple, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, ubercab, union organizing, upwardly mobile, Y Combinator

Chapter 5: UPWARDLY IMMOBILE 44 Casino Royale, the 2006 reboot: Brad Stone, “Uber: The App That Changed How the World Hails a Taxi,” Guardian, January 29, 2017, https://www.theguardian.com/technology/2017/jan/29/uber-app-changed-how-world-hails-a-taxi-brad-stone. 44 flourish on Bond’s cell phone: Stone, Upstarts. 46 his personal blog: Travis Kalanick, “Expensify Launching at TC50!!,” Swooshing (blog), September 17, 2008, https://swooshing.wordpress.com/2008/09/17/expensify-launching-at-tc50/. 46 a roomful of young engineers: TechCo Media, “Travis Kalanick, Founder & CEO of Uber.” 47 “VC’s are trying to axe the founder”: TechCo Media, “Travis Kalanick Startup Lessons.” 48 “musings and often controversial aphorisms”: https://twitter.com/konatbone. 49 “respectable clientele”: Garrett Camp, “The Beginning of Uber,” Medium, August 22, 2017, https://medium.com/@gc/the-beginning-of-uber-7fb17e544851. Chapter 6: “LET BUILDERS BUILD” 54 “Looking 4 entrepreneurial product”: Travis Kalanick (@travisk), “Looking 4 entrepreneurial product mgr/biz-dev killer 4 a location based service.. pre-launch, BIG equity, big peeps involved—ANY TIPS??

Chapter 2: THE MAKING OF A FOUNDER 16 a former co-worker, said: Elizabeth Chou, “Bonnie Kalanick, Mother of Uber Founder, Remembered Fondly by Former Daily News Coworkers,” Los Angeles Daily News, August 28, 2017, https://www.dailynews.com/2017/05/28/bonnie-kalanick-mother-of-uber-founder-remembered-fondly-by-former-daily-news-coworkers/. 17 an inherent competitive spirit: Chou, “Bonnie Kalanick.” 17 Travis later said: Travis Kalanick, “Dad is getting much better in last 48 hours,” Facebook, June 1, 2017, https://www.facebook.com/permalink.php?story_fbid=10155147475255944&id=564055943. 17 in an interview in 2014: Kara Swisher, “Bonnie Kalanick, the Mother of Uber’s CEO, Has Died in a Boating Accident,” Recode, May 27, 2017, https://www.recode.net/2017/5/27/15705290/bonnie-kalanick-mother-uber-ceo-dies-boating-accident. 18 positive relationship with his ex-wife: Taylor Pittman, “Uber CEO Travis Kalanick and His Dad Open Up on Life, Love and Dropping Out of School,” Huffington Post, April 11, 2016, https://www.huffingtonpost.com/entry/uber-travis-kalanick-talk-to-me_us_57040082e4b0daf53af126a9. 18 built an electrical transformer: Swisher, “Bonnie Kalanick.” 18 Donald later told a reporter: Pittman, “Uber CEO Travis Kalanick.” 19 Travis was a top seller: Adam Lashinsky, Wild Ride: Inside Uber’s Quest for World Domination (New York: Portfolio/Penguin, 2017), 40. 19 His prize: An enormous trophy: Jesse Barkin, “Valley Conference Basketball Honors Top Students,” Los Angeles Daily News, March 30, 1988, Z10. 20 $20,000 in knives: Chris Raymond, “Travis Kalanick: ‘You Can Either Do What They Say or You Can Fight for What You Believe,’ ” Success, February 13, 2017, https://www.success.com/article/travis-kalanick-you-can-either-do-what-they-say-or-you-can-fight-for-what-you-believe. 20 his commissions growing larger: Sarah E.

story_fbid=10155147475255944&id=564055943. 17 in an interview in 2014: Kara Swisher, “Bonnie Kalanick, the Mother of Uber’s CEO, Has Died in a Boating Accident,” Recode, May 27, 2017, https://www.recode.net/2017/5/27/15705290/bonnie-kalanick-mother-uber-ceo-dies-boating-accident. 18 positive relationship with his ex-wife: Taylor Pittman, “Uber CEO Travis Kalanick and His Dad Open Up on Life, Love and Dropping Out of School,” Huffington Post, April 11, 2016, https://www.huffingtonpost.com/entry/uber-travis-kalanick-talk-to-me_us_57040082e4b0daf53af126a9. 18 built an electrical transformer: Swisher, “Bonnie Kalanick.” 18 Donald later told a reporter: Pittman, “Uber CEO Travis Kalanick.” 19 Travis was a top seller: Adam Lashinsky, Wild Ride: Inside Uber’s Quest for World Domination (New York: Portfolio/Penguin, 2017), 40. 19 His prize: An enormous trophy: Jesse Barkin, “Valley Conference Basketball Honors Top Students,” Los Angeles Daily News, March 30, 1988, Z10. 20 $20,000 in knives: Chris Raymond, “Travis Kalanick: ‘You Can Either Do What They Say or You Can Fight for What You Believe,’ ” Success, February 13, 2017, https://www.success.com/article/travis-kalanick-you-can-either-do-what-they-say-or-you-can-fight-for-what-you-believe. 20 his commissions growing larger: Sarah E. Needleman, “A Cutco Sales Rep’s Story,” Wall Street Journal, August 6, 2008, https://www.wsj.com/articles/SB121788532632911239. 20 recalled Sean Stanton: Interview with author, 2017. 21 it occurred to some of them: TechCo Media, “Travis Kalanick Startup Lessons from the Jam Pad—Tech Cocktail Startup Mixology,” YouTube video, 38:34, May 5, 2011, https://www.youtube.com/watch?


pages: 246 words: 68,392

Gigged: The End of the Job and the Future of Work by Sarah Kessler

Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, basic income, bitcoin, blockchain, business cycle, call centre, cognitive dissonance, collective bargaining, crowdsourcing, David Attenborough, Donald Trump, East Village, Elon Musk, financial independence, future of work, game design, gig economy, income inequality, information asymmetry, Jeff Bezos, job automation, law of one price, Lyft, Mark Zuckerberg, market clearing, minimum wage unemployment, new economy, payday loans, post-work, profit maximization, QR code, race to the bottom, ride hailing / ride sharing, Second Machine Age, self-driving car, shareholder value, sharing economy, Silicon Valley, Snapchat, TaskRabbit, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, union organizing, universal basic income, working-age population, Works Progress Administration, Y Combinator

Plays with Fire. New York Times. April 23, 2017. https://www.nytimes.com/2017/04/23/technology/travis-kalanick-pushes-uber-and-himself-to-the-precipice.html?_r=0. 16   Federal Trade Commission website. Uber Agrees to Pay $20 Million to Settle FTC Charges That It Recruited Prospective Drivers with Exaggerated Earnings Claims. January 19, 2017. https://www.ftc.gov/news-events/press-releases/2017/01/uber-agrees-pay-20-million-settle-ftc-charges-it-recruited. 17   Green, Carla, and Sam Levin. Homeless, Assaulted, Broke: Drivers Left behind as Uber Promises Change at the Top. The Guardian. June 17, 2017. https://www.theguardian.com/us-news/2017/jun/17/uber-drivers-homeless-assault-travis-kalanick. 18   Manyika, James, Susan Lund, Jacques Bughin, Kelsey Robinson, Jan Mischke, and Deepa Mahajan.

March 29, 2017. https://qz.com/943899/a-timeline-of-when-self-driving-cars-will-be-on-the-road-according-to-the-people-making-them/. 4   McKinsey Global Institute. What the Future of Work Will Mean for Jobs, Skills, and Wages. November 2017. https://www.mckinsey.com/global-themes/future-of-organizations-and-work/what-the-future-of-work-will-mean-for-jobs-skills-and-wages. 5   Lynley, Matthew. Travis Kalanick Says Uber Has 40 Million Monthly Users. TechCrunch. October 19, 2016. https://techcrunch.com/2016/10/19/travis-kalanick-says-uber-has-40-million-monthly-active-riders/. 6   Quoted in Dray, Philip. There Is Power in a Union. Anchor Books, 2010, page 248. Index The index that appeared in the print version of this title does not match the pages in your eBook. Please use the search function on your eReading device to search for terms of interest.

BLACKJET, THE UBER OF PRIVATE JETS, RELEASES ITS IPHONE APP SO I FLEW IN AN “UBER FOR TINY PLANES” MEET STAT, THE STARTUP THAT WANTS TO BE UBER FOR MEDICAL TRANSPORT Startups made Uber for food. Uber for alcohol. Uber for cleaning. Uber for courier services. Uber for massages. Uber for grocery shopping. Uber for car washes. Even Uber for weed. Uber itself hinted that it would take its business model far beyond transportation: “Uber is a cross between lifestyle and logistics,” Uber CEO Travis Kalanick told Bloomberg. “Lifestyle is gimme what I want and give it to me right now and logistics is physically delivering it to the person that wants it … once you’re delivering cars in five minutes, there’s a lot of things you can deliver in 5 minutes.”11 The presumption was that because Uber’s business model worked for calling cars, it could work for any other service, too. By the end of 2013, 13 startups that described themselves as “Uber for” something had raised venture capital, according to TechCrunch’s funding database.


pages: 265 words: 69,310

What's Yours Is Mine: Against the Sharing Economy by Tom Slee

4chan, Airbnb, Amazon Mechanical Turk, asset-backed security, barriers to entry, Berlin Wall, big-box store, bitcoin, blockchain, citizen journalism, collaborative consumption, congestion charging, Credit Default Swap, crowdsourcing, data acquisition, David Brooks, don't be evil, gig economy, Hacker Ethic, income inequality, informal economy, invisible hand, Jacob Appelbaum, Jane Jacobs, Jeff Bezos, Khan Academy, Kibera, Kickstarter, license plate recognition, Lyft, Marc Andreessen, Mark Zuckerberg, move fast and break things, move fast and break things, natural language processing, Netflix Prize, Network effects, new economy, Occupy movement, openstreetmap, Paul Graham, peer-to-peer, peer-to-peer lending, Peter Thiel, pre–internet, principal–agent problem, profit motive, race to the bottom, Ray Kurzweil, recommendation engine, rent control, ride hailing / ride sharing, sharing economy, Silicon Valley, Snapchat, software is eating the world, South of Market, San Francisco, TaskRabbit, The Nature of the Firm, Thomas L Friedman, transportation-network company, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, ultimatum game, urban planning, WikiLeaks, winner-take-all economy, Y Combinator, Zipcar

Streetfight: Inside the Business of Hyperlocal, September 16, 2014. http://streetfightmag.com/2014/09/16/handybook-rebrands-as-handy-says-it-grew-ten-times-in-past-nine-months/. Johnson, Steven. Future Perfect: The Case for Progress in a Networked Age. Riverhead, 2012. Jordan, Jeff. “Unpacking the Grocery Stack,” n.d. http://jeff.a16z.com/2014/06/16/unpacking-the-grocery-stack/. Kalanick, Travis. “A Leader for the Uber Campaign.” Uber, August 19, 2014. http://blog.uber.com/davidplouffe. ———. “Uber Policy White Paper 1.0.” Uber, April 12, 2013. http://blog.uber .com/2013/04/12/uber-policy-white-paper-1-0/. Kalanick, Travis, and Kara Swisher. Uber CEO: We’re in a Political Battle with an “Assh*le,” May 28, 2014. http://mashable.com/2014/05/28/travis-kalanick-co-founder-and-ceo-of-uber/. Kane, Kat. “The Big Hidden Problem With Uber? Insincere 5-Star Ratings.” WIRED, March 19, 2015. http://www.wired.com/2015/03/bogus-uber-reviews/. Kassam, Ashifa. “Barcelona’s Tourist Hordes Are Target for Radical New Mayor Ada Colau.”

Airbnb is the ­poster-child for sharing: in its public statements and in its marketing it actively promotes a bucolic “shared city” where “local mom and pops flourish once again . . . that fosters community, where space isn’t wasted, but shared with others.” Uber, as its name suggests, is not interested in anything so soft and fuzzy as community: it projects an aspirational image of status (“Everyone’s private driver”) and its confrontational CEO Travis Kalanick is well known to be a fan of Ayn Rand and her ideology of rugged individualism. Both companies have run into controversy in many of the cities where they operate, running afoul of city regulations and laws, and both have taken the approach of pushing for growth, aiming to present a fait accompli to slow moving and often understaffed city governments. Both believe that their innovations make existing rules obsolete and that their technology can solve the problems that city regulations were meant to solve, but better and with a lighter touch.

It remains to be seen whether BlaBlaCar can keep to its current model when pressure for returns from its investors increases. UBER Lyft may have started out with a message of community and sharing, but its bigger and more successful competitor Uber had no such pretensions. As the name suggests, Uber was about status right from the start. Its slogan was “Everyone’s private driver”; founder and CEO Travis Kalanick said in a 2013 interview, “We just wanted to push a button and get a ride. And we wanted to get a classy ride . . . That’s all it was about.” 16 Uber was never a partner of Peers, and although Uber was founded in 2009 it did not refer to itself as part of the Sharing Economy until 2013. Some Sharing Economy proponents don’t accept Uber as part of their movement,17 but for many people Uber now is the Sharing Economy.


pages: 289

Hustle and Gig: Struggling and Surviving in the Sharing Economy by Alexandrea J. Ravenelle

"side hustle", active transport: walking or cycling, Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, barriers to entry, basic income, Broken windows theory, call centre, Capital in the Twenty-First Century by Thomas Piketty, cashless society, Clayton Christensen, clean water, collaborative consumption, collective bargaining, creative destruction, crowdsourcing, disruptive innovation, Downton Abbey, East Village, Erik Brynjolfsson, full employment, future of work, gig economy, Howard Zinn, income inequality, informal economy, job automation, low skilled workers, Lyft, minimum wage unemployment, Mitch Kapor, Network effects, new economy, New Urbanism, obamacare, Panopticon Jeremy Bentham, passive income, peer-to-peer, peer-to-peer model, performance metric, precariat, rent control, ride hailing / ride sharing, Ronald Reagan, sharing economy, Silicon Valley, strikebreaker, TaskRabbit, telemarketer, the payments system, Tim Cook: Apple, transaction costs, Travis Kalanick, Triangle Shirtwaist Factory, Uber and Lyft, Uber for X, uber lyft, ubercab, universal basic income, Upton Sinclair, urban planning, very high income, white flight, working poor, Zipcar

Washington and Lee Law Review 68(311). Kahn, Bonnie Menes. 1987. Cosmopolitan Culture: The Gilt-Edged Dream of a Tolerant City. New York: Atheneum. Kahn, Lisa B. 2010. “The Long-Term Labor Market Consequences of Graduating from College in a Bad Economy.” Labour Economics 17(2):303–16. Kalamar, Anthony. 2013. “Sharewashing Is the New Greenwashing.” OpEdNews.com, May 13. Kalanick, Travis. 2016. “Uber CEO Travis Kalanick’s Gridlock Solution? Carpools for All.” Wall Street Journal, June 6. Kalleberg, Arne L. 2009. “Precarious Work, Insecure Workers: Employment Relations in Transition.” American Sociological Review 74(1):1–22. ———. 2011. Good Jobs, Bad Jobs: The Rise of Polarized and Precarious Employment Systems in the United States. New York: Russell Sage Foundation. Kane, Kat. 2015. “The Big Hidden Problem with Uber?

Illustrative of the high cost of living in New York City, twelve of the participants listed their household income as $100,000 or more, and seven described their income as between $25,000 and $49,999. Two respondents identified their income category as $75,000–99,999, with the remaining two respondents reporting an income of less than $25,000 a year. Uber The Uber creation story has several versions. According to the Uber website, “on a snowy Paris evening in 2008, Travis Kalanick and Garrett Camp had trouble hailing a cab. So they came up with a simple idea—tap a button, get a ride.”75 True to its high-end roots, the first iteration—UberCab—was a black car service that allowed a user to call a car by pressing a button on a smartphone or sending a text. The price hovered around 1.5 times as much as a typical San Francisco cab.76 The service ran into regulatory issues almost from the start.

After an October 2010 cease-and-desist letter from the San Francisco Metro Transit Authority and the Public Utilities Commission of California claiming they were operating an unlicensed taxi service, UberCab removed the word cab from its logo and started to operate under the brand name Uber. On its Facebook page, the company commented that it was “more uber than cab.”77 When Uber began in New York, it also billed itself as an app-driven dispatch service catering to people who were willing to pay more. Early articles describing Uber’s entry into New York included one by CEO Travis Kalanick explaining that Uber’s cost was about 1.75 times as much as a taxi, and that the appeal would lie primarily in the app’s “efficiency and [the] elegance of the experience.”78 In 2012, Uber announced a cheaper version—only 10 to 25 percent more than a cab—that used hybrid cars.79 Later that year, Uber announced a taxi partnership that allowed cabs to use its smartphone app to find potential customers.


pages: 256 words: 79,075

Hired: Six Months Undercover in Low-Wage Britain by James Bloodworth

Airbnb, Berlin Wall, call centre, clockwatching, collective bargaining, congestion charging, credit crunch, deindustrialization, Fall of the Berlin Wall, gig economy, Jeff Bezos, low skilled workers, Network effects, new economy, North Sea oil, Panopticon Jeremy Bentham, payday loans, post-work, profit motive, race to the bottom, reshoring, Silicon Valley, Travis Kalanick, Uber for X, working poor, working-age population

.: The Principles of Scientific Management 17 Tesco 35, 57, 58–9, 62–3 Thatcher, Margaret 122, 123, 146, 174–5, 193, 207, 263–4 Thorn Automation 57 Thorn EMI 59 trade unions: Amazon and 36 B&M and 130, 131 call centres and 160, 181, 184–5, 186 care sector and 88 coal industry decline and 55–6, 173, 174, 263–4 decline of 2, 3, 35 ‘gig’ economy and 230, 257, 261 objectivism and 228 oil crisis (1973) and 122 Thatcher and 123, 174, 193, 263–4 Wales and 144, 149 see also under individual union name Trades Union Congress (TUC) 173 transgender people 40–1 Transline Group 19, 20, 37, 38, 39, 40, 41, 43, 65–6, 86 Transport for London (TFL) 211, 212–13, 214, 233, 254, 256 Tredegar Workmen’s Medical Aid Society 247 Trefil, Wales 149 Trump, Donald 7 Uber 207, 211–57 ‘account status’ 221 clocking in at 218 corporation tax and 229 customers 221, 222, 226–7, 237–41, 244, 257 driver costs/expenses 214, 217, 233, 241, 246, 253–5 driver employment classification/contract 214–15, 222, 229–35, 243, 245, 250–2, 257 driver hours 221, 226, 230, 232, 233, 236, 246, 253, 255 driver numbers 211–13, 233–5 driver wages/pay 212, 218, 221, 229–30, 235, 236, 237, 240, 241, 244, 246, 252–5 employment tribunal against (2016) 229–34 flexibility of working for 213–14, 218, 230–3, 248, 250–1 James Farrar and see Farrar, James migrant labour and 213, 236 ‘Onboarding’ class 224–5, 238, 241, 256 opposition to 215–17 philosophy of 228–9, 235, 236 psychological inducements for drivers 222–3 rating system 225–7, 232, 238, 239, 243, 253 rejecting/accepting jobs 221–2, 224–5 ride process 219–21 surge pricing 237, 238, 253 TFL and 211, 212–13, 214, 233, 254, 256 Travis Kalanick and see Kalanick, Travis UberEATS 256 UberPOOL 225, 240–2, 253, 255–6 UberX 212, 225, 240, 241, 255 VAT and 229 vehicle requirements 214 unemployment 2, 32, 36, 62, 121–3, 132, 138, 148, 157, 172, 178, 179, 189–95, 199, 218 Unison 88, 108 Unite 55, 160 United Private Hire Drivers 230, 257 university education 3, 6, 61, 62, 123, 150–1, 152, 153–4 USDAW 130–1 Vettesse, Tony 138 Vicky (care sector supervisor) 86, 87 Wade, Alan 121, 123–4 wages: Amazon 18, 19, 37–9, 42–3, 65–6, 68, 69, 70, 159 call centre 155–6, 158–60, 164, 180 care sector 107–8, 117, 118–19, 159 living wage 1, 85, 160, 246 minimum wage 1, 7, 55, 62, 84, 107, 108, 118, 135, 155, 159, 173, 189–90, 209, 212, 235, 236, 245, 250, 262 Uber 212, 218, 221, 229–30, 235, 236, 237, 240, 241, 244, 246, 252–5 wage stagnation 2 see also under individual employer, job and sector name Wealth and Assets Survey 207–8 wealth inequality 18, 73, 123, 125, 207–8, 238 Wells, H.

We, as partners, are simply using a ‘tool to connect Customers seeking Driving Services to Drivers who can provide the Driving Service’,13 as Uber liked to put it. Uber was a tech company that happened to hold a cab operator’s licence. And in some respects it would be a mistake not to admire the initiative and sheer bloody-mindedness that transformed Uber from something that began life, in former CEO and founder Travis Kalanick’s words, as ‘a black cab service for 100 friends in San Francisco’ into ‘a transportation network spanning 400 cities in 68 countries’. The extent to which disrupters like Uber were upending London’s private hire market is plain to see out on the streets. Sat waiting patiently at a set of red traffic lights, as one of Uber’s fleet of drivers you sometimes got the sensation that you were being watched.

‘If you do not accept trips, and if you constantly let the timer expire, we will put your account on hold for two minutes,’ the instructor warned the assembled crew of budding drivers. ‘And then if you continue to do that the time gets longer and longer and longer.’ All in all, it was a peculiar sort of freedom. * This could easily have been circumvented by simply logging drivers off but allowing them to log back in again as soon as they were ready. 19 I found out during my first week on the road that the favourite book of Uber’s former CEO and co-founder Travis Kalanick is The Fountainhead, by Ayn Rand. For those unfamiliar with her work, Rand was a Russian–American novelist and philosopher whose system of thought – known as ‘objectivism’ – found expression in her two best-selling novels (the other being Atlas Shrugged). Objectivism stood opposed to all forms of collectivism – the welfare state, trade unions, public hospitals. Like communism, Rand’s philosophy embodied a simplistic and ‘total’ view of the world that was perennially attractive to those whose main motivation was primarily to stop thinking.


pages: 394 words: 57,287

Unleashed by Anne Morriss, Frances Frei

"side hustle", Airbnb, Donald Trump, future of work, gig economy, glass ceiling, Grace Hopper, Jeff Bezos, Netflix Prize, Network effects, performance metric, race to the bottom, ride hailing / ride sharing, Silicon Valley, Steve Jobs, TaskRabbit, Tony Hsieh, Toyota Production System, Travis Kalanick, Uber for X, women in the workforce

Asma Khalid, “Uber Taps Harvard Business School’s Frances Frei to Turn Company in Right Direction,” WBUR, December 21, 2017, https://www.wbur.org/bostonomix/2017/12/21/uber-hires-frances-frei. 22. Mike Isaac, “How Uber Deceives the Authorities Worldwide,” Technology, New York Times, March 3, 2017, https://www.nytimes.com/2017/03/03/technology/uber-greyball-program-evade-authorities. 23. Kara Swisher, “Uber CEO Travis Kalanick Says the Company Has Hired Former Attorney General Eric Holder to Probe Allegations of Sexism,” Vox, February 20, 2017, https://www.vox.com/2017/2/20/14677546/uber-ceo-travis-kalanick-eric-holder-memo. 24. Special Committee of the Board, “Covington Recommendations” (Google Doc, 2017), https://drive.google.com/file/d/0B1s08BdVqCgrUVM4UHBpTGROLXM/view. 25. Sasha Lekach, “Uber Drivers Really Wanted In-app Tipping for a Reason: $600 Million Made in First Year,” Tech, Mashable, June 21, 2018, https://mashable.com/article/uber-tipping-600-million-first-year/. 26.

We give you a framework for understanding the escalating noise around the topic of diversity and use our experience with large-scale, transformational inclusion initiatives to show how effective leadership can create the conditions for more and varied people to thrive—and for organizations to benefit wildly from it. In effect, this section is about mastering the inner rings of our empowerment leadership model: trust, love, and belonging. Again, when you get it right, your presence as a leader has progressively positive impact, starting with yourself and then expanding to more and more people. Let’s begin. 2 TRUST On a Friday afternoon in the spring of 2017, Travis Kalanick, then CEO of Uber, walked into a conference room at the company’s minimalist Bay Area headquarters. A wildly talented deputy, Meghan Joyce, general manager for the United States and Canada, had orchestrated the meeting. Joyce was convinced that we could be helpful, but that was not our starting point. From everything we’d read about the iconic, ride-hailing startup, it looked like a company with little hope of redemption.a First, some context: Uber had disrupted at least one industry, but its astonishing success seemed to come at the price of basic decency.

In other words, the most senior executives at Netflix were often intentionally absent, leading from the sidelines, where their most valuable, freedom-loving employees preferred them to be. It’s a model that reveals another foundational truth about leadership: some of your best people don’t always want you in the room. Culture gives you the confidence to exit. Do you have a culture problem? By June of 2017, the mandate to change the culture at Uber could not have been stronger. This was not lost on then-CEO Travis Kalanick. As reported by Mike Isaac in Super Pumped: The Battle for Uber, while Kalanick was on leave, he drafted an email to the company that he never ended up sending.a The email was humbled and reflective, mirroring the version of Kalanick we had gotten to know earlier that spring. He opened with a sober take on Uber’s culture challenges: “Over the last seven years, our company has grown a lot—but it hasn’t grown up.”7 Kalanick took responsibility for the company’s cultural missteps, including its emphasis on growth at all costs and its transactional approach to stakeholder relationships.


pages: 343 words: 91,080

Uberland: How Algorithms Are Rewriting the Rules of Work by Alex Rosenblat

"side hustle", Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, autonomous vehicles, barriers to entry, basic income, big-box store, call centre, cashless society, Cass Sunstein, choice architecture, collaborative economy, collective bargaining, creative destruction, crowdsourcing, disruptive innovation, don't be evil, Donald Trump, en.wikipedia.org, future of work, gender pay gap, gig economy, Google Chrome, income inequality, information asymmetry, Jaron Lanier, job automation, job satisfaction, Lyft, marginal employment, Mark Zuckerberg, move fast and break things, Network effects, new economy, obamacare, performance metric, Peter Thiel, price discrimination, Ralph Waldo Emerson, regulatory arbitrage, ride hailing / ride sharing, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Skype, social software, stealth mode startup, Steve Jobs, strikebreaker, TaskRabbit, Tim Cook: Apple, transportation-network company, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, union organizing, universal basic income, urban planning, Wolfgang Streeck, Zipcar

Emmett Penny, “Lectureporn: The Vulgar Art of Liberal Narcissism,” Paste, June 26, 2017, www.pastemagazine.com/articles/2017/06/lectureporn-the-vulgar-art-of-liberal-narcissism.html. 34. Johana Bhuiyan, “A New Video Shows Uber CEO Travis Kalanick arguing with a Driver over Fares,” ReCode, February 28, 2017, www.recode.net/2017/2/28/14766964/video-uber-travis-kalanick-driver-argument. 35. Julia Carrie Wong, “Uber CEO Travis Kalanick Resigns Following Months of Chaos,” The Guardian, June 21, 2017, www.theguardian.com/technology/2017/jun/20/uber-ceo-travis-kalanick-resigns. 36. Rosenblat, “What Motivates Gig Economy Workers.” 4. THE SHADY MIDDLEMAN 1. Alex Rosenblat, “How Can Wage Theft Emerge in App-Mediated Work?” The Rideshare Guy, August 10, 2016, therideshareguy.com/how-can-wage-theft-emerge-in-app-mediated-work/. 2.

The company seems unconcerned that its practices severely limit drivers’ ability to optimize their earnings. Algorithmic management is a system that works for the company—simple, efficient, and bureaucratic. But its drivers suffer as they are forced to accept the odds that Uber has designed in its own favor. While drivers had long been aware of Uber’s ham-fisted treatment of them, a video capturing Uber CEO Travis Kalanick in an encounter with an Uber driver showcased this dynamic to a wider public in February 2017 (see figure 9).32 Figure 9. Uber CEO Travis Kalanick leaning in for a heated debate with his uberBlack driver. This is a screenshot of the video about the incident posted on YouTube in 2017. The driver’s dashcam recorded the interaction: The driver says he’s bankrupt after investing ninety-seven thousand dollars in a high-end car to drive for uberBlack, because rates have fallen and the demand for uberBlack has dropped, given the availability of cheaper Uber services.

Given the stakes, Uber went to elaborate lengths to hide its noncompliance: the ridehail company purposefully set out to evade Apple’s fraud detection protocols by manipulating what Apple’s app-review team would see when approving the Uber app. Under orders from then-CEO Travis Kalanick, Uber’s engineers duped Apple for a time by building a “geofence” around Apple’s corporate headquarters in Cupertino, California. Anyone within that geofence (e.g., Apple’s app-review team) would see a different version of Uber’s app. (It’s a bit like if a company were to send a tech reporter a new smartwatch to test and review—under the pretense that it is their normal product—but the device sent to the reporter secretly includes a faster processor not available to everyone else, so that the tech reporter will give it a better grade.) In a meeting that took place years before the event became public knowledge, Apple CEO Tim Cook summoned a nervous Travis Kalanick to his office to discuss Uber’s willful disregard for Apple’s rules.


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Humans as a Service: The Promise and Perils of Work in the Gig Economy by Jeremias Prassl

3D printing, Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, Andrei Shleifer, autonomous vehicles, barriers to entry, call centre, cashless society, Clayton Christensen, collaborative consumption, collaborative economy, collective bargaining, creative destruction, crowdsourcing, disruptive innovation, Donald Trump, Erik Brynjolfsson, full employment, future of work, George Akerlof, gig economy, global supply chain, hiring and firing, income inequality, information asymmetry, invisible hand, Jeff Bezos, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Kickstarter, low skilled workers, Lyft, Mahatma Gandhi, Mark Zuckerberg, market friction, means of production, moral hazard, Network effects, new economy, obamacare, pattern recognition, platform as a service, Productivity paradox, race to the bottom, regulatory arbitrage, remote working, ride hailing / ride sharing, Robert Gordon, Ronald Coase, Rosa Parks, Second Machine Age, secular stagnation, self-driving car, shareholder value, sharing economy, Silicon Valley, Silicon Valley ideology, Simon Singh, software as a service, Steve Jobs, TaskRabbit, The Future of Employment, The Market for Lemons, The Nature of the Firm, The Rise and Fall of American Growth, transaction costs, transportation-network company, Travis Kalanick, two tier labour market, two-sided market, Uber and Lyft, Uber for X, uber lyft, union organizing, working-age population

Again, this is a clear parallel with on-demand work today. * * * Notes 169 49. Erin Hatton, ‘The rise of the permanent temp economy’, The New York Times (26 January 2013), https://opinionator.blogs.nytimes.com/2013/01/26/the- rise-of-the-permanent-temp-economy/, archived at https://perma.cc/2D7S- B68Z. Kalanick subsequently apologized: ‘Travis Kalanick’s Uber-apology’, The Economist (3 March 2017), https://www.economist.com/news/business-and- finance/21717810-many-woes-ubers-boss-travis-kalanicks-uber-apology, archived at https://perma.cc/NMN9-UV4X 50. Duncan Bythell, The Sweated Trades: Outwork in Nineteenth-Century Britain (St Martin’s Press 1978), 168, and sources cited there. 51. James Schmiechen, Sweated Industries and Sweated Labor (Croom Helm 1984), 102–3, 189. 52. W. B. Crump, The Leeds Wollen Industry 1780–1820 (The Thoresby Society 1931), 25, as cited by Duncan Bythell, The Sweated Trades: Outwork in Nineteenth-Century Britain (St Martin’s Press 1978), 178. 53.

Jacob Hacker, The Great Risk Shift: The Assault on American Jobs, Families, Health Care, and Retirement—and How You Can Fight Back (Oxford University Press 2006). 65. Ibid. See also Daniel Hemel, ‘Pooling and unpooling in the Uber economy’ (2017) University of Chicago Legal Forum, forthcoming. 66. Jennifer Smith, ‘ “I’m ashamed”: Uber CEO Travis Kalanick issues grovelling memo to staff admitting he needs to “grow up” after video surfaces of him yell- ing at one of his own drivers’, Daily Mail (28 February 2017), http://www. dailymail.co.uk/news/article-4269350/Uber-CEO-Travis-Kalanick-lashes- driver-video.html, archived at https://perma.cc/5F8F-WWCD 67. Christine Lagarde, ‘Reinvigorating productivity growth’, IMF (3 April 2017), http://www.imf.org/en/news/articles/2017/04/03/sp040317-reinvigorating- productivity-growth, archived at https://perma.cc/84CC-9TCH 68.

The critical question facing humanity today is whether we choose to support and scale up national and local systems of sharing, or whether we allow them to be further undermined and disman- tled by those who are ideologically opposed to putting sharing at the centre of policymaking.41 * * * Rebranding Work 43 For the vast majority of platforms, however, ‘informal sharing’ or ‘peer-to- peer collaboration’ is about as alien a concept as ‘promoting social equity’ and ‘strengthening the social fabric of communities’ might be to Uber’s abrasive co-founder Travis Kalanick—for the whole point of informal com- munity assistance is that it cannot be scaled up and monetized. It can be hard to escape the jargon—and it’s even more important not to be fooled into fuzzy thinking by a communal or ‘sharing’ spirit: the gig economy means business. Writing in the New York Times, Natasha Singer expresses her problems with the industry’s twisting of language, from ‘sharing’ and ‘peer’, to the ‘people’ and ‘collaborative’ economy.


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Technically Wrong: Sexist Apps, Biased Algorithms, and Other Threats of Toxic Tech by Sara Wachter-Boettcher

Airbnb, airport security, AltaVista, big data - Walmart - Pop Tarts, Donald Trump, Ferguson, Missouri, Firefox, Grace Hopper, job automation, Kickstarter, lifelogging, Mark Zuckerberg, Menlo Park, move fast and break things, move fast and break things, natural language processing, pattern recognition, Peter Thiel, recommendation engine, ride hailing / ride sharing, self-driving car, Silicon Valley, Silicon Valley startup, Snapchat, Steve Jobs, Tim Cook: Apple, Travis Kalanick, upwardly mobile, women in the workforce, zero-sum game

Johana Bhuiyan, “For Some People Looking to Dump Uber, the #deleteUber Campaign Simply Sealed the Deal,” Recode, January 30, 2017, https://www.recode.net/2017/1/30/14445122/delete-uber-trump-protest-immigration-ban. 16. Mike Isaac, “Uber C.E.O. to Leave Trump Advisory Council after Criticism,” New York Times, February 2, 2017, https://www.nytimes.com/2017/02/02/technology/uber-ceo-travis-kalanick-trump-advisory-council.html. 17. Eric Newcomer, “In Video, Uber CEO Argues with Driver over Falling Fares,” Bloomberg, February 28, 2017, https://www.bloomberg.com/news/articles/2017-02-28/in-video-uber-ceo-argues-with-driver-over-falling-fares. 18. Travis Kalanick, “A Profound Apology,” Uber Newsroom (blog), February 28, 2017, https://newsroom.uber.com/a-profound-apology. 19. Mickey Rapkin, “Uber Cab Confessions,” GQ, February 27, 2014, http://www.gq.com/story/uber-cab-confessions. 20. Nitasha Tiku, “Uber CEO on Driver ‘Assault’: It’s Not Real and We’re Not Responsible,” Valleywag, September 16, 2013, http://valleywag.gawker.com/uber-ceo-on-driver-assault-its-not-real-and-were-n-1323533057. 21.

For the next year, Fowler was in hell: she was subjected to sexist comments; threatened that she should not communicate with other women staff members about her experiences; and told that, despite her stellar performance reviews, she had “undocumented performance problems” that prevented her from changing teams. By the end of 2016, she’d had enough. She quit, leaving for the online payment company Stripe instead. One Sunday the following February, she decided to tell her story. She published a painstakingly detailed, 3,000-word post to her personal blog outlining precisely what had happened.10 The internet went wild. That same day, CEO Travis Kalanick released a statement calling Fowler’s experience “abhorrent and against everything Uber stands for and believes in,” 11 and claiming this was the first he’d heard of the problem. By Monday, he’d hired former attorney general Eric Holder’s law firm to investigate sexual harassment at the company, and he said that investor Arianna Huffington and others would be reviewing findings shortly.12 Within days, two more stories of sexual harassment and humiliation at Uber had been published, and countless others confirmed that the company culture was as they described it: aggressive, degrading, and chaotic.

Atlantic, October 13, 2016, https://www.theatlantic.com/technology/archive/2016/10/is-silicon-valley-a-meritocracy/503948. 10. Susan J. Fowler, “Reflecting on One Very, Very Strange Year at Uber,” Susan J. Fowler (blog), February 19, 2017, https://www.susanjfowler.com/blog/2017/2/19/reflecting-on-one-very-strange-year-at-uber. 11. Everett Rosenfeld, “Uber CEO Orders ‘Urgent Investigation’ after Allegation of Harassment, Gender Bias at Company,” CNBC, February 19, 2017, http://www.cnbc.com/2017/02/19/uber-ceo-travis-kalanick-says-orders-urgent-investigation-after-allegation-of-harassment-gender-bias-at-company.html. 12. Steven Overly, “Uber Hires Eric Holder to Investigate Sexual Harassment Claims,” Washington Post, February 21, 2017, https://www.washingtonpost.com/news/innovations/wp/2017/02/21/uber-hires-eric-holder-to-investigate-sexual-harassment-claims. 13. Kara Swisher, “Uber’s SVP of Engineering Is Out After He Did Not Disclose He Left Google in a Dispute over a Sexual Harassment Allegation,” Recode, February 27, 2017, http://www.recode.net/2017/2/27/14745360/amit-singhal-google-uber. 14.


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The Network Imperative: How to Survive and Grow in the Age of Digital Business Models by Barry Libert, Megan Beck

active measures, Airbnb, Amazon Web Services, asset allocation, autonomous vehicles, big data - Walmart - Pop Tarts, business intelligence, call centre, Clayton Christensen, cloud computing, commoditize, crowdsourcing, disintermediation, diversification, Douglas Engelbart, Douglas Engelbart, future of work, Google Glasses, Google X / Alphabet X, Infrastructure as a Service, intangible asset, Internet of things, invention of writing, inventory management, iterative process, Jeff Bezos, job satisfaction, Kevin Kelly, Kickstarter, late fees, Lyft, Mark Zuckerberg, Oculus Rift, pirate software, ride hailing / ride sharing, self-driving car, sharing economy, Silicon Valley, Silicon Valley startup, six sigma, software as a service, software patent, Steve Jobs, subscription business, TaskRabbit, Travis Kalanick, uber lyft, Wall-E, women in the workforce, Zipcar

Orchestrated well, with ongoing development of customer relationships—and not customer transactions—as the key performance indicator, each customer revisit will generate greater affinity and value for the customer as well as greater clarity and value to the firm. PRINCIPLE 7 EMPLOYEES From Employees to Partners Employment in society has overstretched itself. —Charles Handy, author and philosopher WHEN UBER PASSED THE MILLION-DRIVER MARK (that’s right—one million drivers) in late 2015, CEO Travis Kalanick wrote in the Economist, “I realised that sharing-economy companies really are pointing the way to a more promising future, where we have more power over when, where and how long to work. It’s a shift that has the potential to give people more flexibility, more freedom and more control over their lives, their jobs and their incomes.”1 One might think that this quotation is self-serving, given that Uber’s digital network business model is based on a network of freelance drivers.

He questioned each and every one of them, inverted them, and brought them to market. On-demand home delivery of movies with no late fees was a revelation for the market; it constituted a major disruption. This new business model took down Blockbuster and has forced movie theaters to adapt and find new ways to lure customers off their sofas to the big screen. Today this story is familiar and can be seen in many industries. Uber’s CEO, Travis Kalanick, did the same thing when he created a ride-sharing service using mobile technologies to connect drivers and riders directly, where existing black car and taxi companies didn’t. Founder of Angie’s List Angie Hicks connected homeowners to share reviews of local businesses and service providers, creating enormous value over traditional listings like the Yellow Pages. But don’t assume that only start-ups can embrace new mental models and core beliefs.

Brand Finance, press release, “Lego Overtakes Ferrari as the World’s Most Powerful Brand,” http://brandfinance.com/news/press-releases/lego-overtakes-ferrari-as-the-worlds-most-powerful-brand/. 4. Innocentive website, “What We Do,” http://www.innocentive.com/about-innocentive. Principle 6, Revenues 1. Brent Leary, “Amir Elaguizy of Cratejoy: Good Subscription Business Models Focus on Relationships Not Transactions,” Small Business Trends, August 14, 2015, http://smallbiztrends.com/2015/08/elaguizy-cratejoy-subscription-business-models.html. Principle 7, Employees 1. Travis Kalanick, “The Charms of the Sharing Economy,” Economist, The World in 2016 (single issue), November 6, 2015, http://www.theworldin.com/article/10631/charms-sharing-economy. 2. Ernst & Young, Study: Work-Life Challenges across Generations, http://www.ey.com/US/en/About-us/Our-people-and-culture/EY-work-life-challenges-across-generations-global-study. 3. Rena Rasch, “Your Best Workers May Not Be Your Employees,” IBM Smarter Workforce Institute, October 2014, http://www-01.ibm.com/common/ssi/cgi-bin/ssialias?


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The Gig Economy: A Critical Introduction by Jamie Woodcock, Mark Graham

Airbnb, Amazon Mechanical Turk, autonomous vehicles, barriers to entry, British Empire, business process, business process outsourcing, call centre, collective bargaining, commoditize, corporate social responsibility, crowdsourcing, David Graeber, deindustrialization, disintermediation, en.wikipedia.org, full employment, future of work, gender pay gap, gig economy, global value chain, informal economy, information asymmetry, inventory management, Jaron Lanier, Jeff Bezos, job automation, knowledge economy, Lyft, mass immigration, means of production, Network effects, new economy, Panopticon Jeremy Bentham, planetary scale, precariat, rent-seeking, RFID, ride hailing / ride sharing, Ronald Reagan, self-driving car, sentiment analysis, sharing economy, Silicon Valley, Silicon Valley ideology, TaskRabbit, The Future of Employment, transaction costs, Travis Kalanick, two-sided market, Uber and Lyft, Uber for X, uber lyft, union organizing, women in the workforce, working poor, young professional

In the former system, clients and workers typically post information about their jobs and skills on a profile – allowing buyers to bid for workers and (more commonly) workers to bid for jobs. In the latter system, prices are fixed and no negotiation is possible. Uber and Deliveroo, for instance, don’t allow drivers to negotiate their mileage rates. Fiverr conversely allows workers to set fixed prices for clients. Uber’s former CEO, Travis Kalanick, once noted1 ‘We are not setting the price. The market is setting the price … We have algorithms to determine what that market is.’ This selective framing conceals a lot of what platforms actually do. They are much more than just the matching infrastructure. Other core functions that they perform are facilitating payments, establishing trust mechanisms, surveillance of workers (and, in some cases, clients), and myriad sector-specific features like driver routing or panic buttons.

However, once ‘it becomes established, Uber takes a bigger slice of each dollar and often cuts fares. Over time, Uber has taken a larger and larger slice of every fare’ (Slee, 2015: 65). This is how Uber makes money with the platform: by taking a commission from every journey that a driver makes. The success of Uber is also partly explained by its engagement with regulation and transport policy. As Travis Kalanick (2013) – the former CEO of Uber – explained: In most cities across the [US], regulators have chosen not to enforce against non-licensed transportation providers using ridesharing apps. This course of non-action resulted in massive regulatory ambiguity leading to one-sided competition which Uber has not engaged in to its own disadvantage. This coyly phrased lack of ‘disadvantage’ has actually proven to be incredibly advantageous for Uber.

., Carmel, E., Hirscheim, R. and Olsen, T. (2013) Managing the human cloud. MIT Sloan Management Review, 54(2): 23–32. Kalanick, T. (2013) Uber Policy White Paper 1.0. Uber. Available at: http://www.benedelman.org/uber/uber-policy-whitepaper.pdf Kalanick, T. and Swisher, K. (2014) Uber CEO: We’re in a political battle with an ‘assh*le’, Mashable, 28 May. Available at: http://mashable.com/2014/05/28/travis-kalanick-co-founder-and-ceo-of-uber/ Kalleberg, A.L. (2009) Precarious work, insecure workers: Employment relations in transition. American Sociological Review, 74(1): 1–22. Kaplanis, I. (2007) The Geography of Employment Polarisation in Britain. London: Institute for Public Policy Research. Kessler, S. (2018) Gigged: The Gig Economy, the End of the Job and the Future of Work. New York: St. Martin’s Press.


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The Driver in the Driverless Car: How Our Technology Choices Will Create the Future by Vivek Wadhwa, Alex Salkever

23andMe, 3D printing, Airbnb, artificial general intelligence, augmented reality, autonomous vehicles, barriers to entry, Bernie Sanders, bitcoin, blockchain, clean water, correlation does not imply causation, distributed ledger, Donald Trump, double helix, Elon Musk, en.wikipedia.org, epigenetics, Erik Brynjolfsson, Google bus, Hyperloop, income inequality, Internet of things, job automation, Kevin Kelly, Khan Academy, Kickstarter, Law of Accelerating Returns, license plate recognition, life extension, longitudinal study, Lyft, M-Pesa, Menlo Park, microbiome, mobile money, new economy, personalized medicine, phenotype, precision agriculture, RAND corporation, Ray Kurzweil, recommendation engine, Ronald Reagan, Second Machine Age, self-driving car, Silicon Valley, Skype, smart grid, stem cell, Stephen Hawking, Steve Wozniak, Stuxnet, supercomputer in your pocket, Tesla Model S, The Future of Employment, Thomas Davenport, Travis Kalanick, Turing test, Uber and Lyft, Uber for X, uber lyft, uranium enrichment, Watson beat the top human players on Jeopardy!, zero day

Uber’s employees have already considered the implications of their platform and view Uber not as a car-hailing application but as a marketplace that brings buyers and sellers together. You can see signs of their testing the marketplace all the time, ranging from comical marketing ploys such as using Uber to order an ice-cream truck or a mariachi band, to the really interesting, such as “Ubering” a nurse to offer everyone in the office a flu vaccine. Uber’s CEO, Travis Kalanick, openly claims that his service will replace car ownership entirely once self-driving car fleets enter the mainstream.4 What will happen to the humans who drive for Uber today remains an open question. So what makes conditions ripe for a leap into the future in any specific economic segment or type of service? There are variations across the spectrum, but a few conditions tend to presage such leaps.

For me, it’s already a toss-up between driving and flying when I want to travel from San Francisco to Santa Barbara, which is four and a half hours away by car and takes four hours by plane and taxis (provided there are no flight delays). The self-driving cars will easily tip the balance; for any trips on the West coast, I’ll forgo the flights. Imagine the disruptions to the railroad and airline industries when we all start making this choice. And all of this begins to happen by the early 2020s. If I can rely on Elon Musk, my Tesla will become fully autonomous as early as 2018; 14 and Uber’s CEO, Travis Kalanick, has signed a pact with Volvo to have self-driving cars on the roads by 2021.15 Does the Technology Foster Autonomy Rather Than Dependence? I simply can’t wait for self-driving cars to take over our roads; I see them as increasing our personal autonomy as much as, if not more than, anything else discussed in this book. Let’s be honest: we may think we own our cars, but in reality our cars also own us.

See also Biohacking; Cyber attacks companies preparing to be hacked, 109 and lifting personal information, 161–162, 164 Hawking, Stephen, 45, 93 Health care entrepreneurs to the rescue, 71–73 revolution in genetics driving, 68–70 self-diagnosis, 70–71 self-guided, 70–71 shift toward home-based investigation, 76 the waistline and the new paradigm for personalized medicine, 65–67 Healthcare technology, xii, xiii, 64, 73–76, 167–174 consumerization of, 76–77 fostering autonomy vs. dependence, 78–82, 176–178 and medical diagnosis, 70–74 reducing the costs of medical testing, 71–74 HealthCube Pro, 72–75, 77 Hinds, Pamela, 151–152 Hole-in-the-Wall Education Project, 59 Hollister, Scott, 169 Honan, Mat, 106 Human Genome Project, 123 Iamus (computer), 39 IBM Watson, 40–41, 127 Identity theft, 104–105, 107, 110, 112, 164 Implants, 169–170 Indian Institute of Technology (IIT), 56–57 Individual choices, importance of, 25–26 Intelligence, 13. See also Artificial intelligence Internet access, 22–23, 63 Internet of Things (I.o.T.), 11, 25, 104, 156–157 the awesome things about, 157–160 benefits vs. risks of, 164–166 defined, 156 fostering autonomy vs. dependence, 163–164 the frightening thing about, 161–163 Japan, aging of, 92 Kahol, Kanav, 71–74, 77 Kalanick, Travis, 153 Kelly, Kevin, 43, 112 Khosla, Vinod, 41 Kim, Tammie, 151–152 Kurzweil, Ray, 12–13, 16, 94, 184 Labor market, A.I. and the, 96–97 Laptop computers in educational settings, 53–54 Laws, 29–30, 42–43 Laxminarayan, Ramanan, 72–74, 77 Learning. See also Education the flipped future of EdTech and personalized, 59–62 Mahan, Steve, 144 Massive open online courses (MOOCs), 54 McAfee, Andrew, 96 Medical identity theft, 107.


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This Could Be Our Future: A Manifesto for a More Generous World by Yancey Strickler

basic income, big-box store, Capital in the Twenty-First Century by Thomas Piketty, Cass Sunstein, cognitive dissonance, corporate governance, Daniel Kahneman / Amos Tversky, David Graeber, Donald Trump, Doomsday Clock, effective altruism, Elon Musk, financial independence, gender pay gap, global supply chain, housing crisis, Ignaz Semmelweis: hand washing, invention of the printing press, invisible hand, Jeff Bezos, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Nash: game theory, Joi Ito, Joseph Schumpeter, Kickstarter, Louis Pasteur, Mark Zuckerberg, medical bankruptcy, new economy, Oculus Rift, off grid, offshore financial centre, Ralph Nader, RAND corporation, Richard Thaler, Ronald Reagan, self-driving car, shareholder value, Silicon Valley, Simon Kuznets, Snapchat, Social Responsibility of Business Is to Increase Its Profits, stem cell, Steve Jobs, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, Travis Kalanick, universal basic income, white flight

But at the same time I started taking note of this aggressive tone whenever I came across it in the world of business. I started seeing it on magazine covers: This CEO is out for blood. These businesses own the world. In headlines: The war for tech dominance. The streaming media arms race. The Great Tech War of 2012. The Great AI War. Keeping count of Silicon Valley casualties. In news stories: Former Uber CEO Travis Kalanick’s texts and emails included phrases like “war time,” “burn the village,” and “pound of flesh.” Mark Zuckerberg was reported to have told his leaders that Facebook was at “war” after it faced criticism for its role in election interference. In everyday business vernacular: Destroy the competition. Poach employees. Capture a market. Make a killing. This kind of language had nothing to do with building a strong organization, making good decisions, or improving the status quo.

pushing for faster growth: Eighteen months later, the New York Times profiled Zenefits’ downfall as well (“Zenefits Scandal Highlights Perils of Hypergrowth at Start-Ups,” February 17, 2016). “it does seem like a rational decision”: Andrew Mason’s comments about Groupon were reported by New York Magazine (“The Super-Quick Rise and Even Faster Fall of Groupon,” October 2018). “pound of flesh”: From Wired (“Waymo v. Uber Kicks Off with Travis Kalanick in the Crosshairs,” February 5, 2018). role in election interference: From the New York Times (“Delay, Deny, Deflect: How Facebook’s Leaders Fought Through Crisis,” November 14, 2018). “Only under such conditions will business and factories truly prosper”: Konosuke Matsushita quotes are from the book Not for Bread Alone. have five-day workweeks: Details on Panasonic’s change to a five-day workweek come from Panasonic’s official corporate history.

See also wages individual, the, xiv–xv, 26–27, 269–70 inequality, 14, 73, 114, 170, 196, 239, 260 Intel, 79 internet, 84, 191, 267 control over, 53–54 creation of, xiv, 38 gov. investment in, 78–79 retailers on, 51, 54–55, 71 iPhone, xii, 54, 78, 168, 182–83 Japan, xvi, 27, 101–3, 129–30 jobs and automation, 72–73, 192 creation of, x, 193 and lack of raises, 63–66 and mass layoffs, 62, 67, 71–73, 84–85 and top earners, 64 Jobs, Steve, 15, 79 Jogging (Bowerman), 186 Johnson, Magic, 159 Kahneman, Daniel, 22–23, 113 Kalanick, Travis, 98 Kennedy, John F., 184–85, 187 Keynes, John Maynard, 193–95 Kickstarter, 15, 115, 175 charter of, 170–71 creative projects of, 5–7, 10–13 founding of, 4–8, 236, 247 as PBC, 6, 9–12, 100–101, 169–71, 264 and stock buybacks, 67–68 wins best award, 87–88 knowledge, 21, 123, 217 and generational change, 180–81 as governing value, 144–45 high value of, xii–xiii, xv, 25 new, 150, 202, 268 Kondratiev waves, 267–68 Kuznets, Simon, 120–21 Lancet, The, 179, 184 Lazonick, William, 73 Let My People Go Surfing (Chouinard), 172 Lewis, Michael, x, 159–60 Liar’s Poker (Lewis), x life goals meaningful, 89–92, 111, 201 purpose-oriented, 94, 119 wealth-centric, 89–92, 94, 105, 119 life span, xi, 15, 266 Lister, Joseph, 147, 149, 179, 183–84, 187 Live Nation, 162, 263 long-term oriented, 110, 166–68, 175–76, 264.


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Tech Titans of China: How China's Tech Sector Is Challenging the World by Innovating Faster, Working Harder, and Going Global by Rebecca Fannin

Airbnb, augmented reality, autonomous vehicles, blockchain, call centre, cashless society, Chuck Templeton: OpenTable:, cloud computing, computer vision, connected car, corporate governance, cryptocurrency, data is the new oil, Deng Xiaoping, digital map, disruptive innovation, Donald Trump, El Camino Real, Elon Musk, family office, fear of failure, glass ceiling, global supply chain, income inequality, industrial robot, Internet of things, invention of movable type, Jeff Bezos, Kickstarter, knowledge worker, Lyft, Mark Zuckerberg, megacity, Menlo Park, money market fund, Network effects, new economy, peer-to-peer lending, personalized medicine, Peter Thiel, QR code, RFID, ride hailing / ride sharing, Sand Hill Road, self-driving car, sharing economy, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, Skype, smart cities, smart transportation, Snapchat, social graph, software as a service, South China Sea, sovereign wealth fund, speech recognition, stealth mode startup, Steve Jobs, supply-chain management, Tim Cook: Apple, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, urban planning, winner-take-all economy, Y Combinator, young professional

The Beijing-based startup, founded by CEO Li Haipeng, has recently attracted $50 million in funding from DCM, Tiger Global, and others, taking its total funding to $80 million. Within the three years of its start in 2016, Panda Selected has grown to 120 locations in China’s major business hubs. This service is meant to attract a young on-the-go population who order food by mobile app. Former Uber CEO Travis Kalanick is working on a similar idea with his Los Angeles–based startup CloudKitchens, so perhaps this innovative concept will become better known in the United States. The sharing economy has arisen in China with the uptake of mobile apps and payments and a young consumer population that enjoys experimenting with new things. The appeal of ride hailing is the ability to tap on a mobile screen and secure a driver to take you where you want to go for less than a taxi fare, then step out of the car without dealing with cash.

Table 7-2 Comparing Didi and Uber Start Date and Headquarters Didi: 2012 in Beijing Uber: 2009 in San Francisco Venture Capital Raised Didi: $21 billion Uber: $20 billion Number of Users Didi: 40 million monthly users Uber: 40 million monthly users Locations Didi: 400 cities Uber: 400 cities Market Share in Home Market Didi: 80 percent Uber: 73 percent Backers Didi: Tencent, Alibaba, SoftBank, Apple, and Singapore government investment fund Temasek Uber: SoftBank, Baidu, Google Ventures, private equity firm TPG, and Silicon Valley VC firm Benchmark Capital Market Valuation Didi: $4 billion financing in late 2017 from SoftBank and an Abu Dhabi state fund with $56 billion valuation, ranked third among global unicorns Uber: investment in early 2018 from SoftBank consortium with $72 billion valuation, ranked second among global unicorns Public Listing Plans Didi: plans to go public have been delayed and company is restructuring Uber: went public in 2019 Didi Buys Out Uber in China Contrasts between Uber and Didi take on a whole new meaning when you consider what happened to Uber in China. Uber founder Travis Kalanick battled against two Chinese executives at Didi: founder and CEO Cheng Wei, a former sales manager at Alipay, and Liu Qing (aka Jean Liu), a sophisticated and polished Goldman Sachs alumnus from Hong Kong with a Western-style PR-ish manner. Kalanick took Uber to China in late 2013 and spent heavily to gain market share by subsidizing rides and driver salaries. He was widely quoted as being gung ho about winning the China market and joked that he was spending so much time in the country that he should apply for Chinese citizenship.

., 103 China Investment Corp, 172 China UnionPay, 168 China venture capitalists, 128 Chinese consumers, 3 Chinese culture, 22 Chinese economy, 3 Chinese internet brands, 15 Chinese IPOs, 131 Chinese tourism, 113 ChiNext, 135 Chrysler, 209 Chuhai, 56 City Brain, 163 CloudKitchens, 175 Cloud Valley, 119 Coach handbags, 9 Cohen, Brian, 121 Colin Huang, 185, 192–193 Committee on Foreign Investment (CFIUS), 55 Connie Chan, 86 Consumer Electronics Show (CES), Las Vegas, 32–33 Cook, Tim, 32 Costa Coffee, 102 Costco, 186 Coworking, 111 Creagh, Eleanor, 93 Credit Suisse, 171 CSC Upshot Ventures, 146 D Da-Jiang Innovations, 218 Dalian Wanda, 54 DAMO (discovery, adventure, momentum, and outlook) Academy, 56 Dangdang, 44–45 Daniel Zhang, 49 Danke Apartment, 106 David Chao, 154–155 David Li, 81 David Yuan, 157 DCM Ventures, 84, 106, 154–156 Deng Xiaoping, 16, 28, 128 Derrick Xiong, 217 Dick Clark Productions, 52, 54 Didi, 21, 42, 60, 69, 98, 104, 176–179 international operations, 182–183 safety issues, 184 vs Uber, 179–182 Didi Brain, 178 Didi Chuxing, 20, 44, 69, 173–174 DingTalk, 31, 106 DJI, 5, 211–212, 215–220 Doerr, John, 128, 139–140 Donovan Sung, 73 Douyin, 82, 89 Draper, Tim, 52, 136–137 Draper Associates, 137 Draper University, 137 Dropbox, 218 DST Global, 78 Duoduoyou, 95 Duoshan, 43, 85 E EachNet, 138 EBay, 15, 28, 52, 85, 96, 104, 216 Eclipse Ventures, 220 EHang, 5, 152, 216–217 EHi Car Services, 153 Ele.me, 42, 61, 157, 211 Elephant Robotics, 213 11Main.com, 191 Evans, Michael, 50 Evdemon, Chris, 50 Evernote, 104, 117–119 EyeVerify, 63 F Face++, 29, 165 Facebook, 1, 5, 10, 15, 26, 28, 30–32, 43–45, 48, 52, 82, 84, 87, 104, 115, 128, 132, 162, 218 Facial recognition systems, 2 Fallon, Jimmy, 85 Fandango, 90 Fanfou, 95 FANGs, 26, 50 Fang Xingdong, 138 Faraday Future, 207 FAW Group, 33 Fintech, 19 Fire in the Valley, 68 Fishtrip, 116 Flipagram, 88 Fong, Kevin, 137 Ford, 204, 209 Fortnite, 66 Foster & Partners, 216 Fountown, 110 4Paradigm, 165 Francis Leung, 161–162 Frank Wang, 216–218 Freshippo, 98 Friendster, 43 G Gaopeng, 95 Gates, Bill, 208 General Atlantic, 38, 51 General Catalyst Partners, 117 General Motors, 51, 209 Gen Z youngsters, 6 Gerson Lehrman Group, 107 GGV Capital, 11, 55, 86, 112 Glen Sun, 120, 127 Gobi Partners, 149 Go-Jek, 57 Golden Gate Bridge, 11 Goldman Sachs, 151 Google, 10, 15, 26, 28, 33–34, 45, 52, 57, 75, 79, 95, 104, 115, 127–129, 132, 144, 162, 178, 191, 193 Google China, 34–35 Google Pay, 5, 32 GoPro, 219 Grab, 57 Granite Global Ventures (GGV), 138, 143, 151–154, 169, 198, 217 Graziani, Thomas, 186 The Great Wall, 53 Great Wall Motors, 208 Groupon, 15, 43, 69, 95–96, 104, 186 GrubHub, 90 GSR Ventures, 138, 157 Gu, Amy, 118 Guangzhou Automobile Group, 207 Guinn, Colin, 219 Gullicksen, Ken, 118 H Hainan Airlines, 168 Hans Tung, 11, 55, 78, 120–121, 153, 192 Hao, Robert, 115 Haokan, 85 Hariharan, Anu, 87 Harvard university, 11 HAX accelerator, 213–214 Hearst Ventures, 169 Hemi Ventures, 118 He Xiaopeng, 197, 203–206 Hikvision, 162 Hillhouse Capital, 112, 175, 198 Hilton, 9, 54 Hoffman, Reid, 105 Hollywood, 52–55 Hong Ge, 115 Horizon Robotics, 213 Horizon Ventures, 112 Horowitz, Andreessen, 52, 86, 138 Hortons, Tim, 102 H&Q Asia Pacific, 102 Huahua Media, 54 Huami, 77 Huang, 186 Huawei, 5, 13, 16, 73, 76 Hurst Lin, 120, 155 Hyatt, 9 Hyundai, 28 I IBM, 162 IDG Capital, 138, 193, 198 IFlytek, 163 ING Group, 171 Instagram, 1–2, 15, 51 Intel, 16, 144 International Finance Corporation, 171 IPhone, 70 IQiyi, 19, 60, 84 Israel, 56 J Jack Ma, 3, 26, 28, 45, 47, 49–50, 52, 56, 78, 99–100, 135, 154–155, 191 JAFCO Asia, 154 James Mi, 121, 156, 193 Janow, Merit, 17 Japan, 56 JD.com, 18, 29, 38, 88, 98, 147, 185, 187–189, 191, 211 Jenny Lee, 154 Jerry Yang, 106, 154 Jet Li, 52 Jian Lu, 106 Jing Bing Zhang, 219 Jobs, Steve, 3, 68 Joe Chen, 44 Joe Zhou, 140 Johnson, Kevin, 101 Joy Capital, 103 Joyo.com, 75 JPMorgan, 115 Jurvetson, Draper Fisher, 134 K Kabam, 63 Kai-Fu Lee, 34, 123, 147, 165 Kalanick, Travis, 175, 181 Karma Automotive, 207 Katzenberg, Jeffrey, 85 Kayak, 69, 90 Kellman, Joel, 152 Kentucky Fried Chicken, 9 Keytone Ventures, 140 Khazanah Nasional Berhad, 171 Khosla, Vinod, 138 Khosla Ventures, 134, 138 Kingsoft, 74–75, 79 Kitt.ai, 163 KKR, 83 Kleiner Perkins, 140, 148 Koubei, 61 Kramlich, Dick, 139, 142 Kr Space, 110 Kuaidi, 173, 181 Kuaishou, 66, 84–85, 156 L LAIX, 169 Lam, David, 146 Lashou, 95–96 Lasso, 32, 84 Lau, Marvin, 64 Lazada, 58 Lazada Group, 58 League of Legends, 64 Lee, Jenny, 123 LeEco, 54 Legend Capital, 155, 171 Lei Jun, 44, 68, 71, 74–76, 79, 81, 135, 152 Leju, 66 LendingClub, 171 Leone, Doug, 129 LG, 28 Libin, Phil, 117–118 Lightspeed China Partners, 156, 193 Li Guoqing, 44 Li Haipeng, 175 Li Ka-shing, 171 Lin Haifeng, 193 LinkDoc, 169, 171–172 LinkedIn, 15, 104 LinkedIn China, 104–107 Lip-Bu Tan, 139 Little Elephant market, 98 Little Red Book, 189–190 Liulishuo (LingoChamp), 154 Live.me, 88 Livestreaming, 19, 80–81, 88 Li (David) Xueling, 199 Li Zexiang, 217 Li Zhaohui, 67 Lo, Vincent, 152 Long Hill Capital, 148 Lonsdale, Jeff, 138 Luan, Pan, 67 Luckin Coffee, 99–100 business model, 103 Lu Qi, 33 Lyft, 21, 51, 178, 183 M Macquarie Group, 115 Made-in-China business models, 10 Made in China 2025 initiative, 172, 200, 208, 212, 224 Magic Leap, 21 Ma Huateng (Pony Ma), 28 Mail.Ru, 29 Maimai, 106 MakeBlock, 213 Marriott, 9 Marvell, 15 Massachusetts Institute of Technology, 94, 168 Master-Card, 32 Matrix China Partners, 138 Matrix Partners, 138 Matrix Partners China, 110, 138, 198 Mavic Pro, 218 Mayfield, 51, 137–138 Mayi.com, 116 McDonald’s, 9 Meeker, Mary, 140 Megafunds, 134 Megvii, 165 Meituan, 175, 189 Meituan Bike, 175 Meituan Dianping, 20–21, 38, 42–43, 61, 69–70, 89–98 bike-sharing business, 94 competitors, 93 deliveries, 91–93 merger, 96–97 revenues, 94 travel and hotel segment, 93–94 Meizu Zero, 72 Messenger, 51 Mi.com, 71 Micron Technology, 16 Microsoft, 30, 33, 75, 79, 144, 162, 193 Milner, Yuri, 78, 83, 171 MIT university, 11 Mobike, 21, 61, 94, 151, 174–175 Mobile payments, 5, 19 MoneyGram, 55, 63 Morgenthaler Ventures, 118 Moritz, Mike, 11, 51, 128–129 Morningside Venture Capital, 84, 198 MOX, 214 Musical.ly, 83, 87–88 MySpace, 28 N Naked Hub, 108–111 Naspers, 66 Neil Shen, 97, 119 Netflix, 26, 48, 81 Netscape, 52 Neumann, Adam, 109 New Enterprise Associates, 51 New Enterprise Associates (NEA), 141–143 New Oriental Education & Technology Group, 135 New Space, 110 New York–based RRE Ventures, 133 Ng, Thomas, 152 Nike, 218 Nike shoes, 9 NIO, 2, 19, 200–201, 206–207 Nuomi, 96 Nvidia, 196 O Ofo, 61, 128, 138, 157, 174–175 On-demand ordering and delivery of takeout orders, 5 O2O, 97 OpenTable, 90 OPPO, 76, 168 Optibus, 56 Oracle, 129 O’Sullivan, Sean, 123, 214 P Page, Larry, 29, 34 Palo Alto, 52 Panda Selected, 175 Parrot, 220 PayPal, 31, 46, 128 Peggy YuYu, 44 Penaloza, 107 Penaloza, Dominic, 107 Perkins, Kleiner, 134 Perkins, Tom, 132 Pinduoduo, 2, 29, 66, 134, 185–188, 192–195 Ping An, 137 Pinterest, 15, 104 Pony Ma, 3 PPDAI Group, 171 Primavera Capital Group, 198 Princeton university, 11 Project Dragon, 15 Project Dragonfly, 104 Q Qiming Venture, 95, 175 Qiming Venture Partners, 129, 150–151 Qiye Weixin, 42, 106 QQ instant messaging service, 29 QR code, 109 QR (quick response) code, 1–2 Qualcomm, 15, 144 Qudian, 171 Quixey, 63 Qunar, 60 R Rational Robotics, 214 Reddit, 64, 88 Redpoint China, 157 Redpoint China Ventures, 133 Renren, 44 Retail commerce, 18–19 Revols, 214 Rework, 110 Richard Chang, 142 Richard Ji, 116 Richard Liu, 78, 123 Rieschel, Gary, 8, 16, 120, 122, 129, 150–151 Riot Games, 64 Robin Li, 3, 28, 33–35, 60, 122 Robinson, Jim, 121, 133 Robotics and drone market, 212 Roomba, 214 Rui Ma, 186 S Samsung, 28, 70, 76 Sandell, Scott, 141 Schultz, Howard, 100 SenseTime, 2, 29, 161, 167–169 camera surveillance technology, 162 Sequoia Capital, 11, 110, 129, 171, 175 Sequoia Capital China, 84, 95, 97, 105, 112, 119, 127–129, 194, 213, 218 Sequoia CBC Cross-Border Digital Industry Fund, 119 Serendipity Labs, 111 Sesame Credit system, 6 7Fresh, 189 7Fresh stores, 98 Shanghai Automotive Industry Corp., 208 Shanghai-based Qiming Venture Partners, 8 Shanghai World Financial Towers, 9 Shen, Neil, 128–129, 194 Shenzhen, 2 Short video entertainment apps, 7 Silicon Dragon, 109 Silicon Valley, 20–22, 27, 29, 31, 33, 42, 44, 50–52, 60, 63, 68–69, 79, 95, 105, 117, 129, 132–134, 137–143, 145–146, 150, 153, 158, 178, 192, 196, 199, 204–205, 218–220, 223–225 Silver Lake Partners, 38 Simon Loong, 171 Sina Corp., 95 Sino—US Venture Investors, 135–136 Sinovation Ventures, 110, 146, 165–166 Skype, 1 Snap, 64 Snapchat, 81, 84 Lens Challenges, 69 Social commerce, 20 SoFi, 44 SoftBank, 38, 51, 83, 138, 151, 183 Sonny Wu, 157 Southeast Asia, 56–57, 149 Alibaba and Tencent Investments in, 59 SpaceX, 51, 220 Spielberg, Steven, 52 SQream Technologies, 56 Squawk Box, 86 Stanford university, 10 Starbucks, 15, 99–100, 102–104, 111 initiative with Alibaba, 100–101 Reserve Roastery, 101–102 Startup Asia, 57 “Startup Nation” of Israel, 56 Steven Ji, 128 STX Entertainment, 52 Su Hua, 85 Sun Microsystems, 128 Supercharging stations, 7 T Tai, Bill, 137 Ta-lin Hsu, 102, 139 TangoME, 63 Tang Xiaoou, 167 Taobao, 28, 185, 187 Tao Peng, 113 TechSauce, 148 Temasek, 172 Tencent, 12–13, 20–21, 26, 28–32, 38, 44, 46–48, 51–52, 57, 61, 70, 80–81, 83, 95, 138, 147, 153, 163–164, 171, 190–191, 197, 206, 224 China Literature, 41 corporate culture, 63 diversification strategy, 67 gaming business, 40, 64, 66 growth of, 39–40 social networking service, 41–42 strategic investments, 63–66 in US, 52, 63–65 war with ByteDance, 85 youth culture, 39 Tencent Music Entertainment, 41 Tencent Video, 41, 84 Terminator: Dark Fate, 53 Tesla, 2, 15, 64, 196, 209–210, 220 Thiel, Peter, 138 Thompson, Ben, 77 Tian, Edward, 118–119 Tian Xu, 193 Tiger Computing Solutions, 163 TigerGraph, 163 Tiger Qie, 178 TikTok, 2, 21, 29, 31–32, 39, 43, 66, 69–70, 82, 84, 87 Tina Ju, 140 TMD, 43–44, 69 Tokopedia, 58 The Tonight Show, 85 3D Robotics, 219–220 TopBuzz, 82 Toutiao (Today’s Headlines), 21, 69–70, 80–81, 86–88 Traffic Brain, 178 Trump, Donald, 15, 45, 54–55, 164, 191 Tsai, Joe, 50 Tujia, 116 Twitch, 51 Twitter, 1, 15, 28, 43, 47, 84, 87, 104 U UBazaar mobile, 111 Uber, 21, 44, 51, 57, 60, 64, 83, 103–104, 128, 144, 173, 176–183 Uber Eats, 69, 90 Ubisoft, 64 UBTech, 213 UCAR, 103 UC Berkeley, 11 Ucommune, 110–111 UCWeb, 200 URWork, 110 US-China trade imbalance, 15 Ushi, 107 US IPOs, 131 US market, 46 US privacy laws, 7 US venture fund performance, 130 V Valentine, Don, 132, 139 VC Dixon Doll, 155 Venture capital market of China, 12, 130–158, 224 AI startups, 166 center of gravity for venture investing, 158 cross-border investors, 145–146 digital Silk Road, 136–139 funding for Asian companies, 148 history as a budding venture superpower, 139–140 investment returns, 141 investments in tech companies, 132–135 NEA’s China investing, 141–143 Sino—US Venture investment, 135–136, 146–148 venture firms, 150–158 Video streaming market, 2, 6, 19, 60, 83, 85, 154 Viomi, 77 VIPShop, 189–190 Vipshop, 156 Virtual gifts, 6 Virtual reality, 19 Visa, 32 Visualead, 56 Vivendi, 64 Vivo, 76 Vizio, 54 Volvo, 204 W Waimai, 60 Waldorf Astoria Hotel, 54 Walmart, 57–58 Wang Xing, 43, 89, 91, 94–95, 97 Wang Yi, 169 Wanka Online, 148 Warburg Pincus, 38 Warner Brothers, 51 Wayne Shiong, 121 Waze, 51 WeChat, 1–2, 29, 31, 34–35, 41–43, 46, 82, 106, 115, 144, 177, 187, 191, 197 WeChat Moments, 85 WeChat Pay, 5, 19, 32, 63, 182–183 WeDefend, 170 Wedo, 110 WeFlex, 170 Weibo, 35, 47, 82, 168, 197 Weiner, Jeff, 105–106 Weixin, 41 Wei-Ying Ma, 89 Wei Zhou, 121, 134 WeLab, 170–171 WeReach, 170 WeWork, 15, 104, 111 WeWork China, 108–111 WeWork Go, 109 WhatsApp, 1, 43, 51 Whitman, Meg, 85 William Li, 200, 206 Williams, David, 52 Wilson Sonsini Goodrich and Rosati (WSGR), 142–143 Wonder Woman, 52 Woo Space, 110 Workingdom, 110 Wu Xiaoguang, 199 X Xiadong Jiang, 172 Xia Huaxia, 92 Xiaodong Jiang, 142 Xiaomi, 20–21, 68–70, 75, 138, 141, 153, 168 business model, 76–79 core strength of, 73 customers, 72 growth, 72–73 international market, 79–80 Mi Home store locations, 73–74 mobile phone features, 70–71 range of internet-connected devices, 71 sales, 75–76 US market, 73–74 Xiaomi Finance, 80 Xiaonei, 95 Xiaopeng He, 122 Xiaozhu, 116 Xi Jinping, 12, 47, 208 Xpeng Motors, 19, 196–197, 200, 203–206 XPerception, 164 XTMD, 69 Xu Li, 161, 168–169 Y Yahoo!


pages: 561 words: 157,589

WTF?: What's the Future and Why It's Up to Us by Tim O'Reilly

4chan, Affordable Care Act / Obamacare, Airbnb, Alvin Roth, Amazon Mechanical Turk, Amazon Web Services, artificial general intelligence, augmented reality, autonomous vehicles, barriers to entry, basic income, Bernie Madoff, Bernie Sanders, Bill Joy: nanobots, bitcoin, blockchain, Bretton Woods, Brewster Kahle, British Empire, business process, call centre, Capital in the Twenty-First Century by Thomas Piketty, Captain Sullenberger Hudson, Chuck Templeton: OpenTable:, Clayton Christensen, clean water, cloud computing, cognitive dissonance, collateralized debt obligation, commoditize, computer vision, corporate governance, corporate raider, creative destruction, crowdsourcing, Danny Hillis, data acquisition, deskilling, DevOps, Donald Davies, Donald Trump, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, Filter Bubble, Firefox, Flash crash, full employment, future of work, George Akerlof, gig economy, glass ceiling, Google Glasses, Gordon Gekko, gravity well, greed is good, Guido van Rossum, High speed trading, hiring and firing, Home mortgage interest deduction, Hyperloop, income inequality, index fund, informal economy, information asymmetry, Internet Archive, Internet of things, invention of movable type, invisible hand, iterative process, Jaron Lanier, Jeff Bezos, jitney, job automation, job satisfaction, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Kevin Kelly, Khan Academy, Kickstarter, knowledge worker, Kodak vs Instagram, Lao Tzu, Larry Wall, Lean Startup, Leonard Kleinrock, Lyft, Marc Andreessen, Mark Zuckerberg, market fundamentalism, Marshall McLuhan, McMansion, microbiome, microservices, minimum viable product, mortgage tax deduction, move fast and break things, move fast and break things, Network effects, new economy, Nicholas Carr, obamacare, Oculus Rift, packet switching, PageRank, pattern recognition, Paul Buchheit, peer-to-peer, peer-to-peer model, Ponzi scheme, race to the bottom, Ralph Nader, randomized controlled trial, RFC: Request For Comment, Richard Feynman, Richard Stallman, ride hailing / ride sharing, Robert Gordon, Robert Metcalfe, Ronald Coase, Sam Altman, school choice, Second Machine Age, secular stagnation, self-driving car, SETI@home, shareholder value, Silicon Valley, Silicon Valley startup, skunkworks, Skype, smart contracts, Snapchat, Social Responsibility of Business Is to Increase Its Profits, social web, software as a service, software patent, spectrum auction, speech recognition, Stephen Hawking, Steve Ballmer, Steve Jobs, Steven Levy, Stewart Brand, strong AI, TaskRabbit, telepresence, the built environment, The Future of Employment, the map is not the territory, The Nature of the Firm, The Rise and Fall of American Growth, The Wealth of Nations by Adam Smith, Thomas Davenport, transaction costs, transcontinental railway, transportation-network company, Travis Kalanick, trickle-down economics, Uber and Lyft, Uber for X, uber lyft, ubercab, universal basic income, US Airways Flight 1549, VA Linux, Watson beat the top human players on Jeopardy!, We are the 99%, web application, Whole Earth Catalog, winner-take-all economy, women in the workforce, Y Combinator, yellow journalism, zero-sum game, Zipcar

Uber began as so many startups do, not as a transformative big idea but just with an entrepreneur “scratching his own itch.” In 2008, Garrett Camp began to dream of a system for summoning limousines (“black cars”) on demand. He had made it big with the sale of his startup, Stumbleupon. He’d bought a nice car, but he didn’t like driving, and San Francisco’s notoriously deficient taxi system made it difficult for him to get around. Over the next two years, Camp developed the idea, recruiting his friend Travis Kalanick, another successful entrepreneur, as a thought partner in the project. Camp originally planned to run his own fleet of on-demand limousines, but Kalanick argued against it. “Garrett brought the classy and I brought the efficiency,” Kalanick told Brad Stone in an interview. “We don’t own cars and we don’t hire drivers. We work with companies and individuals who do that. . . . I want to push a button and get a ride.

To make the future economy better than the present, find new ways to augment workers, giving them new skills and access to new opportunities. As we automate something that humans used to do, how can we augment them so that they can do something newly valuable? The idea that Uber teaches us that augmenting workers and helping them to succeed is an essential feature of companies looking to prosper in the next economy might create some cognitive dissonance for readers who have read about Uber’s abrasive, driven, former CEO, Travis Kalanick. In early 2017, Uber was rocked by a viral video that showed Kalanick berating a driver who told him that he had gone bankrupt because of Uber’s falling prices. “Some people don’t like to take responsibility for their own shit. They blame everything in their life on somebody else,” Kalanick burst out, in clear echo of Ayn Rand’s philosophy of unfettered self-interest. This is not the behavior of someone who places a high value on the humans who make the business work.

When you draw a new map successfully enough, you change the perception not only of the future but of the past. That thing that seemed unthinkable becomes the fabric of the everyday, and it’s hard to remember that it once was only one of many possibilities. We’ve seen other, more recent examples of this kind of creative rethinking of what is possible, which then becomes “obvious.” When Garrett Camp and Travis Kalanick first conceived of Uber, the notion that you could summon a car on demand was lying latent in the field of possibilities, unexplored. All the capabilities were in place. There were already hundreds of millions of smartphones equipped with sensors able to track the location of both drivers and passengers. And there were even connected taxicabs. But all that the traditional taxi companies did with their connectivity was to put a credit card reader in the back of the taxi, and a small screen for broadcasting content and ads.


pages: 468 words: 124,573

How to Build a Billion Dollar App: Discover the Secrets of the Most Successful Entrepreneurs of Our Time by George Berkowski

Airbnb, Amazon Web Services, barriers to entry, Black Swan, business intelligence, call centre, crowdsourcing, disruptive innovation, en.wikipedia.org, game design, Google Glasses, Google Hangouts, Google X / Alphabet X, iterative process, Jeff Bezos, Jony Ive, Kickstarter, knowledge worker, Lean Startup, loose coupling, Marc Andreessen, Mark Zuckerberg, minimum viable product, MITM: man-in-the-middle, move fast and break things, move fast and break things, Network effects, Oculus Rift, Paul Graham, QR code, Ruby on Rails, self-driving car, Silicon Valley, Silicon Valley startup, Skype, Snapchat, social graph, software as a service, software is eating the world, Steve Jobs, Steven Levy, Travis Kalanick, ubercab, Y Combinator

It is immediately obvious that there is going to be a big amount of legwork not only to start operations in one of these areas, but, more interestingly, to expand at an exciting rate. Let’s see how these companies have each approached international expansion in a different way. Uber started out as an app to hail and pay for black cars (the US version of minicabs or the big London minicab firm Addison Lee) in San Francisco, where taxis are in very short supply. The idea worked, and soon spread to more than 60 cities around the world. Travis Kalanick, Uber’s CEO and founder, adopted a bold strategy that has clearly worked – but certainly isn’t for the faint of heart. According to him, Uber is a ‘cross between lifestyle and logistics’.1 But Kalanick wants Uber to be an ‘instant gratification’ service that gives people what they need, when they need it, whether that’s a ride in a black car, taxi or some other delivery (Uber has delivered all kinds of things, including ice cream, roses and even helicopters and boats).

It managed to raise a whopping $258 million dollars from investors including Google Ventures, at a $3.5 billion valuation.1 That’s an incredible amount of cash to raise, but, more importantly, the company had to give away only around 7.5 per cent of its equity for that. What drove that incredible Series C was the fact that the company was able to increase its valuation 10x in a period of 18 months. When Uber closed its Series B financing it had a valuation of $330 million.2 That’s an extraordinary achievement for any company, and it’s largely the dogged persistence of CEO Travis Kalanick that’s driven it. The company processed just shy of $1 billion in fares in 2013, delivering top-line revenue of around $200 million. By the beginning of 2014 it was operating in over 60 cities and 26 countries. So, even though the valuation seems high at first, once you dig into the underlying numbers it starts to become a lot more justifiable. More importantly, Uber’s investors appreciate that, in order to stay in the lead, the company needs to capture – and cement – its lead in as many cities and countries as possible as droves of local competitors appear.

Having raised a whopping $258 million in funding in 2013, it is essentially cash-flow-positive, so it doesn’t have any pressing need to go public. And, since it was founded as recently as 2009, there isn’t any investor pressure to get their money back yet. It seems like Uber has more operational goals on its mind for the moment. With more than 1 million riders, the company hopes to roll out its service in the 500 biggest, global cities, according to its CEO Travis Kalanick.30 Wrapping Up There has been a real step change, not only in Silicon Valley but also with entrepreneurs around the world. In 2000, when I graduated from college, the Internet bubble was just beginning to pop and scepticism about technology startups was abundant. It took the better part of a decade for the world to figure out how to build valuable – and durable – Internet companies. The best entrepreneurs have cracked the formula, and now, with more experience under their belts and the massive innovations in technology, platforms, business models and distribution, we are already seeing a new wave of mobile-centric creation.


pages: 245 words: 83,272

Artificial Unintelligence: How Computers Misunderstand the World by Meredith Broussard

1960s counterculture, A Declaration of the Independence of Cyberspace, Ada Lovelace, AI winter, Airbnb, Amazon Web Services, autonomous vehicles, availability heuristic, barriers to entry, Bernie Sanders, bitcoin, Buckminster Fuller, Chris Urmson, Clayton Christensen, cloud computing, cognitive bias, complexity theory, computer vision, crowdsourcing, Danny Hillis, DARPA: Urban Challenge, digital map, disruptive innovation, Donald Trump, Douglas Engelbart, easy for humans, difficult for computers, Electric Kool-Aid Acid Test, Elon Musk, Firefox, gig economy, global supply chain, Google Glasses, Google X / Alphabet X, Hacker Ethic, Jaron Lanier, Jeff Bezos, John von Neumann, Joi Ito, Joseph-Marie Jacquard, life extension, Lyft, Mark Zuckerberg, mass incarceration, Minecraft, minimum viable product, Mother of all demos, move fast and break things, move fast and break things, Nate Silver, natural language processing, PageRank, payday loans, paypal mafia, performance metric, Peter Thiel, price discrimination, Ray Kurzweil, ride hailing / ride sharing, Ross Ulbricht, Saturday Night Live, school choice, self-driving car, Silicon Valley, speech recognition, statistical model, Steve Jobs, Steven Levy, Stewart Brand, Tesla Model S, the High Line, The Signal and the Noise by Nate Silver, theory of mind, Travis Kalanick, Turing test, Uber for X, uber lyft, Watson beat the top human players on Jeopardy!, Whole Earth Catalog, women in the workforce

For example, Minsky liked to tell a story about some friends of his who built an intercontinental ballistic missile (ICBM) in the backyard of a house that once belonged to architect Buckminster Fuller. This attitude, that creating mattered more than convention (or laws), was what people of Minsky’s generation passed on to their students. It shows up later in the behavior of tech CEOs like Travis Kalanick, who in 2017 was ousted from his top position at Uber for (among other things) creating a culture of sexual harassment. Kalanick also had the attitude that laws didn’t matter. He launched Uber in cities worldwide in defiance of local taxi and limousine regulations, created a program called Greyball to help Uber computationally evade sting operations by law enforcement, was captured on camera verbally abusing an Uber driver, and looked the other way when Uber drivers raped passengers.10 According to a blog post by former Uber engineer Susan Fowler, Kalanick’s tech managers were almost cartoonishly incompetent at dealing with the harassment complaints Fowler lodged.

It doesn’t work for city driving. The technology isn’t there yet. At NVIDIA, they found that self-driving car algorithms mess up an average of every ten minutes.” This observation is consistent with the Tesla user’s manual, which states that the Autopilot should only be used for short periods of time on highways under driver supervision. Uber received bad press in 2017 after its then-CEO, Travis Kalanick, was filmed yelling at Uber driver Fawzi Kamal. Kamal had lost $97,000 and said he was bankrupt because of Uber’s business strategy of cutting fares so that drivers make as little as ten dollars per hour. At the time, Kalanick’s net worth was $6.3 billion. Kamal told Kalanick about his struggle. Kalanick replied: “Some people don’t like to take responsibility for their own shit. They blame everything in their life on somebody else.

., 19 Heuristics, 95–96 Hillis, Danny, 73 Hippies, 5, 82 HitchBOT, 69 Hite, William, 58 Hoffman, Brian, 159 Holovaty, Adrian, 45–46 Home Depot, 46, 115, 155 Hooke, Robert, 88 Houghton Mifflin Harcourt (HMH) HP, 157 Hugo, Christoph von, 145 Human-centered design, 147, 177 Human computers, 77–78, 198 Human error, 136–137 Human-in-the-loop systems, 177, 179, 187, 195 Hurst, Alicia, 164 Illinois quarter, 153–154 Imagination, 89–90, 128 Imitation Game, The (film), 74 Information industry, annual pay, 153 Injury mortality, 137 Innovation computational, 25 disruptive, 163, 171 funding, 172–173 hackathons and, 166 Instacart, 171 Intelligence in machine learning Interestingness threshold, 188 International Foundation for Advanced Study, 81 Internet advertising model, 151 browsers, 25, 26 careers, annual pay rates, 153 core values, 150 drug marketplace, 159–160 early development of the, 5, 81 fraud, 153–154 online communities, technolibertarianism in culture of, 82–83 rankings, 72, 150–152 Internet Explorer, 25 Internet pioneers, inspiration for, 5, 81–82 Internet publishing industry, annual pay, 153 Internet search, 72, 150–152 Ito, Joi, 147, 195 Jacquard, Joseph Marie, 76 Java, 89 JavaScript, 89 Jobs, Steve, 25, 70, 72, 80, 81 Jones, Paul Tudor, 187–188 Journalism. See also Data journalism algorithmic accountability reporting, 7, 43–44, 65–66 artificial intelligence for, 52–53 computational, 7, 46–47, 190 computer-assisted reporting, 44–45 machine learning in, 52 precision reporting, 44 social science applied to, 44 Kaggle, 96 Kalanick, Travis, 74, 139 Kamal, Fawzi, 139 Karel the Robot, 129–130 Karpathy, Andrej, 149 Kay, Alan, 25, 72 Ke Jie, 33 Kernighan, Brian, 13 Kesey, Ken, 81 Kilgore, Barney, 152 Kinect, 157 Kleinberg, Jon, 155–156 Krafcik, John, 136, 137 Kroeger, Brooke, 78 Kubrick, Stanley, 71 Kunerth, Jeff, 43 Kurzweil, Raymond, 73, 89, 90 Kushleyev, Alex, 124–125 Language computational communication problems, 87–89 fluidity of, 91 human vs. mathematical, 88 naming problem in, 88–89 Lanier, Jaron, 145–146 Lazer, David, 115 Leadership gender gap, 158 Learning, 89 LeCun, Yann, 90 Lee, Dan, 123 Leibniz, Gottfried, 75, 76, 77 Lench, Heather, 84 Leslie, S.


pages: 472 words: 117,093

Machine, Platform, Crowd: Harnessing Our Digital Future by Andrew McAfee, Erik Brynjolfsson

"Robert Solow", 3D printing, additive manufacturing, AI winter, Airbnb, airline deregulation, airport security, Albert Einstein, Amazon Mechanical Turk, Amazon Web Services, artificial general intelligence, augmented reality, autonomous vehicles, backtesting, barriers to entry, bitcoin, blockchain, British Empire, business cycle, business process, carbon footprint, Cass Sunstein, centralized clearinghouse, Chris Urmson, cloud computing, cognitive bias, commoditize, complexity theory, computer age, creative destruction, crony capitalism, crowdsourcing, cryptocurrency, Daniel Kahneman / Amos Tversky, Dean Kamen, discovery of DNA, disintermediation, disruptive innovation, distributed ledger, double helix, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, Ethereum, ethereum blockchain, everywhere but in the productivity statistics, family office, fiat currency, financial innovation, George Akerlof, global supply chain, Hernando de Soto, hive mind, information asymmetry, Internet of things, inventory management, iterative process, Jean Tirole, Jeff Bezos, jimmy wales, John Markoff, joint-stock company, Joseph Schumpeter, Kickstarter, law of one price, longitudinal study, Lyft, Machine translation of "The spirit is willing, but the flesh is weak." to Russian and back, Marc Andreessen, Mark Zuckerberg, meta analysis, meta-analysis, Mitch Kapor, moral hazard, multi-sided market, Myron Scholes, natural language processing, Network effects, new economy, Norbert Wiener, Oculus Rift, PageRank, pattern recognition, peer-to-peer lending, performance metric, plutocrats, Plutocrats, precision agriculture, prediction markets, pre–internet, price stability, principal–agent problem, Ray Kurzweil, Renaissance Technologies, Richard Stallman, ride hailing / ride sharing, risk tolerance, Ronald Coase, Satoshi Nakamoto, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Skype, slashdot, smart contracts, Snapchat, speech recognition, statistical model, Steve Ballmer, Steve Jobs, Steven Pinker, supply-chain management, TaskRabbit, Ted Nelson, The Market for Lemons, The Nature of the Firm, Thomas Davenport, Thomas L Friedman, too big to fail, transaction costs, transportation-network company, traveling salesman, Travis Kalanick, two-sided market, Uber and Lyft, Uber for X, uber lyft, ubercab, Watson beat the top human players on Jeopardy!, winner-take-all economy, yield management, zero day

200 “So,” the company’s website explains: Uber, “[Our Story],” accessed February 5, 2017, https://www.uber.com/our-story. 200 initially called UberCab: Leena Rao, “UberCab Takes the Hassle Out of Booking a Car Service,” TechCrunch, July 5, 2010, https://techcrunch.com/2010/07/05/ubercab-takes-the-hassle-out-of-booking-a-car-service. 200 “supercrazy freakin’ small”: Fast Company, “Travis Kalanick, the Fall and Spectacular Rise of the Man behind Uber,” South China Morning Post, September 25, 2015, http://www.scmp.com/magazines/post-magazine/article/1860723/travis-kalanick-fall-and-spectacular-rise-man-behind-uber. 200 By late 2010, Kalanick had begun: Ibid. 200 Eighteen months later they launched UberX: Alexia Tsotsis, “Uber Opens Up Platform to Non-limo Vehicles with ‘Uber X,’ Service Will Be 35% Less Expensive,” TechCrunch, July 1, 2012, https://techcrunch.com/2012/07/01/uber-opens-up-platform-to-non-limo-vehicles-with-uber-x-service-will-be-35-less-expensive. 201 UberPool, launched in August of 2014: Alex, “Announcing UberPool,” Uber Newsroom (blog), August 5, 2014, https://newsroom.uber.com/announcing-uberpool. 201 $20 billion in annual gross bookings: James Temperton, “Uber’s 2016 Losses to Top $3bn According to Leaked Financials,” Wired, December 20, 2016, http://www.wired.co.uk/article/uber-finances-losses-driverless-cars. 201 Uber was valued at $68 billion: Andrew Ross Sorkin, “Why Uber Keeps Raising Billions,” New York Times, June 20, 2016, https://www.nytimes.com/2016/06/21/business/dealbook/why-uber-keeps-raising-billions.html. 201 Traditional taxis provided 8.4 million trips: UCLA Labor Center, “Ridesharing or Ridestealing?

. ** Avinash Dixit and Robert Pindyck worked out much of the economics of real-options pricing, building on earlier work by Bob Merton, Myron Scholes, and Fischer Black, among others. See, for example, Avinash K. Dixit and Robert S. Pindyck, Investment under Uncertainty (Princeton, NJ: Princeton University Press, 1994). CHAPTER 9 DO PRODUCTS HAVE A PRAYER? The wise learn many things from their enemies. — Aristophanes, 414 BCE UBER’S URBAN TRANSPORTATION PLATFORM WAS BORN IN Paris in 2008 when Travis Kalanick and Garrett Camp had difficulty hailing a cab. “So,” the company’s website explains, “they came up with a simple idea—tap a button, get a ride.” Their original vision (initially called UberCab) focused only on limos. Early growth was steady but slow. When Camp first suggested that Kalanick should run Uber full-time, Kalanick said no because he felt the opportunity was “supercrazy freakin’ small.”

(TV show), 17 Jeppesen, Lars Bo, 259 Jobs, Steve curation of iPhone platform, 165 Dropbox acquisition offer, 162 and iPhone apps, 151–53, 157, 163 joint-stock company, 320 journalism, See newspapers Joyce, James, 178 judges, parole granted by, 39–40 judgment, human as complement to computer power, 35 in decision-making loop, 53–56 flaws in, 37–42 and justification, 45 “superforecasters” and, 60–61 System 1/System 2 reasoning, 35–46 justification, 45 Kadakia, Payal, 178, 179, 184 Kaggle, 261 Kahneman, Daniel, 35–36, 43, 44, 56, 325 Kalanick, Travis, 200 Kapor, Mitch, 142 Katz, Michael, 141n Kaushik, Avinash, 45 Kay, Alan, 61 Kazaa, 144 Kehoe, Patrick J., 21 Keirstead, Karl, 143 kernel, 240 Keynes, John Maynard, 278–79, 287, 309–10 Khosla, Vinod, 94 Kickstarter, 262 “killer app,” 157 Kim, Pauline, 40–41 Kimberley Process, 289–90 kinases, 116–17 kitchen, automated, 94 Kiva Systems, 103 Klein, Gary, 56 knowledge access to, in second machine age, 18 markets and, 332 prediction markets and, 238 knowledge differentials, See information asymmetries Kodak, 131, 132 Kohavi, Ronny, 45, 51 Kohl’s, 62–63 Koike, Makoto, 79–80 Komatsu, 99 Koum, Jan, 140 Krawisz, Daniel, 304 Kurzweil, Ray, 308 Lakhani, Karim, 252–55, 259 landline telecommunications, 134–35 land title registry, 291 language learning styles, 67–69 Lasker, Edward, 2 Lawee, David, 166 law of one price, 156 Lea, Ed, 170 leadership, geeky, 244–45, 248–49 lead users, 265 LeCun, Yann, 73, 80, 121 ledger, See blockchain Legg, Shane, 71 Lehman, Bastian, 184 Lei Jun, 203 Leimkuhler, John F., 182 “lemons,” 207 Lending Club, 263 level 5 autonomy, 82 leveraging of assets, O2O platforms for, 196–97 Levinovitz, Alan, 3 Levinson, Art, 152 libraries, 229–32 Library of Congress, 231 links, 233 Linq, 290–91 Linux, 240–45, 248, 249, 260 liquidity and network effects, 206 O2O platforms as engines of, 192–96 Livermore, Shaw, 22–23 locking in users, 217 lodging; See also Airbnb differences between Airbnb and hotels, 222–23 Priceline and, 223–24 “Logic Theorist” program, 69 Long, Tim, 204 Los Angeles, California hotel occupancy rates, 221–22 Postmates in, 185 Uber’s effect on taxi service, 201 LTE networks, 96 Luca, Michael, 209n Lyft, 186, 201, 208, 218 Ma, Jack, 7 machine age, See second machine age machine intelligence mind as counterpart to, 15 superiority to System 1 reasoning, 38–41 machine learning, 66–86; See also artificial intelligence AlphaGo and, 73 back-office work and, 82–83 early attempts, 67–74 in Obama’s 2012 presidential campaign, 48–51 O2O business data and, 194 statistical pattern recognition and, 72–74 machine(s); See also artificial intelligence; robotics; standard partnership and business process reengineering, 32–33 and creativity, 110–19 defined, 14 human connection in digitized world, 122–24 human judgment and, 34–45 new mind-machine partnership, 46–62 and uniquely human domains, 110–26 Mad Men (TV drama), 48 Madrigal, Alexis, 295–96 magazines ad revenue (late 1990s), 130 ad revenue (2013), 132–33 new content platforms’ effect on revenue, 139 MakerBot, 273 maker movement, 271–72 Makhijani, Vish, 324–25 malls, 131, 134 Malone, Tom, 311, 313 management/managers continued importance of, 320–23 and economics of the firm, 309 as portion of US workforce, 321 in post-standard partnership world, 323–26 manufacturing electricity’s effect on, 19–24 robotics in, 102 transition from molds to 3D printing, 104–7 Manyika, James, 332 Manzi, Jim, 62–63 Marchant, Jo, 66n Marcus, Gary, 5, 71 marginal costs bundling and, 147 of computer storage, 136 of digital copies, 136, 137 of perishing inventory, 180, 181 of platforms, 137 of platforms vs. products, 147, 220 and Uber’s market value, 219 marginal utility, 258–59 “Market for ‘Lemons,’ The” (Akerlof), 207 market research, 13–14, 261–63 market(s) centrally planned economies vs., 235–37 companies and, 309–11 costs inherent in, 310–11 as crowd, 235–39 information asymmetries and, 206–7 prediction markets, 237–39 production costs vs. coordination costs, 313–14 Markowitz, Henry, 268 Marshall, Matt, 62 Martin, Andrew, 40–41 Marx, Karl, 279 Masaka, Makoto, 79–80 “Mastering the Game of Go with Deep Neural Networks and Tree Search” (Nature article), 4 Maugham, Somerset, 110 Mazzella, Frédéric, 190 McCarthy, John, 67 McClatchy Company, 132 McDonald’s, 92 McElheren, Kristina, 42 McKinsey Global Institute, 332 Mechanical Turk, 260 Medallion Fund, 267 medical devices crowd-designed, 272–75 3D printing and, 106 medical diagnosis, 123–24 Meehl, Paul, 41–42, 53–54, 56, 81 MegaBLAST, 253, 254 Menger, Carl, 25 Men’s Fitness, 132 Merton, Robert K., 189 Metallica, 144 Microsoft core capabilities, 15 machine learning, 79 proprietary software, 240 as stack, 295 Windows Phone platform, 167–68 Microsoft Research, 84 Milgrom, Paul, 315n milking systems, 101 Mims, Christopher, 325 mind, human as counterpart to machine intelligence, 15 undetected biases in, 42–45 Minsky, Marvin, 73, 113 Mitchell, Alan, 11, 12 MIT Media Lab, 272 mobile telephones, 129–30, 134–35 Mocan, Naci, 40 molds, 104–5 Moley Robotics, 94 Momentum Machines, 94 Moody’s, 134 Moore, John, 315 Moore’s law, 308 and Cambrian Explosion of robotics, 97–98 defined, 35 neural networks and, 75 System 2 reasoning and, 46 and 3D printing, 107 Morozov, Evgeny, 297 Mt.


pages: 499 words: 144,278

Coders: The Making of a New Tribe and the Remaking of the World by Clive Thompson

2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 4chan, 8-hour work day, Ada Lovelace, AI winter, Airbnb, Amazon Web Services, Asperger Syndrome, augmented reality, Ayatollah Khomeini, barriers to entry, basic income, Bernie Sanders, bitcoin, blockchain, blue-collar work, Brewster Kahle, Brian Krebs, Broken windows theory, call centre, cellular automata, Chelsea Manning, clean water, cloud computing, cognitive dissonance, computer vision, Conway's Game of Life, crowdsourcing, cryptocurrency, Danny Hillis, David Heinemeier Hansson, don't be evil, don't repeat yourself, Donald Trump, dumpster diving, Edward Snowden, Elon Musk, Erik Brynjolfsson, Ernest Rutherford, Ethereum, ethereum blockchain, Firefox, Frederick Winslow Taylor, game design, glass ceiling, Golden Gate Park, Google Hangouts, Google X / Alphabet X, Grace Hopper, Guido van Rossum, Hacker Ethic, HyperCard, illegal immigration, ImageNet competition, Internet Archive, Internet of things, Jane Jacobs, John Markoff, Jony Ive, Julian Assange, Kickstarter, Larry Wall, lone genius, Lyft, Marc Andreessen, Mark Shuttleworth, Mark Zuckerberg, Menlo Park, microservices, Minecraft, move fast and break things, move fast and break things, Nate Silver, Network effects, neurotypical, Nicholas Carr, Oculus Rift, PageRank, pattern recognition, Paul Graham, paypal mafia, Peter Thiel, pink-collar, planetary scale, profit motive, ransomware, recommendation engine, Richard Stallman, ride hailing / ride sharing, Rubik’s Cube, Ruby on Rails, Sam Altman, Satoshi Nakamoto, Saturday Night Live, self-driving car, side project, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, single-payer health, Skype, smart contracts, Snapchat, social software, software is eating the world, sorting algorithm, South of Market, San Francisco, speech recognition, Steve Wozniak, Steven Levy, TaskRabbit, the High Line, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, universal basic income, urban planning, Wall-E, Watson beat the top human players on Jeopardy!, WikiLeaks, women in the workforce, Y Combinator, Zimmermann PGP, éminence grise

after a female journalist: Sarah Lacy, “Uber Executive Said the Company Would Spend ‘A Million Dollars’ to Shut Me Up,” Time, November 14, 2017, accessed August 19, 2018, http://time.com/5023287/uber-threatened-journalist-sarah-lacy. he calls it “Boob-er”: Mickey Rapkin, “Uber Cab Confessions,” GQ, February 27, 2014, accessed August 19, 2018, www.gq.com/story/uber-cab-confessions. had been forced out: Mike Isaac, “Uber Founder Travis Kalanick Resigns as C.E.O.,” New York Times, June 21, 2017, accessed August 19, 2018, https://www.nytimes.com/2017/06/21/technology/uber-ceo-travis-kalanick.html. Chris Sacca and Justin Caldbeck: Sage Lazzaro, “6 Women Accuse Prominent Tech VC Justin Caldbeck of Sexual Assault and Harassment,” Observer, June 23, 2017, accessed August 19, 2018, http://observer.com/2017/06/justin-caldbeck-binary-capital-sexual-assault-harssment; Becky Peterson, “ ‘Shark Tank’ Judge Chris Sacca Apologizes for Helping Make Tech Hostile to Women—after Being Accused of Inappropriately Touching a Female Investor,” Business Insider, June 30, 2017, accessed August 19, 2018, https://www.businessinsider.com/chris-sacca-apologizes-after-accusation-of-inappropriate-touching-2017-6; “Dave McClure Quits 500 Startups over Sexual Harassment Scandal,” Reuters, July 4, 2017, accessed August 19, 2018, http://fortune.com/2017/07/03/dave-mcclure-500-startups-quits; Maya Kosoff, “Silicon Valley’s Sexual-harassment Crisis Keeps Getting Worse,” Vanity Fair, September 12, 2017, accessed August 19, 2018, https://www.vanityfair.com/news/2017/09/silicon-valleys-sexual-harassment-crisis-keeps-getting-worse.

It’s partly because some iconic tech CEOs espouse libertarian stances so stark they practically come off as cat-stroking Bond villains. Peter Thiel, perhaps the best-known example of this phenomenon, is a man so committed to his loathing of “confiscatory taxes” that he once explored the possibility of “seasteading”—creating a floating city beyond the reach of the weary giants of flesh and steel. He’s also proclaimed, “I no longer believe that freedom and democracy are compatible.” Then there’s Uber’s former CEO Travis Kalanick, who once argued on the question-answering section of the site Mahalo that California is a sorry ethical morass of moochers living off the spoils of the affluent. “One of the interesting stats I came across was that 50 percent of all California taxes are paid by 141,000 people (a state with 30mm inhabitants). This hit home as I had recently finished Atlas Shrugged. If 141,000 affluent people in CA went ‘on strike,’ CA would be done for . . . another reason you can’t keep increasing taxes to pay for unaccountable gov’t programs that offer poor services.”

She wrote her story up on the blog post, but, hey: Another blog post complaining about sexism in the valley? What impact could that have? A huge one, it turns out. Uber’s board had already been hit with years of bad press about its employees’ behavior. Employees had used a “God View” internal mapping tool to help ex-boyfriends stalk their ex-girlfriends; a senior executive had threatened to send private investigators after a female journalist. Then CEO Travis Kalanick had crowed about how he’d gotten so much sexual attention from Uber that he calls it “Boob-er.” Fowler’s story—so carefully documented, with so much official malfeasance by HR—seemed like a particularly humiliating piece of news, and it was the straw that broke the camel’s back. In a few short months, Kalanick had been forced out. And almost as if a cracking of the ice had begun, over the next few months, female coders and entrepreneurs told stories of prominent investors harassing and propositioning them, including Dave McClure, founder of 500 Startups, and venture capitalists Chris Sacca and Justin Caldbeck.


Falter: Has the Human Game Begun to Play Itself Out? by Bill McKibben

23andMe, Affordable Care Act / Obamacare, Airbnb, American Legislative Exchange Council, Anne Wojcicki, artificial general intelligence, Bernie Sanders, Bill Joy: nanobots, Burning Man, call centre, carbon footprint, Charles Lindbergh, clean water, Colonization of Mars, computer vision, David Attenborough, Donald Trump, double helix, Edward Snowden, Elon Musk, ending welfare as we know it, energy transition, Flynn Effect, Google Earth, Hyperloop, impulse control, income inequality, Intergovernmental Panel on Climate Change (IPCC), Jane Jacobs, Jaron Lanier, Jeff Bezos, job automation, life extension, light touch regulation, Mark Zuckerberg, mass immigration, megacity, Menlo Park, moral hazard, Naomi Klein, Nelson Mandela, obamacare, off grid, oil shale / tar sands, pattern recognition, Peter Thiel, plutocrats, Plutocrats, profit motive, Ralph Waldo Emerson, Ray Kurzweil, Robert Mercer, Ronald Reagan, Sam Altman, self-driving car, Silicon Valley, Silicon Valley startup, smart meter, Snapchat, stem cell, Stephen Hawking, Steve Jobs, Steve Wozniak, Steven Pinker, strong AI, supervolcano, technoutopianism, The Wealth of Nations by Adam Smith, traffic fines, Travis Kalanick, urban sprawl, Watson beat the top human players on Jeopardy!, Y Combinator, Y2K, yield curve

Vanity Fair, in 2016, declared that Ayn Rand was “perhaps the most influential figure in the tech industry.” Steve Wozniak (cofounder of Apple) said that Steve Jobs (deity) considered Atlas Shrugged one of his guides in life.3 Elon Musk (also a deity, and straight out of a Rand novel, with his rockets and hyperloops and wild cars) says Rand “has a fairly extreme set of views, but she has some good points in there.”4 That’s as faint as the praise gets. Travis Kalanick, who founded Uber, used the cover of The Fountainhead as his Twitter avatar. Peter Thiel, a cofounder of PayPal and an early investor in Facebook, once launched a mission to develop a floating city, a “sea-stead” that would be a politically autonomous city-state where national governments would have no sway.5 Some of Silicon Valley’s antigovernment sentiment is old, or at least as old as anything can be in Silicon Valley.

Harriet Rubin, “Fifty Years On, ‘Atlas Shrugged’ Still Has Its Fans—Especially in Business,” New York Times, September 17, 2007. 6. Freedland, “New Age of Ayn Rand.” 7. Rachel Weiner, “Paul Ryan and Ayn Rand,” Washington Post, August 13, 2012. 8. Husna Haq, “Paul Ryan Does an About-Face on Ayn Rand,” Christian Science Monitor, August 14, 2012. 9. Robert James Bidinotto, “Celebrity Ayn Rand Fans,” atlassociety.org, January 1, 2006. 10. James B. Stewart, “As a Guru, Ayn Rand May Have Her Limits. Ask Travis Kalanick,” New York Times, July 13, 2017. 11. Kirsten Powers, “Donald Trump’s Kinder, Gentler Version,” USA Today, April 11, 2016. 12. Wendy Milling, “President Obama Jabs at Ayn Rand, Knocks Himself Out,” Forbes, October 30, 2012. 13. Jennifer Burns, Goddess of the Market: Ayn Rand and the American Right (New York: Oxford University Press, 2009), p. 23. 14. Thomas E. Ricks, Churchill and Orwell: The Fight for Freedom (New York: Penguin Press, 2017), p. 8 (emphasis added). 15.

See also glaciers; sea ice iGen immune systems Inconvenient Truth, An (film) Inconvenient Truth … or Convenient Fiction, An (film) India individualism Indonesia inequality inertia infant mortality Ingraffea, Tony insects InsideClimateNews (website) Institute for Justice Intel Intergovernmental Panel on Climate Change (IPCC) Interior, Department of the International Congress of Genetics, Sixteenth International Organization for Migration International Space Station internet Inuit Iowa IQ scores Iran Iraq Ireland irrigation Italy IVF treatment Jackson, Jesse Jacobs, Jane Jacobson, Mark Jaeger, John Jakarta Japan Java Sea jellyfish Jenner, Kylie Jeopardy! (TV show) Jetnil-Kijiner, Kathy Jobs, Steve John Birch Society Johnson, Lyndon B. Journal of Mathematical Biology Journal of Physical Therapy Science Joy, Bill Joyce, James Kac, Eduardo Kaepernick, Colin Kalanick, Travis Kansas Kasparov, Gary Kavanaugh, Brett Kempf, Hervé Kennedy, John F. Kennedy Space Center Kepler (satellite) Kerry, James Kerry, John Keynes, John Maynard Keystone XL Pipeline King, Martin Luther, Jr. King of Kings (film) king tides Klein, Naomi Knoepfler, Paul Koch, Charles Koch, Charles G., Foundation Koch, David Koch, Elizabeth Koch, Fred Koch, Frederick, Jr. Koch, Mary Koch, William “Bill” Kodas, Michael Kona Korea Krueger, Alan Kumkum Bhagya (soap opera) Kurzweil, Fredric Kurzweil, Ray Kyoto Protocol labor law labor unions Lahore, Pakistan laissez-faire Lanier, Jaron Las Vegas lead poisoning Leap Manifesto Lear, Norman Leary, Timothy Lee, Kai-fu LeFevre, Robert leukemia leverage Lewis, Seko Serge Lexington, Battle of libertarianism Libertarian Party life expectancy lightning strikes limestone limits Limits to Growth, The (Meadows) Lindbergh, Charles lobster fisheries Locklear, Samuel Lomé, Togo London Los Angeles Los Angeles Times Louisiana Lovelock, James Lowndes County, Alabama Luntz, Frank Lyme disease Machine Intelligence Research Institute MacLean, Nancy Maduro malaria Mallory, George Maltese Falcon (yacht) Mann, Michael Manson, Charles manufacturing MAOA gene variant marine species Maris, Bill markets marlin Mars Marsh, George Perkins Marshall Islands mass extinctions Matchright maturity Mauryan Empire Mayans Mayer, Jane McArthur Forest Fire Danger Index McCain, John Medicaid Medicare Megafire (Kodas) Mehlman, Maxwell Mekong Delta meltwater pulse 1A Mercer, Robert Merkle, Ralph Merritt Island Wildlife Refuge methane Mexico Miami Beach Microsoft migration Mill, John Stuart Miller, Dean Milner, Yuri Milosevic, Slobodan Minsky, Marvin Mises, Ludwig von Mississippi Delta MIT Technology Review Mongolia Monsanto Montgomery Bus Boycott Mont Pelerin movement Montreal Montreal Protocol More, Max mortality Moses, Robert Mount Kenya MSTN gene Muir, John Mumbai Murdoch, Rupert Musk, Elon Nabokov, Vladimir nanobot blood cells National Academy of Medicine National Academy of Sciences National Aeronautics and Space Administration (NASA) National Cancer Institute National Coal Association National Energy Policy Act (proposed) National Geographic National Governors Association National Journal National Oceanic and Atmospheric Administration (NOAA) national parks and monuments Native Americans natural gas Nature Nawabshah, Pakistan Nazi Germany Nectome neoliberalism Neolithic period Nepal Netherlands New Deal NewsCorp New York New Yorker New York Times Magazine Nietzsche, Friedrich Niviana, Aka Nixon, Richard Nokia nonviolence North America North American Free Trade Agreement (NAFTA) North Carolina North Korea Norway Novartis nuclear power Nuclear Test Ban Treaty nuclear weapons nutrition Obama, Barack Obamacare Objectivist oceans.


pages: 364 words: 99,897

The Industries of the Future by Alec Ross

23andMe, 3D printing, Airbnb, algorithmic trading, AltaVista, Anne Wojcicki, autonomous vehicles, banking crisis, barriers to entry, Bernie Madoff, bioinformatics, bitcoin, blockchain, Brian Krebs, British Empire, business intelligence, call centre, carbon footprint, cloud computing, collaborative consumption, connected car, corporate governance, Credit Default Swap, cryptocurrency, David Brooks, disintermediation, Dissolution of the Soviet Union, distributed ledger, Edward Glaeser, Edward Snowden, en.wikipedia.org, Erik Brynjolfsson, fiat currency, future of work, global supply chain, Google X / Alphabet X, industrial robot, Internet of things, invention of the printing press, Jaron Lanier, Jeff Bezos, job automation, John Markoff, Joi Ito, Kickstarter, knowledge economy, knowledge worker, lifelogging, litecoin, M-Pesa, Marc Andreessen, Mark Zuckerberg, Mikhail Gorbachev, mobile money, money: store of value / unit of account / medium of exchange, Nelson Mandela, new economy, offshore financial centre, open economy, Parag Khanna, paypal mafia, peer-to-peer, peer-to-peer lending, personalized medicine, Peter Thiel, precision agriculture, pre–internet, RAND corporation, Ray Kurzweil, recommendation engine, ride hailing / ride sharing, Rubik’s Cube, Satoshi Nakamoto, selective serotonin reuptake inhibitor (SSRI), self-driving car, sharing economy, Silicon Valley, Silicon Valley startup, Skype, smart cities, social graph, software as a service, special economic zone, supply-chain management, supply-chain management software, technoutopianism, The Future of Employment, Travis Kalanick, underbanked, Vernor Vinge, Watson beat the top human players on Jeopardy!, women in the workforce, Y Combinator, young professional

Brian and Joe didn’t share their spare air mattresses; they rented them out. To the extent that there is an underlying ideology, it is not about sharing or creating community around the breakfast table; it is the economic theory of neoliberalism, encouraging the free flow of goods and services in a market without government regulation. One company that seems to recognize the sharing economy has nothing to do with sharing is Uber. Founded in 2009 by Travis Kalanick and Garrett Camp and also based in San Francisco, Uber provides travel and logistics in more than 250 cities in 58 countries as of June 2015. Uber’s first tagline was “Everyone’s Private Driver,” but as the company has expanded, it has changed its motto to “Where Lifestyle Meets Logistics.” The impact of Uber will likely spread far beyond your nightly ride home; it has implications for business models across transport and logistics globally.

At last measure, the estimated size: Sarah Cannon and Lawrence H. Summers, “How Uber and the Sharing Economy Can Win Over Regulators,” Harvard Business Review, October 13, 2014, https://hbr.org/2014/10/how-uber-and-the-sharing-economy-can-win-over-regulators/; TX Zhuo, “Airbnb and Uber Are Just the Beginning: What’s Next for the Sharing Economy,” Entrepreneur, March 25, 2015, http://www.entrepreneur.com/article/244192. Founded in 2009 by Travis Kalanick: Cities, Uber, https://www.uber.com/cities. Uber’s first tagline was: Kevin Roose, “Uber Might Be More Valuable Than Facebook Someday. Here’s Why,” New York Magazine, December 6, 2013, http://nymag.com/daily/intelligencer/2013/12/uber-might-be-more-valuable-than-facebook.html. Uber is developing a ride-sharing: “The City of the Future: One Million Fewer Cars on the Road,” Uber Newsroom, October 3, 2014, http://blog.uber.com/city-future.

See also Estonia inBloom, 176 India: agriculture and, 165 caregiving and, 230 China and, 219–22 data and, 191 economy, 4–5, 11, 216, 248 globalization and, 11, 85, 198, 211, 214, 219–22, 233, 239 innovation and, 5, 68 labor and, 2, 7, 9–10 robotics and, 20, 211 industrial espionage, 128–29, 138, 145 inflation, 205–6 Infoseek, 119 Innovation Endeavors, 191 international finance flows, 87 International Human Genome Sequencing Consortium, 48 Internet of Things, 132–34, 137, 144–46 Israel, 26, 76, 122, 127–28, 189, 191 Ito, Joi, 116 jellyfish, 35 Johns Hopkins, 48–50, 54–55, 135, 188 Johnson & Johnson, 33 Johnson, Jeremy, 234, 239 JPMorgan Chase, 144, 167, 170 Juniper Networks, 20–21, 132 Kagame, Paul, 238 Kahumbu, Su, 235–36 Kalanick, Travis, 92. See also Uber Karp, Alex, 172–73 Karpeles, Mark, 109 Kaspersky Lab, 189 Kenya, 71, 86, 88, 233, 235, 241–43 Keynes, John Maynard, 111 Khan, Shakil, 167. See also Bitcoin Khosla, Vinod, 72 Kim Jong Un, 131 Koum, Jan, 212–14 Krugman, Paul, 111 Kuffner, James, 23 Laar, Mart, 205–6. See also Estonia Lagos, 86 Lander, Eric, 48, 55 laser technology, 3, 43 Leeds Equity, 106 leukemia, 34, 44–45.


The New Map: Energy, Climate, and the Clash of Nations by Daniel Yergin

3D printing, 9 dash line, activist fund / activist shareholder / activist investor, addicted to oil, Admiral Zheng, Albert Einstein, American energy revolution, Asian financial crisis, autonomous vehicles, Ayatollah Khomeini, Bakken shale, Bernie Sanders, BRICs, British Empire, coronavirus, COVID-19, Covid-19, decarbonisation, Deng Xiaoping, disruptive innovation, distributed generation, Donald Trump, Edward Snowden, Elon Musk, energy security, energy transition, failed state, gig economy, global pandemic, global supply chain, hydraulic fracturing, Indoor air pollution, Intergovernmental Panel on Climate Change (IPCC), inventory management, James Watt: steam engine, Kickstarter, LNG terminal, Lyft, Malacca Straits, Malcom McLean invented shipping containers, Masdar, mass incarceration, megacity, Mikhail Gorbachev, mutually assured destruction, new economy, off grid, oil rush, oil shale / tar sands, oil shock, open economy, paypal mafia, peak oil, pension reform, price mechanism, purchasing power parity, RAND corporation, rent-seeking, ride hailing / ride sharing, Ronald Reagan, self-driving car, Silicon Valley, smart cities, South China Sea, sovereign wealth fund, supply-chain management, trade route, Travis Kalanick, Uber and Lyft, uber lyft, ubercab, UNCLOS, UNCLOS, uranium enrichment, women in the workforce

The optimistic case was “market leader” and a “billion dollars in revenue.” The realistic—5 percent of taxi business in the top five U.S. cities and $20 to $30 million profit. Worst case? “Remains a 10-car, 100 client service” in San Francisco offering a “time-saver for San Francisco based executives.” And next step? “Buy 3 cars” and “raise a few million.”1 One night the following December, Camp was in Paris with Travis Kalanick. The City of Lights was shut down by a big snowstorm. The bars and bistros closed, and even the taxicab drivers went home. With nothing else to do, Camp and Kalanick trudged to the Eiffel Tower and rode up to the top. There, for the next two hours, they talked through their idea for ride hailing—the algorithm would become the outstretched arm. * * * — After dropping out of college several years earlier, Kalanick had founded one failed start-up and another that had modestly succeeded.

“But they’re going to have multiple ways to do that.” Her goal is “zero emissions, zero crashes, and zero congestion.” Sebastian Thrun and his team celebrate victory by “Stanley,” their self-driving Volkswagen, over 132 miles of Nevada desert in the 2005 Grand Challenge. “The first time ever,” said Thrun, “that the machine made all the decisions.” Garrett Camp and Travis Kalanick rode up the Eiffel Tower during a Paris snowstorm and hammered out the idea for a “better cab”—a ride-hailing company based on the smartphone. It would become Uber. Bill Ford, executive chairman of Ford Motor Company, stands next to a Model T built by his great-grandfather at the one-hundredth anniversary of the company. “I’d like Ford to be around another one hundred years,” he says.

Marco della Cava, “Garage Startup Uses Deep Learning to Teach Cars to Drive,” USA Today, August 30, 2016. Chapter 39: Hailing the Future 1. Interview with Garrett Camp; “UberCab” pitch deck, December 2008. 2. Adam Lashinsky, Wild Ride: Inside Uber’s Quest for World Domination (New York: Portfolio/Penguin, 2017), pp. 80–81, 91. 3. Megan Rose Dickey, “Lyft’s Rides Are So Social,” Business Insider, March 16, 2014; Travis Kalanick, Uber Policy White Paper, “Principled Innovation: Addressing the Regulatory Ambiguity,” April 12, 2013 (“compete”). 4. “Didi Chuxing’s Founder Cheng Wei,” Times of India, August 8, 2016. 5. Interview with Jean Liu. 6. Mike Isaacs, Super Pumped: The Battle for Uber (New York: W. W. Norton, 2019), chapters 27–30; Farhad Manjoo, “Uber’s Lesson,” New York Times, June 21, 2017; Anita Balakrishnan, “Here’s the Full 13-Page Report of Recommendations for Uber,” CNBC, June 13, 2017.


pages: 421 words: 110,406

Platform Revolution: How Networked Markets Are Transforming the Economy--And How to Make Them Work for You by Sangeet Paul Choudary, Marshall W. van Alstyne, Geoffrey G. Parker

3D printing, Affordable Care Act / Obamacare, Airbnb, Alvin Roth, Amazon Mechanical Turk, Amazon Web Services, Andrei Shleifer, Apple's 1984 Super Bowl advert, autonomous vehicles, barriers to entry, big data - Walmart - Pop Tarts, bitcoin, blockchain, business cycle, business process, buy low sell high, chief data officer, Chuck Templeton: OpenTable:, clean water, cloud computing, connected car, corporate governance, crowdsourcing, data acquisition, data is the new oil, digital map, discounted cash flows, disintermediation, Edward Glaeser, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, financial innovation, Haber-Bosch Process, High speed trading, information asymmetry, Internet of things, inventory management, invisible hand, Jean Tirole, Jeff Bezos, jimmy wales, John Markoff, Khan Academy, Kickstarter, Lean Startup, Lyft, Marc Andreessen, market design, Metcalfe’s law, multi-sided market, Network effects, new economy, payday loans, peer-to-peer lending, Peter Thiel, pets.com, pre–internet, price mechanism, recommendation engine, RFID, Richard Stallman, ride hailing / ride sharing, Robert Metcalfe, Ronald Coase, Satoshi Nakamoto, self-driving car, shareholder value, sharing economy, side project, Silicon Valley, Skype, smart contracts, smart grid, Snapchat, software is eating the world, Steve Jobs, TaskRabbit, The Chicago School, the payments system, Tim Cook: Apple, transaction costs, Travis Kalanick, two-sided market, Uber and Lyft, Uber for X, uber lyft, winner-take-all economy, zero-sum game, Zipcar

However, network effects can also be negative, and in this chapter we’ll explain how and why negative network effects arise and what platform business managers can do about them. But understanding value creation via positive network effects is the essential first step. FIGURE 2.1. David Sacks’s napkin sketch of Uber’s virtuous cycle. Reprinted by permission. Gurley’s data showed that, by mid-2014, network effects were already beginning to drive Uber’s growth. When Travis Kalanick, CEO of Uber, sought seed funding in 2009, the size of the taxi and limousine market in Uber’s hometown of San Francisco was $120 million. Based on Uber’s own data, the market in 2014 appeared already to be three times as large and still growing. This threefold multiple would, all by itself, justify increasing Damodaran’s $5.9 billion valuation to the $17 billion value imputed by investors.

Combining the platform model with another technology that is rapidly moving from the drawing board to the showroom—the self-driving car—will improve Uber’s already stellar economic model and could lead to a series of cascading impacts that extend beyond the taxi industry. One futurist foresees a time when millions of people will eschew car ownership altogether, instead relying on an instantly deployable fleet of driverless Uber vehicles to take them wherever they want to go at a cost of around fifty cents per mile. Uber cofounder and CEO Travis Kalanick comments, “We want to get to the point that using Uber is cheaper than owning a car.” The ultimate promise: “Transportation that’s as reliable as running water.”3 The implications are startling. The major automakers would be devastated by the shrinkage of their market. So would ancillary businesses such as auto insurance, car finance, and parking. On the other hand, the sudden decrease in demand for parking places (since driverless cars can be in virtually continual use) will free up tens of millions of square feet of real estate for development, liberate lanes on practically every city street, and drastically reduce the pollution and congestion caused by drivers cruising the streets in search of a parking spot.

., 19 Fortune 500, 65 Foursquare, 97, 98 fragmented industries, 131, 262, 265, 268–69, 289 fraud, 175, 196–97, 255, 257, 276 Free: The Future of a Radical Price (Anderson), 22 freelancers (independent contractors), 21, 36, 37, 64, 65, 117–18, 193–94, 196, 210, 213, 233–34, 249–51, 279, 280, 287, 297, 299 free trade, 205, 206, 235 Friedersdorf, Conor, 236 Friendster, 98 FuelBand, 74, 75 full-time employees, 249–50 FUSE Labs, 252–53 games, gaming, 94, 103, 124, 132, 159, 163, 178, 211, 212, 217, 221, 240 “Gangnam Style,” 84, 147 gatekeepers, 7–8, 151–52, 171–73, 243, 253, 262, 265, 268, 275–76, 281, 289, 298 Gawer, Annabelle, 58, 178–79 Gebbia, Joe, 1–2 General Electric (GE), 4, 13, 19, 76, 78, 86, 110, 201, 204, 208, 247, 284 Generally Accepted Accounting Principles, 238–39 geographic focus, 98–99, 271 Germany, 96–97, 161, 205 Gillette, King, 109–10 Global 500, 209–10 Go-Jek, 278 Goldberg, Whoopi, 23 Goodwin, Tom, 11–12 Google, vii, 3–7, 21–25, 30–33, 49–50, 55, 58, 64, 72, 111, 112, 120, 121, 125, 134, 137, 140–41, 148, 153–54, 159, 198–99, 214–17, 226, 240, 242, 250, 267, 270–71 Google AdWords, 72, 120, 121, 125 Google Maps, 49–50, 55, 148, 200 Google Play, 154 government platforms, 261, 281–83, 289 graphical processing units (GPUs), 56, 57, 58 graphic design, 67, 226 Great Britain, 160, 205 gross domestic product (GDP), 160, 161 Grossman, Nick, 253, 254, 255, 256 Guardian, 144–45 Gurley, Bill, 16–18, 21 Haber-Bosch process, 19 Hachette Book Group, 251 Haier Group, vii, 76, 125, 198–99, 222 Halo, 94, 240 Halo: Combat Evolved, 94 Hammurabi, Code of, 274 hard drives (HDs), 56, 57, 58 hardware, 56, 57–58, 136, 152–53, 178–79 Harvard University, 98–99, 266 hashtags, 58, 104 Havas Media, 11–12 health care, 32–33, 35, 69, 71, 77, 200, 233, 234, 238, 245, 261, 263, 265, 268–72, 277, 280, 289 health insurance, 234, 263, 271–72, 277, 280 Heiferman, Scott, 113–14, 126 heirlooms, 161–62 Here, 49–50 Hertz, 9 heuristics, 123–24 Hilton Hotels, 8, 64 Hipstamatic, 100 homeowners’ insurance, 175, 232 horizontal integration, 33, 74–76, 208 hospitals, 69, 71, 233, 270, 271–72 hosting sites, 88, 198, 223–24 hotel industry, 1–2, 8–9, 10, 12, 64, 67, 101, 111, 142–43, 198, 224, 229–33, 236, 253, 287 Hotmail, 103, 104 Houghton Mifflin Harcourt, 204, 208, 225 HTTP, 177 Huffington Post, 90 human resources, 14, 39 human rights, 159, 160–61 hypercompetition, 209–10, 213 IBM, x, 137, 152, 179, 284 iCloud, 75 identity theft, 244 InCloudCounsel, 279 income streams, 139–41, 143, 144, 215 India, 73, 91 Indiegogo, 96, 124 Indonesia, 278 Industrial Awakening, 285–86 industrial development, 205–10, 224–25, 268 industrial-era firms, 19, 32, 34, 256, 285, 288 Industrial Revolution, 288 Industry Standard Architecture (ISA), 58 information, 40, 42 agencies for, 243–44 age of, 253, 256, 260 asymmetries of, 161–62, 164, 181, 182, 220, 228, 258–59, 262–63, 265, 269, 281, 289 exchange of, 36, 37, 39, 41, 47–48, 51, 134 intensive need for, 262–63, 265, 268, 281, 289 mis-, 129–30 platforms for, 190, 200, 287 units of, 296–97 initial public offerings (IPOs), ix, 91, 204–5 Instagram, 3, 13, 32, 46, 47, 66, 85, 100, 102–3, 104, 204, 217, 218, 299 instant messaging, 131, 198, 211 insurance industry, 9, 62, 71, 142, 164, 175–76, 232, 268, 277 integrated systems, 33, 74, 131 Intel, vii, x, 57–58, 89, 137, 178–81, 270–71, 284 Intel Architecture Labs (IAL), 179–81 intellectual property (IP), 33, 57, 167, 174–75, 180, 258 interaction failures, 190, 192, 196–97 Interbrand, 198–99 interest rates, 170, 244, 276 Internal Revenue Service (IRS), 93 internal transparency, 176–79 International Financial Reporting Standards, 238–39 Internet, 24–25, 32, 60–63, 76–79, 95–96, 107–13, 121, 167, 201, 204, 205, 209, 244, 249, 250, 263, 264, 283–89, 299 Internet of things, 76, 201, 204, 283–86, 289 inventory, 9, 11–12, 25, 42, 141, 184, 186, 262 investment, ix, 16, 63, 164, 168–69, 184–86, 209, 278 iPads, 95 iPhone, 3, 6–7, 72, 131, 140, 147, 148, 178, 211, 213–14, 222 iStockphoto, 167–68, 173 iTunes, 75, 131, 142, 153, 164, 214, 231 Japan, 66, 205–6 Jassy, Andrew, 177–78 Java programming language, 140 Jawbone, x, 77, 245 job listings, 39, 49, 50, 51, 63, 111, 118–19, 120, 131, 133–34, 137, 184–86, 196, 201, 218 Jobs, Steve, viii, 53, 131, 214 joint venture model, 137, 138 judiciary, 237, 238, 250 JVC, 138–39 Kalanick, Travis, 18, 62 Kelley, Brian P., 157 Kenya, 277–78 Kercher, Meredith, 129–30, 149–50 Keurig Green Mountain, 143, 157–58, 159, 181 Kickstarter, 40, 92, 96, 102, 111 Kindle, 7, 10, 67, 140, 154, 243 Kindle Fire, 140 Knox, Amanda, 129–30, 149–50 Korengold, Barry, 61 Kozmo, 22–23 Kretschmer, Tobias, 257 Kuraitis, Vince, 270, 271 labor: child, 164 division of, 280 market for, 39, 49, 50, 51, 63, 111, 118–19, 120, 131, 133–34, 137, 196, 201, 218, 235 platforms for, 200, 201, 213, 233–34, 248–51, 279–81, 289 regulation of, 230, 249–51, 260, 288 self-employed, 21, 36, 37, 64, 65, 117–18, 193–94, 196, 210, 213, 233–34, 249–51, 279, 280, 287, 297, 299 unions for, 280, 288 Laffont, Jean-Jacques, 235, 237 law firms, 8, 204, 279 laws and legal systems, 88, 164–70, 182, 230, 247–49, 257, 258, 260, 281 lead generation, 113, 117 Lean Analytics (Croll and Yoskovitz), 191, 196 lean startups, 199, 201–2 Lee Kuan Yew, 160–61 LegalZoom, 204, 225 Lending Club, 77, 275, 276 Lessig, Lawrence, 164–65, 166 Levchin, Max, 79–81 Lexis, 204, 225 liability coverage, 175, 232 libertarianism, 79, 80, 236, 238 licensing fees, 61, 131, 258–59 licensing model, 136–37, 138, 139, 214, 235, 296 lightbulbs, 284–85 linear value chains (pipelines), 6, 183–84, 297, 298 LinkedIn, 39, 41–42, 48, 50–51, 103, 111, 119, 170, 173, 184, 197, 218–19, 223, 226, 245 Linux, 137, 138, 154, 200 liquidity, 189–91, 193, 194–95, 201–2, 297 local content regulations, 246–47 logos (icons), 82, 83 “long tail” (software adoption), 216–17, 219 Lyft, 49, 50–51, 67, 213, 227, 250–51, 297 Ma, Jack, 125, 206, 215 MacCormack, Alan, 57 magazines, 72, 151, 197, 244, 264, 275 magnetic resonance imaging (MRI), 69, 71 mail, 63, 94–95, 171 MailChimp, 109 Malaysia, 160 Management Science (MacCormack and Baldwin), 57 mandis (market-makers), 42–44 Manghani, Ravi, 273–74 manufacturing efficiencies, 208, 209, 261 MapMyFitness, 75 mapping services, 49–50, 55, 148, 200 marginal economics, 72, 78 Marini, Rick, 184–85 marketing, 14, 19, 25, 52–53, 72, 73–74, 84–85, 100, 101, 105, 183–84, 209–10, 267 Marketplace Fairness Act (2013), 249 marketplaces, 60, 91, 190, 204, 249 markets: access to, 87–88, 98, 194, 215, 218, 220 aggregation of, 68–69, 72–73, 78, 262, 297 controls for, 164–65 data on, 42–44 emerging, 210–11 entry barriers to, 207–8, 215, 219–20 expansion of, 4, 20, 31–32 failure of, xiii, 161–63, 164, 170–71, 182, 234–35, 256, 257, 258–59, 263, 289 free, 149, 161–65, 173–76, 180, 182, 234–36 frictionless entry into, 25–26, 34, 81, 107–8, 111, 117, 124–25, 130, 168, 206, 297 incumbent advantage in, 86, 218, 261, 263 late-mover problem in, 87–88, 98 liquidity of, 171, 196 local, 70–71, 117–18, 264 manipulation of, 238, 251–53, 260, 287 micro-, 98–99, 105 multi-sided, 159, 164 new entrants to, 207–10, 262, 296 niche, 88, 216, 223–24, 228, 300 one-sided, 157–58, 159 share of, 16–22, 33, 53, 60–62, 65, 81, 87–88, 112–13, 131–33, 132, 133, 137–40, 152–53, 157, 222–26, 260, 287 strategy for, viii, xi, 10, 16–18, 20, 21, 31–32, 33, 42–44, 57–58, 69–73, 77, 78, 89, 111, 124, 173, 210–11, 272–74, 278 supply and demand in, 69–71, 173, 210–11, 272–74, 278 “thickness” of, 164, 171, 173 two-sided, 81, 89, 93, 110, 119, 175, 196, 215, 218, 295, 298 winner-take-all, viii, 224–27, 228, 279–80, 300 marquee strategy, 94–95, 105 Marriott Hotels, 8–9 massive open online courses (MOOCs), 266–67 mass media, 40, 63, 72, 77, 262, 264 MasterCard, 226, 275 matching services, 17, 47–48 Matharu, Taran, 4–5 McCormick Foods, 76 McGraw-Hill, 204, 208 Mechanical Turk, 249, 280 Medicare, 250 Medicast, 269, 279 Medium, 71–72 Meetup, 113–15, 126 Megaupload, 87–88 membership fees, 123, 125 Mercateo, 96–97 mergers and acquisitions, 208, 216, 220–21, 228 Metcalfe, Robert, 20, 297 Metcalfe’s law, 20, 21, 295, 297 metering tools, 272–73 Microsoft, vii, x, 3, 13, 20, 29, 33, 52–53, 94, 103–4, 110, 124, 131, 140, 152–53, 179, 181, 200, 211, 216, 226, 240, 241, 252, 267, 270–71 Microsoft Outlook, 103–4 Microsoft Vista, 52–53 Microsoft Windows, 30, 53, 140, 152–53, 200, 222, 240 Microsoft Windows XP, 53 middlemen, 68–69, 71–72, 78, 161–62, 170–71, 298 Minerva Project, 268 mining, 225, 263 mislabeled bargains, 161–62, 170–71 MIT, ix–x, xi, 214, 266, 267 MIT Initiative on the Digital Economy, ix–x MIT Platform Strategy Summit, xi, 214 moderators, 151–52 modular design, 54–57, 221 monetary policy, 159, 173–74 monetization, 38, 63, 106–27, 188, 215 MonkeyParking, 233, 234 monopolies, 18–19, 162, 163, 172–73, 182, 208–9, 227, 237, 238, 240–41, 242 Monster, 218–19, 223, 226 mortgages, 237, 243, 263 Mount, David, 285–86 MP3 players, 178 multidirectional platforms, 272–74 multihoming, 213–15, 223–28, 250–51, 297, 300 multinational corporations, 246–48 multi-sponsor decision-making, 139–40 multi-user feedback loop, 46, 100–101 music industry, 63, 71, 75, 87, 111, 134–35, 147, 178, 213, 226, 231, 258, 287, 297 MyFitnessPal, 75, 245 Myspace, 87, 92, 98, 125–26, 131–34, 132, 133, 135, 143, 204, 221, 226 Nakamoto, Satoshi, 171–73 Nalebuff, Barry J., 212 NASDAQ, ix, 80 National Transportation Safety Board (NTSB), 237 navigation tools, 191, 297 NBC, 204, 225 negative cross-side effects, 30–32, 34, 295 negative externalities, 163, 229–34, 257, 287 negative feedback, 28, 157–58, 166–67 negative network effects, 17, 26–32, 34, 47, 49, 51, 68, 112–15, 120, 121, 123, 126, 151, 229–34, 287, 298 negative same-side effects, 30, 298 Nest, 204, 225 Netflix, 63, 163, 204, 225 Netscape, 62, 110 network matching, 26–28 network orchestrators, 32 News Corp., 126 news feeds, 121, 168, 251–52 newspapers, 63, 144–45, 264, 287 New York City, 61, 113, 123, 229–30, 231, 258–59 New York State, 69–70, 274 New York Stock Exchange, 55, 171 New York Times, 205 NeXT, 53 Nigeria, 247 Nike, 4, 74–76, 78, 205, 271 9/11 attacks, 113 99designs, 66, 106 Nintendo, 94, 211, 240 noise, 28, 114, 120, 199, 200 Nokia, 49–50, 64, 131, 226 Novel Writing Month, 4–5 NTT, 89 oDesk, 201 oil and gas industry, 225, 235, 259, 263, 272 OkCupid, xi, 26–28, 30, 195–96 oligopolies, 209, 238 on-boarding effect, 90–91, 97 online courses, 96, 111, 265–68, 289 Open Data, 282 “open in” vs.


pages: 280 words: 74,559

Fully Automated Luxury Communism by Aaron Bastani

"Robert Solow", autonomous vehicles, banking crisis, basic income, Berlin Wall, Bernie Sanders, Bretton Woods, capital controls, cashless society, central bank independence, collapse of Lehman Brothers, computer age, computer vision, David Ricardo: comparative advantage, decarbonisation, dematerialisation, Donald Trump, double helix, Elon Musk, energy transition, Erik Brynjolfsson, financial independence, Francis Fukuyama: the end of history, future of work, G4S, housing crisis, income inequality, industrial robot, Intergovernmental Panel on Climate Change (IPCC), Internet of things, Isaac Newton, James Watt: steam engine, Jeff Bezos, job automation, John Markoff, John Maynard Keynes: technological unemployment, Joseph Schumpeter, Kevin Kelly, Kuiper Belt, land reform, liberal capitalism, low earth orbit, low skilled workers, M-Pesa, market fundamentalism, means of production, mobile money, more computing power than Apollo, new economy, off grid, pattern recognition, Peter H. Diamandis: Planetary Resources, post scarcity, post-work, price mechanism, price stability, private space industry, Productivity paradox, profit motive, race to the bottom, RFID, rising living standards, Second Machine Age, self-driving car, sensor fusion, shareholder value, Silicon Valley, Simon Kuznets, Slavoj Žižek, stem cell, Stewart Brand, technoutopianism, the built environment, the scientific method, The Wealth of Nations by Adam Smith, Thomas Malthus, transatlantic slave trade, Travis Kalanick, universal basic income, V2 rocket, Watson beat the top human players on Jeopardy!, Whole Earth Catalog, working-age population

And yet, just six years later in 2010, Google announced their self-driving cars had ‘logged in over 140,000 miles’ with seven test vehicles completing over 1,000 miles each without any human intervention – including difficult terrain like San Francisco’s notoriously steep Lombard Street. Since then the likes of Apple, Tesla and Uber have entered the game, not to mention the older incumbents of the automobile industry. By 2016 Uber’s then-CEO Travis Kalanick was clear about the importance of self-driving vehicles for any transport company: ‘It starts with understanding that the world is going to go self-driving and autonomous … what would happen if we weren’t a part of that future? If we weren’t part of the autonomy thing? Then the future passes us by.’ In the span of just eleven years the technology underpinning autonomous vehicles had improved so dramatically that they went from a totem of public ridicule to influencing the business models of some of the world’s most valuable companies.

., 198 internal energy insulation, 113 International Astronautical Congress, 119 International Bank for Energy Prosperity, 222 International Bank for Reconstruction and Development (IBRD), 221 International Development Association (IDA), 221 International Energy Agency (IEA), 100–1, 103, 105 International Renewable Energy Agency (IRENA), 103–4 International Rice Research Institute (IRRI), 166 internationalism, 197–200 internet bandwidth, 45–6 Interplanetary Transport System (ITS), 119, 120 IPCC, 101 IRENA (International Renewable Energy Agency), 103–4 IRRI (International Rice Research Institute), 166 Ishee, David, 9, 153–4 ITS (Interplanetary Transport System), 119, 120 Jain, Naveen, 127–8 Jameson, Fredric, 17n Japanese Space Agency, 131 JD.com, 89 Jennings, Ken, 80, 81 Jevons, William, 164, 167 Jevons Paradox, 164 Just Foods, 174, 178 Kalanick, Travis, 84 Kalecki, Michał, 230, 231 Kasparov, Garry, 80 Kennedy, Robert, 233 Keynes, John Maynard, 51, 56–9, 243 ‘KIVA’ robot, 89 Kodak, 40–2 Kranzberg, Melvin ‘Six Laws of Technology’, 237 Kuiper belt, 130 Kurdi, Alan, 156–7 Kuznets, Simon, 233 labour, when capital becomes, 69–71 Labour Party, 229 Łaski, Kazimierz From Marx to the Market, 230–1 LEDs, 242 Lehman Brothers, 21 Leia, 4–5 Lendlease, 205 Leninism, 196 Leontief, Wassily, 75–6 Letter on the Economic Possibilities of Our Grandchildren, 56–7 Lewicki, Chris, 132 Lewis, Clive, 207 life expectancy, 139–40, 142, 166 lithium, 117, 118 livestock farming, 169–70 ‘lost decade’, 26 Luther, Martin, 240–1 luxury populism electoralism and society, 194–6 against elite technocracy, 185–8 FALC and, 192–4 against globalism, 197–200 green politics and red politics, 188–92 towards internationalism, 197–200 Machiavelli, Niccolò Discorsi, 95 Madrid Protocol, 136 Malthus, Thomas, 167 An Essay on the Principle of Population, 163–4 market capitalism about, 197–8 emergence of, 39–40 market socialism, autonomy of publicly owned firms under, 231 Mars, 120 Martinelli, Luke, 226 Marx, Karl on capitalism, 16, 34–6, 35, 51, 54–5, 128, 199 The Communist Manifesto, 51–2 compared to Wycliffe, 241 Grundrisse, 51–2, 56–7, 61–3 on information, 49 on mode of production, 195 on production, 60 on technology, 237 May, Theresa, 29, 141, 206 McAfee, Andrew, 93 McCauley, Raymond, 146 McDonnell, John, 207 meat cultured, 170–5 synthetic, 168–70 from vegetables, 175–7 medicine, automation in, 91 meganucleases, 150 Memphis Meats, 172, 173 Mendel, Gregor, 149 migration, globalism and, 197 milk, cellular agriculture and, 177–9 Millennium Project, 87–8 minerals, 117–18, 134–7.


pages: 268 words: 74,724

Who Needs the Fed?: What Taylor Swift, Uber, and Robots Tell Us About Money, Credit, and Why We Should Abolish America's Central Bank by John Tamny

Airbnb, bank run, Bernie Madoff, bitcoin, Bretton Woods, buy and hold, Carmen Reinhart, corporate raider, correlation does not imply causation, creative destruction, Credit Default Swap, crony capitalism, crowdsourcing, Donald Trump, Downton Abbey, fiat currency, financial innovation, Fractional reserve banking, full employment, George Gilder, Home mortgage interest deduction, Jeff Bezos, job automation, Joseph Schumpeter, Kenneth Rogoff, Kickstarter, liquidity trap, Mark Zuckerberg, market bubble, money market fund, moral hazard, mortgage tax deduction, NetJets, offshore financial centre, oil shock, peak oil, Peter Thiel, price stability, profit motive, quantitative easing, race to the bottom, Ronald Reagan, self-driving car, sharing economy, Silicon Valley, Silicon Valley startup, Steve Jobs, The Wealth of Nations by Adam Smith, too big to fail, Travis Kalanick, Uber for X, War on Poverty, yield curve

So, despite a great concert enjoyed by Swift’s many fans, the evening had the potential to end badly, thanks to the fatal conceit of government officials that they can successfully plan prices. Was a good evening ruined? No. This story has a happy ending thanks to the intense entrepreneurialism that continues to define the American economy despite the barriers placed in front of this country’s dreamers. Specifically, the story ends well thanks to Uber. Founded in 2009 by Travis Kalanick, Uber’s business model is rooted in the correct understanding of commerce, namely, that there are no buyers without sellers, and vice versa. Kalanick devised an app that people around the world are adding to their smartphones in increasingly high numbers, as evidenced by a private valuation of the San Francisco company at more than $50 billion.2 Whereas it used to be that only the superrich had the means to ring a bell and summon a driver, thanks to Kalanick’s app anyone with a smart-phone can tap the Uber button and have a driver arrive in minutes.

See federal government Gray, Freddie, 135 Grazer, Brian, 22–23, 24–25, 26 Great Depression, 106, 141–43, 147, 168 The Greatest Trade Ever (Zuckerman), 45, 120 Greenspan, Alan, 119, 120, 164 Greider, William, 121 Griffin, Ken, 41 Guest, Christopher, 22 Guillies, Wendy, 175 Hamm, Harold, 73 Hanks, Tom, 22 Hannah, Daryl, 23 Harbaugh, Jim, 16–18, 20, 21, 79, 103, 127 hard assets, 118 Harford, Tim, 32, 64–65 Hartnett, Josh, 24 Hastert, Dennis, 52 Hawaiian Airlines, 34–35 Hawn, Goldie, 24 Hayward, Steven, 49, 50 Hazlitt, Henry, 22, 64, 74, 113, 163, 176 Heaven Can Wait (film), 23 hedge-fund managers, 48 Heller, Walter, 54 Hemingway, Ernest, 91 Hendrickson, Mark, 80 high-yield “junk bonds,” 37–40, 126 Hilsenrath, Jon, 147, 148 Hoffman, Dustin, 23 Hoke, Brady, 16, 20–21, 78–79, 103, 115, 127, 128, 148 Hollywood Shuffle (film), 109 Hoover, Herbert, 142, 168 Hoover Institution, 102 housing booms and “easy credit,” 113–22 and value of the dollar, 116–22 housing market and mortgage-backed securities, 150–52 Howard, Ron, 22–23 How We Got Here (Frum), 118 Human Action (von Mises), 20 Humphrey-Hawkins Full Employment Act, 165 hyperinflation in post-WWII Germany, 90–91 IBM, 53 Imagine Entertainment, 22–23 inflation Friedman’s view of, 136 inability of Fed to control, 159–61, 165 and value of the dollar, 43 inherited wealth, 29–30 initial public offering (IPO), 29, 124 innovation and definitions of success or failure, 29–30 and entrepreneurs, 66 and failure, 57–58 The Innovators (Isaacson), 31 insider trading, 38 Inside the Nixon Administration (Burns), 170 Intel, 143 intellectual property rights, 9–10 interest rates and the cost of credit, 1–3, 13–14, 47–48, 147 and the Fed on inflation as source of economic growth, 156–61, 165–66 housing boom and “easy credit,” 113–16, 120–22 and quantitative easing (QE) program, 149–51 Internet banking, 108, 111 Internet “bubble,” 57–58 Internet job creation, 178–79 investment banking, 123 Iron Man (films), 25 Ishtar (film), 23 Jagger, Mick, 25 James, LeBron, 137–38 Japan after World War II, 128 Bank of Japan and Nikkei index, 152, 159 job creation and robots, 176–80 Jobs, Steve, 30–31 Johnson, Lyndon B., 49, 53 Johnson, Mark, 153 Jones, Jesse, 167 “junk bonds,” 37–40, 126 Kalanick, Travis, 12, 13 Karlgaard, Rich, 160 Kashgar, 138 Kauffman Foundation, 175 Keaton, Diane, 24 Kelly, Jason, 126 Kennedy, John F., 49–50, 169 Kennedy, Robert F., 34 Keynesian economics, 78–82, 88, 93–96, 140–41 Keynes, John Maynard, 78, 147 Kickstarter, 110 Kiffin, Lane, 20 Kinski, Nastassja, 24 Knowledge and Power (Gilder), 57 Kohli, Shweta, 107 Kohn, Donald, 156 Kornbluth, Walter, 22 labor as credit, 15–21 Laffer, Arthur, 55, 137, 157, 158 Laffer curves, 50, 54–55 Lawrence, Jennifer, 37–38 Lee, Spike, 109, 110 Lending Club, 107–8 Leubsdorf, Ben, 156 Levy, Eugene, 22 Lewis, Nathan, 72, 137, 141–42, 144 LewRockwell.com website, 94 Lisa computer, 30 Lombard Street (Bagehot), 46 Luck, Andrew, 16–17 McAdams, Hall, 89–90, 104 McConnell, Mitch, 51 Mack, John J., 123, 130 Madoff, Bernard, 163 Mann, Windsor, 78 Margolis, Eric, 94, 96 market “bubbles,” 56–63 market forces and government spending, 59–60 price of goods versus price of dollars, 1–2 von Mises on, 20, 152 market intervention and the Fed, 159–61 Mazursky, Paul, 24 Medicare, 53, 78, 174 Merrill Lynch, 120 Metro public transit, 10–11 Meyer, Urban, 17–18 Microsoft, 30–31, 125, 143, 155 Milken, Michael, 38–40, 114, 126 Mill, John Stuart, 76 Mindich, Eric, 45–46 Mission Asset Fund, 107 mobile phones, 53–54 monetarism, 135–36, 138 money and Chinese economy, 135–36, 137 and economic activity, 3, 136–37, 140, 143 and gold standard, 68 and the Great Depression, 141–43, 147, 168 market monetarism, 138–39 as measure of wealth, 67–68 monetarism, 135–36, 138 “money multipliers” and “fractional lending,” 87–90 private money supplies, 144–45 and stable currency, 137, 144 Money and Foreign Exchange After 1914 (Cassel), 119 Moore, Gordon, 31 Moore, Stephen, 50–51 Morgan, J.


pages: 431 words: 129,071

Selfie: How We Became So Self-Obsessed and What It's Doing to Us by Will Storr

Albert Einstein, autonomous vehicles, banking crisis, bitcoin, computer age, correlation does not imply causation, Donald Trump, Douglas Engelbart, Douglas Engelbart, Elon Musk, en.wikipedia.org, gig economy, greed is good, invisible hand, job automation, John Markoff, Kickstarter, longitudinal study, Lyft, Menlo Park, meta analysis, meta-analysis, Mont Pelerin Society, mortgage debt, Mother of all demos, Nixon shock, Peter Thiel, QWERTY keyboard, rising living standards, road to serfdom, Robert Gordon, Ronald Reagan, selective serotonin reuptake inhibitor (SSRI), Silicon Valley, Silicon Valley startup, Steve Jobs, Steven Levy, Stewart Brand, The Future of Employment, The Rise and Fall of American Growth, Tim Cook: Apple, Travis Kalanick, twin studies, Uber and Lyft, uber lyft, War on Poverty, Whole Earth Catalog

‘And you actually think we’ll live to see people living in space?’ ‘I think I’ll live another thirty years, yeah,’ he said. ‘Elon Musk wants to put people on Mars by 2026. Anyone else at any other time in history would’ve been mad to say that. But this is Elon Musk.’ I wondered about the influence of Ayn Rand among his fellow founders. Steve Jobs, for one, is said to have treated Atlas Shrugged as his ‘guide in life,’ whilst Travis Kalanick of Uber used the cover of The Fountainhead as his Twitter avatar. ‘Engineers and richer folk are often libertarian,’ he said. ‘It’s never been tried, this pure libertarianism that Ayn Rand was promoting. What we need is a chance to give it a go. If we had a whole bunch of habitats in space that were somewhat politically isolated, you could run these experiments. That’s one of the things that will inevitably happen.

., PLOS ONE (July 2012), 7(7); ‘Fitting In or Standing Out: Trends in American Parents’ Choices for Children’s Names, 1880–2007’, Jean M. Twenge et al., Social Psychological and Personality Science (2010), 1(1), pp. 19–25. They write of the largest place of worship in America, Lakewood Church in Houston: The Narcissism Epidemic, Jean M. Twenge and W. Keith Campbell (Free Press, 2010), pp. 248, 249. Steve Jobs . . . Travis Kalanick: Wozniak on Steve Job’s Resignation, Bloomberg, 24 August 2011, video, from 08:46 [Wozniak: ‘He must have read some books that really were his guide in life and I think Atlas Shrugged might have been one that he mentioned back then.’] www.bloomberg.com/news/­videos/b/­d93c1b72-31e2-41de-ba4a-65a6cb4f4929. ‘Silicon Valley’s Most Disturbing Obsession’, Nick Bilton, Vanity Fair, November 2016.

Keith ref1, ref2, ref3, ref4 Carlyle, Abbot Aelred ref1, ref2 Carnegie, Dale ref1 How to Win Friends and Influence People ref1 Carter, Drummond ref1 celebrity culture ref1, ref2, ref3 chimpanzees ref1, ref2 China biographies in ref1 Confucian self ref1 and group harmony ref1 suicides in ref1 Christian Science movement ref1 Christianity ref1, ref2 Ancient Greek influence ref1, ref2 and belief in God ref1 dourly introspective ref1 future-orientated ref1 orthodox not orthoprax ref1 and perfection ref1 and reason ref1 ritual and mimicry ref1 and the unconscious ref1 and the university system ref1 Cialdini, Dr Robert, The Psychology of Influence and Persuasion ref1 CJ becomes anorexic ref1 childhood and family life ref1 description and life ambition ref1 devotion to The Hunger Games ref1, ref2, ref3 drops out of drama college ref1 need for validation ref1 personality ref1, ref2 relationship with boys ref1 takes selfies as validation of self ref1, ref2 Claybury psychiatric hospital ref1 Clinton, Bill ref1, ref2 Clinton, Hilary ref1 Coan, James ref1 Cole, Steve ref1 the Collective ref1 computers see digital technology Confucianism ref1 and Aristotelianism ref1 and suicide ref1 Confucius ref1 Connop, Phoebe ref1 Cook, Tim ref1 Cooley, Charles Horton ref1 Cornish, Jackie ref1 corporate self ref1 Corporation Man and Woman, idea of ref1 Coulson, William ref1, ref2 Council of Economic Advisers ref1 Cowen, Graeme ref1, ref2 Cramer, Katherine ref1 cultural self and Ancient Greece ref1 and Asian self ref1, ref2 childhood and adolescence ref1 and Confucianism ref1 and the environment ref1 Freudian beliefs ref1 and ideal body ref1, ref2 and storytelling ref1 and youth ref1 Curtis, Adam ref1 Cynics, in Ancient Greece ref1 Deep Space Industries ref1, ref2 Demo: New Tech Solving Big Problems conference (San Jose, 2014) ref1 Deukmejian, George ‘The Duke’ ref1, ref2, ref3 digital technology and age of perfectionism ref1 development of ref1, ref2 dot.com crash ref1 humanist-neoliberal ideology ref1, ref2, ref3 and the ideal self ref1 online community ref1 personal computers ref1, ref2 as portal to information ref1 and the selfie drone ref1 vision of the future ref1 Web 2.0 ref1, ref2, ref3, ref4 DNA ref1 Doyle, Jacqueline ref1 Dunbar, Robin ref1 Eagleman, David ref1 East Asians ref1, ref2, ref3, ref4, ref5 eating disorders ref1, ref2 Eddy, Mary Baker ref1, ref2 Eells, Gregory ref1 effectance motive ref1 Ehrenreich, Barbara ref1 El Rancho Inn, Millbrae ref1, ref2, ref3 empathy ref1, ref2, ref3, ref4, ref5, ref6, ref7 encounter groups danger of ref1 Doug Engelbart’s ref1 online ref1 participation in ref1, ref2, ref3, ref4 Fritz Perls’ ref1 Carl Rogers as pioneer of ref1 Will Schutz’s ref1 Engelbart, Doug ref1 interest in EST ref1 introduces encounter groups ref1 joins Global Business Network ref1 presents personal computer concept ref1, ref2 vision of information age ref1, ref2 ‘Augmenting Human Intellect’ ref1 environment and development of the brain ref1, ref2 Easterners’ vs Westerners’ awareness of ref1 effect of changes to ref1 importance of ref1 and individual experience ref1 and social perfectionism ref1, ref2, ref3 Epley, Nicholas ref1, ref2 Erhard, Werner ref1 Erhard Seminars Training (EST) workshops ref1 Esalen Institute ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10 Big Yurt ref1 criticisms of ref1 final assignment ref1 hosts conference on Spiritual and Therapeutic Tyranny ref1, ref2, ref3 influence at Stanford ref1, ref2 The Max ref1, ref2 Pandora’s Box ref1 Fritz Perls’ Gestalt encounter groups ref1 role-play tasks ref1 Will Schutz’s encounter groups ref1 stated mission ref1 suicides connected to ref1 unaffiliated ‘Little Esalens’ ref1 and wired technology ref1 EST see Erhard Seminars Training (EST) workshops Euclid, Cleveland ref1 Euripides, The Suppliants ref1 extraverts ref1, ref2, ref3, ref4 Faber, Daniel ref1, ref2 Facebook ref1, ref2, ref3, ref4 Fall Joint Computer Conference (San Francisco, 1968) ref1, ref2 financial crises ref1, ref2, ref3, ref4 Flett, Gordon ref1, ref2 Fonda, Jane ref1, ref2 Fortune magazine ref1, ref2 ‘The Founder’ concept ref1, ref2 Fox, Jesse ref1 free speech ref1 free will ref1, ref2, ref3, ref4 Freud, Sigmund ref1, ref2, ref3, ref4 Totem and Taboo ref1 Frith, Chris ref1 Gagarin, Nick ref1 gamified self ref1, ref2, ref3 Garcia, Rigo ref1 Gazzaniga, Michael ref1, ref2 GBN see Global Business Network Generation X ref1, ref2 George, Carol ref1 gig economy ref1, ref2 Global Business Network (GBN) ref1, ref2 globalization ref1, ref2, ref3 Gold, Judith ref1 Goldman, Marion ref1 Gome, Gilad ref1, ref2, ref3 Gordon, Robert ref1 gossip ref1, ref2, ref3, ref4, ref5, ref6, ref7 Great Compression (c. 1945–c. 1975) ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10, ref11, ref12 Great Depression ref1 Greenspan, Alan appointed Chairman of the Federal Reserve ref1 considers himself a libertarian ref1 effect of decisions on financial crisis ref1 influenced by Rand ref1, ref2, ref3, ref4 relationship with Clinton ref1 rise to power ref1 Hacker Hostels, San Francisco ref1, ref2 Haidt, Jonathan ref1, ref2, ref3 Hampton, Debbie ref1, ref2, ref3, ref4 Hayek, Friedrich ref1, ref2, ref3 Heinz, Adrienne ref1, ref2, ref3 Heinz, Austen considered sexist and misogynistic ref1 description of ref1 DNA vision ref1 personality ref1 suicide of ref1 Henrich, Joseph ref1, ref2, ref3 heroes ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8 Hewitt, John ref1, ref2, ref3, ref4 Hierarchy of Needs (Maslow) ref1 Himba people ref1 Hogan, Robert ref1 Hollesley Bay Young Offenders Institution, Suffolk ref1 Hood, Bruce ref1, ref2, ref3 The Self Illusion ref1 Horowitz, Mitch ref1, ref2 Human Potential Movement ref1, ref2, ref3, ref4, ref5 Humanistic Psychology ref1, ref2 The Hunger Games ref1, ref2, ref3 hunter-gatherers ref1, ref2, ref3, ref4, ref5 Hutchinson, Audrey ref1, ref2 Huxley, Aldous ref1 ideal self ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10 see also perfect self Immaculate Heart Community, California ref1 Inc.com ref1, ref2 individualism and the 2016 political shocks ref1 in America ref1 Ancient Greek notion of ref1, ref2, ref3 and blame ref1 Christian view ref1, ref2 competitive ref1, ref2 cooperation and teamwork ref1, ref2 and culture ref1 development of ref1, ref2 East Asian concept of ref1 East–West clash ref1 and freedom ref1, ref2, ref3, ref4 getting along and getting ahead ref1, ref2 and the Great Compression ref1 hard form of ref1 as heightened ref1 hyper-individual model ref1 libertarian-neoliberal ref1 and passion ref1 and personality traits ref1, ref2 and Ayn Rand ref1, ref2, ref3, ref4 rise of ref1, ref2 and self-esteem ref1, ref2, ref3, ref4 and social pain ref1 and the state ref1 Stewart Brand’s concept of ref1 and wired technology ref1 internet ref1, ref2, ref3, ref4, ref5 and Doug Engelbart ref1 and Web 2.0 ref1, ref2, ref3 introverts ref1, ref2, ref3 Jaeger, Werner ref1, ref2, ref3 James, William ref1 Japan, suicide in ref1 Jeremy (mechanical engineer) ref1, ref2, ref3, ref4 Jobs, Steve ref1, ref2, ref3, ref4 Kalanick, Travis ref1 kalokagathia ref1, ref2, ref3, ref4, ref5 Kelly, Jodi ref1 Kidlington Detention Centre, Oxfordshire ref1 Kim, Uichol ref1, ref2, ref3, ref4, ref5 Konrath, Sara ref1 Lakewood Church, Houston ref1 leadership ref1, ref2 Leary, Mark ref1 Levey, Cate ref1, ref2 libertarianism ref1, ref2, ref3, ref4, ref5 Lincoln Elementary School, Long Beach ref1 Little, Brian ref1, ref2, ref3, ref4 Loewenstein, George ref1 ‘The Long Boom: A History of the Future’ (Schwartz et al.) ref1, ref2 The Looking-Glass Self (Bruce) ref1, ref2 Lord, Frances ref1 Luit (chimpanzee) ref1 Lyons, Dan ref1 McAdams, Dan ref1 McKee, Robert ref1 McManus, Chris ref1 Marin, Peter ref1 market rhetoric ref1 Markoff, John ref1 Martin, Father ref1, ref2, ref3, ref4 Marwick, Alice ref1, ref2, ref3 Maslow, Abraham ref1, ref2 Matteo Ricci College, Seattle ref1 Mayfield, Janet ref1 Mecca, Andrew ref1, ref2, ref3, ref4, ref5, ref6 Menlo Park ref1, ref2, ref3, ref4, ref5 Michie, Colin ref1 millennials ref1, ref2, ref3, ref4 Mind Cure ref1, ref2, ref3 Mitropoulos, Con ref1, ref2 monastic life ref1, ref2, ref3, ref4, ref5 Monitoring the Future Project ref1 Mont Pelerin Society ref1 Morales, Helen ref1 Mumford, Lewis, The Myth of the Machine ref1 Murphy, Michael ref1, ref2, ref3, ref4, ref5, ref6, ref7 Musk, Elon ref1, ref2, ref3 narcissism ref1 at Esalen ref1, ref2 and over-praise ref1, ref2 research into ref1 rise in ref1, ref2, ref3, ref4 and self-esteem ref1, ref2, ref3 and Trump ref1 and Vasco ref1 in younger people ref1, ref2 The Narcissism Epidemic (Twenge and Campbell) ref1 narcissistic perfectionism ref1 Narcissistic Personality Disorder ref1 Narcissistic Personality Inventory (NPI) ref1, ref2 National Academy of Sciences Proceedings (2015) ref1 National Council for Self Esteem ref1 nature vs nurture in development ref1, ref2 neoliberalism becomes mainstream ref1 and being self-sufficient and successful ref1 and ‘bespoke hero’ ref1 corporate view ref1 and creation of new form of human ref1 and the digital future ref1 disdain for regulation and government oversight ref1 emergence ref1 and financial inequalities ref1, ref2 and gay rights/gay marriage ref1 and global financial crisis (2008) ref1 as global phenomenon ref1 governments run like businesses ref1 Hayek’s vision of ref1, ref2 individualism, status and self-esteem ref1 negative effects ref1 and new style of government ref1 and power of multinationals ref1 rebellion against ref1 and structural inequalities ref1 and working conditions ref1 Netflix: code for employees ref1 Nettle, Daniel ref1, ref2, ref3, ref4 Personality ref1 neurotics and neuroticism ref1, ref2 neurotic perfectionism ref1, ref2, ref3, ref4 as personality trait ref1, ref2, ref3, ref4, ref5, ref6, ref7 Nietzsche Society, UCL ref1 Nisbett, Richard ref1, ref2, ref3, ref4, ref5, ref6, ref7 NPI see Narcissism Personality Index; Narcissistic Personality Inventory O’Connor, Rory ref1, ref2, ref3, ref4, ref5 Oedipus complex ref1, ref2 O’Reilly, Tim ref1 ostracism ref1 Ozawa-de Silva, Chikako ref1 Pakrul, Stephanie (aka StephTheGeek) ref1 ‘Paris Hilton effect’ ref1 Peale, Dr Norman Vincent, The Power of Positive Thinking ref1 perfect self as an illusion ref1 Heinz Austen as example of ref1 and being anything we want to be ref1, ref2 Christian ref1 CJ as example of ref1 cultural conception of ref1 and culture ref1 and digital self ref1 and gamified individualist economy ref1 and ideal self ref1 judging others and ourselves ref1 narcissistic ref1 and neoliberalism ref1 neurotic ref1, ref2, ref3, ref4 perfectionist presentation ref1 and personal responsibility ref1 pressures of ref1 and the self ref1, ref2 selfishness or selflessness ref1, ref2 social ref1 and suicide ref1 see also ideal self Perls, Fritz ref1, ref2 as a ‘dirty old man’ ref1, ref2, ref3 feud with Schutz ref1 fractious relationship with Esalen ref1 Gestalt encounter groups ref1, ref2, ref3 near obsessional attacks and insults ref1 reaction to suicides ref1 Tom Wolfe’s comments on ref1 tough upbringing ref1 visits Freud ref1, ref2 personal computers see digital technology personality and acting out of character ref1 assumptions concerning ref1 basic traits ref1, ref2, ref3 and being or doing whatever we want ref1 and the brain ref1, ref2, ref3 different people in different contexts ref1 individualism and self-esteem ref1 and parental influence ref1 predictable shifts in ref1 prison metaphor ref1 and realising you’re not the person you wanted to be ref1 social responses ref1 tests and research ref1 as virtually unchanging ref1 physical self Ancient Greek ideals ref1, ref2 and body consciousness ref1, ref2, ref3, ref4 cultural influences ref1 and diet ref1 linked to moral worth ref1 Pluscarden Abbey ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8 polyamory ref1, ref2 Price, Marcia ref1 Price, Richard ref1, ref2, ref3 Pridmore, John ref1 childhood trauma ref1 effect of culture on ref1, ref2, ref3 sent to prison ref1 undergoes religious conversion ref1, ref2, ref3 violent behaviour ref1, ref2, ref3, ref4, ref5, ref6, ref7 weeps when watching TV ref1, ref2 psychoanalysis ref1 Qi Wang ref1 Quimby, Phineas ref1, ref2 Rainbow Mansion, Silicon Valley ref1, ref2 Rand, Ayn ref1, ref2, ref3 beliefs and influence ref1, ref2, ref3, ref4, ref5, ref6 changes her name/identity ref1 early life ref1 reaction to Nathaniel Branden’s infidelity ref1, ref2 sets up the Collective ref1 Atlas Shrugged ref1, ref2, ref3 The Fountainhead ref1 The Virtue of Selfishness ref1 reputation ref1, ref2 in Ancient Greece ref1 ‘getting along and getting ahead’ (Hogan) ref1, ref2, ref3, ref4, ref5, ref6 and guilt ref1 ‘honour culture’ ref1 and tribal brains ref1 Rogers, Art ref1, ref2 Rogers, Carl ref1, ref2, ref3, ref4, ref5, ref6, ref7 Roh Moo-hyun ref1 Rosenbaum, Alyssa see Rand, Ayn Rosetto, Louis ref1 Ross, Ben ref1, ref2 Rudnytsky, Peter ref1 Rule of St Benedict, The ref1, ref2 San Francisco ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9 Sapolsky, Robert ref1, ref2 Sartre, Jean-Paul ref1, ref2 Satir, Virginia ref1 Schuman, Michael ref1 Schutz, Will ref1, ref2, ref3, ref4, ref5, ref6 Joy ref1 Schwartz, Peter ref1 Scott, Sophie ref1, ref2 Seager, Martin ref1 self cultivation of ref1 East Asian, and reality ref1, ref2 and engagement in personal projects ref1 and local best-practice ref1 and need for a mission ref1 as open and free ref1 perfectible ref1, ref2 as a story ref1 see also authentic self Self-Determination Think Tank ref1 self-esteem Baumeister’s research into ref1 belief in ref1 and changes in values ref1 in education ref1, ref2, ref3 high ref1, ref2, ref3, ref4 and lack of tolerance and empathy ref1 legislation embodying ref1 legitimization of ref1 and life-affirming message ref1 lingering effects of movement ref1 low ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8, ref9, ref10 media questioning of ref1 myths and lies concerning ref1, ref2, ref3 and narcissism ref1, ref2, ref3 negative effects ref1 negative report on ref1 and overpraise ref1 and perfectionism ref1 popularity of ref1 raising ref1 research into ref1 and selfie generation ref1 Self-Esteem Task Force project ref1 social importance of ref1 Vasco’s ideology of ref1, ref2, ref3, ref4, ref5, ref6, ref7 Western emphasis on ref1 self-harm ref1, ref2, ref3, ref4, ref5, ref6, ref7, ref8 self-interest ref1, ref2, ref3 self-just-about-everything ref1, ref2 self-loathing ref1 self-love movement ref1, ref2, ref3, ref4 selfie generation ref1 awareness of structural inequalities ref1 CJ as example of ref1, ref2 effect of social media on ref1 maintaining continual state of perfection ref1 and narcissism ref1 need for social feedback ref1 and parenting practices ref1 selfishness/selflessness ref1, ref2, ref3, ref4, ref5 Shannahoff-Khalsa, David ref1, ref2, ref3, ref4 Shannin (entrepreneur) ref1 Shaw, Paula ref1, ref2, ref3, ref4 Silani, Dr Giorgia ref1 Silicon Valley, California ref1, ref2 attitude to conspicuous wealth ref1 as capital of the neoliberal self ref1 cold-blooded rationalism in ref1 demonstration of personal computing in ref1 hyper-individualist model of corporate self in ref1, ref2 involvement in transformation of economy ref1 lack of compassion in ref1 links with Esalen ref1 living in fear in ref1 as military-industrial complex ref1 model of ideal self in ref1 Simon, Meredith ref1, ref2, ref3 Singularity ref1 Smelser, Neil ref1, ref2, ref3, ref4, ref5 Smiles, Samuel ref1 Self Help ref1 Snyder, Mark ref1 Social Importance of Self-Esteem, The (Smelser et al.) ref1, ref2 social media ref1, ref2 social pain ref1, ref2 South Korea, suicide in ref1 Sparks, Randy ref1 Oh Yes, I’m A Wonderful Person and other Musical Adventures for those of us in search of Greater Self-Esteem ref1 Spiritual and Therapeutic Tyranny: The Willingness to Submit (conference, 1973) ref1, ref2, ref3 Squire, Michael ref1 Stanford Research Institute, Menlo Park ref1, ref2 Augmentation Research Center (ARC) ref1, ref2 Stanford University ref1, ref2, ref3 Center for Advanced Study in the Behavioral Sciences Unit ref1 Stark, Rodney ref1 start-ups ref1, ref2, ref3, ref4, ref5, ref6 Startup Castle, Silicon Valley ref1 stimulus-action hunger ref1 storytelling Brexit/Trump narrative ref1 development of personal narratives ref1 East–West differences/similarities ref1 and feelings of control ref1 as form of tribal propaganda ref1 happiness and sense of purpose ref1 and the inner voice ref1, ref2, ref3, ref4, ref5 self and culture ref1 and self-esteem ref1 and self-loathing ref1 selfishness or selflessness ref1, ref2, ref3 split-brain participants ref1 success and failure ref1 as universal ref1 suicide ref1 attempts at ref1, ref2, ref3 Confucian cultures ref1 connected to Esalen ref1, ref2 as failed hero stories ref1 gender and culture ref1, ref2 increase due to financial crisis (2008) ref1 in Japan ref1 and loss of hero status ref1 as a mystery ref1 patterns in ref1 and perfectionism ref1, ref2, ref3 rates of ref1 research into ref1 in South Korea ref1 Sunshine (attendee at Esalen) ref1 Sweet Peach ref1 synthetic biology ref1, ref2 Talhelm, Thomas ref1 Tanzania ref1, ref2 teamwork/cooperation ref1 Thiel, Peter ref1 Zero to One ref1 Tice, Dianne ref1 Tomkins, Detective Sergeant Katherine ref1 Tomlinson, Rachel ref1 Toward a State of Esteem (1990) ref1 tribal self Brexit/Trump narrative ref1 hierarchy, territory, status ref1 and ideal/perfect self ref1 monks as ref1 prejudice and bias ref1 and punishing of transgressors ref1 reputation and gossip ref1, ref2 selflessness or selflessness ref1, ref2, ref3, ref4 and storytelling/left-brain interpretation ref1 Trudeau, Garry ref1, ref2, ref3, ref4 Trump, Donald as anti-establishment ref1 appeal to voters ref1, ref2 declares he will put ‘America first’ ref1 false stories concerning ref1 narcissistic tendencies ref1 and social media ref1 as straightforward no-nonsense businessman ref1 Trzesniewski, Kali ref1 Turner, Fred ref1, ref2 Twenge, Jean ref1, ref2, ref3, ref4 20Mission (Hacker Hostel, San Francisco) ref1 Twitter ref1, ref2, ref3, ref4 University of Glasgow Suicide Behaviour Research Laboratory ref1, ref2, ref3 Vanessa (employee at Rainbow Mansion) ref1, ref2 Vasconcellos, John ‘Vasco’ ref1, ref2 death of ref1 description and beliefs ref1 early life and education ref1 as ‘furious’ ref1, ref2, ref3 as homosexual ref1 ideology of self-esteem ref1, ref2, ref3, ref4, ref5 nutty notions of ref1, ref2 ridiculed by the media ref1 and Smelser’s conclusions on the task force ref1 suffers massive heart attack ref1, ref2 Task Force project ref1 Vittitow, Dick ref1 Waal, Frans de ref1 Wallace, Donald ‘Smokey’ ref1 Warren, Laura ref1 Whole Earth Catalog ref1 Whole Earth ’Lectronic Link ref1, ref2, ref3 Wigglesworth, Smith ref1, ref2 Williams, Kip ref1, ref2 Wilson, Timothy D. ref1 Wolfe, Tom ref1 Wolin, Sheldon ref1 Wood, Natalie ref1, ref2 Wrangham, Richard ref1 Xerox ref1, ref2, ref3 zero-hours contracts ref1, ref2, ref3 Also by Will Storr FICTION The Hunger and the Howling of Killian Lone NON-FICTION Will Storr versus The Supernatural The Heretics: Adventures with the Enemies of Science (published in the US as The Unpersuadables) First published 2017 by Picador This electronic edition published 2017 by Picador an imprint of Pan Macmillan 20 New Wharf Road, London N1 9RR Associated companies throughout the world www.panmacmillan.com ISBN 978-1-4472-8367-6 Copyright © Will Storr 2017 Cover Design: Neil Lang, Picador Art Department The right of Will Storr to be identified as the author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988.


pages: 316 words: 87,486

Listen, Liberal: Or, What Ever Happened to the Party of the People? by Thomas Frank

Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, American ideology, barriers to entry, Berlin Wall, Bernie Sanders, blue-collar work, Burning Man, centre right, circulation of elites, Clayton Christensen, collective bargaining, Credit Default Swap, David Brooks, deindustrialization, disruptive innovation, Donald Trump, Edward Snowden, Fall of the Berlin Wall, financial innovation, Frank Gehry, full employment, George Gilder, gig economy, Gini coefficient, income inequality, Jaron Lanier, Jeff Bezos, knowledge economy, knowledge worker, Lean Startup, mandatory minimum, Marc Andreessen, Mark Zuckerberg, market bubble, mass immigration, mass incarceration, McMansion, microcredit, mobile money, moral panic, mortgage debt, Nelson Mandela, new economy, obamacare, payday loans, Peter Thiel, plutocrats, Plutocrats, Ponzi scheme, post-industrial society, postindustrial economy, pre–internet, profit maximization, profit motive, race to the bottom, Republic of Letters, Richard Florida, ride hailing / ride sharing, Ronald Reagan, sharing economy, Silicon Valley, Steve Jobs, Steven Levy, TaskRabbit, Thorstein Veblen, too big to fail, Travis Kalanick, Uber for X, union organizing, urban decay, women in the workforce, Works Progress Administration, young professional

It probably didn’t hurt that Uber had hired a former Patrick aide as a lobbyist, but the real point was, of course, innovation: Uber was the future, the taxi drivers were the past, and the path for Massachusetts was obvious. No surprise, then, that the first recipient of the Deval Patrick Commonwealth Innovation Award was none other than Deval Patrick. The prize was bestowed on him in 2014 by MassChallenge’s Harthorne, joined by the CEO of Uber, Travis Kalanick, who showed up in order to add some entrepreneurial gravitas to the moment. “I wanted to be here to thank the governor for his leadership, his vision around innovation, around technology, and creating that innovative spirit here in Massachusetts,” Kalanick said on that solemn occasion.29 Eric Schmidt, the chairman of Google, was also on hand to salute Massachusetts for an “explosion of startups.”

See also Silicon Valley; technocracy In the Shadow of FDR (Leuchtenburg) investment banks Iran Iraq War Isaacson, Walter It Takes a Village (H. Clinton) Jackson, Jesse Jackson, Robert Jefferson, Thomas Jobs, Steve jobs. See also unemployment NAFTA and sharing economy and training and Johnson, Dirk Jones, Jesse Jordan, Vernon JPMorgan Judis, John Justice Department Kahn, Alfred Kalanick, Travis Kamarck, Elaine Kennedy, Robert F. Kerry, John King, Martin Luther Klein, Joe Knapp, Bill Knights of Labor knowledge economy Kraft, Joseph Krugman, Paul Ku Klux Klan labor flexible markets for law and share of nation’s income labor unions NAFTA and Laden, Osama bin Lanier, Jaron Larson, Magali Lasch, Christopher LawTrades learning class. See also education; knowledge economy Lee, Michelle Lehane, Chris Lehman Brothers Leuchtenburg, William Lew, Jack Lewinsky, Monica Lewis, Ann LIBOR scandal Libya Lieberman, Joe Life Lincoln, Abraham lobbyists Long Beach Mortgage Mack, John Madison, James Mandela, Nelson manufacturing Manza, Jeff March on Washington (1963) Markell, Jack Maron, Marc Marshall Scholars Martha’s Vineyard Massachusetts Department of Housing and Economic Development health care system state legislature Massachusetts Institute of Technology (MIT) Innovation Initiative MassChallenge mass incarceration McCain, John McCaskill, Claire McChrystal, Stanley McGovern, George McGovern Commission MCI McKinsey firm Mechanical Turk Medicare meritocracy Mexico financial crisis of 1995 NAFTA and Microcredit Summit (1997) microlending Microsoft Miller, Zell Mills, C.


pages: 282 words: 81,873

Live Work Work Work Die: A Journey Into the Savage Heart of Silicon Valley by Corey Pein

23andMe, 4chan, affirmative action, Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, Anne Wojcicki, artificial general intelligence, bank run, barriers to entry, Benevolent Dictator For Life (BDFL), Bernie Sanders, bitcoin, Build a better mousetrap, California gold rush, cashless society, colonial rule, computer age, cryptocurrency, data is the new oil, disruptive innovation, Donald Trump, Douglas Hofstadter, Elon Musk, Extropian, gig economy, Google bus, Google Glasses, Google X / Alphabet X, hacker house, hive mind, illegal immigration, immigration reform, Internet of things, invisible hand, Isaac Newton, Jeff Bezos, job automation, Kevin Kelly, Khan Academy, Law of Accelerating Returns, Lean Startup, life extension, Lyft, Mahatma Gandhi, Marc Andreessen, Mark Zuckerberg, Menlo Park, minimum viable product, move fast and break things, move fast and break things, mutually assured destruction, obamacare, passive income, patent troll, Paul Graham, peer-to-peer lending, Peter H. Diamandis: Planetary Resources, Peter Thiel, platform as a service, plutocrats, Plutocrats, Ponzi scheme, post-work, Ray Kurzweil, regulatory arbitrage, rent control, RFID, Robert Mercer, rolodex, Ronald Reagan, Ross Ulbricht, Ruby on Rails, Sam Altman, Sand Hill Road, Scientific racism, self-driving car, sharing economy, side project, Silicon Valley, Silicon Valley startup, Singularitarianism, Skype, Snapchat, social software, software as a service, source of truth, South of Market, San Francisco, Startup school, stealth mode startup, Steve Jobs, Steve Wozniak, TaskRabbit, technological singularity, technoutopianism, telepresence, too big to fail, Travis Kalanick, tulip mania, Uber for X, uber lyft, ubercab, upwardly mobile, Vernor Vinge, X Prize, Y Combinator

This brazen startup raised $50 million in several early investment rounds, then pressured state regulators and elected officials until its service was effectively legalized. With its “break laws first, buy influence later” strategy proven, Uber’s next round raised an astonishing $258 million with help from Google, which needed to “disrupt” the rules of the road if it hoped to gain approval for its driverless cars. The cash windfall fueled Uber’s global expansion. Its CEO and cofounder, Travis Kalanick, was a big fan of the novelist Ayn Rand, and at times his behavior seemed to imitate one of Rand’s infinitely selfish antiheroes. Uber tried to subvert resistance wherever it launched by ingratiating itself with politicians. Usually, it worked. In Portland, Oregon, it hired the services of a powerful local political consultant who had managed the election campaigns for the mayor, a key city councilor, and many other statewide power players.

Michael Fusion Fwd.us Galvanize Gamergate Gandhi, Mahatma Gates, Bill Gawker Genentech General Dynamics General Electric Getty Images Ghostruck Girard, René Glassdoor GM Gmail Goldman Sachs Google Google AdWords Google Express Google Maps Googleplex Google X Gore, Al Government Proposal Solutions Graham, Paul Green, Joe Greender Greyball Greylock Partners GRiD Computers Grossman, Terry Groupon Guardian Hacker News Hagel, John Harper-Mercer, Chris Harvard University Hennessy, John Hewlett-Packard Heyer, Heather Hitler, Adolf Hoffa, Jimmy Hoffman, Reid Hofstadter, Douglas Hogan, Hulk Holmes, Elizabeth Hudson Pacific Properties Humanity+ Hunter, Duncan, Jr. IBM Inc. magazine Indelicato, Julie In-Q-Tel Instagram Instant Payday Network Institutional Venture Partners InterDigital, Inc. International Brotherhood of Teamsters iRobot ItsThisForThat.com Jacobstein, Neil Jobs, Steve Johnson, Robert Jordan, David Starr Joyner, Istvan JP Morgan Chase Juno Kalanick, Travis Kaufman, Micha Keeton, Kathy Kelly, Kevin Kenna, Jered Kennedy, Anthony Keurig Khan Academy Khosla, Vinod Kissinger, Henry Kjellberg, Felix. See PewDiePie Klein, Michael Klein, Roxanne Kleiner Perkins Kurzweil, Ray Laborize Land, Nick Lee, Rhoda Lifeboat Foundation Lifehacker Lifograph LinkedIn Lockheed Lockheed Martin Lombardi, Steven Lucas, George Luckey, Palmer Lyft Machine Intelligence Research Institute MacLeod, Ken Marshall, Brad Mason, Andrew McCauley, Raymond MCI Communications Mechanical Turk Meetup.com Mercer, Robert Microsoft Millionaires Society Miner, Bob Mishra, Pankaj Modi, Narendra Moldbug, Mencius.


pages: 320 words: 90,526

Squeezed: Why Our Families Can't Afford America by Alissa Quart

Affordable Care Act / Obamacare, Airbnb, Automated Insights, autonomous vehicles, barriers to entry, basic income, Bernie Sanders, business intelligence, Donald Trump, Downton Abbey, East Village, Elon Musk, full employment, future of work, gig economy, glass ceiling, haute couture, income inequality, Jaron Lanier, job automation, late capitalism, Lyft, minimum wage unemployment, moral panic, new economy, nuclear winter, obamacare, Ponzi scheme, post-work, precariat, price mechanism, rent control, ride hailing / ride sharing, school choice, sharing economy, Silicon Valley, Skype, Snapchat, surplus humans, TaskRabbit, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, union organizing, universal basic income, upwardly mobile, wages for housework, women in the workforce, working poor

Yet he described them as more comfortable financially dwelling in Orange County than he was living in the Bay Area. For Uber, economically challenged teachers like Anthony Arinwine represent a dual opportunity: a marketing coup as well as a ready labor force. In recent years, Uber has been trying to appeal to its customers as the ride service that employs middle-class people who find themselves at an impasse. When then-CEO Travis Kalanick started running the company in 2010, Uber took a different sales tack, claiming that driving for the company could be a full-time job, with drivers making as much as $100,000 a year. But Uber drivers’ pay stubs show that this was far from the truth, as they earned substantially less than that. John Koopman, a former journalist, is now an Uber driver. A bald spark plug of a man, Koopman worked as a journalist for twenty-five years, the last thirteen at the San Francisco Chronicle, and reported on the invasion of Iraq.

See Health insurance Iowa Writers’ Workshop, 236 Iraq war, 153, 154 ITT Technical Institute, 176–77, 183, 184 Jacobsen, Kat, 56, 59 James Lick High School, 152 Janzen, Daniel, 138 J. Crew, 71 Jewish Vocational Services (JVS), 166, 167, 182 Job interviews, 165–68, 186–87 Job longevity, 171–72, 174 Jobs, second acts. See Second act industry Jobs programs, 184, 290n Johnson, Mea, 195 Journalism, automated, 235–36 “Just-in-time” scheduling, 71–72, 85 Jyeshtha, 53 Kalanick, Travis, 153 Kaplan, Jerry, 252 Kelsky, Karen, 42–43 Kessler-Harris, Alice, 112–13, 123–24 Kid Care Concierge, 70 Kimmel, Michael, 150–51, 262 Kindergarten admissions, 136 King, Martin Luther, Jr., 240 Kirshenbaum, Gayle, 124 Kodak, 202 Koopman, John, 153–55, 251 Kwak, Nancy, 128 Labor unions, 5, 65, 106, 162, 182–83 adjunct faculty pay and, 53–54 Lake Land College, 37 L’Altrelli, Al, 226, 239 Lanier, Jaron, 294n Last Gen X American, The, 102 Law school graduates, 37–38, 101–10, 233 Law schools, for-profit, 101, 104–5 Law School Transparency, 106–8 Lean In (Sandberg), 251 Leaning forward, 251 Leaning in, 130, 251 Leaning over, 251 Leary, Mark, 216 Leave Law Behind, 108–9 Legal profession, automation of, 106, 232–33 LegalTech, 232 Legitimating Television (Newman and Levine), 220–21 Leichter, Matt, 102 Leonardo da Vinci Intermediate School, 127–28, 131–32 Lerner, Michael, 214 Lerner, Zachary, 231–32 Levin, Ira, 103 Levinas, Emmanuel, 155 Levine, Elana, 220–21 Life’s Work, A (Cusk), 21, 70 Life trajectory, 171–72 LinkedIn, 165, 187 Livingston, James, 242–43 Loconomics, 158 Loneliness of parenting, 203–5 Long Haul, The (Murphy), 230 Loudon, Michael, 41 “Love and money” framework, 77–78 Luddites, 237, 247 Maass, Peter, 3–4, 22, 25, 93, 250–51 McDonald’s, 73–74, 85 McEntee, Kyle, 106–8 McKinsey Global Institute, 228, 252 Madden, David “DJ,” 200 Mad Men (TV show), 217, 221–22 Makeover mentality, 170–72 Malcolm X Academy, 152 Maloney, Rebecca, 152 Manovich, Lev, 214–15 Mara, Robert, 101–2, 104–5 Mara, Wendy, 101–2 Marcuse, Peter, 200 Margaret Moseley Cooperative, 195 Marisol, 66–67, 87 Marmot, Michael, 96 Martin Luther King Jr.


pages: 400 words: 88,647

Frugal Innovation: How to Do Better With Less by Jaideep Prabhu Navi Radjou

3D printing, additive manufacturing, Affordable Care Act / Obamacare, Airbnb, Albert Einstein, barriers to entry, Baxter: Rethink Robotics, Bretton Woods, business climate, business process, call centre, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, cloud computing, collaborative consumption, collaborative economy, Computer Numeric Control, connected car, corporate social responsibility, creative destruction, crowdsourcing, disruptive innovation, Elon Musk, financial exclusion, financial innovation, global supply chain, IKEA effect, income inequality, industrial robot, intangible asset, Internet of things, job satisfaction, Khan Academy, Kickstarter, late fees, Lean Startup, low cost airline, low cost carrier, M-Pesa, Mahatma Gandhi, megacity, minimum viable product, more computing power than Apollo, new economy, payday loans, peer-to-peer lending, Peter H. Diamandis: Planetary Resources, precision agriculture, race to the bottom, reshoring, risk tolerance, Ronald Coase, self-driving car, shareholder value, sharing economy, Silicon Valley, Silicon Valley startup, six sigma, smart grid, smart meter, software as a service, standardized shipping container, Steve Jobs, supply-chain management, TaskRabbit, The Fortune at the Bottom of the Pyramid, The Nature of the Firm, transaction costs, Travis Kalanick, unbanked and underbanked, underbanked, women in the workforce, X Prize, yield management, Zipcar

Similarly, in 2006 Frédéric Mazzella and Nicolas Brusson founded BlaBlaCar which, by 2014, had emerged as Europe’s largest car-sharing firm. BlaBlaCar now transports over 1 million passengers a month, which is more than Eurostar, a high-speed railway service connecting London with Paris and Brussels. The same applies to Uber, a mobile service directly connecting passengers with drivers for hire. Co-founded in 2009 by Garrett Camp and Travis Kalanick, Uber has disrupted the traditional taxi industry. In 2014 it was valued at $18.2 billion. Neither Mazzella nor Brusson, nor Camp nor Kalanick, had any experience in the automotive or transport services sector, and yet they managed to disrupt both. How? They all confronted a pressing problem or critical need and after becoming frustrated with existing solutions decided to solve it themselves.

(Daru) 169 data, sharing with partners 59–60 data analytics 206 Datta, Munish 183 De Geer, Jacob 40 Decathlon 126–7, 128 deceleration of energy consumption 53, 54 decentralisation 47, 50, 51–2, 53–4, 66–7 Defence Advanced Research Projects Agency (DARPA) 49 Delabroy, Olivier 206, 207 delayed differentiation 57–8 Deloitte 14, 171 demand forecasts 58 democratisation of innovation 50–1, 127, 132, 166 deregulation 53, 54 design 75, 88–9 inclusive 194–5 for longevity 121 modular 67, 90 for next-generation customers 121–2 for postponement 67 for sustainability 82–4, 92, 93, 120–1, 195–6 see also CAD; C2C; E&I; R&D design-led organisations 71 designers 88, 93, 152 Detourbet, Gérard 4–5, 199 Deutsche Telekom 194 developed economies 190, 207 consumers 2, 9, 102, 189, 206 energy sector 52–3 frugal innovation in xvii frugality in 8, 218 development costs 22, 36 development cycle 21, 23, 42, 72, 129, 200 DHL 143 differentiation 57–8, 76, 150 digital disrupters 16–17 digital enrichment 89 digital integration 65–6 digital monitoring 65–6 digital prototyping 52 digital radiators 89 digital tools 47, 50, 53, 62, 164, 170 for tracking customer needs 28–9, 29–31 digitisation 53, 65–6, 174 disruptive innovation 10–11, 40, 70, 91, 170, 199 “disruptive value solutions” 191–3 distributed energy systems 53–4 distributed manufacturing 9 distribution 9, 54, 57, 96, 161 distributors 59–60, 76, 148 DIWO (do it with others) 128 DIY (do-it-yourself) 9, 17–18, 89, 128, 130–1, 134–6 health care 109–12 see also TechShops; FabLabs Doblin 171 doing better with less 12–16, 215 doing less for less 205–6 doing more with less 1–3, 16, 177, 181, 206, 215 Dougherty, Dale 134 dreamers 144 Dreamliner (Boeing) 92 dreams 140–1 DriveNow 86 drones 61, 150 Drucker, Peter 179 drug development 22, 23, 35, 171 see also GSK; Novartis drug manufacture 44–6 Dubrule, Paul 172–3 Duke 72 DuPont 33, 63 durability 83, 124 dynamic portfolio management techniques 27, 33 Dyson 71 E E&I (engage and iterate) principle xviii, 19–21, 27–34, 41–3, 192 promoting 34–41 e-commerce 132 e-learning 164–5 e-waste 24, 79, 87–8, 121 early movers 45, 200, 215 easyCar 85 easyJet 60 Eatwith 85 eco-aware customers 22, 26, 215 eco-design principles 74 see also C2C eco-friendly behaviour 108 eco-friendly products 3, 73–7, 81–2, 93, 122, 153, 185, 216 Ecomobilité Ventures 157 economic crisis 5–6, 46, 131, 180 economic growth 76–7 economic power, shifting 139 economic problems 153, 161–2 economies of scale 46, 51, 55, 137 Ecover 82 EDC (Cambridge University Engineering Design Centre) 194–5 Edelman Good Purpose survey 101 Trust Barometer 7 EdEx 61, 112 Edison, Thomas 9, 149, 151 education 16–17, 60, 61, 112–14, 135–6, 164–5, 181–3 efficacy 181–3 efficiency 33, 60, 71, 154, 209 Ehrenfeld, John 105 Eisenhower, Dwight D. 93 electric cars 47, 86, 172 electricity consumption 196 generation 74, 104 electronic waste see e-waste electronics, self-build 51 Ellen MacArthur Foundation 76, 81 emerging markets 16, 35, 40, 94, 190, 198, 205 aspirations 119–20, 198 cars aimed at 4–5, 16, 198–9 competitors 16, 205–6, 216 consumers 197–8, 198, 199, 203 distribution models 57 IBM and 199–202 infrastructure 56, 198, 207 innovation in 4, 39–40, 188–9, 205–6 products tailored to 38, 198–9, 200–2 Siemens and 187–9 suppliers 56 testing in 192 wages in 55 in Western economies 12–13 emissions 47, 78, 108 see also carbon emissions; greenhouse gas emissions employees 14, 37, 39, 84, 127, 174–5, 203–8, 217 as assets 63–5 cutting 153 empowering 65, 69–70 engaging 14, 64–5, 178–9, 180, 203–8, 215 health care for 210–11 incentives 7, 37, 38–9, 91–2, 184, 186, 207–8 and MacGyvers 167 Marks & Spencer 187 mental models 193–203 motivation 178, 180, 186, 192, 205–8 performance 69, 185–6 recruiting 70–1 training 76, 93, 152, 170, 189 younger 14, 79–80, 124, 204 see also organisational change empowering consumers 22, 105, 106 empowering employees 65, 69–70 empowering prosumers 139–43 energy 51, 103, 109, 119, 188, 196, 203 generation 52–4, 74, 104, 197 renewable 8, 53, 74, 86, 91, 136, 142, 196 energy companies 52–4, 99, 103 energy consumption 9, 53, 54, 107, 196 homes 54, 98–100, 106–9 reducing 74, 79, 91, 108, 159, 180 energy costs 161, 190 energy efficiency 12, 54, 75, 79, 191, 193–4, 194, 206 factories 197 Marks & Spencer 180–1, 183 workplaces 80, 193–4 energy sector 52–4, 197 engage and iterate see E&I engaging competitors 158–9 engaging customers 19–21, 24–6, 27–33, 34, 35, 38–9, 42–3, 115, 128, 170 advertising 71–2 engaging employees 14, 64–5, 178–9, 180, 203–8, 215 engaging local communities 52, 206–7 engaging prosumers 139–43, 143–6 “enlightened self-disruption” 206 “enlightened self-interest” 172 entrenched thinking 14–16 entrepreneurial culture 76 entrepreneurs 150, 163–4, 166 engaging with 150, 151, 152, 163–4, 168, 173–6, 207 environmental cost 11 environmental degradation 7, 105 environmental footprint 12, 45, 90–1, 97, 203 environmental impact 7, 27, 73, 77, 90, 92, 174, 196 environmental problems, solving 82, 204 environmental protection agencies 74, 76 environmental responsibility 7, 10, 14, 124, 197 environmental standards 80, 196 environmental sustainability 73–5, 76, 85, 186 Ericsson 56 Eschenbach, Erich Ebner von 86 Esmeijer, Bob 32 Essilor 57, 146, 161 ethnographic research 29–31, 121–2, 157–8 Etsy 132 EU energy consumption 54 sustainability regulation 8, 78, 79, 216 Europe 12–13, 22, 40, 44, 120, 161, 188 ageing populations 194 energy consumption 54 frugal innovation in 215–16, 218 greener buildings 196 horizontal economy 133 incomes 5–6 regulation 8, 78, 79, 216 sharing 85, 138–9 tinkering culture 18, 133–4 European Commission 8, 103, 137 Eurostar 10, 163 evangelists 145 EveryoneOn 162 evolutionary change 177–9 execution agility 33–4 Expedia 173, 174 expert customers 146 “experts of solutions” 164 Expliseat 121 ExploLab 42 “Eye Mitras” 146 F F3 (flexible, fast and future) factories 66–7 Faber, Emmanuel 184 FabLabs 9, 134–5 Facebook 16, 29, 62, 133, 144, 146, 147, 150 factories 66–7, 134, 197 see also micro-factories “factory in a box” 134 factory-agnostic products 67 Fadell, Tony 99 failures 33–4, 42 at launch 22, 25, 141, 171 FastWorks 41, 170 FDA (Food and Drug Administration) 39, 79 FDIC (Federal Deposit Insurance Corporation) 13, 17, 161 FedEx 65, 154 Ferrero 57 FGI Research 29 FI (frugal intensity) 10–11, 189–93 FIAM Italia 88–9 Fields, Mark 70 FieldTurf 75, 76 financial habits 115–16 financial measurements 118 financial services 13, 18, 57, 63, 124–5, 135, 161–2, 201 underserved public 13, 17, 161–2 Finland 103 first-mover advantage 45, 200 FirstBuild 52, 152 fixed assets 46, 161 fixers 146 flexibility 33, 35, 65, 90, 143 of 20th-century model 23, 46, 51, 69 lattice organisation 63–4 manufacturing 57, 66, 191 of sharing 9–10, 124 supply chain 57–8 flexible logistics 57–8, 191 flexing assets xviii–xix, 44–6, 65–72, 190 employees 63–5, 69–71 manufacturing 46–54, 65 R&D 67 services 60–3, 65 supply chain 54–60, 65, 66–7, 67–8 FLOOW2 161 Flourishing: A Frank Conversation about Sustainability (Ehrenfeld and Hoffman, 2013) 105 FOAK (First of a Kind) 142 “follow me home” approach 20 Food and Drug Administration see FDA Ford, Henry 9, 70, 98, 129, 165 Ford Motor Company 50, 58, 70, 89, 165–7, 171 Forrester Research 16, 25, 143 Frampton, Jez 142 France 5–6, 40, 93, 133, 138, 172, 194 consumer behaviour 102, 103 Francis, Simon 71 Franklin, Benjamin 134, 218 freight costs 59 Fried, Limor 130 frugal competitors 16–18, 26, 216 frugal consumers 197–200 frugal economy 5–12 frugal engineering 4, 40 frugal health-care 208–13 frugal innovation xvii–xx, 4, 10–16, 215–18 six principles xvii–xx frugal intensity see FI frugal manufacturing 44–54 frugal mindset xvii–xviii, 198–203 frugal organisations 63–5, 69 see also organisational culture frugal services 60–3, 216 frugal supply chain 54–60 frugality 5, 8, 119–20, 204, 218 fuel consumption, reducing 106–7 fuel costs 121 fuel efficiency 8, 12, 24, 47, 78, 131, 197 Fujitsu 11, 29–31 future customers 193–5, 205 FutureLearn 61, 112, 113 G GAFAs (Google, Apple, Facebook and Amazon) 150, 155, 211, 216 gamification 108, 112, 113–14, 162 Gap 7 Gartner 59–60 Gates, Bill 138 GDF Suez 53–4 GDP (gross domestic product) 104 GE (General Electric) 9, 21, 40, 139, 149–53, 161, 171, 215 additive manufacturing 49 “culture of simplification” 170 learning from start-ups 40–1 micro-factory 52 GE Aviation 49 GE Distributed Power 53 GE Garages 152 GE Healthcare 40 GE Ventures 151 Gebbia, Joe 163 General Electric see GE General Motors see GM Genzyme 45 Gerdau Corporation 159 Germany 66, 85, 93, 103, 136, 156, 194 ageing workforce 13, 49, 153 impact of recession 5, 7 market 85, 189 Mars distribution in 57, 161 Gershenfeld, Neil 134 Ghosn, Carlos 4, 198–9, 217 Giannuzzi, Michel 73, 76 Gibson, James 120 giffgaff 147–8 Gillies, Richard 185 GlaxoSmithKline see GSK Global Innovation Barometer 139 global networks 39–40, 52, 152–3, 202 Global Nutrition Group (PepsiCo) 179 global recovery of waste (GROW) 87–9 global supply chains 36, 137 Global Value Innovation Centre (GVIC) (PepsiCo) 190–2 GlobeScan 102 GM (General Motors) 21, 50, 68, 155, 166 see also Opel goals 94, 178, 179–89, 217 “big, hairy audacious” 90–1, 158–9, 179, 191–2 good-enough approach 27–8, 33–4, 42, 170, 188–9, 200 Google 17, 38, 63, 130, 136, 150, 155, 172 Gore, Bill 63–4, 69 Gore, Bob 63 Gore, Vieve 63 governments 6–7, 7–8, 13, 109, 161 Graeber, Charles 201 Greece 5, 6 greenhouse gas emissions 102, 196 reducing 8, 78, 78–9, 95 see also carbon emissions gross domestic product see GDP Groth, Olaf 153 GROW (global recovery of waste) 87–9 growth 6, 13, 76–7, 79, 80, 104–5 of companies 72, 100 sustainability 72, 76–7, 79–80 GSK (GlaxoSmithKline) 35–6, 36–7, 39, 45, 215 GSK Canada 29 gThrive 118 GVIC (Global Value Innovation Centre) (PepsiCo) 190–2 Gyproc 160 H hackers 130, 141–2 Haier 16 “handprint” of companies 196 Harley-Davidson 66, 140 Hasbro 144 Hatch, Mark 134–5 health care 13, 109–12, 135, 153, 161, 198, 202–3, 208–13 health insurance 109, 208–13 heat, harvesting 89 Heathrow Airport 195 Heck, Stefan 87–8 Heineken 84 Herman Miller 84 HERs (home energy reports) 109 Hershey 57 Higgs Index 90 Hilton 10, 163 Hippel, Eric Von 130 Hoffman, Andrew 105 home energy reports (HERs) 109 homes 157–8 energy 53, 103, 109 horizontal economy 133–9 horizontal ecosystems 154–5 Hosking, Ian 195 Howard, Steve 78 hub-and-spoke models 60 HubCap 107–8 human-sized factories 63, 64 Hurtiger, Jean-Marie 1–2 HVCs (hybrid value chains) 161–2 hybrid make/move model 57–8 hybrid value chains (HVCs) 161–2 hyper-collaboration 153–76, 190–1 I I-Lab 206–7 Ibis 173 IBM 17, 39, 142, 154, 171, 171–2, 199–202 R&D in Nairobi 200–2 ideas42 109 ideators 144–5 IDEO 121 IKEA 78, 100, 108, 132, 142, 194 IME (Institute of Mentorship for Entrepreneurs) 175 Immelt, Jeff 170, 217 immersion 29–31, 31–2, 193–4 Impact Infrastructure 197 improvisation 27, 179, 182 Inc. magazine 81–2 incentives 7, 37, 38–9, 91–2, 184, 186, 207–8, 213 inclusion 7, 13 inclusive design 194–5 Inclusive Design Consortium 195 incomes 5, 6, 102, 194 India 40, 57, 102, 191, 200, 216 aspirations 119, 198 emerging market 4, 12, 38, 146, 169, 197, 205, 207 frugal innovation 4–5, 169 mobile phones 56, 198 Renault in 4–5, 40, 198–9 selling into 119, 187–8 Indiegogo 137, 138, 152 industrial model 46, 55, 80–1 industrial symbiosis 159–60 inequality 6, 13 inflation 6 infrastructure 46, 92–3, 198, 207 ingenuity xx, 2, 14, 18, 70, 76, 164, 166, 217 jugaad xvii, 199 Ingredion 158–9 InHome 157–8 innovation 14, 23, 40, 50–1, 70, 153, 200 costs 10–11, 150, 168, 171 democratisation 50–1, 127, 132, 166 disruptive 10–11, 40, 70, 91, 170, 199 process 28–34, 43 speed 10–11, 129, 150, 167–8, 173 technology-led 26 see also frugal innovation; prosumers; R&D innovation brokering 168–9, 173–6 Innovation Learning Network 203 innovative friends xx, 150–3, 176 see also hyper-collaboration InProcess 121–2, 157–8 Institute of Mentorship for Entrepreneurs (IME) 175 insurance sector 116 intellectual capital 171–2 Interbrand 142 Interface 90–1, 123 interfaces 98, 99 internal agility 169–70 internet 62, 65, 85, 103, 106, 133, 174, 206 Internet of Things 32, 106, 150, 169, 174 Intuit 19–21, 29, 145 inventors 50–1, 134, 137–9, 149, 150–1 inventory 54, 58 investment crowdfunding 137–9 in R&D 15, 22, 23, 28, 141, 149, 152, 171, 187 return on 22, 197 investors 123–4, 180, 197, 204–5 iPhones 16, 100, 107, 131, 148 Ispo 84 Italy 6, 103, 133 iteration 20–1, 31, 36, 38, 41, 52, 170, 179, 200, 213–14 iZettle 40 J Janssen Healthcare Innovation 111 Japan 8, 22, 40, 52, 102, 196, 200 ageing population 6, 194 ageing workforce 2, 13, 49, 153 austerity 5, 6 environmental standards 78–9 and frugal innovation 215–16, 218 horizontal economy 133 regulation 216 robotics 49–50 Jaruzelski, Barry 23 Jawbone 110 Jeppesen Sanderson 145 jiejian chuangxin 200, 202 Jimenez, Joseph 45 Jobs, Steve 68–9, 164 John and Catherine T. MacArthur Foundation 14 John Deere 67 John Lewis 195 Johnson & Johnson 100, 111 Johnson, Warren 98 Jones, Don 112 jugaad (frugal ingenuity) 199, 202 Jugaad Innovation (Radjou, Prabhu and Ahuja, 2012) xvii, 17 just-in-time design 33–4 K Kaeser, Joe 217 Kalanick, Travis 163 Kalundborg (Denmark) 160 kanju 201 Karkal, Shamir 124 Kaufman, Ben 50–1, 126 Kawai, Daisuke 29–30 Kelly, John 199–200 Kennedy, President John 138 Kenya 57, 200–1 key performance indicators see KPIs Khan Academy 16–17, 113–14, 164 Khan, Salman (Sal) 16–17, 113–14 Kickstarter 17, 48, 137, 138 KieranTimberlake 196 Kimberly-Clark 25, 145 Kingfisher 86–7, 91, 97, 157, 158–9, 185–6, 192–3, 208 KissKissBankBank 17, 137 Knox, Steve 145 Knudstorp, Jørgen Vig 37, 68, 69 Kobori, Michael 83, 100 KPIs (key performance indicators) 38–9, 67, 91–2, 185–6, 208 Kuhndt, Michael 194 Kurniawan, Arie 151–2 L La Chose 108 La Poste 92–3, 157 La Ruche qui dit Oui 137 “labs on a chip” 52 Lacheret, Yves 173–5 Lada 1 laser cutters 134, 166 Laskey, Alex 119 last-mile challenge 57, 146, 156 L’Atelier 168–9 Latin America 161 lattice organisation 63–4 Laury, Véronique 208 Laville, Elisabeth 91 Lawrence, Jamie 185, 192–3, 208 LCA (life-cycle assessment) 196–7 leaders 179, 203–5, 214, 217 lean manufacturing 192 leanness 33–4, 41, 42, 170, 192 Learnbox 114 learning by doing 173, 179 learning organisations 179 leasing 123 Lee, Deishin 159 Lego 51, 126 Lego Group 37, 68, 69, 144 Legrand 157 Lenovo 56 Leroy, Adolphe 127 Leroy Merlin 127–8 Leslie, Garthen 150–1 Lever, William Hesketh 96 Levi Strauss & Co 60, 82–4, 100, 122–3 Lewis, Dijuana 212 life cycle of buildings 196 see also product life cycle life-cycle assessment (LCA) 196–7 life-cycle costs 12, 24, 196 Lifebuoy soap 95, 97 lifespan of companies 154 lighting 32, 56, 123, 201 “lightweighting” 47 linear development cycles 21, 23 linear model of production 80–1 Link 131 littleBits 51 Livi, Daniele 88 Livi, Vittorio 88 local communities 52, 57, 146, 206–7 local markets 183–4 Local Motors 52, 129, 152 local solutions 188, 201–2 local sourcing 51–2, 56, 137, 174, 181 localisation 56, 137 Locavesting (Cortese, 2011) 138 Logan car 2–3, 12, 179, 198–9 logistics 46, 57–8, 161, 191, 207 longevity 121, 124 Lopez, Maribel 65–6 Lopez Research 65–6 L’Oréal 174 Los Alamos National Laboratory 170 low-cost airlines 60, 121 low-cost innovation 11 low-income markets 12–13, 161, 203, 207 Lowry, Adam 81–2 M m-health 109, 111–12 M-KOPA 201 M-Pesa 57, 201 M3D 48, 132 McDonough Braungart Design Chemistry (MBDC) 84 McDonough, William 82 McGregor, Douglas 63 MacGyvers 17–18, 130, 134, 167 McKelvey, Jim 135 McKinsey & Company 81, 87, 209 mainstream, frugal products in 216 maintenance 66, 75, 76, 124, 187 costs 48–9, 66 Mainwaring, Simon 8 Maistre, Christophe de 187–8, 216 Maker Faire 18, 133–4 Maker platform 70 makers 18, 133–4, 145 manufacturing 20th-century model 46, 55, 80–1 additive 47–9 continuous 44–5 costs 47, 48, 52 decentralised 9, 44, 51–2 frugal 44–54 integration with logistics 57–8 new approaches 50–4 social 50–1 subtractive method 48 tools for 47, 47–50 Margarine Unie 96 market 15, 28, 38, 64, 186, 189, 192 R&D and 21, 26, 33, 34 market research 25, 61, 139, 141 market share 100 marketing 21–2, 24, 36, 61–3, 91, 116–20, 131, 139 and R&D 34, 37, 37–8 marketing teams 143, 150 markets 12–13, 42, 62, 215 see also emerging markets Marks & Spencer (M&S) 97, 215 Plan A 90, 156, 179–81, 183–4, 186–7, 214 Marriott 140 Mars 57, 158–9, 161 Martin Marietta 159 Martin, Tod 154 mass customisation 9, 46, 47, 48, 57–8 mass market 189 mass marketing 21–2 mass production 9, 46, 57, 58, 74, 129, 196 Massachusetts Institute of Technology see MIT massive open online courses see MOOCs materials 3, 47, 48, 73, 92, 161 costs 153, 161, 190 recyclable 74, 81, 196 recycled 77, 81–2, 83, 86, 89, 183, 193 renewable 77, 86 repurposing 93 see also C2C; reuse Mayhew, Stephen 35, 36 Mazoyer, Eric 90 Mazzella, Frédéric 163 MBDC (McDonough Braungart Design Chemistry) 84 MDI 16 measurable goals 185–6 Mechanical Engineer Laboratory (MEL) 52 “MEcosystems” 154–5, 156–8 Medicare 110 medication 111–12 Medicity 211 MedStartr 17 MEL (Mechanical Engineer Laboratory) 52 mental models 2, 193–203, 206, 216 Mercure 173 Merlin, Rose 127 Mestrallet, Gérard 53, 54 method (company) 81–2 Mexico 38, 56 Michelin 160 micro-factories 51–2, 52, 66, 129, 152 micro-robots 52 Microsoft 38 Microsoft Kinect 130 Microsoft Word 24 middle classes 197–8, 216 Migicovsky, Eric 137–8 Mikkiche, Karim 199 millennials 7, 14, 17, 131–2, 137, 141, 142 MindCET 165 miniaturisation 52, 53–4 Mint.com 125 MIT (Massachusetts Institute of Technology) 44–5, 107, 130, 134, 202 mobile health see m-health mobile phones 24, 32, 61, 129–30, 130, 168, 174 emerging market use 198 infrastructure 56, 198 see also smartphones mobile production units 66–7 mobile technologies 16, 17, 103, 133, 174, 200–1, 207 Mocana 151 Mochon, Daniel 132 modular design 67, 90 modular production units 66–7 Modularer Querbaukasten see MQB “mompreneurs” 145 Mondelez 158–9 Money Dashboard 125 Moneythink 162 monitoring 65–6, 106, 131 Monopoly 144 MOOCs (massive open online courses) 60, 61, 112, 113, 114, 164 Morieux, Yves 64 Morocco 207 Morris, Robert 199–200 motivation, employees 178, 180, 186, 192, 205–8 motivational approaches to shaping consumer behaviour 105–6 Motorola 56 MQB (Modularer Querbaukasten) 44, 45–6 Mulally, Alan 70, 166 Mulcahy, Simon 157 Mulliez family 126–7 Mulliez, Vianney 13, 126 multi-nodal innovation 202–3 Munari, Bruno 93 Murray, Mike 48–9 Musk, Elon 172 N Nano car 119, 156 National Geographic 102 natural capital, loss of 158–9 Natural Capital Leaders Platform 158–9 natural resources 45, 86 depletion 7, 72, 105, 153, 158–9 see also resources NCR 55–6 near-shoring 55 Nelson, Simon 113 Nemo, Sophie-Noëlle 93 Nest Labs 98–100, 103 Nestlé 31, 44, 68, 78, 94, 158–9, 194, 195 NetPositive plan 86, 208 networking 152–3, 153 new materials 47, 92 New Matter 132 new technologies 21, 27 Newtopia 32 next-generation customers 121–2 next-generation manufacturing techniques 44–6, 46–7 see also frugal manufacturing Nigeria 152, 197–8 Nike 84 NineSigma 151 Nissan 4, 4–5, 44, 199 see also Renault-Nissan non-governmental organisations 167 non-profit organisations 161, 162, 202 Nooyi, Indra 217 Norman, Donald 120 Norris, Greg 196 North American companies 216–17 North American market 22 Northrup Grumman 68 Norton, Michael 132 Norway 103 Novartis 44–5, 215 Novotel 173, 174 nudging 100, 108, 111, 117, 162 Nussbaum, Bruce 140 O O2 147 Obama, President Barack 6, 8, 13, 134, 138, 208 obsolescence, planned 24, 121 offshoring 55 Oh, Amy 145 Ohayon, Elie 71–2 Oliver Wyman 22 Olocco, Gregory 206 O’Marah, Kevin 58 on-demand services 39, 124 online communities 31, 50, 61, 134 online marketing 143 online retailing 60, 132 onshoring 55 Opel 4 open innovation 104, 151, 152, 153, 154 open-source approach 48, 129, 134, 135, 172 open-source hardware 51, 52, 89, 130, 135, 139 open-source software 48, 130, 132, 144–5, 167 OpenIDEO 142 operating costs 45, 215 Opower 103, 109, 119 Orange 157 Orbitz 173 organisational change 36–7, 90–1, 176, 177–90, 203–8, 213–14, 216 business models 190–3 mental models 193–203 organisational culture 36–7, 170, 176, 177–9, 213–14, 217 efficacy focus 181–3 entrepreneurial 76, 173 see also organisational change organisational structure 63–5, 69 outsourcing 59, 143, 146 over-engineering 27, 42, 170 Overby, Christine 25 ownership 9 Oxylane Group 127 P P&G (Procter & Gamble) 19, 31, 58, 94, 117, 123, 145, 195 packaging 57, 96, 195 Page, Larry 63 “pain points” 29, 30, 31 Palmer, Michael 212 Palo Alto Junior League 20 ParkatmyHouse 17, 63, 85 Parker, Philip 61 participation, customers 128–9 partner ecosystems 153, 154, 200 partners 65, 72, 148, 153, 156–8 sharing data with 59–60 see also distributors; hyper-collaboration; suppliers Partners in Care Foundation 202 partnerships 41, 42, 152–3, 156–7, 171–2, 174, 191 with SMBs 173, 174, 175 with start-ups 20, 164–5, 175 with suppliers 192–3 see also hyper-collaboration patents 171–2 Payne, Alex 124 PE International 196 Pearson 164–5, 167, 181–3, 186, 215 Pebble 137–8 peer-to-peer economic model 10 peer-to-peer lending 10 peer-to-peer sales 60 peer-to-peer sharing 136–7 Pélisson, Gérard 172–3 PepsiCo 38, 40, 179, 190, 194, 215 performance 47, 73, 77, 80, 95 of employees 69 Pernod Ricard 157 personalisation 9, 45, 46, 48, 62, 129–30, 132, 149 Peters, Tom 21 pharmaceutical industry 13, 22, 23, 33, 58, 171, 181 continuous manufacturing 44–6 see also GSK Philippines 191 Philips 56, 84, 100, 123 Philips Lighting 32 Picaud, Philippe 122 Piggy Mojo 119 piggybacking 57 Piketty, Thomas 6 Plan A (M&S) 90, 156, 179–81, 183–4, 186–7, 214 Planet 21 (Accor) 174–5 planned obsolescence 24, 121 Plastyc 17 Plumridge, Rupert 18 point-of-sale data 58 Poland 103 pollution 74, 78, 87, 116, 187, 200 Polman, Paul 11, 72, 77, 94, 203–5, 217 portfolio management tools 27, 33 Portugal 55, 103 postponement 57–8 Potočnik, Janez 8, 79 Prabhu, Arun 25 Prahalad, C.K. 12 predictive analytics 32–3 predictive maintenance 66, 67–8 Priceline 173 pricing 81, 117 processes digitising 65–6 entrenched 14–16 re-engineering 74 simplifying 169, 173 Procter & Gamble see P&G procurement priorities 67–8 product life cycle 21, 75, 92, 186 costs 12, 24, 196 sustainability 73–5 product-sharing initiatives 87 production costs 9, 83 productivity 49, 59, 65, 79–80, 153 staff 14 profit 14, 105 Progressive 100, 116 Project Ara 130 promotion 61–3 Propeller Health 111 prosumers xix–xx, 17–18, 125, 126–33, 136–7, 148, 154 empowering and engaging 139–46 see also horizontal economy Protomax 159 prototypes 31–2, 50, 144, 152 prototyping 42, 52, 65, 152, 167, 192, 206 public 50–1, 215 public sector, working with 161–2 publishers 17, 61 Pullman 173 Puma 194 purchasing power 5–6, 216 pyramidal model of production 51 pyramidal organisations 69 Q Qarnot Computing 89 Qualcomm 84 Qualcomm Life 112 quality 3, 11–12, 15, 24, 45, 49, 82, 206, 216 high 1, 9, 93, 198, 216 measure of 105 versus quantity 8, 23 quality of life 8, 204 Quicken 19–21 Quirky 50–1, 126, 150–1, 152 R R&D 35, 67, 92, 151 big-ticket programmes 35–6 and business development 37–8 China 40, 188, 206 customer focus 27, 39, 43 frugal approach 12, 26–33, 82 global networks 39–40 incentives 38–9 industrial model 2, 21–6, 33, 36, 42 market-focused, agile model 26–33 and marketing 34, 37, 37–8 recommendations for managers 34–41 speed 23, 27, 34, 149 spending 15, 22, 23, 28, 141, 149, 152, 171, 187 technology culture 14–15, 38–9 see also Air Liquide; Ford; GSK; IBM; immersion; Renault; SNCF; Tarkett; Unilever R&D labs 9, 21–6, 70, 149, 218 in emerging markets 40, 188, 200 R&D teams 26, 34, 38–9, 65, 127, 150, 194–5 hackers as 142 innovation brokering 168 shaping customer behaviour 120–2 Raspberry Pi 135–6, 164 Ratti, Carlo 107 raw materials see materials real-time demand signals 58, 59 Rebours, Christophe 157–8 recession 5–6, 6, 46, 131, 180 Reckitt Benckiser 102 recommendations for managers flexing assets 65–71 R&D 34–41 shaping consumer behaviour 116–24 sustainability 90–3 recruiting 70–1 recyclable materials 74, 81, 196 recyclable products 3, 73, 159, 195–6 recycled materials 77, 81–2, 83, 86, 89, 183, 193 recycling 8, 9, 87, 93, 142, 159 e-waste 87–8 electronic and electrical goods (EU) 8, 79 by Tarkett 73–7 water 83, 175 see also C2C; circular economy Recy’Go 92–3 regional champions 182 regulation 7–8, 13, 78–9, 103, 216 Reich, Joshua 124 RelayRides 17 Renault 1–5, 12, 117, 156–7, 179 Renault-Nissan 4–5, 40, 198–9, 215 renewable energy 8, 53, 74, 86, 91, 136, 142, 196 renewable materials 77, 86 Replicator 132 repurposing 93 Requardt, Hermann 189 reshoring 55–6 resource constraints 4–5, 217 resource efficiency 7–8, 46, 47–9, 79, 190 Resource Revolution (Heck, Rogers and Carroll, 2014) 87–8 resources 40, 42, 73, 86, 197, 199 consumption 9, 26, 73–7, 101–2 costs 78, 203 depletion 7, 72, 105, 153, 158–9 reducing use 45, 52, 65, 73–7, 104, 199, 203 saving 72, 77, 200 scarcity 22, 46, 72, 73, 77–8, 80, 158–9, 190, 203 sharing 56–7, 159–61, 167 substitution 92 wasting 169–70 retailers 56, 129, 214 “big-box” 9, 18, 137 Rethink Robotics 49 return on investment 22, 197 reuse 9, 73, 76–7, 81, 84–5, 92–3, 200 see also C2C revenues, generating 77, 167, 180 reverse innovation 202–3 rewards 37, 178, 208 Riboud, Franck 66, 184, 217 Rifkin, Jeremy 9–10 robots 47, 49–50, 70, 144–5, 150 Rock Health 151 Rogers, Jay 129 Rogers, Matt 87–8 Romania 2–3, 103 rookie mindset 164, 168 Rose, Stuart 179–80, 180 Roulin, Anne 195 Ryan, Eric 81–2 Ryanair 60 S S-Oil 106 SaaS (software as a service) 60 Saatchi & Saatchi 70–1 Saatchi & Saatchi + Duke 71–2, 143 sales function 15, 21, 25–6, 36, 116–18, 146 Salesforce.com 157 Santi, Paolo 108 SAP 59, 186 Saunders, Charles 211 savings 115 Sawa Orchards 29–31 Scandinavian countries 6–7 see also Norway Schmidt, Eric 136 Schneider Electric 150 Schulman, Dan 161–2 Schumacher, E.F. 104–5, 105 Schweitzer, Louis 1, 2, 3, 4, 179 SCM (supply chain management) systems 59 SCOR (supply chain operations reference) model 67 Seattle 107 SEB 157 self-sufficiency 8 selling less 123–4 senior managers 122–4, 199 see also CEOs; organisational change sensors 65–6, 106, 118, 135, 201 services 9, 41–3, 67–8, 124, 149 frugal 60–3, 216 value-added 62–3, 76, 150, 206, 209 Shapeways 51, 132 shareholders 14, 15, 76, 123–4, 180, 204–5 sharing 9–10, 193 assets 159–61, 167 customers 156–8 ideas 63–4 intellectual assets 171–2 knowledge 153 peer-to-peer 136–9 resources 56–7, 159–61, 167 sharing economy 9–10, 17, 57, 77, 80, 84–7, 108, 124 peer-to-peer sharing 136–9 sharing between companies 159–60 shipping costs 55, 59 shopping experience 121–2 SIEH hotel group 172–3 Siemens 117–18, 150, 187–9, 215, 216 Sigismondi, Pier Luigi 100 Silicon Valley 42, 98, 109, 150, 151, 162, 175 silos, breaking out of 36–7 Simple Bank 124–5 simplicity 8, 41, 64–5, 170, 194 Singapore 175 Six Sigma 11 Skillshare 85 SkyPlus 62 Small is Beautiful (Schumacher, 1973) 104–5 “small is beautiful” values 8 small and medium-sized businesses see SMBs Smart + Connected Communities 29 SMART car 119–20 SMART strategy (Siemens) 188–9 smartphones 17, 100, 106, 118, 130, 131, 135, 198 in health care 110, 111 see also apps SmartScan 29 SMBs (small and medium-sized businesses) 173, 174, 175, 176 SMS-based systems 42–3 SnapShot 116 SNCF 41–3, 156–7, 167 SoapBox 28–9 social business model 206–7 social comparison 109 social development 14 social goals 94 social learning 113 social manufacturing 47, 50–1 social media 16, 71, 85, 106, 108, 168, 174 for marketing 61, 62, 143 mining 29, 58 social pressure of 119 tools 109, 141 and transaction costs 133 see also Facebook; social networks; Twitter social networks 29, 71, 72, 132–3, 145, 146 see also Facebook; Twitter social pressure 119 social problems 82, 101–2, 141, 142, 153, 161–2, 204 social responsibility 7, 10, 14, 141, 142, 197, 204 corporate 77, 82, 94, 161 social sector, working with 161–2 “social tinkerers” 134–5 socialising education 112–14 Sofitel 173 software 72 software as a service (SaaS) 60 solar power 136, 201 sourcing, local 51–2, 56 Southwest Airlines 60 Spain 5, 6, 103 Spark 48 speed dating 175, 176 spending, on R&D 15, 22, 23, 28, 141, 149, 152, 171, 187 spiral economy 77, 87–90 SRI International 49, 52 staff see employees Stampanato, Gary 55 standards 78, 196 Starbucks 7, 140 start-ups 16–17, 40–1, 61, 89, 110, 145, 148, 150, 169, 216 investing in 137–8, 157 as partners 42, 72, 153, 175, 191, 206 see also Nest Labs; Silicon Valley Statoil 160 Steelcase 142 Stem 151 Stepner, Diana 165 Stewart, Emma 196–7 Stewart, Osamuyimen 201–2 Sto Corp 84 Stora Enso 195 storytelling 112, 113 Strategy& see Booz & Company Subramanian, Prabhu 114 substitution of resources 92 subtractive manufacturing 48 Sun Tzu 158 suppliers 67–8, 83, 148, 153, 167, 176, 192–3 collaboration with 76, 155–6 sharing with 59–60, 91 visibility 59–60 supply chain management see SCM supply chain operations reference (SCOR) model 67 supply chains 34, 36, 54, 65, 107, 137, 192–3 carbon footprint 156 costs 58, 84 decentralisation 66–7 frugal 54–60 integrating 161 small-circuit 137 sustainability 137 visibility 34, 59–60 support 135, 152 sustainability xix, 9, 12, 72, 77–80, 82, 97, 186 certification 84 as competitive advantage 80 consumers and 95, 97, 101–4 core design principle 82–4, 93, 195–6 and growth 76, 80, 104–5 perceptions of 15–16, 80, 91 recommendations for managers 90–3 regulatory demand for 78–9, 216 standard bearers of 80, 97, 215 see also Accor; circular economy; Kingfisher; Marks & Spencer; Tarkett; Unilever sustainable design 82–4 see also C2C sustainable distribution 57, 161 sustainable growth 72, 76–7 sustainable lifestyles 107–8 Sustainable Living Plan (Unilever) 94–7, 179, 203–4 sustainable manufacturing 9, 52 T “T-shaped” employees 70–1 take-back programmes 9, 75, 77, 78 Tally 196–7 Tarkett 73–7, 80, 84 TaskRabbit 85 Tata Motors 16, 119 Taylor, Frederick 71 technical design 37–8 technical support, by customers 146 technology 2, 14–15, 21–2, 26, 27 TechShop 9, 70, 134–5, 152, 166–7 telecoms sector 53, 56 Telefónica 147 telematic monitoring 116 Ternois, Laurence 42 Tesco 102 Tesla Motors 92, 172 testing 28, 42, 141, 170, 192 Texas Industries 159 Textoris, Vincent 127 TGV Lab 42–3 thermostats 98–100 thinking, entrenched 14–16 Thompson, Gav 147 Timberland 90 time 4, 7, 11, 41, 72, 129, 170, 200 constraints 36, 42 see also development cycle tinkerers 17–18, 133–5, 144, 150, 152, 153, 165–7, 168 TiVo 62 Tohamy, Noha 59–60 top-down change 177–8 top-down management 69 Total 157 total quality management (TQM) 11 total volatile organic compounds see TVOC Toyota 44, 100 Toyota Sweden 106–7 TQM (total quality management) 11 traffic 108, 116, 201 training 76, 93, 152, 167, 170, 189 transaction costs 133 transparency 178, 185 transport 46, 57, 96, 156–7 Transport for London 195 TrashTrack 107 Travelocity 174 trial and error 173, 179 Trout, Bernhardt 45 trust 7, 37, 143 TVOC (total volatile organic compounds) 74, 77 Twitter 29, 62, 135, 143, 147 U Uber 136, 163 Ubuntu 202 Uchiyama, Shunichi 50 UCLA Health 202–3 Udacity 61, 112 UK 194 budget cuts 6 consumer empowerment 103 industrial symbiosis 160 savings 115 sharing 85, 138 “un-management” 63–4, 64 Unboundary 154 Unilever 11, 31, 57, 97, 100, 142, 203–5, 215 and sustainability 94–7, 104, 179, 203–4 University of Cambridge Engineering Design Centre (EDC) 194–5 Inclusive Design team 31 Institute for Sustainability Leadership (CISL) 158–9 upcycling 77, 88–9, 93, 159 upselling 189 Upton, Eben 135–6 US 8, 38, 44, 87, 115, 133, 188 access to financial services 13, 17, 161–2 ageing population 194 ageing workforce 13 commuting 131 consumer spending 5, 6, 103 crowdfunding 137–8, 138 economic pressures 5, 6 energy use 103, 119, 196 environmental awareness 7, 102 frugal innovation in 215–16, 218 health care 13, 110, 208–13, 213 intellectual property 171 onshoring 55 regulation 8, 78, 216 sharing 85, 138–9 shifting production from China to 55, 56 tinkering culture 18, 133–4 user communities 62, 89 user interfaces 98, 99 user-friendliness 194 Utopies 91 V validators 144 value 11, 132, 177, 186, 189–90 aspirational 88–9 to customers 6–7, 21, 77, 87, 131, 203 from employees 217 shareholder value 14 value chains 9, 80, 128–9, 143, 159–60, 190, 215 value engineering 192 “value gap” 54–5 value-added services 62–3, 76, 150, 206, 209 values 6–7, 14, 178, 205 Vandebroek, Sophie 169 Vasanthakumar, Vaithegi 182–3 Vats, Tanmaya 190, 192 vehicle fleets, sharing 57, 161 Verbaken, Joop 118 vertical integration 133, 154 virtual prototyping 65 virtuous cycle 212–13 visibility 34, 59–60 visible learning 112–13 visioning sessions 193–4 visualisation 106–8 Vitality 111 Volac 158–9 Volkswagen 4, 44, 45–6, 129, 144 Volvo 62 W wage costs 48 wages, in emerging markets 55 Waitrose, local suppliers 56 Walker, James 87 walking the walk 122–3 Waller, Sam 195 Walmart 9, 18, 56, 162, 216 Walton, Sam 9 Wan Jia 144 Washington DC 123 waste 24, 87–9, 107, 159–60, 175, 192, 196 beautifying 88–9, 93 e-waste 24, 79, 87–8, 121 of energy 119 post-consumer 9, 75, 77, 78, 83 reducing 47, 74, 85, 96, 180, 209 of resources 169–70 in US health-care system 209 see also C2C; recycling; reuse water 78, 83, 104, 106, 158, 175, 188, 206 water consumption 79, 82–3, 100, 196 reducing 74, 75, 79, 104, 122–3, 174, 183 wealth 105, 218 Wear It Share It (Wishi) 85 Weijmarshausen, Peter 51 well-being 104–5 Wham-O 56 Whirlpool 36 “wicked” problems 153 wireless technologies 65–6 Wiseman, Liz 164 Wishi (Wear It Share It) 85 Witty, Andrew 35, 35–6, 37, 39, 217 W.L.


pages: 290 words: 87,549

The Airbnb Story: How Three Ordinary Guys Disrupted an Industry, Made Billions...and Created Plenty of Controversy by Leigh Gallagher

Airbnb, Amazon Web Services, barriers to entry, Ben Horowitz, Bernie Sanders, cloud computing, crowdsourcing, don't be evil, Donald Trump, East Village, Elon Musk, housing crisis, iterative process, Jeff Bezos, Jony Ive, Justin.tv, Lyft, Marc Andreessen, Mark Zuckerberg, medical residency, Menlo Park, Network effects, Paul Buchheit, Paul Graham, performance metric, Peter Thiel, RFID, Sam Altman, Sand Hill Road, Saturday Night Live, sharing economy, side project, Silicon Valley, Silicon Valley startup, South of Market, San Francisco, Startup school, Steve Jobs, TaskRabbit, the payments system, Tony Hsieh, Travis Kalanick, uber lyft, Y Combinator, yield management

In what became a valuable reverse mentorship, Donahoe also quizzed Chesky for his advice on design and innovation and on how eBay could maintain characteristics of being young and nimble. From Jeff Weiner, Chesky learned the importance of removing those managers who weren’t performing. From Salesforce.com CEO Marc Benioff he learned how to push his executive team. He also had access to an informal support group among his current-generation start-up peers, including Travis Kalanick of Uber, Drew Houston of Dropbox, Jack Dorsey of Square, and John Zimmer of Lyft, all sharing their individual lessons about everything from running start-ups to balancing friends, relationships, and other elements of young founder life. A key principle of Chesky’s sourcing strategy was to become creative with identifying just who the experts were, and seeking out sources in unexpected disciplines.

See authenticity; challenges Hyatt, 152, 153, 158 Hyers, Bill, 112, 123 I idealism, 64–65, 78–79, 97, 102, 117, 171–73 Iger, Bob, 165, 196 illegal hotels, 107, 109, 114, 115, 144 initial public offering, 196–202 in-law unit, 124 Innclusive, 102 Instant Book, 102, 159 InterContinental Hotels Group, 153 International Council of Societies of Industrial Design/Industrial Designers Society of America (IDSA), ix, 1, 7–10 interview process, 37–38 interviewing, 165–66, 170 investors in 2010, 46–48 cons of, 201 first investors, 30–33 initial public offering, 196–202 meetings with, 15, 17–18 on political challenges, 135 safety and, 93 warning letter to, 120 Wilson meeting, 29 ISIS-coordinated attacks, 77–78 IStay New York, 108 Ive, Jony, 165, 166, 196 J Jefferson-Jones, Jamila, 102 Jobs, Steve, 42, 166, 201 Johnson, Belinda, 55, 77, 108, 113, 171, 187 Jordan, Jeff, 52, 135, 184–85, 201 Joyce, Steve, 141, 153 Junger, Sebastian, 208 K Kalanick, Travis, 165 Karim, Jawed, 31 Kat (original guest), 8, 10 Katie C., 86–88 Kay “Plush,” 82–90, 95 KB Home, 204 Kelley, David, 174 key exchange, 75–76, 83, 85 Keycafe, 75–76, 132 Khan, Sadiq, 132 Kimpton, Bill, 147 King, Mark and Star, 81–82, 99 Klein, Nicholas, 227 Knife Fight (film), 124 Kokalitcheva, Kia, 130 Kondo, Marie, 77 Kong, David, 142, 144, 157, 159 Krueger, Liz, 107 Kuok, Elaine, 67–68 Kutcher, Ashton, 120, 121, 191 Kwatra, Neal, 123 L Lab, The, 179 Lacy, Sarah, 5, 20, 22, 48, 159 landlords, 107–9, 111, 119–20, 129–31, 204 Lane, Jamie, 143 launches, 7–10, 12–14, 19–20 law enforcement, 86–87, 90–93, 94 Le, Tiendung, 13, 39 leadership, 161–89 advisers and mentors, 164–65 anomalies of, 162–63 Blecharczyk and, 179–82 books on, 166, 181 Chesky’s growth as CEO, 164–74 culture, company, 182–88 Gebbia and, 174–79 new directions, 188–89 overview of, 206–8 praise for, 161–62 leases and short-term rentals, 119 LeFrak, Richard, 142 legal issues, xiv, 105–10, 116–17, 126–29, 133–37 Lehane, Chris, 77, 122–29, 133 Lencioni, Patrick, 181 Leone, Doug, 163–64, 205 liability coverage, 89, 97 Lin, Alfred, 35, 49, 166, 168 lobbying, 105, 120 logo (Bélo), 64, 65, 191 London, 132 Lopez, Jacob, 90–92 Loughlin, Barbara, 82–90, 95 Love Home Swap, 153, 154 Luca, Michael, 99–100, 103 Lynch, Kevin, 68 M Madrid incident, 90–93 Magical Trips, 191–96, 202–5 Mahaney, Mark, 198 management.


pages: 373 words: 112,822

The Upstarts: How Uber, Airbnb, and the Killer Companies of the New Silicon Valley Are Changing the World by Brad Stone

Affordable Care Act / Obamacare, Airbnb, Amazon Web Services, Andy Kessler, autonomous vehicles, Ben Horowitz, Boris Johnson, Burning Man, call centre, Chuck Templeton: OpenTable:, collaborative consumption, East Village, fixed income, Google X / Alphabet X, housing crisis, inflight wifi, Jeff Bezos, Justin.tv, Kickstarter, Lyft, Marc Andreessen, Mark Zuckerberg, Menlo Park, Mitch Kapor, Necker cube, obamacare, Paul Graham, peer-to-peer, Peter Thiel, race to the bottom, rent control, ride hailing / ride sharing, Ruby on Rails, Sand Hill Road, self-driving car, semantic web, sharing economy, side project, Silicon Valley, Silicon Valley startup, Skype, South of Market, San Francisco, Startup school, Steve Jobs, TaskRabbit, Tony Hsieh, transportation-network company, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, ubercab, Y Combinator, Y2K, Zipcar

Clare Saliba, “Scour Assets Sell for $9M,” E-Commerce Times, December 13, 2000, http://www.ecommercetimes.com/story/6043.html. 18. “FailCon 2011—Uber Case Study,” YouTube video, November 3, 2011, https://youtu.be/2QrX5jsiico. 19. Ibid. 20. Ibid. 21. Travis Kalanick, interview by Ashlee Vance, September 30, 2011. 22. “FailCon 2011—Uber Case Study,” YouTube video. 23. Ibid. 24. Michael Arrington, “Payday for Red Swoosh: $15 Million from Akamai,” TechCrunch, April 12, 2007, http://techcrunch.com/2007/04/12/payday-for-red-swoosh-15-million-from-akamai/. 25. Author’s interview with Travis Kalanick and http://fortune.com/2013/09/19/travis-kalanick-founder-of-uber-is-silicon-valleys-rebel-hero/. 26. “Travis Kalanick Startup Lessons from the Jam Pad,” YouTube video. 27. Ibid. 28. “Travis Kalanick of Uber,” This Week in Startups. 29. Ryan Graves, “1 + 1 = 3,” Uber.com, December 22, 2010, https://newsroom.uber.com/1-1-3/.

Mike DeBonis, “Uber CEO Travis Kalanick,” Washington Post, July 27, 2012, https://www.washingtonpost.com/blogs/mike-debonis/post/uber-ceo-travis-kalanick-talks-big-growth-and-regulatory-roadblocks-in-dc/2012/07/27/gJQAAmS4DX_blog.html. 14. Del Quentin Wilber and Mike DeBonis, “Ted G. Loza, Former D.C. Council Aide, Pleads Guilty in Corruption Case,” Washington Post, February 18, 2011, http://www.washingtonpost.com/wp-dyn/content/article/2011/02/18/AR2011021806843.html. 15. Travis Kalanick, “@mikedebonis We Felt That We Got Strung Out,” Twitter, July 10, 2012, https://twitter.com/travisk/status/222633686770786305; Travis Kalanick, “@mikedebonis the Bottom Line Is That @marycheh,” Twitter, July 10, 2012, https://twitter.com/travisk/status/222635403910447104. 16. Travis Kalanick, “Strike Down the Minimum Fare Language in the DC Uber Amendment,” Uber, July 9, 2012, https://newsroom.uber.com/us-dc/strike-down-the-minimum-fare/. 17.

(Courtesy of Airbnb) The Airbnb co-founders (From left: Blecharczyk, Chesky, and Gebbia) in their first offices in 2010. (Courtesy of Airbnb) A young Travis Kalanick (right) with his father, Don, mother, Bonnie, and brother, Cory. (Courtesy of Uber) A photo of Travis Kalanick performing the long jump from his 1994 Granada Hills High School Yearbook. (Courtesy of the author) Travis Kalanick from his 1994 Granada Hills High School Yearbook. (Courtesy of the author) An early screenshot in 2010 of the UberCab website. (Courtesy of the author) The early Uber crew: (left to right) Curtis Chambers, Travis Kalanick, Stefan Schmeisser, Conrad Whelan, Jordan Bonnet, Austin Geidt, Ryan Graves, and Ryan McKillen. (Courtesy of Uber) Early Uber executives Ryan Graves and Austin Geidt pondering a move.


pages: 443 words: 98,113

The Corruption of Capitalism: Why Rentiers Thrive and Work Does Not Pay by Guy Standing

3D printing, Airbnb, Albert Einstein, Amazon Mechanical Turk, Asian financial crisis, asset-backed security, bank run, banking crisis, basic income, Ben Bernanke: helicopter money, Bernie Sanders, Big bang: deregulation of the City of London, bilateral investment treaty, Bonfire of the Vanities, Boris Johnson, Bretton Woods, business cycle, Capital in the Twenty-First Century by Thomas Piketty, carried interest, cashless society, central bank independence, centre right, Clayton Christensen, collapse of Lehman Brothers, collective bargaining, credit crunch, crony capitalism, crowdsourcing, debt deflation, declining real wages, deindustrialization, disruptive innovation, Doha Development Round, Donald Trump, Double Irish / Dutch Sandwich, ending welfare as we know it, eurozone crisis, falling living standards, financial deregulation, financial innovation, Firefox, first-past-the-post, future of work, gig economy, Goldman Sachs: Vampire Squid, Growth in a Time of Debt, housing crisis, income inequality, information retrieval, intangible asset, invention of the steam engine, investor state dispute settlement, James Watt: steam engine, job automation, John Maynard Keynes: technological unemployment, labour market flexibility, light touch regulation, Long Term Capital Management, lump of labour, Lyft, manufacturing employment, Mark Zuckerberg, market clearing, Martin Wolf, means of production, mini-job, Mont Pelerin Society, moral hazard, mortgage debt, mortgage tax deduction, Neil Kinnock, non-tariff barriers, North Sea oil, Northern Rock, nudge unit, Occupy movement, offshore financial centre, oil shale / tar sands, open economy, openstreetmap, patent troll, payday loans, peer-to-peer lending, plutocrats, Plutocrats, Ponzi scheme, precariat, quantitative easing, remote working, rent control, rent-seeking, ride hailing / ride sharing, Right to Buy, Robert Gordon, Ronald Coase, Ronald Reagan, Sam Altman, savings glut, Second Machine Age, secular stagnation, sharing economy, Silicon Valley, Silicon Valley startup, Simon Kuznets, sovereign wealth fund, Stephen Hawking, Steve Ballmer, structural adjustment programs, TaskRabbit, The Chicago School, The Future of Employment, the payments system, The Rise and Fall of American Growth, Thomas Malthus, Thorstein Veblen, too big to fail, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, Y Combinator, zero-sum game, Zipcar

In Shanghai, for instance, if a driver completes twenty-five rides a week, Uber adds 110 per cent of any fare between 7 a.m. and 10 a.m., 80 per cent at rush hours, 60 per cent at weekends and 40 per cent during normal working hours. If a driver completes fifty rides a week, the subsidy is increased by another 20 percentage points all round.11 Uber’s tactics in China appear to be having some success. By mid-2015, the technology hub city of Chengdu was its biggest market in the world by number of trips and Uber’s CEO Travis Kalanick has announced plans to expand to 100 Chinese cities by the end of 2016. Still, Didi Kuaidi, which dominates China’s app-based taxi hailing market, has the financial firepower to fight back, in the form of one of China’s sovereign wealth funds and its e-commerce behemoths, Alibaba and Tencent. They can help Didi Kuaidi play the long game too. It is operating its own subsidy scheme, paying higher basic rates and bonuses for taking ten or more fares during peak periods.

Scott 1 ‘follow-on’ patenting 1 Ford, Henry 1, 2 Ford Motor Company 1 foreign direct investment 1, 2 ‘forum shopping’ 1 fossil fuel industry 1 Foucault, Michel 1 Foxconn 1, 2 fracking 1, 2 Freelancer.com 1 Freelancers Union 1 ‘freelancing’ 1, 2, 3, 4, 5, 6, 7 Friedman, Milton 1, 2, 3, 4 Gates, Bill 1, 2 GATT (General Agreement on Tariffs and Trade) 1, 2 General Electric 1, 2 General Motors 1, 2 Getaround 1 Giddens, Anthony 1 Gigwalk 1 Gilded Age 1, 2 Gilead 1, 2 GiveDirectly 1 Global Transformation 1, 2, 3, 4, 5, 6, 7 Goldman Sachs 1, 2, 3, 4, 5 Goodwin, Fred 1 Google 1, 2, 3, 4, 5, 6 GPFG (Government Pension Fund Global, Norway) 1, 2 Gramsci, Antonio 1 Great Convergence 1, 2 ‘Great Gatsby Curve’ 1 Great Transformation 1, 2, 3 Greenspan, Alan 1 Griffin Schools Trust 1 Grillo, Beppe 1 Guardian, The 1, 2 guilds 1, 2, 3 Gunster, Gerry 1 Guy, Gillian 1 Haldane, Andrew 1 Hamilton, Alexander 1 Hammurabi, King 1 Handy 1 Harberger, Arnold 1 Hardin, Garrett 1 Harris, John 1 Hartwick, John 1 Hartwick’s Rule of Inter-Generational Equity 1, 2, 3, 4, 5 Hartz IV welfare reform 1 Hassle.com 1 Hawking, Stephen 1 Hayek, Friedrich 1, 2, 3, 4 Health and Social Care Act (2012) 1 ‘helicopter money’ 1 ‘help-to-buy’ scheme 1 Henry III, King 1 heteromation 1 Hilferding, Rudolf 1 Hitler, Adolf 1 HITs (Human Intelligence Tasks) 1 Hobson, John 1 Hollande, François 1 Homejoy 1 homelessness 1, 2, 3 hoovering (of patents) 1 household debt 1, 2, 3, 4 housing debt 1 Hurd, Nick 1 Husson, Michel 1 Hutton, Will 1 ICSID (International Centre for the Settlement of Investment Disputes) 1, 2 ‘idea-intensive’ firms 1 Illich, Ivan 1 ILO (International Labour Organization) 1 IMF (International Monetary Fund) 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 Independent, The 1 individualisation 1 ‘industrial time’ regime 1 Inequality 1 inheritance tax 1 Institute for Fiscal Studies 1, 2, 3 Institute of Economic Affairs 1, 2 intellectual commons 1, 2 intellectual property branding 1 and commons 1 copyright 1 and lies of rentier capitalism 1 and lobbying 1 and revolt of precariat 1, 2, 3 trade and investment treaties 1 see also patents International Association of Political Consultants 1 International Energy Agency 1 ‘inversion deals’ 1 Investment Court System 1 ‘investment plan for Europe’ 1 IOM (International Organization for Migration) 1 IPSE (Association of Independent Professionals and the Self Employed) 1 ISA (individual savings allowance) 1 ISDS (Investor–State Dispute Settlement) 1, 2, 3, 4 ITN (Independent Television News) 1 Jackson, Michael 1 James I, King 1 Jefferson, Thomas 1, 2 Jobs (Jumpstart Our Businesses) Act (2012) 1 John, King 1 Johnson, Boris 1, 2 Jospin, Lionel 1 JP Morgan 1, 2 Juncker, Jean-Claude 1 Kalanick, Travis 1 Kay, John 1 Kennedy, John F. 1 Kent Reliance 1 Keynes, John Maynard 1, 2, 3, 4 Kids Company 1 King, Martin Luther 1 King, Matt 1 Kingfisher 1 Kinnock, Neil 1 Kinnock, Stephen 1 Klaus, Václav 1 Koch, Charles 1, 2 Koch, David 1 Kondratieff ‘long waves’ theory 1 Kraft 1 Krytyka Polityczna (Political Critique) network 1 Kwarteng, Kwasi 1 labourism 1, 2, 3, 4, 5 Lady Gaga 1 Lancers 1 landlord debt 1 Lansley, Andrew 1, 2 Laplanche, Renaud 1 Lauderdale, Earl of 1 Lauderdale Paradox 1, 2 Lawson, Nigel 1 Lazzarato, Maurizio 1 Leader’s Group 1 Lebedev, Evgeny 1 Lee, John 1 Legal and General Property 1 Legal Services Act (2007) 1 Lehman Brothers 1, 2 Lending Club 1, 2 Lenin, Vladimir 1 library services 1 Lidl 1 lies of rentier capitalism 1, 2, 3 LinkedIn 1, 2 living wage 1, 2, 3, 4 Lloyds Banking Group 1, 2 lobbying 1, 2 Lobbying Act (2014) 1 London Debt Agreement (1953) 1 London Economic Conference (1933) 1 Long-Term Capital Management 1 ‘Luddites’ 1 Lyft 1, 2, 3 McKinsey Global Institute 1, 2, 3, 4, 5 Macmillan, Harold 1 McNamara, Robert 1 Magna Carta (1215) 1, 2, 3, 4, 5, 6, 7, 8, 9 Mail on Sunday 1 Major, John 1, 2, 3 Malaysia Square (London) 1 Malthus, Thomas 1 Manafort, Paul 1 Mandelson, Peter 1 ‘market exclusivity’ 1 Marshall, Paul 1 Marshall Plan 1 Marx, Karl 1, 2 Mason, Paul 1, 2, 3, 4 mass media 1, 2, 3, 4 MeasureOne 1 Medallion Financial 1 mental health 1 Messina, Jim 1, 2 Met Patrol Plus 1 Metro 1 Microsoft 1 migration 1, 2, 3, 4, 5, 6 Milburn, Alan 1, 2, 3 Miliband, Ed 1, 2 Milner, Yuri 1 Miłosz, Czesław 1 Milstein, César 1 Mincome 1 minimum wage 1, 2, 3, 4, 5, 6 Mirrlees, James 1 Mises, Ludwig von 1, 2 Mishel, Lawrence 1 Mitterrand, François 1 Money Advice Trust 1 Monitor 1 Mont Pelerin Society (MPS) 1, 2, 3 Monti, Mario 1, 2, 3 ‘moonlighters’ 1 moral hazards 1, 2, 3 Motorola 1 MoVimento 1 Stelle (M 2S) 3 MPC (Monetary Policy Committee) 1 Mugabe, Robert 1 Murdoch, Rupert 1, 2, 3, 4 Murphy, Richard 1 NAFTA (North American Free Trade Agreement) 1, 2 NAIRU (nonaccelerating inflation rate of unemployment) 1 Nash, John 1, 2 National Audit Office 1, 2 National Council for Voluntary Organisations 1 National Crime Agency 1 National Gallery 1 National Parks and Access to the Countryside Act (1949) 1 National Trust 1 Nationwide Building Society 1 ‘natural capital’ 1 Neo-liberalism 1, 2 and commons 1, 2, 3, 4, 5, 6, 7 and democracy 1, 2, 3 and occupational dismantling 1 and revolt of precariat 1, 2, 3, 4, 5, 6 and shaping of rentier capitalism 1, 2 and subsidies 1, 2, 3, 4 New Labour 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15 New Scotland Yard 1 Newman, Maurice 1 News of the World 1 NGOs (non-governmental organisations) 1 NHS (National Health Service) 1, 2, 3 Nine Elms development (London) 1, 2 ‘non-dom’ status 1, 2 North Sea oil 1, 2, 3 North York Moors National Park Authority 1 Northern Rock 1, 2 O’Neill, Jim 1 Obama, Barack 1, 2, 3 Observer, The 1, 2 Occidental Petroleum 1 occupational dismantling 1 Occupy Movement 1, 2, 3, 4 ODI (Overseas Development Institute) 1 OECD (Organisation for Economic Co-operation and Development) 1, 2, 3, 4, 5, 6, 7, 8, 9 Ofcom 1 Office for Budget Responsibility 1, 2 offshore tax havens 1, 2, 3, 4, 5 Oil Change International 1 Ola Cabs 1, 2 Olympic Park (Stratford) 1 on-call employees 1 on-demand economy 1, 2, 3 online dispute resolution 1 ONS (Office of National Statistics) 1, 2, 3, 4 OPEC (Organization of Petroleum Exporting Countries) 1 Optum 1 Osborne, George 1 Ostrom, Elinor 1 Oxfam 1 PAC (Parliamentary Accounts Committee) 1 PACs (Political Action Committees) 1 Paine, Thomas 1 Panama Papers 1 Paolozzi, Sir Eduardo 1 Paris Convention for the Protection of Industrial Property (1883) 1 ‘participation income’ system 1 party politics 1 ‘pass-through’ structures 1 patent boxes 1 patents 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 see also intellectual property Paulson, Henry 1 payday loans 1 PayPal 1 peer-to-peer lending 1, 2, 3 PeoplePerHour 1 PEP (Personal Equity Plan) 1 Perkins, Adam 1 Permanent Wyoming Mineral Trust Fund 1 Personal Responsibility and Work Opportunity Reconciliation Act (1996) 1 PFI (private finance initiative) 1, 2, 3 Pfizer 1, 2 Pharmac 1 Philip Morris International 1, 2, 3 Phillips, A.


pages: 348 words: 97,277

The Truth Machine: The Blockchain and the Future of Everything by Paul Vigna, Michael J. Casey

3D printing, additive manufacturing, Airbnb, altcoin, Amazon Web Services, barriers to entry, basic income, Berlin Wall, Bernie Madoff, bitcoin, blockchain, blood diamonds, Blythe Masters, business process, buy and hold, carbon footprint, cashless society, cloud computing, computer age, computerized trading, conceptual framework, Credit Default Swap, crowdsourcing, cryptocurrency, cyber-physical system, dematerialisation, disintermediation, distributed ledger, Donald Trump, double entry bookkeeping, Edward Snowden, Elon Musk, Ethereum, ethereum blockchain, failed state, fault tolerance, fiat currency, financial innovation, financial intermediation, global supply chain, Hernando de Soto, hive mind, informal economy, intangible asset, Internet of things, Joi Ito, Kickstarter, linked data, litecoin, longitudinal study, Lyft, M-Pesa, Marc Andreessen, market clearing, mobile money, money: store of value / unit of account / medium of exchange, Network effects, off grid, pets.com, prediction markets, pre–internet, price mechanism, profit maximization, profit motive, ransomware, rent-seeking, RFID, ride hailing / ride sharing, Ross Ulbricht, Satoshi Nakamoto, self-driving car, sharing economy, Silicon Valley, smart contracts, smart meter, Snapchat, social web, software is eating the world, supply-chain management, Ted Nelson, the market place, too big to fail, trade route, transaction costs, Travis Kalanick, Turing complete, Uber and Lyft, uber lyft, unbanked and underbanked, underbanked, universal basic income, web of trust, zero-sum game

Uber was not only tracking its cars’ movements, it was tracking people’s movements. When Allison explained how she knew so much about his whereabouts, Sims flipped out and wrote a biting blog post about the experience. Uber has become notorious for sexual harassment among its staff and has taken drastic action to try to resolve the problem, which was a significant factor in the forced resignation of its co-founder, CEO Travis Kalanick. But this privacy issue is just as important. Not only does the company control sensitive information about the journeys people take, but senior company officials, at least in the early days of the company, showed a willingness to abuse that power. In November 2014, Uber launched an investigation into the actions of its New York general manager, Josh Mohrer, after BuzzFeed journalist Johana Bhuiyan reported that he had used the God’s view feature to monitor her movements.

Inter-American Development Bank Interledger Internet Corporation for Assigned Names and Numbers (ICANN) Internet of Things (IoT) Internet of Value Internet 3.0 Interplanetary File System (IPFS) IOTA IPFS. See Interplanetary File System (IPFS) Islamic State Israel Ito, Joichi Ivancheglo, Sergey J.P. Morgan Jagers, Chris Japan Jasanoff, Sheila JavaScript Jordan Juniper Research K320 (digital currency) Kalanick, Travis Kickstarter. See also crowdfunding know-your-customer (KYC) know-your-machine Larimer, Daniel ledger-keeping and Bitcoin double-entry bookkeeping history of triple-entry bookkeeping value of Lehman Brothers Lemieux, Victoria L. Leondrino Exchange Lessig, Lawrence Levine, Matt Lewis, Michael Lightning Network Linux Foundation Litecoin Llanos, Juan Lloyd’s of London LO3 Energy Lovejoy, James Loyyal Lubin, Joseph Ludwin, Adam Lyft Lykke Madoff, Bernie Maidsafe Malaysian Airlines flight MH370 Marshall, George C.


pages: 360 words: 101,038

The Revenge of Analog: Real Things and Why They Matter by David Sax

Airbnb, barriers to entry, big-box store, call centre, cloud computing, creative destruction, death of newspapers, declining real wages, delayed gratification, dematerialisation, deskilling, Detroit bankruptcy, Elon Musk, Erik Brynjolfsson, game design, hypertext link, informal economy, Jaron Lanier, Jeff Bezos, job automation, John Markoff, John Maynard Keynes: technological unemployment, Joseph Schumpeter, Kevin Kelly, Khan Academy, Kickstarter, knowledge economy, low cost airline, low skilled workers, mandatory minimum, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, Minecraft, new economy, Nicholas Carr, Peter Thiel, Ponzi scheme, quantitative hedge fund, race to the bottom, Rosa Parks, Second Machine Age, self-driving car, short selling, Silicon Valley, Silicon Valley startup, Skype, Snapchat, Steve Jobs, technoutopianism, Travis Kalanick, upwardly mobile, Whole Earth Catalog

While old industry giants such as General Motors and General Electric were pandering for bailouts, companies such as Twitter, which counted their staff in the dozens, were being valued at many billions of dollars. Why invest in a blue-chip company struggling to adapt, when a small investment in a tech startup could make you rich overnight? Today, it is the titans of technology—Tesla’s Elon Musk, Facebook’s Mark Zuckerberg, Uber’s Travis Kalanick—who are the new gods of capitalism. Their stories of rapid success are the subjects of best-selling biographies and Hollywood movies. Silicon Valley has supplanted Wall Street as the destination for the best and brightest. The Economist reported that in 2014, one fifth of American business school graduates went to work in technology. None of this has been lost on politicians. They pepper their speeches with talk about innovation, and sign bills to fund community Wi-Fi zones, grants to digital startups, research hubs, and technology incubators.

91 Hill, Jon, 114 Hirschfeld, James, 44–45 HMV, 13, 16 Hoarders, 97 hobby game market, 77 hobby stores, 78, 79, 85 Holley, Willie, 160 Hollywood Reporter (magazine), 72 home libraries, 128, 208, 227 Houstonia (magazine), 109 HP computers, 65 Huffington Post, 115 Huizar, Jose, 185 human assistance, preference for, 134 human-in-the-loop processes, 224 Hungry Hungry Hippos, 76 Husni, Samir, 104–105 hypercapitalism, 157 IBM computers, 65 ICQ, 217 IdeaPaint, 191 IDEO, 193, 225 Ilford film, 55, 71 I’m the Boss, 86 Impossible Project, 66, 67–70 In Wilderness Is the Preservation of the World (Thoreau), 232 independent booksellers increase in, 125 See also bookstores independent magazine publishing, 103–107 independent record stores, annual meeting of, 13 See also record stores Indigo, 127 information age, 219 information overload, 37, 111 information persistence, 191 Initiative, 108 innovation building blocks for, buzzwords in, 192 culture of, fostering, 214 deeply held values around technology and, 179 different narrative of, xvi driver of, 36 standard narrative of, trend running counter to, xiv, 155 Instacart, 166 Instagram, 62, 80, 94, 162, 170, 217, 224, 234, 235, 241 instant film photography, xv, 66, 67, 69–70 Instax camera, 70 integrative thinking, 175, 176–177, 197, 199 Intel, 163 Internet/web access to, in education, 183, 185 growing use of, economy based on, 152, 154 role in saving vinyl, 11–12, 20–21 at summer camp, 231, 235 trust and, challenge of, 145–146 view of, 46, 238 See also online entries investing, 170–172 iPads, 13, 42, 81, 84, 110, 111, 113, 132, 180, 182, 185–186, 188, 208, 234, 241 iPhone, ix, xiii, 62, 63, 73, 84, 140, 144 iPods, 7, 9, 12, 18, 19, 27, 28, 233 IRL, 237 See also reality iTunes, ix, 12, 19 Jackman School, 187–188, 203 Jackson, Wanda, 22 Jaipur, 87 job creation, 151, 152, 160, 161–166, 167, 171–173, 173 job market, 164, 165–166, 175 See also digital work; manual work Jobs, Steve, 138, 139, 206, 207–208 Johnson, Jeff, 182 Johnson, Ron, 139, 140 jukeboxes, 8, 9, 18 June Records, ix, xi–xii, 137 Kalanick, Travis, 155 Kaps, Florian “Doc,” 66–68, 69 Kartsotis, Tom, 150–151, 160, 167, 169, 172 Kassem, Chad, 17 Katigbak, Everett, 214, 215–216 Kaufman, Donna Paz, 127, 128 Kelly, Kevin, 226–230 keyboards, xvii, 186, 237 Keynes, John Maynard, 164 Khan Academy, 200 Kickbox, 208–209 Kickstarter, 43, 73, 91–92, 94, 95–96, 98 Kim, Eurie, 137, 138 Kind of Blue (album), 25 Kindle, 124, 130, 142, 143, 228 Kinfolk (magazine), 105 Kleinman, Gabe, 214 Kobo, 142 Kodak, 54, 55, 56, 57, 59, 63, 64, 71, 153 Kroger, 134 Krugman, Paul, 171 Kurtz, Michael, 13–14, 15, 16, 20 Kwizniac, 91 laboratory school, 187–188 Landor Associates, 36 Lanier, Jaron, 157 laptops early childhood education and, 182 in education, learning outcomes and, 183–185, 188, 190 See also computers Launch Monitor (blog), 111 Lazaretto (album), 21 LC-A camera, 59–60 Lechtturm, 43 LEGOs, 182, 198 Lennon, John, 26 Leslie, Jeremy, 104, 106, 111 letterpress cards/invitations, xiv letterpress printing, 44, 215 Levin, Diane, 180–181 Levin, Eric, 14 Levitin, Daniel, 37 Levy, David, ix Lexus and the Olive Tree, The (Friedman), 154 liberal arts programs, 192 Libin, Phil, 222 Lichtenegger, Heinz, 11, 17 Lieu, John, 213 Lim, Sen-Foong, 98 limitless selection, issue with, 130, 134 LinkedIn, 45, 46 Little Brother (magazine), 104–105 Live Action Role Play (LARP) retreat, 82 live performances, xv, 6, 15, 22, 27, 28 Livescribe, 47, 228 Lomographic Society International, 60 Lomography, 59–62, 64, 66, 71 Lonely Typewriter, The (Ackerman), 131 Long Good Read, The (newspaper), 116, 117 Long Tail, The (Anderson), 208 Los Angeles Times (newspaper), 185 Los Angeles Unified School District, 185–186 Lowery, David, 20 Lucas, George, 72 Lululemon, 126–127 luxury approach, 112, 114, 116, 150, 151, 168 MacArthur, Rick, 142 made-in-America approach, 150, 151, 152, 160, 167, 168 Maffé, Carlo Alberto Carnevale, 39, 40 Mag Culture (blog), 104 magazine ads, 108, 109 magazine market, 105–106 magazine publishing, 103–107, 108, 112 magazine subscription service, 103, 106 magazines ability to charge for, 109, 110, 112 circulation of, 104, 105 luxury approach to, 112–113 See also digital publications; print publications Magic cards, 78 Magnetic, 108 magnetic tape, 23, 24, 25, 72 mah-jongg, 82 manual work classic educational model for, 199 investing in, 172 skilled, manufacturing providing, 150, 151, 152, 157–158, 159–161, 167, 168, 169 standard narrative on, 154, 155, 160 value gap involving, 160, 161, 171 Mara, Chris, 24–25 Marazza, Antonio, 35–36 market logic/laws, 132–133, 140 See also capitalism Martin, Penny, 112 Matsudaira, Kate, 43 Mattel, 85 Mazzucca, Daren, 111 McAfee, Andrew, 162, 163 McAlister, Matt, 116–117 McBeth, Leslie, 198–199 McCartney, Paul, 26 MCIR (magazine), 106 McNally, Sarah, 129 McNally Jackson, 129, 148 McNally Robinson, 129 McNeish, Joanne, 188–189 Medina, Allison, 132 meditation, xv, 205–206, 207, 209–210, 210 Medium, 208, 213–214 meetings, improving, 219–220 Meetup, 220 merchandising appeal, 131–132 merchandising tactics, 133 Michaels, Mark, 9–10, 16 microphones, 83 Microsoft, 43, 154, 163, 206, 211 Microtouch, 190–191 Millar, Jay, 6, 7–8 Mille Bornes, 78 millennials, xii Milton Bradley, 76, 92 mindfulness, xv, 206, 207 Minecraft (game), 81 Mitchell, Jenny, 97 Mittelstein apprentice system, 160 Mod Notebooks, 43 Modo & Modo, 32, 33, 34 Mohawk Paper, 46 Moleskine (company), 31–32, 38, 39, 40, 41–43, 46, 47, 48–49 Moleskine notebooks appeal of, 31, 34–35, 36, 38, 39, 40, 43, 49, 111, 228 branding of, 35–36, 39, 40, 41, 48 buyers of, change in, 36–37 history of, 33–34 integration of, with digital companies, 46, 47–48, 222–223 and the notebook market, 31, 41, 43–44 sales of, 39, 41, 48, 223 Moleskinerie (blog), 38 Monocle (magazine), 112–113 monopolies, 162–163 Monopoly, 76, 77, 78, 86, 88–89 Montessori school, 208 MOO (Pleasure Cards), 45–46 MOOC (massive open online course), 201–202, 203 Moore’s Law, 225 Moross, Richard, 45, 46 motion picture film, 52, 53, 55, 56, 71–73 Motown, 6 Mousetrap, 76 movie sets and props, 72 MP3s, xvi, 7, 9, 12, 19, 23, 143, 231, 242 Mraz, Jason, 15 multiplayer gaming, massive, 77, 80–81, 83 Munchkin, 85 Murchison, Mike, 227 Muscle Shoals, 25 music, evolution of technology used to listen to, xv–xvi See also digital music; live performances; record stores; recording studios; vinyl records MusicWatch, 12, 18 Musk, Elon, 155 MySpace, 217 Nadaraja, Nish, 217, 218 Nakamura, Yoshitaka, 70 Napster, x, 12 National Bureau of Economic Research, 192 NBA Jam (game), 80 Negroponte, Nicholas, 184 neoliberalism, 153 nerd/geek culture, 14, 78, 84–85, 94, 211 Netflix, 223 Netscape, 154 New 55, 70 New York Times Magazine, 238 New York Times (newspaper), 92, 108, 110, 114–115, 136, 151, 154, 171 New Yorker (magazine), 89 NewBilt Machinery, 17 News Corp, 186 Newspaper Club, 117–120, 121 newspaper-printing plants, 117, 119–120 newspapers appeal of, 114–155, 238, 239 custom, 116, 117–120 decline of, 117, 120 integrating digital and new business models for, 116–120 online versions of, 114, 115–116 See also print publications Nicholson, Scott, 82–83 Nielsen BookScan, 142 Night (Wiesel), 130 1989 (album), 6, 18, 27, 69 nineteenth-and twentieth-century model of education, 198–199 Nintendo, 76 Noah, David, 189–190 Nolan, Christopher, 71, 72 Nook, 142, 143 Nordstrom, 44, 137, 150 Norvig, Peter, 201 nostalgia, xii, xvii, 18, 44, 46, 62, 85, 189, 221, 238, 239 notebook market, 34, 41, 43–44, 48 notebooks/journals, 31, 34, 37, 41, 43–44, 49, 72, 104, 126, 142, 149, 207, 208, 218 See also Evernote; Moleskine notebooks Observer, The (newspaper), 116 obsolescence, xiv, xv, 12, 21, 44, 153, 187 offshoring, 156, 163, 165, 167, 168 omnichannel retail strategy, 126, 134 on-demand freelance work, 164, 165–166 on-demand printing of card games, 91 of newspapers, 117 of photos, 70 One Laptop per Child (OLPC), 184, 185 O’Neal, Johnny, 85 online communities, 38, 47, 60–61, 91, 96, 146, 215, 217–218, 218, 226 See also social media/networks online education, 176, 200–202 online gaming, 76–77, 80–81, 82, 83, 94 online retailing appeal of, 124 creating brick-and-mortar stores in, xv, 137–140, 208 disadvantages of, 132, 136 See also specific retailers online schools.


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Secrets of Sand Hill Road: Venture Capital and How to Get It by Scott Kupor

activist fund / activist shareholder / activist investor, Airbnb, Amazon Web Services, asset allocation, barriers to entry, Ben Horowitz, carried interest, cloud computing, corporate governance, cryptocurrency, discounted cash flows, diversification, diversified portfolio, estate planning, family office, fixed income, high net worth, index fund, information asymmetry, Lean Startup, low cost airline, Lyft, Marc Andreessen, Myron Scholes, Network effects, Paul Graham, pets.com, price stability, ride hailing / ride sharing, rolodex, Sand Hill Road, shareholder value, Silicon Valley, software as a service, sovereign wealth fund, Startup school, Travis Kalanick, uber lyft, VA Linux, Y Combinator, zero-sum game

They would of course need to convince at least some of the common directors to go along with them, but in most cases the common board seats are controlled by the founders (since they have the most stock and therefore the most votes). Thus, removing a founder CEO will prove difficult. Some have argued that these board structures are at the heart of why there have been some high-profile CEO-board governance challenges of late in Silicon Valley. The Uber case is illustrative here. During Travis Kalanick’s tenure as CEO, Uber had established a board of directors with up to eleven seats, only seven of which were filled at the time. It’s not unusual, by the way, to have some unfilled board seats in anticipation of filling the slots as the business needs develop. Travis effectively controlled three of the seven seats, because they were filled by him, his cofounder, and a third early employee of the company likely sympathetic to Travis.

., 11 fiduciary duties and Bloodhound case, 236–239 to debt holders, 246 in difficult financing scenarios, 232, 236, 237 dual fiduciaries, 201–202, 212 duty of candor, 215 duty of care, 211–212, 215, 217 duty of confidentiality, 212–215 duty of loyalty, 212, 215, 218 and winding down the company, 246 financial crisis of 2008, 59 financial forecasts, 150–151 fixed income, 63 foreign equities, 62 foundations, 55, 57 founders adaptability of, 49 and board of directors, 97–98, 171–172 and capitalization tables, 190–191 and common stock, 93 and company vs. product-first companies, 44–45 departure of cofounders, 94–95, 96–100 egomania in, 47–48 and evaluation of early-stage companies, 43, 44, 49 founder-market fit, 45–47, 131–133 and information asymmetry, 5, 140, 275 and intellectual property, 101–103 leadership abilities of, 47–48 and product development, 49 and stock restrictions in term sheets, 181 and storytelling skills, 134 and taxation, 71 and vesting, 95–97, 99–101, 183, 186–187, 205–206 409A opinions, 205 fraud, accusations of, 218 Freenome, 128 full ratchet, 166 funds of funds, 56 general partners (GPs) and board seats, 179, 214–215 and carried interest, 74–77 and choosing a corporate structure, 93–94 and clawbacks, 80–81 co-investments of, 86–87 compensation of, 73–77 as dual fiduciaries, 202 and equity partners agreement, 88–89 and exit of VC after IPO, 267 and indemnification, 89–90 investments as domain of, 85–86 and LP–GP relationship, 70–71, 85–88 and management fee, 72–74 and managing conflicts, 214–215 obligations of, 87 and state of fund, 84 suspension of, 87–88 and vesting, 89 See also limited partnership agreement Glass-Steagall Act, 54 going to market, 135–138 good corporate governance, 206–207 Google, 10, 25, 41 Gornall, Will, 3 go-shop provisions, 239, 255 governance terms in term sheets, 196–198 Graham, Paul, 20 green shoe, 265 growth assets, 57–58, 61–63 HA Angel Fund (Horowitz Andreessen Angel Fund), 19 The Hard Thing about Hard Things (Horowitz), 18 hedge funds, 57–58, 62 Hewlett-Packard, 18–19 Hindawi, David, 46 Hindawi, Orion, 46 Horowitz, Ben and Andreessen Horowitz, 21–22, 270 angel investing, 19 aspirin/vitamin analogy of, 50 on founders’ leadership capabilities, 47 The Hard Thing about Hard Things, 18 interview with, 12–13, 14 “hurdle rates,” 83 illiquid assets, 64 incentive stock options (ISOs), 104–105, 185 indemnification, 89–90, 183, 253 inflation, 56–57, 61 inflation hedges, 58, 63 information asymmetry, 5, 140, 275 information rights, 282 initial coin offerings (ICOs), 274 initial public offerings (IPOs), 257–268 and alternative forms of financing, 108–109 and conversion to common shares, 160–161 costs involved in, 107 declining number of, 106–109, 160–161, 249 and dot.com boom/bust, 9–10, 15 effects of efficiency rules on, 107–108 and emerging growth companies (EGCs), 261–263 and exit of VC, 2, 266–267 and the green shoe, 265 and initial filing range, 17 and liquidity, 258–260, 265 and lockup agreements, 265–266 mutual funds’ impact on, 108 percentage of venture backed, 3 and pressure on public companies, 109 pricing, 263–265 process of, 260–268 and prospectus, 261, 263 and reasons to go public, 257–260 and road shows, 263 and secondary offering of shares, 267–268 time frame for, 10 Instacart, 45 Instagram, 45, 130 institutional investors, 29–30, 40–41 insurance companies, 56, 57 intellectual property, 101–103 invention and assignment agreements, 101 investment banks, 260–261 investors’ role in venture capital, 29. See also limited partners (LPs) iPhone, 130 Isabella, Queen of Spain, 53 J Curve, 75–76, 76 JOBS Act (2012), 36, 261, 263 jobs created by venture-backed companies, 4 Kalanick, Travis, 172–173 Kauffman Foundation, 4 Kelleher, Herb, 46–47 Kerrest, Frederic, 132 Keynes, John Maynard, 17 last round valuation method, 77, 78–79 law firms and attorneys, 91, 102, 125, 286 Lehman Brothers, 12 Levandowski, Anthony, 102 liability and business judgement rule (BJR), 216–218, 222 and compliance and good corporate governance, 206–207 and D&O insurance, 183 and WARN statutes, 243 and winding down the company, 243–245 life cycle of venture capital, 7–8, 114–115, 268 life cycles of funds, 66–67, 68, 152 limited liability companies (LLCs), 93 limited partners (LPs), 53–68, 69–90 about, 69–71 benchmarks of, 54 capital raised from, 2 and clawbacks, 80–81 and co-investments of general partners, 86–87 and dot.com boom, 10 and exit of VC after IPO, 266–267 goals of, 56 and GP–LP relationship, 70–71, 85–88 inflation’s effect on success of, 56–57 relationship of VCs to, 69–71 and secondary offering of shares, 268 and suspension of GPs, 87–88 and taxation, 70–71, 93, 94 types of, 54–57 types of investments made by, 57–59 Yale University endowment, 54, 59–65 limited partnership agreement (LPA), 71–83 and carried interest, 74–77, 82 on expectations for GP, 87 and GP–LP relationship, 85–88 “hurdle rates” in, 83 on investment domain, 85–86 and J Curve, 75–76, 76 and management fee, 72–74, 81 “preferred returns” in, 83 recycling/reinvesting provisions in, 81 on suspension of GPs, 87–88 and valuation marks, 76–83 liquidation, voting on, 176–177 liquidation preference and comparing finance deals, 192–193 and conversion of preferred shares to common shares, 162–163, 164 and preferred shareholders, 162–163, 177 reducing/eliminating, in difficult financings, 177, 234–236, 240 and term sheets, 155–159, 279 liquidity, 258–259, 265–266 Livingston, Jessica, 20 lockup agreements, 265–266 LoudCloud, 12–18 author’s experience at, 2, 12–13, 14–15 business of, 13 decision to go public, 15–17 EDS’s acquisition of, 18 valuation of, 121–122 loyalty, duty of, 212, 215, 218 Lyft, 45, 127–128 management fees, 72–74, 81 management incentive plans and Bloodhound case, 237–239 and double-dipping prohibition, 241–242 following difficult financings, 241–242 and Trados case, 221, 226–227, 229–230 wrong incentives created with, 242 market checks, 237, 238, 239 market size and Airbnb, 52, 127 and evaluation of early-stage companies, 50–52 and Lyft, 127–128 and pitching to venture capitalists, 127–130 and raising money from venture capitalists, 114–115 McKelvey, Jim, 133 McKinnon, Todd, 132 median ten-year returns in venture capital, 30 mergers & acquisitions.


pages: 337 words: 101,440

Revolution Française: Emmanuel Macron and the Quest to Reinvent a Nation by Sophie Pedder

Airbnb, Berlin Wall, Bernie Sanders, bike sharing scheme, centre right, disruptive innovation, Donald Trump, Downton Abbey, Erik Brynjolfsson, eurozone crisis, failed state, Fall of the Berlin Wall, ghettoisation, haute couture, Jean Tirole, knowledge economy, liberal capitalism, mass immigration, mittelstand, new economy, post-industrial society, rent-seeking, ride hailing / ride sharing, Second Machine Age, sharing economy, Silicon Valley, Travis Kalanick, urban planning, éminence grise

No owner of this precious resource was going to give it up without a fight. The upshot was gridlock. Back in 2008, the bipartisan Attali Commission, for which Emmanuel Macron was a rapporteur, had argued for a deregulation of the taxi industry. But, thanks to its mighty lobby, the advice came to nothing. Such was the scarcity of taxis on the streets of Paris that the concept of Uber was actually dreamt up in the French capital, one wintry evening in 2008, when Travis Kalanick and Garrett Camp were in town for a tech conference, known as Le Web, and couldn’t find a cab. They hit upon the idea of a ride-hailing app, and a year later launched Uber in America. When the French government finally deregulated the chauffeur-driven car sector, it initially put in place a raft of restrictions, which Uber proceeded to breach. Exasperated, the police raided Uber’s premises.

INDEX Abel, Olivier here Adenauer, Konrad here Agir pour l’Ecole here Alduy, Cécile here Allard, Mathilde here Aly, Guillaume here Amiens here description of here, here Henriville here, here, here La Providence Catholic school here, here, here, here launch of En Marche here, here, here 2017 presidential election campaign here Arnault, Bernard here Aschenbroich, Jacques here al-Assad, Bashar here, here Asselineau, François here Association for the Renewal of Political Life, The here Attali, Jacques here, here Attali Commission here, here, here, here, here Aubry, Martine here, here, here, here Auzière, André-Louis here, here, here Auzière, Brigitte here, here, here: see also Macron, Brigitte Auzière, Laurence here, here Auzière, Sébastien here Auzière, Tiphaine here, here, here Aymard, Léonard here Badinter, Robert here Balibar, Etienne here Bande de Filles (film) here banlieues here, here, here, here, here Avignon here Clichy-sous-Bois, Paris here Décines-Charpieu, Lyon here Lyon here, here Paris here, here, here, here, here, here, here Seine-Saint-Denis, Paris here Sevran, Paris here, here Trappes, Paris here unemployment here Vaulx-en-Velin, Lyon here Barbier, Christophe here Barre, Raymond here Barthes, Roland here, here, here Bastiat, Frédéric here Bastille Day military parade (2017) here, here, here, here, here Sarkozy and (2008) here terrorist attack (2016) here Baverez, Nicolas here, here Bayeux Tapestry here, here, here Bayrou, François here, here, here Berger, Laurent here Bertelsmann Stiftung here Berville, Hervé here, here Bessière, Sylvianne here Besson, Philippe here, here, here Bigorgne, Laurent here, here, here, here, here, here Binaisse, Eugène here BlaBlaCar here Blair, Tony here, here, here, here, here, here Blanquer, Jean-Michel here, here, here, here, here, here Blondel, Marc here Blum, Léon here Bolhuis, Véronique here Bolloré, Vincent here Bonnell, Bruno here, here, here, here, here Bordes, Antoine here Bourgi, Robert here Bousquet de Florian, Pierre de here Bouvet, Laurent here Brabeck, Peter here Brexit here, here, here, here, here, here, here, here Brice, Laurent here Briois, Steeve here Britain, see Brexit and Europe Brown, Gordon here, here Bruckner, Pascal here Bruni, Carla here Brynjolfsson, Erik: The Second Machine Age here Bugatti, Ettore here Bugatti production site, Molsheim here Buzyn, Agnès here Cahuzac, Jérôme here Cambadélis, Jean-Christophe here Cameron, David here Camos, Sylvain here Camp, Garrett here Campbell, Alastair here Canard Enchaîné, Le: Penelopegate here, here Canto-Sperber, Monique here car industry here Carrère, Emmanuel here, here, here Castries, Henri de here centrism here, see also Third Way politics CFDT (Confédération Française Démocratique du Travail) here CGT (Confédération Générale du Travail) here, here, here Chaban-Delmas, Jacques here, here Chamboredon, Jean-David here Charbonnier, Eric here Chevènement, Jean-Pierre here Chirac, Jacques here, here, here, here, here, here, here, here, here, here and wealth tax here, here climate change here, here, here Clinton, Bill here, here, here Code du Travail here cohabitation here Cohen, Elie here Colbert, Jean-Baptiste here Collomb, Gérard here Confédération Française Démocratique du Travail (CFDT) here Confédération Générale du Travail (CGT) here, here, here Constant, Benjamin here contrat première embauche (CPE) here Cour des Comptes here, here, here Crozier, Michel here Dalongeville, Gérard here Dardel, Frédéric here Dargnat, Christian here, here, here, here, here, here, here, here, here, here, here Dartevelle, Renaud here, here, here, here, here, here, here Dauenhauer, Bernard here de Filippo, Eduardo: L’Art de la Comédie here de Gaulle, Charles here, here, here, here, here, here de Jean, Pierre, see Jean, Pierre de de Villepin, Dominique, see Villepin, Dominique de Delors, Jacques here Delpla, Jacques here, here Denormandie, Julien here, here, here Depardieu, Gérard here Depardon, Raymond here deuxième gauche here digital era artificial intelligence here digital economy here, here, here digital revolution here Dosse, François here Duhamel, Alain here Dworkin, Ronald here Ecole Nationale d’Administration (ENA) here, here Ecole Normale Supérieure here, here economy here, here, here business here competition here digital revolution here industrial policy here labour market here labour reforms here, here politics of taxation here potential for growth here public sector here, here public spending here, here, here, here, here start-ups here, here, here, here see also industry EDP (excessive deficit procedure) here education baccalauréat here, here, here, here, here, here 42 (school) here higher education here lycées here, here, here reforms here, here see also grandes écoles Elysée Palace here, here, here salon doré here, here Emelien, Ismaël here, here, here, here, here, here, here, here, here, here En Marche (On the Move) here, here, here beginnings of here door-to-door canvassing here, here, here finances here Grande Marche (2016) here, here, here, here, here hacking of here launch of here, here, here political positioning of here, here structure of here, here, here victory of here ENA (Ecole Nationale d’Administration) here, here Etienne, Philippe here, here Europe here Athens speech here Brexit here, here, here, here Britain here, here, here, here Central and Eastern Europe here defence here, here EDP here eurozone here France and here, here, here Germany here, here reform of here, here Sorbonne speech here excessive deficit procedure (EDP) here Fabius, Laurent here Fadell, Tony here Fairey, Shepard here Ferracci, Marc here, here, here, here, here, here Ferry, Jules here, here Fête de la Rose, Frangy-en-Bresse here Fiévet, Jean-Marie here Fillon, François here, here Penelopegate here political views here 2017 presidential election campaign here, here, here, here Finance Ministry, Bercy here, here, here, here, here, here, here, here financial crisis (2008) here, here Finkielkraut, Alain here FN, see National Front Force Ouvrière here foreign policy here Africa here climate change here Europe, see Europe Middle East here USA here Fort, Sylvain here, here, here Fottorino, Eric here Fouré, Brigitte here Fourquet, Jérôme here, here Frangy-en-Bresse: Fête de la Rose here Front National, see National Front Gaci, Azzedine here Gaddafi, Muammar here Gantzer, Gaspard here, here, here Garicano, Luis here Gatignon, Stéphane here Gauchet, Marcel here Gayet, Julie here Ghosn, Carlos here Giddens, Anthony here, here Giesbert, Franz-Olivier here, here Girier, Jean-Marie here Giscard d’Estaing, Valéry here, here, here, here, here globalization here, here, here, here Gnao, Ange-Mireille here Goldman, Jean-Jacques here Gomes, Christophe here Goulard, Sylvie here Gracques here, here grandes écoles Ecole Centrale here Ecole Nationale d’Administration (ENA) here, here Ecole Normale Supérieure here, here Ecole Polytechnique here, here ESSEC here, here, here HEC here, here Mines ParisTech here, here Sciences Po here, here, here, here, here, here, here Gravier, Jean-François: Paris et le désert français here Grelier, Jean-Carles here Griveaux, Benjamin here, here, here, here, here, here Guerini, Stanislas here Guibert, Pauline here Guilluy, Christophe here Haine, La (film) here, here Hallyday, Johnny here, here Hamon, Benoît here, here, here Hariri, Saad here Hazareesingh, Sudhir here Heisbourg, François here, here, here, here Hénin-Beaumont, see National Front Henrot, François here Hermand, Henry here, here Hesse, Hermann: ‘Stufen’ here Hidalgo, Anne here Hollande, François here, here, here, here, here, here, here, here, here, here, here déchéance here election campaigns here, here, here, here foreign policy here, here, here legalisation of gay marriage here and Macron’s resignation here and private life here and taxation here, here, here and terrorism here, here and Un président ne devrait pas dire ça here Houellebecq, Michel here, here, here The Elementary Particles here Hugo, Victor here industry here car industry here luxury products here new businesses here state and here 35-hour working week here, here, here, here, here, here Inspection Générale des Finances here Institut Montaigne report (2004) here Jean, Guy de here Jean, Pierre de here, here Joffrin, Laurent here Jospin, Lionel here, here, here Jouyet, Jean-Pierre here, here, here, here, here, here Judis, John here Julliard, Jacques here July, Serge here Juncker, Jean-Claude here Juppé, Alain here, here, here, here, here, here conviction for political corruption here plan Juppé here 2017 presidential election campaign here, here, here Kalanick, Travis here Kara, Yacine here Kasbarian, Guillaume here Kassovitz, Mathieu here, here Kepel, Gilles here El-Khatmi, Amine here Kimelfeld, David here Kohler, Alexis here, here Kuchna, Patrice here Kundera, Milan: Jacques et son Maître here Kurtul, Mahir here Laffont, Jean-Jacques here laïcité here Laine, Mathieu here, here, here Lamy, Pascal here, here, here, here Landier, Augustin here Le Bras, Hervé here, here Le Feur, Sandrine here Le Maire, Bruno here, here Le Pen, Jean-Marie here, here, here, here, here, here Le Pen, Marine here, here, here, here, here, here, here, here and FN here in Hénin-Beaumont here, here, here and political realignment here 2017 presidential election campaign here, here, here, here, here, here, here, here Le Pen, Marion Maréchal see Maréchal-Le Pen, Marion Lecanuet, Jean here LeLarge, Claire here liberalism here, here, here Liegey, Guillaume here, here, here, here, here Lienemann, Marie-Noëlle here Littiere, Mickaël here London School of Economics here, here, here, here Louvre: Cour Napoléon here, here, here, here Love, Courtney here Lycée Henri IV, Paris here Lyon here banlieues here, here Maastricht Treaty here, here, here McAfee, Andrew: The Second Machine Age here Machiavelli, Niccolò here Macron, Brigitte here, here, here, here, here, here after-school theatre club here marriage here, here parental opposition to here Macron, Emmanuel after-school theatre club here and Britain here, here, here caricatures of here and déchéance here early life here economic adviser to Hollande here, here, here economy minister here, here, here, here education here, here, here, here, here election of here En Marche, see En Marche ‘en même temps’ here, here and Europe, see Europe essay in Esprit here family background here and foreign policy, see foreign policy gay rumours here and globalization here, here, here and grandmother, here, here, here, here, here, here iconography here inauguration ceremony here insulting comments here, here, here interviews with, as President here, here, here, here, here, here, here and Jupiterian presidency here, here, here karaoke here and labour reform here, here, here leadership/personal qualities here on literature here loi Macron here, here marriage here, here and Merkel here, here, here, here, here, here, here and music here and networking here, here novels, own here, here optimism of here parental opposition to Brigitte Auzière here, here, here, here and philosophy here, here, here and political realignment here 2017 presidential election campaign here, here, here public-speaking performance here relationship with Brigitte here, here, here, here Rothschild’s here and tech industry here and Third Way politics here and Trump here, here, here, here, here, here, here, here, here, here and welfare state here Macron, Estelle here Macron, Françoise (née Noguès) here, here, here, here, here Macron, Jean-Michel here, here, here, here, here Macron, Laurent here Madelin, Alain here Mahjoubi, Mounir here Mailly, Jean-Claude here mal français here Malandain, Guy here Malraux, André here Mandelson, Peter here Manette, see Noguès, Germaine Maréchal-Le Pen, Marion here Marguet, Antoine here, here, here, here Martinez, Philippe here May, Theresa here, here Mazzella, Frédéric here, here, here melancholy here Mélenchon, Jean-Luc here, here, here, here, here, here, here, here Merchet, Jean-Dominique here Mercier, Hugo here Merkel, Angela here, here, here, here, here, here, here Mihi, Samir here Minc, Alain here, here, here Mines ParisTech here, here Miquel, Emmanuel here, here, here Mitterrand, François here, here, here, here, here, here, here, here, here, here mobile telephony here, here Molière (Jean-Baptiste Poquelin): Le Misanthrope here Monnet, Jean here Montebourg, Arnaud here, here, here, here Moreau, Florence here Moscovici, Pierre here Moustaki, Georges: ‘Le Métèque’ here Muller, Arthur here Musée des Confluences here Nanterre, University of here, here Napoleon Bonaparte here, here, here, here, here National Centre for Counter-Terrorism here National Front (FN) here, here, here, here, here, here, here in Hénin-Beaumont here see also Le Pen, Marine NATO here, here, here Ndiaye, Sibeth here, here Niel, Xavier here, here, here, here, here Noguès, Germaine (Manette) here, here, here, here, here Noguès, Jean here Nora, Pierre here nuclear industry here, here O, Cédric here Obama, Barack here, here, here ‘Hope’ portrait here Obey (Shepard Fairey) street art here Oudéa, Frédéric here Paque, Sophie here, here Paris-Descartes, University of here Paulson, Lex here, here Pébereau, Michel here Penelopegate here Pénicaud, Muriel here, here, here Permanent Structured Cooperation (PESCO) here Pervis, Patrick here Peyrefitte, Alain here Philippe, Edouard here, here, here Piette, Jacques here Piketty, Thomas here, here Piochon, Christophe here PIRLS international study of reading (2016) here Pisani-Ferry, Jean here political realignment here Pompidou, Georges here, here Pons, Vincent here Poujade, Pierre here poverty here, here anti-poverty policy here, here, here in banlieues here presidential election campaign (2017) here, here Amiens here Prochasson, Christophe here public spending here, here, here, here, here Putin, Vladimir here, here, here radicalization here Rawls, John here reforms here, here under Chirac here, here under Sarkozy here under Hollande here education here, here and Europe here and eurozone here, here, here, here, here, here, here and labour market here, here, here, here regional France here FN in here Hénin-Beaumont here Lyon here, here, here policies to reunite here regional cities here Republicans, The here, here, here, here Reza, Yasmina here Ricoeur, Paul here, here, here Robert, Father Philippe here, here, here Robertson, George here Rocard, Michel here, here, here, here Rothschild & Cie here Rothschild, David de here, here Rouart, Jean-Marie here Royal, Ségolène here, here, here Rutte, Mark here Sablon, Sandy here Sadirac, Nicolas here, here, here Saint-Exupéry, Antoine de here, here Saint Gobain mirror factory here, here Saint-Simon, Henri de here Salafism here Salhi, Yassin here Sandberg, Sheryl here Santerre, Jean here, here Sarkozy, Cécilia here Sarkozy, Nicolas here, here, here, here, here, here, here, here foreign policy here, here, here private life here, here 2017 presidential election campaign here, here, here, here and reforms here Sartre, Jean-Paul here Say, Jean-Baptiste here Schröder, Gerhard here Schuman, Robert here Sciamma, Céline here Sciences Po, Paris here, here, here, here, here, here, here Séjourné, Stéphane here Sen, Amartya here, here Shety, Loic here Simoncini, Marc here Socialist Party here, here, here, here, here, here, here, here, here, here, here, here, here Spitz, Bernard here, here, here start-ups, see digital era and taxation and tech Stefanini, Patrick here Strauss-Kahn, Dominique here strikes, see unions and reforms Studer, Bruno here, here, here Sunday trading here, here see also loi Macron Szydlo, Beata here Taquet, Adrien here, here, here, here, here Tardieu, Jean: La Comédie du Langage here taxation here, here, here, here Chirac and here, here Hollande and here, here, here, here Macron and here, here, here, here, here politics of here Sarkozy and here, here and tech here, here, here, here, here wealth tax here, here, here, here, here, here taxis in Paris here, here Uber here, here, here, here Taylor, Maurice here Teixeira, Ruy here terrorist attacks here, here, here counter-terrorism law here Thatcher, Margaret here, here Third Way politics here Thomson, David here, here, here Tirole, Jean here Tocqueville, Alexis de here Toulouse School of Economics (TSE) here, here, here Trierweiler, Valérie here, here Trogneux, Jean here Trogneux chocolate business here, here Trump, Donald here, here, here, here, here, here, here, here, here, here TSE (Toulouse School of Economics) here, here, here Uber here, here, here protests against here unemployment here, here, here, here, here, here, here, here Amiens here banlieues here Calais here Chirac and here, here FN and here, here Hénin-Beaumont here Hollande and here Macron and here, here, here, here Uber and here Vaulx-en-Velin here unions, see CFDT, CGT, reforms Unsubmissive France (La France Insoumise) here, here, here Vallée, Shahin here Valls, Manuel here, here, here, here, here, here and terrorism here, here, here 2017 presidential election campaign here, here, here Van Reenen, John here Veil, Simone here Veneau, Jérôme here Vercors (Jean Bruller): Le silence de la mer here Versailles, Palace of: May 2017 meeting with Putin here, here Villepin, Dominique de here, here, here Villeroy de Galhau, François here Voltaire (François-Marie Arouet): Candide here Vuillemot, Jérôme here Weber, Max here Weinberg, Serge here, here welfare state here Wilders, Geert here Xi Jinping here, here Zeugin, Sophie here, here A NOTE ON THE AUTHOR Sophie Pedder has been the Paris Bureau Chief of The Economist since 2003.


pages: 411 words: 98,128

Bezonomics: How Amazon Is Changing Our Lives and What the World's Best Companies Are Learning From It by Brian Dumaine

activist fund / activist shareholder / activist investor, AI winter, Airbnb, Amazon Web Services, Atul Gawande, autonomous vehicles, basic income, Bernie Sanders, Black Swan, call centre, Chris Urmson, cloud computing, corporate raider, creative destruction, Danny Hillis, Donald Trump, Elon Musk, Erik Brynjolfsson, future of work, gig economy, Google Glasses, Google X / Alphabet X, income inequality, industrial robot, Internet of things, Jeff Bezos, job automation, Joseph Schumpeter, Kevin Kelly, Lyft, Marc Andreessen, Mark Zuckerberg, money market fund, natural language processing, pets.com, plutocrats, Plutocrats, race to the bottom, ride hailing / ride sharing, Sand Hill Road, self-driving car, shareholder value, Silicon Valley, Silicon Valley startup, Snapchat, speech recognition, Steve Jobs, Stewart Brand, supply-chain management, Tim Cook: Apple, too big to fail, Travis Kalanick, Uber and Lyft, uber lyft, universal basic income, wealth creators, web application, Whole Earth Catalog

In all likelihood, Bezos thinks of himself as a good guy, creating jobs and donating billions to charity. That’s little solace, however, to those who have been crushed by Amazon’s wheel as well as to the politicians who represent them. A rising tide of political antipathy toward Amazon could someday dramatically alter its trajectory. Bezos is not alone in displaying big tech hubris. Other Internet titans, such as Facebook’s Mark Zuckerberg, Uber’s cofounder and ex-CEO Travis Kalanick, and Google’s cofounder and CEO Larry Page at times have displayed the same Silicon Valley social blindness. All are brilliant technologists who feel more comfortable with things they can quantify rather than with things they can’t, such as human emotions. While at Uber’s helm, Kalanick had a “Don’t ask for permission but beg for forgiveness” attitude, sometimes flouting local regulations to expand his car-hailing service and leaving a trail of upset community members behind him.

See also wealth gap Sanders’s criticism of Amazon for, 240–41 Indeed.com, 131 India, 14, 66, 189, 221, 271 Infinity Cube, 37–38 influencers, 210 innovation, and flywheel, 80–81 Instagram, 194, 197 addictive nature of, 17, 18 feature for selling directly to customers, 211 Lulus’s influencers on, 210–11 Instant Pot electric multicooker, 151 Institute for Local Self-Reliance, 148 insurance industry Amazon’s entry into, 219, 228, 234, 236 Ant Financial in, 235 robo-advisory services in, 235 Intel, 51 Internet addiction to, 18 Bezos’s early interest in, 39 business models based on, 125 cloud computing services on, 25 DARPA and creation of, 34 home health care using, 223 HTTP standards for, 125 voice access to, 112 Internet of Things, 123–24, 270 iOS operating system, 14, 225 iPhone, 26, 64, 69, 108, 110, 117, 199 ITT, 216 Iverson, Ken, 5 iWatch, 222 Iyengar, Sheena, 21 Jabra, 111 JANA Partners, 168 Jassy, Andy, 44, 51–52, 63 JD.com AI Internet-connected devices from, 124 AI skills and customer knowledge of, 8, 124, 270 Amazon’s competition with, 266 delivery drones used by, 178 global spheres of influence with, 188–89 warehouse with robots of, 136–38 Jentoft, Leif, 139 JetBlack delivery service, Walmart, 190–91 Jet.com, 54, 183–84, 185 jobs AI-driven tech giants and, 271 AI’s impact on, 143, 248, 267 automation and, 9, 12, 126–27, 141–43, 241–42, 248, 267 Bezos as focal point for concerns about losses of, 126 drone deliveries and, 124 interconnected devices and, 124 new technologies and, 143–44 robots and, 11, 29, 127, 144, 270 technology’s disruption of, 127 universal basic income and, 248–49 wage changes in, 127 Jobs, Steve, 26, 53, 55, 110 Joly, Hubert, 204 Jorgensen, Ted, 31–32 Joy, Lisa, 102 JPMorgan Chase, 27, 227, 234, 236 Julie talking dolls, 107 Juniper Research, 220 Juno Therapeutics, 217 Kabbani, Nader, 226 Kalanick, Travis, 57–58 Kantar, 16, 168 KFC restaurants, China, 198, 199 Khalifah, Saoud, 159–60 Khan, Lina, 258–59 Khanna, Ro, 243 Khosrowshahi, Dara, 8 Kindle e-readers, 26, 31, 47, 65, 66, 74, 76, 80, 81, 82, 105, 217, 226 King, Martin Luther Jr., 249 Kiva robots, 128 Koch, David and Charles, 250 Kosmo.com, 64, 65 Kraft Heinz, 267 Kroger, 5, 24, 136, 141, 168, 175, 176 Lake, Katrina, 206, 207–8 Lennar, 218 Liu, Richard, 178 Livongo Health, 229 Long Now Foundation, 71 long-term management in Bezonomics, 76, 88 long-term view AI flywheel and, 71, 81–82, 269 Amazon innovation lab and, 224 Amazon’s use of, 3, 61–64, 65–66 AWS example of, 63–64 Bezos and, 59, 61–66 Blue Origin project and, 68 employees’ need for, 63 machine learning on cancers and, 223 new delivery technologies and, 174 philanthropy strategy and, 251 profitability and, 61–62 pushes into new sectors and, 236 shopping on Alexa and, 116 10,000-year clock and, 70–71 Walmart’s JetBlack project and, 191 Lord of the Rings, The (Tolkien), 101 Lore, Marc, 54–55, 183–88, 189, 190, 191, 192 Los Angeles Times, 207 Lot-Less Closeouts stores, 167 Loup Ventures, 110 Lululemon, 190 Lulus, 9, 194, 209–11, 213 luxury retailers, 9, 200–2 LVMH, 205 Lyft, 23 Ma, Tony, 90 machine learning Alexa voice recognition and, 113–14 Amazon’s application of, 270 Bezos on power of, 83 black box and, 91, 147 decision-making and, 87 fake review detection with, 160 flywheel model and, 5, 83–84, 85 health-care industry and, 223 voice recognition and, 109 Machine Learning service business, Amazon, 218 Mackey, John, 164 Man in the High Castle, The (TV series), 102–3 Marcus, James, 41, 45 Marketplace, 52 Amazon Lending loans to small businesses on, 234 Bezos’s creation of, 42 number of businesses on, 10 third-party merchants on, 42 Marketplace Pulse, 262 MarketWatch, 208 Marriott Hotels, 143 Max Borges Agency, 15–16, 19 McCabe, Chris, 153 McCarthy, John, 107 McGrath, Judith, 66 McKinsey & Company, 126, 174, 181, 215 McMillon, Doug, 185–86 McWhorter, John, 120 medical records project, 225 medicine.


pages: 393 words: 91,257

The Coming of Neo-Feudalism: A Warning to the Global Middle Class by Joel Kotkin

Admiral Zheng, Andy Kessler, autonomous vehicles, basic income, Bernie Sanders, call centre, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, Cass Sunstein, clean water, creative destruction, deindustrialization, demographic transition, don't be evil, Donald Trump, edge city, Elon Musk, European colonialism, financial independence, Francis Fukuyama: the end of history, gig economy, Gini coefficient, Google bus, guest worker program, Hans Rosling, housing crisis, income inequality, informal economy, Jane Jacobs, Jaron Lanier, Jeff Bezos, job automation, job satisfaction, Joseph Schumpeter, land reform, liberal capitalism, life extension, low skilled workers, Lyft, Mark Zuckerberg, market fundamentalism, Martin Wolf, mass immigration, megacity, Nate Silver, new economy, New Urbanism, Occupy movement, Parag Khanna, Peter Thiel, plutocrats, Plutocrats, post-industrial society, post-work, postindustrial economy, postnationalism / post nation state, precariat, profit motive, RAND corporation, Ray Kurzweil, rent control, Richard Florida, road to serfdom, Robert Gordon, Sam Altman, Satyajit Das, sharing economy, Silicon Valley, smart cities, Steve Jobs, Stewart Brand, superstar cities, The Death and Life of Great American Cities, The Future of Employment, The Rise and Fall of American Growth, Thomas L Friedman, too big to fail, trade route, Travis Kalanick, Uber and Lyft, uber lyft, universal basic income, unpaid internship, upwardly mobile, We are the 99%, Wolfgang Streeck, women in the workforce, working-age population, Y Combinator

Most, Ferenstein adds, believe that an “increasingly greater share of economic wealth will be generated by a smaller slice of very talented or original people. Everyone else will come to subsist on some combination of part-time entrepreneurial ‘gig work’ and government aid.”11 Ferenstein says that many tech titans, in contrast to business leaders of the past, favor a radically expanded welfare state.12 Mark Zuckerberg, Elon Musk, Travis Kalanick (former head of Uber), and Sam Altman (founder of Y Combinator) all favor a guaranteed annual income, in part to allay fears of insurrection by a vulnerable and struggling workforce. Yet unlike the “Penthouse Bolsheviks” of the 1930s, they have no intention of allowing their own fortunes to be squeezed. Instead, the middle class would likely foot much of the bill for guaranteed wages, health care, free college, and housing assistance, along with subsidies for gig workers, who do not receive benefits from their employers.13 This model could best be described as oligarchical socialism.

Hollywood homeownership; decline in; subsidies for Hong Kong; democracy in; land use in; Houellebecq, Michel Howard, Ebenezer Hudson-Smith, Andrew Hungary Hung Hsiu-ch’uan Huntington, Samuel Hurricane Katrina Hus, Jan Huxley, Aldous IBM Ideal Communist City, The (Gutnov) Immortal Life (Bing) India; caste system; democracy in; illiberalism in; Mumbai industrial revolution; and China; Marx on; and pollution; and working class inheritance Instagram Institute for Creative Technologies Intel International Panel on Climate Change (UN) intersectionality Islam & Muslims; in China; and Crusaders; in Europe Italy Jackson, Andrew Jacobs, Jane Japan; bureaucracy of; demographics of; irregular work in; “misery index” in; Osaka; peasant rebellions in; pessimism in; post-familialism in; single-person households in; Tokyo Jobs, Steve John of Salisbury Judaism & Jews; entrepreneurship of; in Netherlands; Orthodox; prejudice against; Reform Jung, Edgar Juvenal Kalanick, Travis Kaminska, Izabella Kapital, Das (Marx) Keats, John Kepel, Giles Kimmelman, Michael King, Maggie Shen Koenig, Gaspard Koonin, Steven Kristol, Irving Kurzweil, Ray labor unions Land and the Ruling Class in Hong Kong (Poon) landownership; concentration of Lanier, Jaron Larson, Christina Lawrence, D. H. Lebovics, Herman Lee, Kai-Fu Lee, William Lee Kwan Yew Lenin, Vladimir LeVine, Steve Limits to Growth Lind, Michael Lindsay, James Linkon, Sherry Li, Shuzhuo Li Sun literacy: cultural; medieval London: crime in; economic polarization in; immigrants in; and industrial revolution Lord of the Rings (ilm) Los Angeles; homeownership in; poverty in Lundberg, Ferdinand Luther, Martin Lutz, Wolfgang Lyft Ma, Jack Macron, Emmanuel Makino, Tomohiko Malone, Jawanza Mandler, Peter Manila Mann, Thomas Mao Tse-tung Marcuse, Herbert Martel, Charles Marx, Karl; on bourgeois “exploitation”; on Plato; on technocrats Mauss, Marcel Mélenchon, Jean-Luc, meritocracy Merkel, Angela Metzinger, Thomas Mexico; colonial legacy in; uprisings in Mexico City Michels, Robert Microsoft Middle Ages; Black Death; Catholic Church in; children & family in; cities in; Crusades; literacy in; military nobility in; nostalgia for; peasant rebellions in; serfdom in; universities in; vassalage in; voluntary poverty in military technology millennials: and democracy; on family; and homeownership; and inheritance; as “lost generation”; news sources for; and populism; and religion; and social media; and urban life Mills, C.


pages: 190 words: 62,941

Wild Ride: Inside Uber's Quest for World Domination by Adam Lashinsky

"side hustle", Airbnb, always be closing, Amazon Web Services, autonomous vehicles, Ayatollah Khomeini, business process, Chuck Templeton: OpenTable:, cognitive dissonance, corporate governance, DARPA: Urban Challenge, Donald Trump, Elon Musk, gig economy, Golden Gate Park, Google X / Alphabet X, information retrieval, Jeff Bezos, Lyft, Marc Andreessen, Mark Zuckerberg, megacity, Menlo Park, new economy, pattern recognition, price mechanism, ride hailing / ride sharing, Sand Hill Road, self-driving car, Silicon Valley, Silicon Valley startup, Skype, Snapchat, South of Market, San Francisco, sovereign wealth fund, statistical model, Steve Jobs, TaskRabbit, Tony Hsieh, transportation-network company, Travis Kalanick, turn-by-turn navigation, Uber and Lyft, Uber for X, uber lyft, ubercab, young professional

And when you do that, when you’re doing something really, really different, you’re going to have some naysayers. You just have to get used to that.” Travis Kalanick, the philosopher/execution guy, a jerk to many but not to himself, very likely will never get used to the naysayers. Adversity, after all, had become part of the journey. A young Travis Kalanick. Kalanick’s fourth-grade football team; he’s number 21. The Scour team on the last day of its existence. From left to right, Kevin Smilak, Craig Grossman, Travis Kalanick, Dan Rodrigues, and Michael Todd. The Red Swoosh team in 2002: Travis Kalanick (second from left), Francesco Fabbrocino (standing, fourth from left), Evan Tsang (third from right), Rob Bowman (far right). Garrett Camp (left) and Travis Kalanick in front of the Eiffel Tower during their pivotal 2008 trip. The Uber team in the beginning.

Garrett Camp (left) and Travis Kalanick in front of the Eiffel Tower during their pivotal 2008 trip. The Uber team in the beginning. From left to right: Curtis Chambers, Travis Kalanick, Stefan Schmeisser, Conrad Whelan, Jordan Bonnet, Austin Geidt, Ryan Graves, Ryan McKillen. The early UberCab Web site. Edward Norton was Rider One in Los Angeles in 2012. Ryan Graves and Austin Geidt jamming in Uber’s early days. Shervin Pishevar and Travis Kalanick, moments after signing the term sheet for Series B funding in Dublin, October 2011. Kalanick with two employees at Uberversity Happy Hour, an event for new hires, June 2013. The Uber team parties in Miami, October 2013: Ryan Graves (left), Austin Geidt (second from left), and Shervin Pishevar (far right). At the 2014 Recode Conference, Kalanick says Uber is battling “an asshole named Taxi.”

Contents Title Page Copyright Dedication CHAPTER 1 A Wild Ride Through China CHAPTER 2 Training Wheels CHAPTER 3 Lean Times CHAPTER 4 Jamming CHAPTER 5 Early Days CHAPTER 6 Travis Takes the Wheel CHAPTER 7 Growing Pains CHAPTER 8 Juggernaut CHAPTER 9 Driver’s Seat CHAPTER 10 The Autonomous Future CHAPTER 11 Outflanked in China CHAPTER 12 A Long Walk Through San Francisco Photographs Acknowledgments About the Author CHAPTER 1 A Wild Ride Through China Travis Kalanick sits in the back of a chauffeur-driven black Mercedes making its way through the traffic-clogged streets of Beijing. It is the dead of summer in 2016, and the sky above the Chinese capital is thick with pollution, the air muggy and still. As CEO of Uber, the world’s most valuable start-up, Kalanick has been visiting China about every three months for three years now. All the travel from his home base in San Francisco is part of a money-draining and quixotic gambit to replicate the global success of Uber’s disruptive ride-hailing service in the world’s most populous country.


pages: 401 words: 109,892

The Great Reversal: How America Gave Up on Free Markets by Thomas Philippon

airline deregulation, Amazon Mechanical Turk, Amazon Web Services, Andrei Shleifer, barriers to entry, bitcoin, blockchain, business cycle, business process, buy and hold, Carmen Reinhart, carried interest, central bank independence, commoditize, crack epidemic, cross-subsidies, disruptive innovation, Donald Trump, Erik Brynjolfsson, eurozone crisis, financial deregulation, financial innovation, financial intermediation, gig economy, income inequality, income per capita, index fund, intangible asset, inventory management, Jean Tirole, Jeff Bezos, Kenneth Rogoff, labor-force participation, law of one price, liquidity trap, low cost airline, manufacturing employment, Mark Zuckerberg, market bubble, minimum wage unemployment, money market fund, moral hazard, natural language processing, Network effects, new economy, offshore financial centre, Pareto efficiency, patent troll, Paul Samuelson, price discrimination, profit maximization, purchasing power parity, QWERTY keyboard, rent-seeking, ride hailing / ride sharing, risk-adjusted returns, Robert Bork, Robert Gordon, Ronald Reagan, Second Machine Age, self-driving car, Silicon Valley, Snapchat, spinning jenny, statistical model, Steve Jobs, supply-chain management, Telecommunications Act of 1996, The Chicago School, the payments system, The Rise and Fall of American Growth, The Wealth of Nations by Adam Smith, too big to fail, total factor productivity, transaction costs, Travis Kalanick, Vilfredo Pareto, zero-sum game

I think the argument is misleading, and the case for broad, positive synergies is weaker than most people realize. Synergies exist in the new economy, but they also exist in the old economy. Leaders of the new economy, just like leaders of the old economy before them, tend to overestimate the positive externalities from their activities. Rana Foroohar, writing in the Financial Times about the gig economy (August 2018), mentions that several years ago, Travis Kalanick, the founder and former chief executive of the ride-sharing company Uber, told a group of business executives that we were heading toward a world in which “traffic wouldn’t exist” within five years. Well, if recent experience in New York City is any guide, that is not happening. The average travel speed of cars in Midtown was 6.4 miles per hour in 2010. In 2017, it was 5 miles per hour, according to the Department of Transportation’s Mobility Report.

See also Amazon; Apple; Facebook; Google; Microsoft internet service: US price indexes for, 1–2; costs in US versus Europe, 5–6; and competition’s impact on service quality, 19; deregulation of, 140 investment, 62; as low relative to profits, 63–65; purpose and goals of, 65–69; assessing value of, 67; fundamental law of, 68; intangible, 72–75; tangible, 73; weak, 79 investment gap, 69–72, 75 iPhones, 242–243 Issue One, 198 Italy, campaign finance contributions in, 199 Jacobs, Jeff, 281–282 Janofsky, Adam, 277 Jarmin, Ron, 81 Jayachandran, Seema, 191 Jeffords, James, 191–192 Jobs, Steve, 294 Jolly, David, 176 Jones, Chad, 42, 78 Jones, Doug, 198 Jovanovic, Boyan, x Kalanick, Travis, 267 Kang, Karam, 157 Kapner, Suzanne, 34 Katz, Lawrence, 48, 50 Kendall, Frank, 288 Keynes, John Maynard, viii Keynes, Soumaya, 92 Khan, Lina M., 43 “killer acquisitions,” 82 Kim, Hyunseob, 281 Kimball, David C., 157 Klein, Joel, 45 Kleiner, Morris M., 283 Knight, Brian, 199 Kroszner, Randall S., 191 Krueger, Alan B., 282, 283 Krugman, Paul, 290–291 Kwoka, John, 87, 91 labor market competition, 23 labor productivity, 120–121 labor share(s): evolution of, 106–109; for market economy in US and euro area, 109 labor turnover, xi–xii La Ferrara, Eliana, 199 Lampedusa, Giuseppe Tomasi di, 287 La Pira, Timothy M., 163 La Porta, Rafael, 127 Larkin, Yelena, 47, 54–56 law of one price (LOOP), 111–112 leadership PACs, 184 League of Nations, 129 Leech, Beth L., 157, 163 Leucht, B., 133 licensing, occupational, 282–283 Lieber, Ethan, 236 life expectancy, 224, 229 Liljenquist, Dan, 198 Lisbon Strategy, 136–137 lobbying, 153–155; impact of, 9, 174–175; against competition, 23–24; and future of Europe’s free markets, 148–149; as democratic right, 155; challenges of measuring impact of, 156–157; and endogeneity bias, 157–160; benign view versus negative view of, 160; inefficiencies created by, 160–161; connections as key to success in, 161–163; fiscal targets of, 163; empirical regularities about, 164–166; in Europe versus US, 164–166; skewness of, 166–170; effectiveness of, 170–174; intensity, 171; and campaign finance contributions, 189; in finance, 220–222; in health care, 234, 235; by internet giants, 260–262 LOOP (law of one price), 111–112 Lopez-de-Silanes, Florencio, 127 loss leader pricing, 43 Lower Search Costs hypothesis, 49–50, 52 Lucca, David, 200 luxury goods, 113 Lyon, Spencer G., 22 Ma, Song, 82 MacMillan, Douglas, 271 macroeconomic equilibrium, 292 Mahoney, Christine, 173 manufacturing, rise in concentration in, 46 marginal cost, 118 Marinescu, Ioana, 280 Marino, Tom, 235 market power: and assessing competition, 25; versus demand elasticity, 26; and welfare, 27–30; concentration and rise in, 45–48; concentration hypotheses and rise in, 48–51; persistence of market shares over time and rise in, 51–53; profits of US firms and rise in, 51–53; profit margins and payouts and rise in, 54–58; China shock and rise in, 58–60; versus efficiency in merger regulation, 88–90 market share: of Walmart, 32; persistence of, over time, 51–53.


pages: 361 words: 81,068

The Internet Is Not the Answer by Andrew Keen

"Robert Solow", 3D printing, A Declaration of the Independence of Cyberspace, Airbnb, AltaVista, Andrew Keen, augmented reality, Bay Area Rapid Transit, Berlin Wall, bitcoin, Black Swan, Bob Geldof, Burning Man, Cass Sunstein, citizen journalism, Clayton Christensen, clean water, cloud computing, collective bargaining, Colonization of Mars, computer age, connected car, creative destruction, cuban missile crisis, David Brooks, disintermediation, disruptive innovation, Donald Davies, Downton Abbey, Edward Snowden, Elon Musk, Erik Brynjolfsson, Fall of the Berlin Wall, Filter Bubble, Francis Fukuyama: the end of history, Frank Gehry, Frederick Winslow Taylor, frictionless, full employment, future of work, gig economy, global village, Google bus, Google Glasses, Hacker Ethic, happiness index / gross national happiness, income inequality, index card, informal economy, information trail, Innovator's Dilemma, Internet of things, Isaac Newton, Jaron Lanier, Jeff Bezos, job automation, Joi Ito, Joseph Schumpeter, Julian Assange, Kevin Kelly, Kickstarter, Kodak vs Instagram, Lean Startup, libertarian paternalism, lifelogging, Lyft, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, Martin Wolf, Metcalfe’s law, move fast and break things, move fast and break things, Nate Silver, Nelson Mandela, Network effects, new economy, Nicholas Carr, nonsequential writing, Norbert Wiener, Norman Mailer, Occupy movement, packet switching, PageRank, Panopticon Jeremy Bentham, Paul Graham, peer-to-peer, peer-to-peer rental, Peter Thiel, plutocrats, Plutocrats, Potemkin village, precariat, pre–internet, RAND corporation, Ray Kurzweil, ride hailing / ride sharing, Robert Metcalfe, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Skype, smart cities, Snapchat, social web, South of Market, San Francisco, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, TaskRabbit, Ted Nelson, telemarketer, The Future of Employment, the medium is the message, the new new thing, Thomas L Friedman, Travis Kalanick, Tyler Cowen: Great Stagnation, Uber for X, uber lyft, urban planning, Vannevar Bush, Whole Earth Catalog, WikiLeaks, winner-take-all economy, working poor, Y Combinator

Real failure is a $36 billion industry that in a decade shrank to $16 billion because libertarian badasses like Travis Kalanick invented products that destroyed its core value. Real failure is the $12.5 billion in annual sales, the more than 71,000 jobs, and the $2.7 billion in annual earnings estimated to have been lost just in the United States’ music industry because of “innovative” products like Napster and Scour.24 Real failure is the 55% drop in Spanish music sales between 2005 and 2010 because of online theft.25 Real failure is such a decimation of Spanish musical talent that a country that had historically produced international stars like Julio Iglesias hasn’t had an artist selling a million copies of an album in Europe since 2008.26 No wonder FailCon is coming to Spain. FailCon is coming everywhere soon. While it’s amusing to satirize libertarian clowns like Travis Kalanick with their pathetic boasts about $250 billion lawsuits and their adolescent Ayn Rand fetishes, this really is no laughing matter.

Andreessen Horowitz has also ventured into the car-sharing market, where it is backing a 2012 San Francisco–based middleman called Lyft, a mobile phone app that enables peer-to-peer ride sharing. But the best-known startup in the transportation-sharing sector is Uber, a John Doerr–backed company that also has received a quarter-billion-dollar investment from Google Ventures. Founded in late 2009 by Travis Kalanick, by the summer of 2014 Uber was operating in 130 cities around the world, employing around 1,000 people, and, in a June 2014 investment round of $1.2 billion, was valued at $18.2 billion, a record for a private startup company. It made Kalanick a paper billionaire and gave his four-year-old startup with its 1,000 employees almost the same valuation as that of Avis and Hertz combined,114 companies which together employ almost 60,000 people.

According to the Wall Street Journal, Google is even working with Foxconn, the huge Taiwanese contract manufacturer that already makes most of Apple’s products, “to carry out the US company’s vision for robotics.”27 With all these acquisitions and partnerships, Google clearly is, as the technology journalist Dan Rowinski put it, playing a game of Moneyball28 in the age of artificial intelligence—setting itself up to be the dominant player in the age of intelligent computing. In the future, then, the origins of that deadly tornado “coming to an office near you” will probably lie in the Googleplex, Google’s global headquarters in Mountain View, California, where the automated data feedback loop of Sergey Brin’s “big circle” is coming to encircle more and more of society. And then there’s Google’s interest in Travis Kalanick’s Uber—another play that may turn out to be a massive job killer. In 2013, Google Ventures invested $258 million in Uber, the largest ever outside investment by Google’s venture arm. It’s not hard to figure out why. As the Forbes columnist Chunka Mui suggests: “Google Car + Uber = Killer App.”29 And as T. J. McCue, Mui’s colleague at Forbes, adds, Google’s interest in Uber may lie in Kalanick’s transportation network becoming the infrastructure for a revolutionary drone delivery service.


pages: 394 words: 112,770

Fire and Fury: Inside the Trump White House by Michael Wolff

Affordable Care Act / Obamacare, barriers to entry, Bernie Sanders, centre right, disintermediation, Donald Trump, drone strike, Edward Snowden, Elon Musk, forensic accounting, illegal immigration, impulse control, Jeff Bezos, Jeffrey Epstein, obamacare, Peter Thiel, Renaissance Technologies, ride hailing / ride sharing, Robert Mercer, Ronald Reagan, Saturday Night Live, self-driving car, Silicon Valley, single-payer health, Travis Kalanick, WikiLeaks, zero-sum game

On the other hand, while there was a warming C-suite feeling for Trump, there was also rising concern about the consumer side of many big brands. The Trump brand was suddenly the world’s biggest brand—the new Apple, except the opposite, since it was universally disdained (at least among many of the consumers who most top brands sought to court). Hence, on inaugural morning, the employees of Uber, the ride sharing company, whose then CEO Travis Kalanick had signed on to the Schwarzman council, woke up to find people chained to the doors of their San Francisco headquarters. The charge was that Uber and Kalanick were “collaborating”—with its whiff of Vichy—a much different status than a business looking to sober forums with the president as a way to influence the government. Indeed, the protesters who believed they were seeing the company’s relationship with Trump in political terms were actually seeing this in conventional brand terms and zooming in on the disconnect.

Edgar, 219 Hubbell, Webster, 97 Hull, Cordell, 105 Hussein, Saddam, 27 Hutchison, Kay Bailey, 81 IBM, 88 Icahn, Carl, 20, 141, 211 Iger, Bob, 88, 238 immigration and travel ban, 36, 62–65, 68, 70, 78, 95, 113, 116–17, 138, 288 infrastructure, 224, 295 Ingraham, Laura, 201, 205, 222 intelligence community, 6–7, 41–42, 98, 101–2, 104, 153, 159, 219 Internet Gaming Entertainment (IGE), 56–57 In the Face of Evil (documentary), 58 Iran, 4, 191, 225–27 Iraq, 42, 49, 128, 138, 182 ISIS, 7, 49, 219 isolationism, 118, 174, 184, 191, 227 Israel, 4, 6, 140–43, 211, 219, 227, 230, 265, 281, 289 Jackson, Andrew, 44, 67, 158 Jackson, Michael, 28, 42 Japan, 39, 106 Jarrett, Valerie, 129 Jefferson, Thomas, 293 Jerusalem, 6 Jews, 73, 140–45, 157, 293 John Birch Society, 127 Johnson, Boris, 70 Johnson, Jamie, 79–80 Johnson, Lyndon B., 6–7, 53, 66, 158, 167 Johnson, Woody, 12 Jones, Paula, 201 Jordan, 6 Jordan, Hamilton, 27 Jordan, Vernon, 78 Justice Department (DOJ), 94–96, 98, 105, 151, 154–56, 168–69, 210, 216–17, 242 Kaepernick, Colin, 303 Kalanick, Travis, 88 Kaplan, Peter, 74–76 Kasowitz, Marc, 238, 259–60, 280–81 Kazakhstan, 281 Keaton, Alex P., 128 Kelly, John, 4, 63, 109, 188, 218, 285, 287–91, 294–97, 299–300, 304–7 Kennedy, John F., 53, 84 Kent, Phil, 92 Khan Sheikhoun chemical attack, 183–84, 188–93 Kim Jong-un, 293 King, Martin Luther, Jr., 50–51 Kirk, Russell, 127 Kislyak, Sergey, 95, 106, 151, 154–55, 218, 236 Kissinger, Henry, 41, 77, 142, 145, 193, 226–28 Koch brothers, 178 Kudlow, Larry, 143, 207 Ku Klux Klan (KKK), 294–95 Kurtz, Howard, 217 Kushner, Charlie, 17, 31, 72, 210–11, 257, 281 Kushner, Jared background of, 28, 71–76, 80–81 Bannon and, 8, 12, 52–53, 68, 110, 115, 132–34, 140, 145–47, 154, 173–74, 176, 179–82, 187, 191, 207–8, 235–36, 238–39, 243, 245–47, 274, 276, 281, 289, 291, 297 business affairs of, 17–18, 102, 211, 256, 281 business council and, 35, 87–88 Charlottesville rally and, 294 China and, 193, 211, 228 Christie and, 31 Comey and, 168–70, 210–14, 216–18, 232, 243, 245, 280, 307 CPAC and, 132–34 electoral victory and, 10, 12, 18–19, 45, 60, 103, 112 intelligence community and, 41–42, 48, 156–57 Kelly and, 288–91, 294, 305–6 McMaster and, 176, 189, 192–93, 235, 266, 289 media and, 68–69, 76, 146, 202–3, 207, 277–79 Mexico and, 77–78 Middle East and, 70, 140–43, 145, 157, 182, 192, 194, 211, 266, 268 Murdoch and, 73, 156, 179 Obamacare and, 72, 166–68 Office of American Innovation and, 181, 207 policy and, 115–25, 226, 228 role of, in White House, 29–30, 40–41, 64, 69–72, 77, 93, 109, 172, 285 Russia and, 24, 106, 154–56, 170, 236, 239, 253–58, 261, 271, 273, 278, 280, 283–84, 307–8 Saudi Arabia and, 225–29 Trump’s speech to Congress and, 149–51 White House staff and, 33, 110, 121, 140, 143–49, 186, 253, 268, 271–74, 282–83, 286 Kushner, Josh, 69, 166 Kushner Companies, 256 Kuttner, Robert, 297–98 labor unions, 67–68 Ledeen, Michael, 104 Lee, Robert E., 293 Lefrak, Richard, 27 Le Pen, Marine, 100 Lewandowski, Corey, 11–13, 17, 26, 28–29, 204, 234, 237–38, 252–53, 255 Lewinsky, Monica, 233 Libya, 6, 42 Lighthizer, Robert, 133 Limbaugh, Rush, 128, 222 Lowe, Rob, 42 Luntz, Frank, 201 Manafort, Paul, 12, 17, 28, 101, 210, 240, 253–56, 278, 280 Manhattan, Inc., 74 Manigault, Omarosa, 109 Mar-a-Lago, 4, 69, 99, 106, 159, 189, 193–94, 210, 228, 248–49 Marcus, Bernie, 309 Mattis, James, 4, 21, 103, 109, 188, 264–65, 288, 296, 304–5 May, Theresa, 258 McCain, John, 112, 306 McCarthy, Joe, 73 McConnell, Mitch, 32, 117, 301–2 McCormick, John, 167 McGahn, Don, 95, 212–14, 217 McLaughlin, John, 10 McMaster, H.


pages: 484 words: 114,613

No Filter: The Inside Story of Instagram by Sarah Frier

Airbnb, Amazon Web Services, blockchain, Clayton Christensen, cloud computing, cryptocurrency, Donald Trump, Elon Musk, Frank Gehry, Jeff Bezos, Marc Andreessen, Mark Zuckerberg, Menlo Park, Minecraft, move fast and break things, move fast and break things, Network effects, new economy, Oculus Rift, Peter Thiel, ride hailing / ride sharing, side project, Silicon Valley, Silicon Valley startup, Snapchat, Steve Jobs, TaskRabbit, Tony Hsieh, Travis Kalanick, ubercab, Zipcar

That was exactly what would help make the product popular. Instagram posts would be art, and art was a form of commentary on life. The app would give people the gift of expression, but also escapism. * * * Late one night, lit by the glow of his laptop in rickety Dogpatch Labs, Systrom was coding in a corner, trying not to be distracted by the fact that there was an entrepreneur pitch event going on. A man named Travis Kalanick was in front of an audience of mostly men explaining his company, UberCab, which made a tool that was supposed to help people summon luxury cars with their phones. It would officially launch in San Francisco the next year. One of the event’s guests was Lowercase Capital’s Chris Sacca, an early investor in Twitter, who was already putting money in UberCab. Sacca considered himself a good judge of character, and had made a call to invest in Kalanick after inviting him for hours of hot-tubbing at his Lake Tahoe home.

Hsieh, Tony, 105 HTML5, 19 @hudabeauty, 247 Hudgens, Vanessa, 236 Hudson, Kate, 192 Hudson photo filter, 23 Huffine, Candice, 250 Huffington, Arianna, 171 Huffington Post, 154, 170 Hughes, Chris, 78 Hunch, 11 hyperlinks, xxi, 8, 80, 210 #iammorethan, 161 Iceland, 242 identity theft, 97 iFart app, 10 @ileosheng, 161 #imwithher, 208 Incredibles, The (film), 180 India, IG Stories and, 203 Indonesia, IG in, 226 influencer economy, xxi, 128–29, 170–71 influencers, 25, 36, 83, 127, 165, 166, 170, 184, 231, 237–38, 240–41, 265 branding and, 138–39, 167, 235–36; see also brand advertising, of IG users celebrity, 138–39, 172, 239 fake followers and, 173–75 IG analytics increasingly available to, 275–76 IG as, see @instagram IG’s comments ordering algorithm and, 230–31 IG’s feed order algorithm and, 197–98, 229–30 pods joined by, 246 teen digital-first, 171 Insta-bae (Instagrammable design movement), xviii “INSTAGIRLS, THE” (Vogue cover headline), 156, 167 @instagram, xxii, 102, 104, 141, 143, 160–61, 167, 169, 171, 203, 204, 210, 216, 241, 247 Instagram: advertising business of, 104, 118–21, 124, 151, 155, 163–65, 174, 175–76, 184, 225, 241, 277 algorithmic ordering of comments on, 230–32, 233, 251 algorithmic post order shift by, 197–98, 218, 229 ambiguous advertising on, 35–36 ambiguous content rules of, 143 analytics team at, 183, 226 Android app of, 50, 51 blocked from Twitter access, 84, 99 board of, 37, 56, 60, 62, 63 Boomerang and, 187, 190 bot detection algorithm of, 174 brand advertising on, see brand advertising brand of, 27, 41, 89, 94, 100, 104, 111, 119, 132, 160, 162, 164, 177, 209, 216, 217–18, 254 bullying on, 41, 135, 161, 163, 218–19, 271, 279 business model lacked by, 54, 75, 77, 100, 118, 124–25 business team of, 118 celebrities courted by, 128–29, 132–36, 139, 264; see also celebrity, celebrities as celebrity-making machine, xvii–xviii; see also influencers chronological order of posts on, 117, 196–97 communications team at, 154, 202, 222, 271 community team at, 80, 81, 103, 104, 140, 141, 155–56, 160, 166, 169, 170, 176, 203–4, 226, 234 community valued by, 34, 40, 72, 94, 95, 102, 108–9, 139, 147, 205, 271, 272, 274 content curated by, 25, 41, 43, 81, 103–4, 114, 140–41, 143, 151, 152, 161–62, 169, 170, 210, 235, 279; see also @instagram content moderation of, transitioned to FB, 97, 225, 249, 260 creativity, design, and experiences as focus of, xxi, 35, 66, 83, 91, 93, 100, 103, 108–9, 128, 139, 160, 167, 175, 180, 205, 264, 276 customer service lacked by, 32, 132, 230 daily habit strategy of, 13–14 direct messaging of, 123, 276 Dorsey’s early promotion of, 25–26 earliest incarnations of, see Burbn; Codename early investors in, 24, 26, 27, 37 events team at, 265 Explore page on, 170 fake news and, 225, 256 fakery detection algorithm of, 174 fashion industry and, 131–32, 145–47 FB infrastructure and resources available to, 96, 159, 162, 225, 249–50 FB infrastructure and resources denied to, 262, 268–69 as feel-good app, 154, 157, 171, 210, 217–18, 219–20 finsta accounts on, 182–83, 184, 243 first photo posted on, 21, 180 first users chosen carefully by, 25, 33, 34 founders of, see Krieger, Mike; Systrom, Kevin Fyre Festival scandal and, 238–39 growing resentment of FB at, 254, 262, 263, 274 growth rate of, 216 growth team of, 177–78, 269–70 hashtag tool on, xxi, 59, 140, 147, 154–55, 260, 262, 270 hyperlinks not allowed in, xxi, 80, 210 IGTV of, 252, 254–55, 257, 264–67, 270 illegal drug sales content on, 261–62, 270, 271, 278 independence of, at FB, 54, 63, 65, 67, 89, 96, 106, 118, 121, 124, 209, 222–23 integration of, at FB, 100–101, 114, 223 as internet’s utopia, 220, 225 Krieger’s resignation from, xxii, 272–75 link to, removed from FB, 228, 269 link to FB added on, 228, 257 live video on, 261 lockdown at, 269–70 logo of, xvi, 20, 34 mainstreaming of, 35, 47, 168, 169, 170, 173 media outreach of, 154–55 mission statement of, 102 as mobile-only app, 27, 89 mounting tensions between FB and, 262, 263, 274 in move out of FB headquarters, 204–5 naming of, 24 network effects of, 77–78 $1 billion revenue milestone reached by, 186 $1 billion valuation of, xx, 53, 54, 58, 85 1-billion-user milestone reached by, 264–65, 267, 280 operations team at, 180, 204 Paradigm Shift program of, 184, 186, 187, 190 partnerships team at, 160, 219, 230, 235 photo filters on, see filter apps, photo photo tagging on, 95 Pixel Cloud of, 190 politics and, 207–8 Popular page of, 81, 140, 144, 170 public policy team at, 160, 249 rebranded as “Instagram from Facebook,” 276 reciprocal follower problem at, 183–84 rectangular photo format added on, 176–77 research team at, 199 re-sharing not allowed on, 43, 44, 140, 157 sales team at, 165 seen as threat to FB, xvii, 38, 57, 77–78, 90, 95, 252–53 server meltdowns of, 26, 30, 32, 38–39, 51, 79–81 simplicity valued at, 27, 30, 65, 102–3, 125, 160, 178, 180, 199 Snapchat as threat to, 123, 178, 181, 184, 192–93, 201 sold by Systrom and Krieger to Facebook, see Facebook, Instagram acquired by South Park office of, 32, 44, 52, 79, 181, 193 spam on, 80, 226 square photo format of, 19, 31, 110, 147, 176 suggested user list of, 48, 81, 82, 103, 143, 153, 168 suicide content on, 41–42, 261, 277–78 Systrom as public face of, 33 Systrom’s resignation from, xxii, 272–75 teens team at, 161, 170 “terms of service” debacle at, 99–100 Third Thursday Teens series of, 182, 183 translated into other languages, 43, 97 travel influenced by, 169, 241, 242 troubling user content on, 80, 160–61, 260–61, 270 and Twitter’s efforts to buy, 25, 46, 48–49, 55–56, 86, 109 2010 launch of, 26–27, 31–32 underlying culture of, 248–49 user anonymity on, 41, 80, 163, 173, 218, 219, 260, 261 user guidelines of, 155 user types cultivated by, 153 verified accounts on, 132–33, 231, 232, 279 video launch of, 110–11, 118, 145 weekend hashtag project of, 104 well-being team at, 249, 260, 271, 275 worldwide impact of, xvi–xx Zuckerberg’s concern about cannibalization of FB by, 223, 226, 227–28, 257, 280 Zuckerberg as taking credit for success of, 266–67 “Instagrammable,” xix, 81, 166–67, 172–73, 254, 265–66 Instagrammable design movement, xviii, 168 Instagram Stories, 198–99, 201–4, 205, 207, 214, 226, 227, 245, 248, 250–51, 264 Instagram users, 197, 233 brand advertising by, see brand advertising, by IG users changing behavior of, in posting to IG, 80–81, 83, 169, 172, 233, 239–40, 243 as concerned over FB’s acquisition of IG, 54 feelings of inadequacy among, 275 growth hacking by, 231 IG’s analytics tools available to, 275 IG’s relationships with, 166 IG used as publisher by, 237 pods used by, 246 as pressured to post the best, 29, 114, 172, 173, 175, 178, 275 self promotion by, 233 as unofficial ambassadors for IG, 43–44 see also celebrity, celebrities; content, user; influencers Instagress, 175, 245–46 InstaMeets, 81, 102 organized by IG, 34–35, 39–40 organized by IG users, 43, 44, 48, 104, 143, 148, 167, 168, 246 instant messaging services, 12 Instazood, 175, 246 Intel, 2 internet, 9, 16, 31, 56, 65, 79–80, 108, 109, 115, 126, 136, 229, 233 early days of, 3–4 FB as largest network on, 78, 88, 163, 253, 255 first generation of, 5 IG as top pop culture destination on, 126, 195 Section 230 of the Communications Decency Act and, 41–42 smartphones and, 10, 40 Web 2.0 and, 5 world population connected to, 124, 163, 234 Internet.org, 124 internet trolls, 219 investors, angel, 16, 17, 24 iPhones, 10, 30–31, 145 Burbn app for, 17 5S launch, 146 IG featured in launches of, 28 Krieger’s early apps for, 12 photo filters on, 147 photo technology of, 18, 152 square photo format on, 147, 176 Iribe, Brendan, 217, 253 iTunes, 137 Jackson Colaço, Nicky, 160, 207, 208, 219, 220, 225–26, 249 JAMA Facial Plastic Surgery, 244 James, LeBron, 131 Japan, IG users in, 30 Jarre, Jérôme, 112 Ja Rule, 239 JavaScript, 6 @jayzombie, 42 Jenner, Kendall, xix, 174, 186, 238–39 Jenner, Kris, xix–xx, 135, 137–38, 180 Jenner, Kylie, xix–xx, 161, 162–63, 174, 230, 245 as youngest self-made billionaire, xx Jobs, Steve, 65 Jolie, Angelina, 152 Jonas, Nick, 192 Jonas Brothers, 133 @JonBuscemi, 236 @jordandoww, 171 #jumpstagram, 104 Justice Department, U.S., 278 Kalanick, Travis, 23 Kaplan, Joel, 211 Kardashian, Khloé, xix Kardashian, Kourtney, xix Kardashian-Jenner family, 129, 230, 231, 264 IG as main branding tool of, 135, 137–38 Kardashian West, Kim, xix, 47, 135–36, 137–38, 139, 180, 218, 230, 244–45 Kattan, Huda, 247 Keeping Up with the Kardashians, xix, 135, 137, 218 Kelly, Drew, 81–82 Kendrick, Anna, 148 @kevinbrennermd, 244 Keys, Alicia, 203 Khan, Imran, 200–201 Kicksta, 246 #kindcomments, 250 King, Nate, 185, 186, 205, 206 Klip, 109 Kloss, Karlie, 156, 218 Knowles-Carter, Beyoncé, 230 Koum, Jan, 125, 256 Kramer, Julie, 232 Krieger, Mike, xvii, xxii, 37, 50–51, 55, 63, 69, 76, 105, 140, 219 Brazilian childhood of, 12 Cox and, 257 Crime Desk SF app of, 12, 32 as disillusioned with FB’s grow-at-all-costs culture, xvii in effort to preserve IG’s brand, 176, 209 at Golden Globe Awards, 192 IG posts by, 31 in increasing conflict with FB, 95–96, 214, 262–63, 271 leadership philosophy of, 18 at Meebo, 12 philanthropy of, 72 post-IG, 277 problem solving by, 18, 30–31, 32, 33, 38–39, 110 rectangular photo format and, 177 resignation of, from IG, xxii, 272–75 simplicity valued by, 18, 20, 21, 27, 102, 119, 191, 255 Snapchat Stories and, 188, 192–93 Systrom’s relationship with, 11–12, 13, 16–17, 33–34, 107, 254 Zuckerberg’s meeting with, 60 Zuckerberg’s relationship with, 252–53, 254–55, 256, 264 Kushner, Joshua, 45, 70, 218 Kutcher, Ashton, 44–46, 148, 172, 229 Systrom’s friendship with, 46, 133 Lady Gaga, 158, 192, 204 @ladyvenom, 142 Lafley, A.


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Brotopia: Breaking Up the Boys' Club of Silicon Valley by Emily Chang

23andMe, 4chan, Ada Lovelace, affirmative action, Airbnb, Apple II, augmented reality, autonomous vehicles, barriers to entry, Bernie Sanders, Burning Man, California gold rush, Chuck Templeton: OpenTable:, David Brooks, Donald Trump, Elon Musk, equal pay for equal work, Ferguson, Missouri, game design, gender pay gap, Google Glasses, Google X / Alphabet X, Grace Hopper, high net worth, Hyperloop, Jeff Bezos, job satisfaction, Khan Academy, Lyft, Marc Andreessen, Mark Zuckerberg, Maui Hawaii, Menlo Park, meta analysis, meta-analysis, microservices, paypal mafia, Peter Thiel, post-work, pull request, ride hailing / ride sharing, rolodex, Saturday Night Live, shareholder value, side project, Silicon Valley, Silicon Valley startup, Skype, Snapchat, Steve Jobs, Steve Wozniak, Steven Levy, subscription business, Tim Cook: Apple, Travis Kalanick, uber lyft, women in the workforce

An Uber employee who oversaw operations: Kara Swisher and Johana Bhuiyan, “How Being ‘Coin-Operated’ at Uber Led to a Top Exec Obtaining the Medical Records of a Rape Victim in India,” Recode, June 11, 2017., https://www.recode.net/2017/6/11/15758818/uber-travis-kalanick-eric-alexander-india-rape-medical-records. Uber finally revealed the results: Mike Isaac, “Uber Fires 20 Amid Investigation into Workplace Culture,” New York Times, June 6, 2017, https://www.nytimes.com/2017/06/06/technology/uber-fired.html. Uber’s board adopted: “Uber Report: Eric Holder’s Recommendations for Change,” New York Times, June 13, 2017, https://www.nytimes.com/2017/06/13/technology/uber-report-eric-holders-recommendations-for-change.html. his own “selfish ends”: Mike Isaac, “Uber Investor Sues Travis Kalanick for Fraud,” New York Times, Aug. 10, 2017, https://www.nytimes.com/2017/08/10/technology/travis-kalanick-uber-lawsuit-benchmark-capital.html. A Kalanick spokesperson: Ibid.

The head of Amazon Studios, Roy Price, resigned after being accused of sexually harassing a producer and it was revealed that two top Google executives, Andy Rubin and Amit Singhal, left the company due to inappropriate behavior. Setting all this in motion was a young engineer at Uber, Susan Fowler, who accused her manager of propositioning her for sex. Her memo, remarkably, led to a companywide investigation of Uber’s bro culture that revealed forty-seven cases of sexual harassment, resulting in the departure of twenty employees. In a dramatic climax, Uber’s investors forced out CEO Travis Kalanick. Many women who have been victimized have been silenced by a long tradition of settlements and nondisparagement agreements, especially in the tech industry. A few have chosen to go public with their claims, filing sexual harassment suits with varying outcomes. Then, in 2017, as reports of unwanted advances piled up, women across industries and backgrounds banded together on social media to speak up in a #MeToo campaign.

Several tech companies, including Google, Microsoft, and Twitter, now face gender discrimination lawsuits, some with class action status, representing other female employees. NAVIGATING BROTOPIA In 2015, I interviewed billionaire venture capitalist Chris Sacca, who boasted to me about hot tub parties he holds at his home near Lake Tahoe, California, to brainstorm and bond with up-and-coming entrepreneurs. He noted how impressed he was by then Uber CEO Travis Kalanick’s endurance. “Travis can spend eight to ten hours in a hot tub. I’ve never seen a human with that kind of staying power,” Sacca said. “Normal people can’t make it that long. He can.” These hot tub sessions, he implied, became something of a test to determine whether the entrepreneurs he might fund could really “hang.” What he did not seem to grasp—perhaps because he suffers from the same blind spot as so many other men in the industry—was any awareness that the demographic of people who might be comfortable sharing a hot tub with a potential investor might be rather narrow.


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Extreme Economies: Survival, Failure, Future – Lessons From the World’s Limits by Richard Davies

agricultural Revolution, air freight, Anton Chekhov, artificial general intelligence, autonomous vehicles, barriers to entry, big-box store, cashless society, clean water, complexity theory, deindustrialization, eurozone crisis, failed state, financial innovation, illegal immigration, income inequality, informal economy, James Hargreaves, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, joint-stock company, large denomination, Livingstone, I presume, Malacca Straits, mandatory minimum, manufacturing employment, means of production, megacity, meta analysis, meta-analysis, new economy, off grid, oil shale / tar sands, pension reform, profit motive, randomized controlled trial, school choice, school vouchers, Scramble for Africa, side project, Silicon Valley, Simon Kuznets, Skype, spinning jenny, The Chicago School, the payments system, trade route, Travis Kalanick, uranium enrichment, urban planning, wealth creators, white picket fence, working-age population, Y Combinator, young professional

Knowing that knafeh – miniature pastry nests with nuts nestling inside – is a strong seller, he makes huge quantities of these and other baked sweets at his main bakery. Doing these big batches keeps costs down, and his employees then transport trays of baked goods to his four outlet kiosks dotted across Zaatari. Offering a taste of Syria is so popular that he is opening a fifth outlet soon. This hub-and-spoke method of cooking and selling food is exactly the so-called ‘dark kitchen’ model now being pursued by Travis Kalanick, the founder of Uber. Other entrepreneurs pull on the refugees’ nostalgia for their lost homeland too. Hamid Harriri’s sweet shop mainly sells knockoffs including ‘Chiko’ chocolate eclairs, an imitation of the Cadbury’s version. But his most prized candies are the real thing: sugar-coated almonds called mlabbas that he imports from Syria. Hamid explains that Damascus is famed for these sweets and that people like to give them as gifts during the Eid celebrations at the end of Ramadan.

Abercrombie, Sir Patrick 203 Aceh 2–39, 10, 331, 332, 333, 334, 335 ‘building back better’ 24–5, 29–31, 42 civil war 32–3 education 13, 31 financial system 20–22 history 17–18 Memorandum of Understanding (MOU) 32, 33 tsunami 2–3, 6, 12–14, 15, 16, 18–19, 23 ageing populations 6, 212–49, 331 agglomeration see industrial agglomeration AI see artificial intelligence Akita, Japan 212–49 ageing population/ low birth rate 7, 213–25, 227–49, 331 suicides 225–6 Allende, Salvador 296–8, 301 amoral familism 196, 202 Anglo-Dutch wars 25 Angola: Kongo people 83 Angola (Louisiana penitentiary) 5, 76–104, 331, 335, Angolite, The 80 Argentina 110, 144, 291, 303 Arkwright, Richard 267 Arrol, Sir William 191 artificial intelligence (AI) 245, 268–9, 270, 284, 286, 287, 378 automation: and job losses 253 see also technology Azraq refugee camp 57–67, 71, 72, 144, 334, 340, 348–9 Bajo Chiquito, Panama 106, 108–9, 1112, 133, 136, 139 Banda Aceh 13, 16, 18, 20, 26–7, 34–5 Bandal, Kinshasa 144, 162 Bandudu, Congo 164, 165 banks 97, 99 in Aceh 19, 21, 22 Chilean 296, 297, 302 in Kinshasa/ Congo 151, 158 online 99, 278 Panamanian 131 Barbour, Mary 203, 366 barter economy, prison 89–90 Bevan, Aneurin 201 birth rates, falling 215–16, 226–7, 233, 247 Blockbuster Video 97 blood circulation (William Harvey) 3–4 borders: and conservation of common resources 126–7 Borland, Francis: History of Darien 107 Brazil: ageing population 213, 214 Brazzaville, Congo 174–5 Bruce, Robert 203 Brumberg, Richard 218 buccaneers and Darien 112–14 business start-up rates 54 Calabria, negative social integration 195–6 Calton, Glasgow 179, 190, 191, 192 Cambridge University 26, 182 Cameron, Verney Lovett 141, 143, 149 cannabinoids, synthetic 93–4, 95–6, 352 cartels, Chilean 321–3 Casement, Roger: on Congo Free State 150 cash vs. barter 89–90 Castro, Fidel 298 Castro, Sergio de 301 centenarians, Japanese 215, 216 Chesterton, George Laval 77 Chicago Boys 294–5, 296, 300, 301, 314, 325 El Ladrillo (economic plan) 301–5, 315–16, 317, 323–4, 325–6 protests against 305, 317 Chile Allende period 296–8, 301 education 294, 295, 302, 304–5, 310, 311–12, 312, 313–17, 318, 324, 326, 327 national income 291–3 nationalization 296–7 Pinochet dictatorship 298, 300–1, 305, 322, 383 tsunami 15 see also Chicago Boys ‘Chilean Winter’ 317–18 Clyde shipyards 178–9, 181, 183–4, 185 Cold Bath Fields prison 91 Coleridge, Samuel Taylor 113 Colombian peace accord (2016) 111, 134 common resources and conservation 124–5 depletion paradox 122–39 overgrazed land 122–3 and self-regulation 125, 126–8 Confucian ethics 220 Congo, Democratic Republic of ‘Crisis’ 151–8 GDP per capita 153, 173 independence (1960) 151 unemployment 142–3 see also Kinshasa; Mobutu, Sese Seko; Zaire consumerism as slavery 319 copper mining 143, 151, 156, 296, 323–4 corruption 133 in Kinshasa 143, 145–6, 148, 159–61, 168, 333, 361 credit: and poverty 308–10 Crompton, Samuel 267 crop rotation 279 Cunard Line 185 currencies cacao beans 91 cigarette papers 91 cigarettes/tobacco 92, 95 coffee 77, 96, 100 commodities 90–91 ‘dot’ payment system 97–100 dual-currency system 166–7 ‘EMAK’ (edible mackerel) 92 postage stamps 92 in prisons 91–101 ramen noodles 92 roles played (Jevons) 90 on Rossel Island 91 salt 91 Yoruk people 91 Cut Nyak Dhien 35 Dael, Syria: refugees 42–4 Dagahaley settlement, Kenya 45, 46 Dampier, William 113, 114 Daraa: and Syrian civil war 44 Darien Gap 6, 106, 107–39, 332, 333, 334 borders and common resource conservation 126–7 buccaneers’ accounts 112–14 eco-tourism 132 environmental damage 6, 120–21, 129–31 ethnic rivalry 126–8 externalities 131, 138, 183, 186, 332 illegal immigrants 132–7 market failure 109–10, 122–3, 129, 138 Scottish disaster 114–15, 133, 137–8 Darien National Park 126, 132 deaths lonely 225, 226, 236, 237, 248 premature (‘Glasgow effect’) 192–3 suicide 194, 213, 224, 225–6, 236, 248, 366 see also life expectancy digital divide 254, 281, 377 digital ID 277, 279 digital infrastructure, Estonian 259 drugs in Angola (prison) 81, 82, 88, 93–4, 95–6, 97, 99, 100, 101, 352 in Chile 306, 310, 322 in Darien 110, 111, 128, 134, 135 in Scotland 191–2, 193 in Tallinn 206 Dunlop, John Boyd 150 Durkheim, Emile: La Suicide 194, 196, 206 e-democracy (Estonia) 284, 287 e-Residency (Estonia) 277–8, 279, 283, 287, 379 education in Aceh 13, 31 in Chile/Santiago 295, 302, 304–5, 310, 311–12, 312, 313–17, 326, 327 in Italy 195 in Japan 220, 223, 229 in Louisiana 81 in Zaatari camp 67, 71, 349 see also universities Embera tribe 108, 109, 111, 119, 127, 128, 129, 133, 136, 137, 138–9, 357 entrepreneurs 331 in Aceh 19, 22, 23, 24, 27, 30, 39 in Akita, Japan 236–7, 238 in Angola (prison) 89, 102–3 Chilean 295, 296 in Darien 5, 114 Estonian 270, 275, 278–9, 281 in Glasgow 181, 182 in Kinshasa 162, 171 in Zaatari camp 43, 46, 54, 55–8, 62–3, 71 environmental damage see Darien Gap Estonia 256–7, 259 Ajujaht competition 252, 260, 275, 276, 278, 283–3 companies 281 economic revival 275–87 e-Government services 254–5 as ESSR 257–9, 272–4 labour shortage 280 Russia border 271–2 Russian population 272–4, 281–3 technology 252–6, 259–87 externalities 183, 206 Darien Gap 131, 138, 183, 186, 332 Glasgow 183–4, 186, 189–90, 333 and markets 332 extractive economy 122–39 Fairfield Heritage 349 Fairfield shipyard 178, 186, 189, 200, 206 FARC guerrillas 111, 132, 133, 134–5, 137, 355, 357 Ffrench-Davis, Ricardo 302 Foljambe, Joseph 265–6 Force Publique 150 foreign aid 23, 27–9, 54, 170 foreign exchange traders 166–7 Franklin, Isaac 83 free markets 128, 131, 174, 296, 300–3, 316, 320, 326–7, 331–2, 356 Frente Amplio coalition 318, 384 Friedman, Milton 289, 295, 303, 319, 326, 383, 384 GAM (Gerakan Aceh Merdeka) freedom fighters 18, 32, 346 Gbadolite 159 GDP see Gross Domestic Product Gécamines 155–6 Geddes, Reay: report 189–90 gender roles, Japanese 223–4, 232 Germany 187, 195, 222, 227, 247, 249, 292, 302, 360 Glasgow 6–7, 176, 177–207, 333 culture 180 drug users 191–2 externalities 183–4, 186, 189–90, 333 population density 197 shipbuilding 178–9, 181, 184–6, 187–8, 189, 190–91, 199–200, 206–7, 333, 334 tenement homes and social capital 196, 197–202, 205, 335 unemployment 190 see also Calton; Gorbals; Govan and below Glasgow City Council (GCC) 202–4 Glasgow City Improvement Trust 202–3, 366 ‘Glasgow effect’, isolation 205–6 Glassford, John 181 Glenlee 179 gold in Aceh 17, 20–22, 37, 332, 334 in the Congo 143 in Darien 109, 113, 117, 120, 356 Golden Island 114–15 Good Neighbor Policy (USA) 294, 383 Goodyear, Charles 150 Gorbals, Glasgow 176, 191, 192, 204, 205, 367 Govan, Glasgow 176, 178, 184, 186, 192, 197–8, 201–3, 206, 207 Great Depression 26 Gross Domestic Product (GDP) 26 Aceh 27, 37–8 Chile 316 Congo 153, 173 Estonia 259 Hagadera refugee camp, Kenya 45 Han, Byung-Chul 319 Harberger, Arnold ‘Alito’ 295, 305, 326 Hargreaves, James 266, 267 Harris, Walter 115 Harvey, William 1, 3–4, 5, 6, 329, 330, 336 Heinla, Ahti 263–4, 268, 282, 284, 285 Hinohara, Shigeaki 211 housing 90 Aceh 12–13, 16, 19, 24, 26, 27, 28, 29–30, 26, 38, 39 Akita, Japan 223, 228, 229, 230, 232, 233, 236–7, 239, 248 Azraq and Zaatari camps 44, 45, 48, 54, 55, 59, 61, 63, 70, 71 Chile 296, 297, 300, 302, 204, 306, 207, 308, 326 Darien 118, 139 Glasgow 197–9, 202–6 Kinshasa 142 Louisiana 95, 102 human capital 38–9, 168, 305, 335, 346–7 human rights abuses 300–1 Hyakumoto, Natsue 235 ID cards, personal data 260–61 Ifo refugee camp, Kenya 45 incarceration rates, USA 76–7, 78 industrial agglomeration 182–6, 200, 206, 330–31, 333, 365 inequality 6, 18, 254, 331, 337 in Chile 6, 291–2, 292, 293, 297, 298, 304, 308, 311, 317, 318, 324–7 intergenerational (Japan) 221–3, 238, 248 informal economies 122–5, 214–15, 331, 333–4, 336 Aceh 21–2, 24, 30, 31, 34, 37 Akita 233, 248 Chile 297, 306–7, 310, 323 Darien 122, 128, 129 Estonia 258 and Glasgow 204, 206, 334 Italy 196, 336 Kinshasa 142, 146, 148, 163–6, 167–8, 170, 173–5, 334 in prisons 77, 78–9, 86–7, 91, 93, 96, 99, 100–1, 102 in Zaatari camp 43, 45, 47, 57, 61, 64, 71, 72, 86 Innophys 245 innovation in Chile 315 and currency 97, 99–100 and economies 43, 79, 80, 87, 100, 122, 162, 333, 334 in Estonia 252, 256–7, 258–87 in Glasgow 179, 180, 182, 185, 188, 192, 201 technological 97–8, 183, 187, 252, 256–7, 258–87 intergenerational inequality (Japan) 221–3, 238, 248 International African Association (IAA) 149 International Cooperation Administration (ICA) 294 International Monetary Fund 303 inventions 265–6 in Estonia 252–3, 260, 265, 275–6, 282–3 isolation, ‘Glasgow effect’ 205–6 Italy 195–6, 201, 202, 335–6, 366 ageing population 213, 220, 222, 243, 331 population decline 227, 230, 233, 249 ivory trade 149 Jackie Chan Village 35–7, 39 Jackson, Giorgio 317–20 Jadue, Daniel 322, 332 Japan ageing population 6, 213–25, 227–49, 331 common forest conservation 124, 125 education 220, 223, 229 shipyards innovation/ competition 187–8, 189 tsunamis 15 Japan Football Association (JFA) 212–13 Jendi, Mohammed 54–5, 56, 71 Jevons, William Stanley 75, 89–90, 99, 352 Kabila family 154, 161, 162, 173 Kajiwara, Kenji 238 Kakuma refugee camp, Kenya 45 Kalanick, Travis 57 Kasa-Vubu, Joseph 151 Katanga 143, 151 Katumba refugee camp, Tanzania 45 Kenya: refugee camps 45, 46 Keynes, John Maynard 5, 7 Kinshasa 6, 140, 141–75, corruption 143, 145–6, 148, 159–61, 168, 333, 361 informal economy 142, 146, 148, 163, 166, 167–8, 170, 173, 334 natural wealth 143 pillages 157–8 police 159–61 roads as informal markets 163–6 tax system 145–6, 147–8, 16 Kirkaldy, David 4, 5, 6, 330 Kuala Lumpur 293 Kuna tribe 126, 340 Laar, Mart 258 labour pools, industrial agglomeration 183, 184–5, 200 Ladrillo, El see Chicago Boys Lagos 293 Lampuuk 2–3, 6, 13, 14, 22–3, 26, 32, 33, 35, 37, 345 Lancashire 266, 267 Las Condes 288, 290, 293, 304, 306, 307, 308, 309, 321, 322, 325 Lasnamäe, Tallinn 272, 281 Le Corbusier: Cité radieuse 203 Leontief, Wassily: Machines and Man 251, 377 Leopold II, King of the Belgians 149–50 Lhokgna 10, 12–13, 14, 26, 27–8, 29, 31, 33, 34, 35, 38, 345 life-cycle hypothesis 218–19, 248 life expectancy Glasgow 179, 190, 191–3 Japan 215 Russia 273–4 Swaziland 179 Lima 293 Liverpool 89, 177, 192, 193, 205–6 Livingstone, David 148–9 Lloyd, William Forster 122–3 lonely deaths 225, 226, 236, 237, 248 Louisiana 74, 76, 81 Department of Public Safety and Corrections 83 Prison Enterprises 83–4, 85, 351 State Penitentiary see Angola Lüders, Rolf 293, 295, 304, 305, 325 Lumumba, Patrice 151 machine learning 268–70 Makarova, Marianna 272, 274 Malacca Strait 10, 17,. 18, 35, 39 Malahayati, Admiral Laksamana 34–5 Maluku steel mill, Kinshasa 155, 156–7 Manchester 192, 193, 205–6 market economies Chile 297, 302, 305, 317 prison 78, 79, 87, 89, 100, 101, 103 markets 71, 122, 332–3, 336 Aceh 20–22, 36–7, 38, 144, 331 Azraq camp 62–4, 71, 144 Chile 295, 296, 297, 298–9, 304, 309, 319, 320–23 Darien 122, 126–7, 128, 129, 131, 138 free 128, 131, 174, 296, 300–3, 316, 320, 326–7, 331–2, 356 Glasgow 181, 190 Japan 232, 233, 248, 249 Kinshasa 143, 145, 146–7, 162, 163–6, 167, 173, 174 Zaatari supermarkets 48–53, 64, 348 Marshall, Alfred 182–3, 184, 185, 186, 187, 189, 190, 194, 200, 206, 329, 330, 365 Maslow, Abraham 41, 65–7, 68, 71, 72, 286, 319, 326, 349 Meikle, Andrew 266 Melvin, Jean 197, 198, 199, 200, 201, 202, 205 ménage lending system 201, 334 Menger, Carl 90, 99, 352 Michelin brothers 150 military coup, Pinochet’s 298 Mill, John Stuart 11, 38, 335, 346–7 minimum wages 94, 267, 296, 307–8, 310 Mishamo refugee camp, Tanzania 45 Mississippi River 74, 76 Mobutu, Sese Seko (formerly Joseph-Désiré) 141, 151–2, 154–9, 161, 162, 166, 173, 297, 333, 360–61 Modigliani, Franco 218–19, 372 Mojo (synthetic cannabis) 92–4, 95–6, 97 monopolies, facilitated 319 Montgomery, Hugh 3–4 Moore, Gordon 269 Morgan, Henry 112–13 Narva, Estonia 250, 271, 272, 274, 283, 287, 378 National Health Service 201–2 nationalization 187, 296, 301–2, 383 natural disasters: and economic growth 24–5 New Caledonia 114, 356 New Orleans 74, 76, 79, 93, 101, 102, 103 Ninagawa, Yukio 234–5 norms, economics and 196, 200, 201, 323, 334, 336 obesity 81, 309, 326, 351 opportunism: and depletion of common resources 126–38 Organization for Economic Cooperation and Development (OECD) 291, 316, 326, 377 Ostrom, Elinor 123–5, 137 Pan-American Highway 106, 110, 111, 115–17, 118–19, 121, 139, 355 Panama 106, 108-9, 110, 111, 113, 117, 118, 121, 130, 131, 356–7 see also Darien Gap; FARC guerrillas Panian refugee camp, Pakistan 45 Paro robot 243–5 Paterson, William: A Proposal to Plant a Colony in Darien 107 pawn shops 200, 334, 367 Penguins’ Revolution 317 pepper: global boom 17, 345 Pepper robot 246–7 personal data 260–61 Petty, William 25–6, 38n, 346 Piñera, Sebastián 309 Pinochet, General Augustine 298, 300–1, 305, 322, 383 pirate economies see informal economies population 122, 125, 330, 347 Aceh 14, 16, 18 Chile/Santiago 291, 324 China 76 Congo/Kinshasa 143, 150 Dael 42 Darien Gap 126, 128 Estonia 255, 256, 265, 272 Glasgow 179, 197 Greece 238 Japan 226–7, 229 Portugal 238 refugee camps 44, 45, 49, 57, 348 Sweden 238 US prisons 76–7 see also ageing populations Portugal 213, 227, 230, 233, 238, 243, 249, 291, 331, 351, 360 poverty Chile 291, 293, 300, 301, 303–4, 305, 208, 311. 15. 326 Congo/Kinshasa 143, 144, 160, 169, 11, 173 Glasgow 192 Italy 195 Japan 220, 226, 233, 248 Louisiana 81, 351 prices 147–8, 302 Pride of York 207 Prisoner’s Dilemma 174 privatization 169, 173, 301–2, 315, 326, 361 Pugnido refugee camp, Ethiopia 45 Putnam, Robert 195–6, 201, 202, 335–6, 366 Rahmatullah mosque, Aceh 14 rainforest destruction 121, 128–31 Rand, Rait 260, 275–6, 283, 284 Red Road Estate, Glasgow 203 refugee camps 45, 46, 55, 173 see also Azraq; Zaatari Reid, Alexander 180 resilience 3, 5, 6, 13, 16, 22, 31, 34, 35–9, 78, 103, 109, 122, 123, 146, 170, 248, 293, 325, 333–7, 384 Revolutionary Armed Forces of Colombia see FARC Rideau, Wilbert 79–80, 82, 87–8, 100, 351 Rio Chucunaque 117, 119 robotics/ robots and care 243–4, 245–7, 248 delivery robots 262–4 for egalitarian economies 284–5 human overseers/ minders 280 ‘last-mile problem’ 264 machine learning 268–70 Sony AIBO robotic dogs 245 trams, driverless 264 Roosevelt, Franklin D. 294, 356 rosewood trees 120, 128, 138 rubber trade 149–50 Russian-Estonians 272–4, 281–4, 286–7 salarymen, retired 223–4, 228, 248 Samuel, Arthur 269 Santiago 7, 288, 289–327 see also Chile schools/ schooling markets 165, 311–15 Scotland Darien disaster 114–15, 133, 137–8 see also Glasgow self-governance 125–8 shipbuilding 178–9, 181, 184–6, 187–8, 189–91, 199–200 Sikkut, Siim 259, 277, 284 Skype 254, 263, slavery 82–6 smuggling 42, 46–8, 68 social capital 195–6, 199, 200, 202, 323, 325, 335–6, 366 social inequality 142–3, 324–5 Somalia 15 South Korea 213, 214, 220, 227, 233, 247, 319, 373 Spain 115, 137, 213, 222, 227, 243, 331 Spice (synthetic cannabis) 352 Spice Islands 17 Spiers, Alexander 181 Spinning Jenny 267, 269, 274, 378 Sri Lanka 15, 17, 49 Stanley, Henry Morton 148–9 Stanyforth, Disney 266 Starship Technologies 262–4, 269, 280 stateless people 255 store cards, prepaid 97–8 students 81, 168, 218, 221, 223, 236–7, 238, 248, 282, 283, 294–5, 304–5, 311–14, 315–18 suicide 194, 213, 224, 225–6, 236, 248, 366 Sumatra 17-18, see also Aceh supermarkets, Zaatari 48–53, 64, 348 Swing Riots 266, 378 synthetic cannabis see Mojo; Spice Takahashi, Kiyoshi 235, 236 Tallinn 7, 250, 251–87 Russian population 272–4, 281–4, 286–7 start-up paradise 254 Tallinn, Harry 278, 282–3 Tanzania: refugee camps 45 taxation 25, 346 Aceh 32 Chile 295, 302, 307, 315–17, 325 Darien 111, 130 Estonia 256–7, 259, 273, 278, 287 Glasgow 190 Japan 220, 231 Kinshasa 145–6, 147–8, 151, 152, 158, 161–2, 165, 167–8, 169, 173–4 in Zaatari refugee camp 48, 56 Tay Bridge collapse 5 teak trees 116, 130–31, 138, 333, 356, 357 technology and inequality 253–4 innovation 97–8, 183, 187, 256–7, 258–9 spill-overs 183, 189 and unemployment 253, 262, 270, 279, 286, 287, 377, 379 tectonic plates 13–14 tenement buildings, Glaswegian 196, 197–202, 205, 335 Thailand 15, 144, 213 tobacco 77, 85–6, 92, 95, 100, 143, 156, 181, 191, 202, 365 Tomaya, Yoichi 235 Törbel, Switzerland: forest conservation 124 towerblocks 203, 204, 205 trade in prison 97–100 in Zaatari camp 43–57, 67–70 see also markets traditions, economic resilience and 21, 22, 24, 34, 196, 336 trust 148, 150, 174, 196, 199, 201, 206, 248, 261, 295, 321, 323, 325, 335 Tshisekedi, Félix 154 tsunamis 2–3, 12–14, 15, 16, 18–19, 22–3, 25 Tull, Jethrow 266 Turkey 28, 58, 144, 213 Uber 57 Ukegawa, Sachiko 234 underground economies 77–9, 87–101 see also informal economies unemployment 64–5, 142–3, 190, 275 Chile 290, 297, 302, 307, 311 Congo 142, 359 Estonia 270, 273, 275, 279, 283, 379 Glasgow 179, 190, 191 and technology 253, 262, 270, 279, 286, 287, 377, 379 United Kingdom 4, 18, 26, 181, 187, 188, 199, 213, 223, 278, 335 agriculture 265, 267 housing 232 jails 86, 91, 96, 352 National Health Service 201, 203 population 226 and technology 253, 254, 257, 260, 262, 264 see also Glasgow; Scotland United Nations High Commissioner for Refugees (UNHCR) 44, 46, 48, 54, 57, 72, 348 World Food Programme (WFP), and Zaatari 48, 49–50 universities Aceh 13, 33, 34 Akita, Japan 221, 223 Chile 294, 305, 313, 314, 315, 316–17, 318, 324, 326 Congo/Kinshasa 151, 160, 166, 168 Estonia 275, 282, 283 Upper Clyde Shipbuilders (UCS) 189 urbanization: and agglomeration forces 330–31 United States 26, 54, 76, 83, 93, 213, 223, 253, 262, 279, 292, 294, 297–8 prisons 76–7, 78, 81, 91–2, see also Angola population 226 and technology 260, 262, 264, 267, 269, 276 USAID 28, 29 Valdez, Samuel 121, 128–9, 130 Vallejo, Camila 317–18, 384 Van Gogh, Vincent 180 Vatter, Ott 277, 278 Viik, Linnar 257, 258–60, 261–2 Wafer, Lionel 113–14, 134, 355 Waisbluth, Mario 313 Walpole, Sir Spencer: A History of England 177 Walsh, David: History, Politics and Vulnerability … 177 Watanabe, Hiroshi 234 wealth 4–5, 159, 218–19, 324–5, 329, 334–6 nation’s 25, 38n, 346–7 natural 109, 132, 143 workforce 184–5, 264–8, 275, 297 World Bank 303, 305, 346 World Health Organization (WHO) 63, 215 World Trade Organization 303 Wounan tribe 126, 127 X-Road data system 261, 274–5, 279, 283, 377 Y Combinator 252 Yamamoto, Ryo 236–7 Yaviza, Panama 110, 111, 116–20, 127, 132, 135, 138, 144, 356 Yida refuge camp, South Sudan 45 Zaatari Syrian refugee camp 6, 40, 41–73, 86, 89, 100, 163, 173, 308, 331, 332, 334, 335, 348, 349 declining population 57 education 67, 71, 349 informal economy 43, 45, 47, 57, 61, 64, 71, 72, 86 smuggler children 42, 46–8, 68 supermarkets 48–53, 64, 348 trade development 43–57, 67–70, 71, 72 UNHCR cedes control 44–6 Zaire 152, 154, 155–6, 159, 361 Zorrones 324 TRANSWORLD PUBLISHERS 61–63 Uxbridge Road, London W5 5SA penguin.co.uk Transworld is part of the Penguin Random House group of companies whose addresses can be found at global.penguinrandomhouse.com.


Driverless Cars: On a Road to Nowhere by Christian Wolmar

Airbnb, autonomous vehicles, Beeching cuts, bitcoin, Boris Johnson, BRICs, carbon footprint, Chris Urmson, cognitive dissonance, congestion charging, connected car, deskilling, Diane Coyle, don't be evil, Elon Musk, high net worth, RAND corporation, ride hailing / ride sharing, self-driving car, Silicon Valley, smart cities, Tesla Model S, Travis Kalanick, wikimedia commons, Zipcar

However, the relationship quickly soured when he found himself being charged for a ride in one of the taxis, despite Uber’s promise that all journeys would be free during the experimental phase. The mayor also claimed that the company broke its commitment to allow city officials access to the data from trips taken by its passengers. As an embittered Peduto told the New York Times: ‘When it came to what Uber and what Travis Kalanick wanted, Pittsburgh delivered, but when it came to our vision of how this industry could enhance people, planet and place, that message fell on deaf ears.’ 13 This contrast between the imminent driverless revolution presented in the headlines and the reality in the details of the story is almost a daily feature of news coverage of the issue. On the day I was working on this chapter, my eye was caught by a headline on the ­Mirror’s website that read ‘Domino’s launches ROBOT pizza deliveries in Europe’.

He bases his prediction not on 24 The hard sell any assessment of the current state of the technology but on the rate of adoption of other innovations: The technology adoption cycle has been steadily compressing. While it took approximately 50 years for electricity to be adopted by 60% of US households, it took cell phones only about 10 years and … smartphones only about five years to reach the same penetration. A more sober assessment was made by the New York Times in August 2017 in an article responding to the claim by Travis Kalanick (by then recently deposed as Uber CEO) that its vehicles would be entirely driverless by 2030: Most experts (including those previously bullish on self-driving technology, such as the editors of The Economist magazine) have recognized that autonomous vehicles are at least 20 years from fruition. We will continue to see various experiments, and autonomous service vehicles used in very limited settings, but Mr.

Anthony Foxx, then US Transportation Secretary, claimed in January 2016 that driverless cars would be in use all over the world by 2025. And yet even an article headed ‘Elon Musk is right: driverless cars will arrive by 2021’ on a website called ‘The Next Web’ concluded that ‘2021 might be a tad optimistic but it seems we are closer than decades away.’ It is not only politicians, the auto manufacturers and tech companies making these predictions either. Uber’s (later-ejected) chief executive Travis Kalanick tweeted in August 2015 that he expected Uber’s fleet to be driverless by 2030 and that the service would then be so inexpensive and ubiquitous that car ownership would be obsolete. However, as we have seen, Uber has not found it so easy to dispense with drivers. Uber, in fact, sees getting rid of drivers as key to its ultimate profitability; it is currently losing billions of dollars annually, more than any other tech start-up company: a staggering $3 billion in 2016, not including its operations in China, where it probably lost another $1 billion.


pages: 416 words: 100,130

New Power: How Power Works in Our Hyperconnected World--And How to Make It Work for You by Jeremy Heimans, Henry Timms

"side hustle", 3D printing, 4chan, Affordable Care Act / Obamacare, Airbnb, augmented reality, autonomous vehicles, battle of ideas, Benjamin Mako Hill, bitcoin, blockchain, British Empire, Chris Wanstrath, Columbine, Corn Laws, crowdsourcing, David Attenborough, Donald Trump, Elon Musk, Ferguson, Missouri, future of work, game design, gig economy, hiring and firing, IKEA effect, income inequality, informal economy, job satisfaction, Jony Ive, Kibera, Kickstarter, Lean Startup, Lyft, Mark Zuckerberg, Minecraft, Network effects, new economy, Nicholas Carr, obamacare, Occupy movement, profit motive, race to the bottom, ride hailing / ride sharing, rolodex, Saturday Night Live, sharing economy, Silicon Valley, six sigma, Snapchat, social web, TaskRabbit, the scientific method, transaction costs, Travis Kalanick, Uber and Lyft, uber lyft, upwardly mobile, web application, WikiLeaks

UBER’S VICIOUS CIRCLE The Kony 2012 story offers a dramatic illustration of how the circle of actors around a new power community can impact its fate. We see similar challenges playing out on a much larger scale with some well-known new power models. In the previous chapter, we saw how out of whack Uber’s triangle has become. In 2017, as those tensions started to reverberate around its wider circle, they cost founder and CEO Travis Kalanick his job. Over the years, Uber had almost seemed to delight in picking fights with others in its circle. In 2014, Travis Kalanick explained Uber’s worldview this way: “We’re in a political campaign, and the candidate is Uber and the opponent is an asshole named Taxi.” (It is fair to say, given Kalanick’s own personal brand, that Taxi might see its opponent in similar terms.) Initially, Uber could rely on the support and energy of its drivers. But, as Fast Company’s Sarah Kessler observed, taxi drivers and Uber drivers began to recognize their common interests in the fight for better pay and conditions.

In contrast, those with old power values celebrate the virtues of being a great (and sometimes ruthless) competitor, defined by your victories. Dividing the world into winners and losers, this mindset considers success a zero-sum equation. It is the classic thinking behind much of corporate life and essential to the culture of sales teams in almost every industry. Donald Trump is steeped in these values, as is Uber, especially under the leadership of its co-founder and former CEO Travis Kalanick. Despite its new power model, Uber has a track record of sabotaging its competitors, intimidating journalists, and hoodwinking government regulators to come out on top. In a leaked document that detailed what it looked for in employees, Uber highlights “fierceness” and “super-pumpedness,” all part of a “hustle” culture. It’s worth noting that while norms around collaboration and “sharing” are now all the rage in our business and culture, that doesn’t mean they always produce better outcomes.

Lyft came to life as “your friend with a car,” with a giant pink mustache amiably perched on the grille, riders hopping in the front seat and fist-bumping the driver a hello. Over time, Lyft has mostly ditched the mustaches and the fist-bumping, but still positions itself as trying to get closer to its drivers, and its riders. Uber is defined by its remoteness—with a cutthroat “bro” culture that has created a toxic relationship with its key constituents and led to the downfall of founder and CEO Travis Kalanick. A typical comment from Kalanick, anticipating driverless cars, summed up the company’s attitude, casting its drivers as little more than a cost center: “The reason Uber could be expensive is because you’re not just paying for the car—you’re paying for the other dude in the car.” Yet the Uber story goes much deeper than the personal failings of Kalanick. The culture he enabled and represented came to define the company.


pages: 527 words: 147,690

Terms of Service: Social Media and the Price of Constant Connection by Jacob Silverman

23andMe, 4chan, A Declaration of the Independence of Cyberspace, Airbnb, airport security, Amazon Mechanical Turk, augmented reality, basic income, Brian Krebs, California gold rush, call centre, cloud computing, cognitive dissonance, commoditize, correlation does not imply causation, Credit Default Swap, crowdsourcing, don't be evil, drone strike, Edward Snowden, feminist movement, Filter Bubble, Firefox, Flash crash, game design, global village, Google Chrome, Google Glasses, hive mind, income inequality, informal economy, information retrieval, Internet of things, Jaron Lanier, jimmy wales, Kevin Kelly, Kickstarter, knowledge economy, knowledge worker, late capitalism, license plate recognition, life extension, lifelogging, Lyft, Mark Zuckerberg, Mars Rover, Marshall McLuhan, mass incarceration, meta analysis, meta-analysis, Minecraft, move fast and break things, move fast and break things, national security letter, Network effects, new economy, Nicholas Carr, Occupy movement, optical character recognition, payday loans, Peter Thiel, postindustrial economy, prediction markets, pre–internet, price discrimination, price stability, profit motive, quantitative hedge fund, race to the bottom, Ray Kurzweil, recommendation engine, rent control, RFID, ride hailing / ride sharing, self-driving car, sentiment analysis, shareholder value, sharing economy, Silicon Valley, Silicon Valley ideology, Snapchat, social graph, social intelligence, social web, sorting algorithm, Steve Ballmer, Steve Jobs, Steven Levy, TaskRabbit, technoutopianism, telemarketer, transportation-network company, Travis Kalanick, Turing test, Uber and Lyft, Uber for X, uber lyft, universal basic income, unpaid internship, women in the workforce, Y Combinator, Zipcar

Companies such as Lyft, Uber, and Sidecar provide taxi-type services, but they almost never call themselves taxi or transportation companies. This is because the transportation industry is highly regulated, something that Uber would like to disrupt. Government, with its pernicious regulatory apparatus, is simply making the market inefficient and costing consumers and businesspeople in both cash and intimacy with one another. (For a time, Travis Kalanick, Uber’s founder, used a cropped cover of Ayn Rand’s Atlas Shrugged for his Twitter avatar before replacing it with a drawing of Alexander Hamilton’s face. Promoting individual economic liberty is presented as part of the company’s mandate.) In the case of Lyft, potential drivers have to apply for work through their Facebook accounts. Once a driver is approved, he receives a fluffy pink mustache to affix to the front of his car.

, 149–50 Jezebel blog, 169 Jobs, Steve, 3 Johnson, Benny, 116 journalism and conflicting reports, 108–9 false stories leading to contact with targets, 107–8 feedback loop on social media, 97 immediacy of report vs. facts, 108–10, 113–14 outrage and grievance applied to, 120–21 and tenor of the viral Web, 102–3 See also news organizations journalists overview, ix, 102–3 climate change writer, 333–35, 336–37, 340–41, 343, 346, 347 information overwhelm, 334–36, 340 and social media, 108, 148 and social news, 127 and unconfirmed reports, 110 and virality, 102–3, 105 junk mail with “Daughter Killed in a Car Crash” in address, 279–80 Jurgenson, Nathan, 61 Just Mugshots, 208 Kalanick, Travis, 235 Kardashian, Kim, 67 Karim, Jawed, 15 Karp, David, 27, 29–30 Keller, Jared, 84, 144 Kelly, Kevin, 280–81, 282 Kelly, Ray, 287 Kickstarter Web site, 84 Kirn, Walter, 142–43 Klein, Ezra, 124 Klout, 194–96, 200 Know More Web site (Washington Post:Wonkblog), 123–24 Kunkel, Benjamin, 274 Kurzweil, Ray, 5 labor markets overview, 226, 234–35, 247 Amazon’s Mechanical Turk, 90, 226, 228, 229–30 exploitative nature of, 228–30, 243–44 Gigwalk, 232 social media compared to, 227 TaskRabbit, 222–26, 236–37, 242, 245 workers trapped by, 231–33 See also employment; fractional work Landy, Andy, 187–88 Lanier, Jaron, 138–39, 328 Lasch, Christopher, 23, 45, 319, 342, 343, 345 Law, Rachel, 357–58 Lazewatsky, Miriam, 79–80 Leibovitz, Liel, 348–49 Lenddo, 309 Lenticular printing, 299–300 Leonard, Franklin, 182–83 Lévi-Strauss, Claude, 167–68 libel lawsuit, 113 libertarianism, 1–3, 19.


pages: 380 words: 109,724

Don't Be Evil: How Big Tech Betrayed Its Founding Principles--And All of US by Rana Foroohar

"side hustle", accounting loophole / creative accounting, Airbnb, AltaVista, autonomous vehicles, banking crisis, barriers to entry, Bernie Madoff, Bernie Sanders, bitcoin, book scanning, Brewster Kahle, Burning Man, call centre, cashless society, cleantech, cloud computing, cognitive dissonance, Colonization of Mars, computer age, corporate governance, creative destruction, Credit Default Swap, cryptocurrency, data is the new oil, death of newspapers, Deng Xiaoping, disintermediation, don't be evil, Donald Trump, drone strike, Edward Snowden, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, Etonian, Filter Bubble, future of work, game design, gig economy, global supply chain, Gordon Gekko, greed is good, income inequality, informal economy, information asymmetry, intangible asset, Internet Archive, Internet of things, invisible hand, Jaron Lanier, Jeff Bezos, job automation, job satisfaction, Kenneth Rogoff, life extension, light touch regulation, Lyft, Mark Zuckerberg, Marshall McLuhan, Martin Wolf, Menlo Park, move fast and break things, move fast and break things, Network effects, new economy, offshore financial centre, PageRank, patent troll, paypal mafia, Peter Thiel, pets.com, price discrimination, profit maximization, race to the bottom, recommendation engine, ride hailing / ride sharing, Robert Bork, Sand Hill Road, search engine result page, self-driving car, shareholder value, sharing economy, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, smart cities, Snapchat, South China Sea, sovereign wealth fund, Steve Jobs, Steven Levy, subscription business, supply-chain management, TaskRabbit, Telecommunications Act of 1996, The Chicago School, the new new thing, Tim Cook: Apple, too big to fail, Travis Kalanick, trickle-down economics, Uber and Lyft, Uber for X, uber lyft, Upton Sinclair, WikiLeaks, zero-sum game

Thiel says he finds the general population’s acceptance of the prospect of death “pathological,” and, along with Amazon CEO Jeff Bezos and Google’s Sergey Brin, has spent millions supporting “life extension” research dedicated to “ending aging forever.”9 This, I suppose, is only slightly more ambitious a goal than those of his PayPal partner Elon Musk, also the founder of Tesla and SpaceX, who envisions supersonic commuter travel and colonizing Mars in the not too distant future (though how he’ll fund it is anyone’s guess, since he keeps tanking the price of Tesla’s stock with his security-law-violating tweets, whiskey-and-cannabis-induced rants, and false claims about the company’s financial profile). You could argue that all of this is simply part of the “think different” mind-set, one that is necessary for entrepreneurship and radical change. The problem is that with it often comes a strong sense of entitlement and a weak sense of responsibility for any consequence of one’s actions. Uber’s Travis Kalanick, who became infamous for calling his company “Boober”—a crude reference to how it helped him get dates—is a great example of how this sort of tunnel vision can manifest.10 This wasn’t just adolescent posturing or “locker room talk,” either; it’s just one of many examples of the toxic, misogynistic culture that eventually resulted in his resignation as CEO. Corporate sex scandals are the canaries in the coal mine of the business world: omens that foretell larger troubles plaguing the organizational culture.

These are pressing questions, because as we’ve already seen, not just from Amazon or Google, but from start-ups like Airbnb and Uber as well, digital giants can come from out of nowhere and disrupt incumbents, consumers, workers, and even entire cities in one fell swoop, at a pace that would have once been unthinkable. CHAPTER 8 The Uberization of Everything February 2017 wasn’t a good month for former Uber CEO Travis Kalanick. The ubiquitous ride-hailing business he founded had been drawing criticism from municipal lawmakers and union activists—particularly in large cities like New York and San Francisco—for years, but their PR crisis reached a boiling point following a series of scandals that started with a blog post from a former engineer, Susan Fowler, alleging harassment and rampant sexism at the company. That news went viral in the same month that Waymo, an autonomous vehicle unit owned by Google’s parent company, Alphabet, filed a federal lawsuit against the ridesharing company alleging that a software engineer had stolen its trade secrets and taken them to Uber, which is developing its own autonomous vehicles.

Katy Steinmetz and Matt Vella, “Uber Fail: Upheaval at the World’s Most Valuable Startup Is a Wake-Up Call for Silicon Valley,” Time, June 15, 2017. 4. Sheelah Kolhatkar, “At Uber, a New CEO Shifts Gears,” The New Yorker, March 30, 2018. 5. Hook, “Uber.” 6. Eric Newcomer, Sonali Basak, and Sridhar Natarajan, “Uber’s Blame Game Focuses on Morgan Stanley After Shares Drop,” Bloomberg Businessweek, May 20, 2019. 7. Rana Foroohar, “Travis Kalanick: With His $62.5 Billion Startup, the Uber Founder Is Changing the Nature of Work,” Time, 2015. 8. Theron Mohamed, “Uber Is Paying Drivers up to $40,000 Each to Celebrate Its IPO,” Markets Insider, April 26, 2019. 9. Alex Rosenblat, Uberland: How Algorithms Are Rewriting the Rules of Work (Oakland: University of California Press, 2018), 5. 10. Ibid., 98, 203. 11. Rob Wile, “Here’s How Much Lyft Drivers Really Make,” CNN Money, July 11, 2017. 12.


pages: 252 words: 78,780

Lab Rats: How Silicon Valley Made Work Miserable for the Rest of Us by Dan Lyons

Airbnb, Amazon Web Services, Apple II, augmented reality, autonomous vehicles, basic income, bitcoin, blockchain, business process, call centre, Clayton Christensen, clean water, collective bargaining, corporate governance, corporate social responsibility, creative destruction, cryptocurrency, David Heinemeier Hansson, Donald Trump, Elon Musk, Ethereum, ethereum blockchain, full employment, future of work, gig economy, Gordon Gekko, greed is good, hiring and firing, housing crisis, income inequality, informal economy, Jeff Bezos, job automation, job satisfaction, job-hopping, John Gruber, Joseph Schumpeter, Kevin Kelly, knowledge worker, Lean Startup, loose coupling, Lyft, Marc Andreessen, Mark Zuckerberg, McMansion, Menlo Park, Milgram experiment, minimum viable product, Mitch Kapor, move fast and break things, move fast and break things, new economy, Panopticon Jeremy Bentham, Paul Graham, paypal mafia, Peter Thiel, plutocrats, Plutocrats, precariat, RAND corporation, remote working, RFID, ride hailing / ride sharing, Ronald Reagan, Rubik’s Cube, Ruby on Rails, Sam Altman, Sand Hill Road, self-driving car, shareholder value, Silicon Valley, Silicon Valley startup, six sigma, Skype, Social Responsibility of Business Is to Increase Its Profits, software is eating the world, Stanford prison experiment, stem cell, Steve Jobs, Steve Wozniak, Stewart Brand, TaskRabbit, telemarketer, Tesla Model S, Thomas Davenport, Tony Hsieh, Toyota Production System, traveling salesman, Travis Kalanick, tulip mania, Uber and Lyft, Uber for X, uber lyft, universal basic income, web application, Whole Earth Catalog, Y Combinator, young professional

“No one stopped them from running massive sociological and psychological experiments on their users,” Roger McNamee, a Silicon Valley venture capitalist and early Facebook backer, wrote in Washington Monthly in the spring of 2018, in an article calling for greater regulation of Facebook and other online platforms. In fifth place on the Vanity Fair list was Tesla CEO Elon Musk, whose factory workers complained to the Guardian in 2017 about stressful, dangerous working conditions, and overworked colleagues collapsing on the production floor. Also on the list were Uber founder Travis Kalanick and his successor as Uber CEO Dara Khosrowshahi, whose company exploits drivers so badly that they have repeatedly sued the company. In 2016, Uber offered a proposed $100 million settlement for a lawsuit brought by drivers demanding to be categorized as employees, with salaries and benefits. Exploiting workers is paying off. Many of these VCs and founders are worth billions. But they have driven wealth inequality to insane levels and brought banana-republic economics to Silicon Valley.

I asked the Germans, “What could you possibly learn from these people?” They seemed mostly bemused. Some companies try to instill a little bit of Silicon Valley culture by building miniature start-ups inside their old-company walls, hiring Millennials who fan out across the organization, wearing Converse sneakers and untucked shirts, running hackathons and teaching oldsters how to get “super pumped” and “mastermind some shit” in a “jam sesh,” as Uber founder Travis Kalanick once put it. Also, many companies are latching on to faddish Silicon Valley management methodologies, like Agile and Lean Startup, because they are convinced that these tech-spawned ideas will make them as nimble as start-ups. Basically, they want a transfusion. They want that teenage boy blood. They are old and slow and bloated, with weak hearts and clogged arteries. Most of all, they’re scared.

Netflix’s revenues grew 30 percent in 2017, and the company turned a profit, but Netflix also burns more cash than it generates. The company has obligations of more than $28 billion, some of it debt raised by selling junk bonds, a risky strategy that “recalls the dot-com era,” as Crain’s New York Business put it in a May 2018 article. Uber, despite its claims about a culture that produces “diamonds,” stumbled in 2017, specifically because of its culture. After a string of scandals, the board fired Travis Kalanick, the company’s CEO and founder. The Old Guys Not so long ago it was considered admirable for CEOs to care about the welfare of their employees and their families. CEOs bragged about providing employees with steady, secure employment. Some companies paid employees more than they needed to, and gave people a chance to move up inside the organization. They created bonus plans and profit sharing, and offered medical benefits and pensions.


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Life as a Passenger: How Driverless Cars Will Change the World by David Kerrigan

3D printing, Airbnb, airport security, Albert Einstein, autonomous vehicles, big-box store, butterfly effect, call centre, car-free, Cesare Marchetti: Marchetti’s constant, Chris Urmson, commoditize, computer vision, congestion charging, connected car, DARPA: Urban Challenge, deskilling, disruptive innovation, edge city, Elon Musk, en.wikipedia.org, future of work, invention of the wheel, Just-in-time delivery, loss aversion, Lyft, Marchetti’s constant, Mars Rover, megacity, Menlo Park, Metcalfe’s law, Minecraft, Nash equilibrium, New Urbanism, QWERTY keyboard, Ralph Nader, RAND corporation, Ray Kurzweil, ride hailing / ride sharing, Rodney Brooks, Sam Peltzman, self-driving car, sensor fusion, Silicon Valley, Simon Kuznets, smart cities, Snapchat, Stanford marshmallow experiment, Steve Jobs, technoutopianism, the built environment, Thorstein Veblen, traffic fines, transit-oriented development, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, Unsafe at Any Speed, urban planning, urban sprawl, Yogi Berra, young professional, zero-sum game, Zipcar

MOD=AJPERES [107] https://waymo.com/apply/ [108] https://medium.com/waymo/introducing-waymos-suite-of-custom-built-self-driving-hardware-c47d1714563 [109] https://techcrunch.com/2017/01/08/waymo-reveals-completely-homegrown-sensor-suite-for-pacifica-autonomous-test-car/ [110] https://medium.com/@christianhern/self-driving-cars-as-the-new-toolbar-8c8a47a3c598 [111] https://www.tesla.com/blog/master-plan-part-deux [112] https://www.tesla.com/blog/your-autopilot-has-arrived [113] https://www.tesla.com/blog/all-tesla-cars-being-produced-now-have-full-self-driving-hardware [114] http://www.nvidia.com/object/drive-px.html [115] https://www.tesla.com/blog/master-plan-part-deux [116] http://uk.businessinsider.com/travis-kalanick-interview-on-self-driving-cars-future-driver-jobs-2016-8?r=US&IR=T [117] http://uk.businessinsider.com/travis-kalanick-interview-on-self-driving-cars-future-driver-jobs-2016-8?r=DE&IR=T [118] https://www.nytimes.com/2017/05/14/technology/lyft-waymo-self-driving-cars.html?_r=0 [119] http://mobile.reuters.com/article/idUSKBN0TX0VB20151214#PUdiIB2o4QBfK5m5.97 [120] https://techcrunch.com/2017/04/18/baidu-project-apollo/ [121] http://fortune.com/2015/11/17/uber-disruption-christensen/ [122] https://www.regulations.gov/document?

Tesla owners however won’t be permitted to use their self-driving Tesla to pick up people using a competitive ride-hailing app such as Uber. Rather, they Tesla documentation states they can only do so as part of what is now being called the Tesla Network. Uber "If we are not tied for first, then the person who is in first, or the entity that's in first, then rolls out a ride-sharing network that is far cheaper or far higher-quality than Uber's, then Uber is no longer a thing" Travis Kalanick, Uber CEO[116] San Francisco-based ride-hailing company Uber is also a high-profile member of the race for driverless car technology. It signalled its intent in the space launching a test vehicle on the streets of Pittsburgh, in partnership with Carnegie Mellon University. Its Advanced Technology Group (ATG) had worked to outfit a Ford Fusion with a combination of radar, LiDAR and cameras, as well as developing the software required to interpret the sensor data.

An early Uber Self Driving Car Prototype. Image courtesy Uber. Their next generation test vehicles, built in collaboration with Volvo, show a more streamlined set of sensors. Uber also grabbed headlines when they purchased Otto, a start-up team working on self-driving trucks for over $600m, but we’ll return to the topic of commercial vehicles in Chapter 5. Image Courtesy Uber. Uber CEO Travis Kalanick believes that driverless cars pose an existential risk to Uber,[117] and they are working hard to catch up with others in the area. Their big fear is that if someone else develops driverless cars first and launches a fleet of vehicles, they would be able to offer rides at a fraction of the cost that Uber charge, where the bulk of the ride cost is the cost of the driver. In May 2017, Uber’s biggest rival in the US, Lyft, announced a partnership with Waymo, just as Waymo and Uber were embroiled in a legal battle over Intellectual Property concerning LiDAR.[118] Baidu China's top online search firm Baidu said in 2015 it aims to put self-driving vehicles on the road in three years and mass produce them within five years, after it set up a business unit to oversee all its efforts related to automobiles.[119] In a surprise follow up announcement, Baidu revealed it would make its driverless cars technology, including its vehicle platform, hardware platform, software platform and cloud data services, freely available to others, particularly car manufacturers, to develop autonomous vehicles.[120] A Baidu driverless car prototype.


pages: 596 words: 163,682

The Third Pillar: How Markets and the State Leave the Community Behind by Raghuram Rajan

activist fund / activist shareholder / activist investor, affirmative action, Affordable Care Act / Obamacare, airline deregulation, Albert Einstein, Andrei Shleifer, banking crisis, barriers to entry, basic income, battle of ideas, Bernie Sanders, blockchain, borderless world, Bretton Woods, British Empire, Build a better mousetrap, business cycle, business process, capital controls, Capital in the Twenty-First Century by Thomas Piketty, central bank independence, computer vision, conceptual framework, corporate governance, corporate raider, corporate social responsibility, creative destruction, crony capitalism, crowdsourcing, cryptocurrency, currency manipulation / currency intervention, data acquisition, David Brooks, Deng Xiaoping, desegregation, deskilling, disruptive innovation, Donald Trump, Edward Glaeser, facts on the ground, financial innovation, financial repression, full employment, future of work, global supply chain, high net worth, housing crisis, illegal immigration, income inequality, industrial cluster, intangible asset, invention of the steam engine, invisible hand, Jaron Lanier, job automation, John Maynard Keynes: technological unemployment, joint-stock company, Joseph Schumpeter, labor-force participation, low skilled workers, manufacturing employment, market fundamentalism, Martin Wolf, means of production, moral hazard, Network effects, new economy, Nicholas Carr, obamacare, Productivity paradox, profit maximization, race to the bottom, Richard Thaler, Robert Bork, Robert Gordon, Ronald Reagan, Sam Peltzman, shareholder value, Silicon Valley, Social Responsibility of Business Is to Increase Its Profits, South China Sea, South Sea Bubble, Stanford marshmallow experiment, Steve Jobs, superstar cities, The Future of Employment, The Wealth of Nations by Adam Smith, trade liberalization, trade route, transaction costs, transfer pricing, Travis Kalanick, Tyler Cowen: Great Stagnation, universal basic income, Upton Sinclair, Walter Mischel, War on Poverty, women in the workforce, working-age population, World Values Survey, Yom Kippur War, zero-sum game

This view became particularly influential when a study by Michael Jensen and Kevin Murphy in 1990 found that for every $1,000 change in shareholder wealth in the United States, the wealth of top management went up by only $3.25.41 The authors suggested it should be much more. Corporate chieftains obviously loved this message. Second, large activist shareholders ought to monitor firm management and push it to do the right thing for shareholders—a recent example was when the influential shareholders of the vehicle hire company Uber came together to depose the CEO, Travis Kalanick, whose aggressive management style and actions were apparently eroding Uber’s business prospects. Finally, there should be an active market for corporate control, where raiders could take over the management of underperforming corporations, even if existing management resisted. The raiders would gain from bringing in their own management and increasing share value in the most poorly managed firms, while the fear of hostile takeovers would discipline behavior in even the better-managed firms.

., 341 Janesville (Goldstein), 186 Japan, 157, 160, 302, 368, 380 aging population in, 292–93 currency in, 366 immigration and, 292–93 income in, 191 in postwar period, 148, 153 protectionism in, 354 Jeffers, Jessica, 205 Jefferson, Thomas, 58 Jensen, Michael, 196 Jiang Zemin, 251 jobs, xii, xviii, 163, 164, 224, 343, 389, 395 African Americans and, 230–31 credentials and, 233–34, 317, 393 ICT revolution and, 143–44, 173, 175, 177–88, 395 and lump of labor fallacy, 180 mercantilism and, 62–63 occupational licensing and, 206–7, 387–88, 393 Second Industrial Revolution and, 122 see also income and wages; workers Johnson, Lyndon, 157–58, 229 Juncker, Jean-Claude, 172 Jungle, The (Sinclair), 104 Justice, US Department of, 202 Kahn, Alfred, 165 Kalanick, Travis, 196 Kaplan, Steve, 192 Katz, Bruce, 303 Kautilya, 31 Keynes, John Maynard, 154, 163, 395 Khan, Khizr, xxi Khilnani, Sunil, 298 Khodorkovsky, Mikhail, 111 Kim, Han, 220 King, Martin Luther, Jr., 157, 158, 397 Kleiner, Morris, 207 knowledge, diffusion of, 204–6 Krueger, Alan, 207 Kyoto Protocol, 365 laissez-faire, 77–78, 81, 83 landowners, 37, 58, 72, 74 gentry, 54–58, 64–66, 71, 72 Lasch, Christopher, 227 Latin America, 72, 93, 96 Lee Kuan Yew, 247 LEGO, 391 lending, see loans Le Pen, Marine, 236 Lerner, Josh, 362 Levine, David, 382–83 liberal democracy, 74–75 liberalism, 83, 160 liberalization, 206 in China, 248–67, 276 in India, 269–71, 273, 276 private sector’s reaction to, 194–201, 207–8 liberal market democracies, xiii, xx, xxvii libertarianism, 115 limited-access societies, 97–98 Lindsey, Brink, 205 loans, 44–45, 48 contract in, 29–31 see also usury lobbying, 378, 389 localism, xxi, xxviii, 285, 286, 303 inclusive, xxii, 22, 285–87, 289–302, 327, 351, 394 long-term benefits of, 303 location, importance of, 219–21 Long, Huey, 136 looms, 18–19, 116, 188 Louis XIV, King, 60, 65, 66 Luce, Edward, 227 Luther, Martin, 46 Madison, James, 97, 218 magnates, decline of, 53–54 Mahajan, Vijay, 337 Malthus, Thomas Robert, 83 Mann, Horace, 121 manufacturing, 152, 184–85, 206 Mao Zedong, 247–50 markets, xiii, xv, xvii–xviii, xx, xxii, xxvii–xxviii, 25–27, 50, 56, 77–106, 145, 154, 172, 173, 243–44, 283, 184, 285–87, 304, 393, 394 community adjustment to, 388–92 community and state buffers against volatility in, 127–38 community loss of faith in, 115–19 community values and, 390–92 competition in, see competition data in, 384–86 definition of, xiv democracy and, 106, 110 emerging, 245, 271; see also China; India fairness in, 115–16 freeing, 80–81 laissez-faire and, 77–78, 81, 83 liberalization of, see liberalization liberal market democracies, xiii, xx, xxvii perceived legitimacy of players in, 110–12 philosophy for, 81–84 reforming, 373–92 separation from community, xiv–xv state and, 304 transactions in, 3, 4 unbridled, 84–87 see also trade marriage, 231, 235 Marshall Plan, 149–51, 365 marshmallow test, 222–23 Marx, Karl, 49, 78, 87–91 Marxism, 87–91, 112, 115, 249, 287 Maximum Feasible Misunderstanding (Moynihan), 158 McClure’s Magazine, 103 McKinley, William, 106 McLean, Malcolm, 181 meatpacking industry, 104, 107–8 Medicare, 241, 324 mercantilism, 62–65, 80 Merchant of Venice, The (Shakespeare), 30 meritocracy, 390, 393 children and, 224–25, 228 in China, 257, 265 Merkel, Angela, 241 military technologies, 42–44, 51, 53 Mill, Harriet, 81 Mill, John Stuart, 81–83 minorities, 218, 219, 289, 296–97 affirmative action and, 300–302 see also African Americans; immigration, immigrants Mischel, Walter, 223 misery index, 163 Mitterand, François, 168 Mokyr, Joel, 20, 21 monarchy, 51–53, 56–59, 61–63, 65, 73 monasteries, 54, 57, 72 moneylending, see loans Monnet, Jean, 154 monopolies, 58–62, 64, 80, 81, 87, 91, 97, 99, 105, 106, 108, 109, 112, 201–7, 283, 379–82 antitrust laws and, 101, 103–4, 381–82 Montegrano, 12–14, 113, 227 Moore, Barrington, 73 Moretti, Enrico, 220 Morgan, John Pierpont, 99, 104 Morse, Adair, 220 Moynihan, Daniel Patrick, 158, 340 multilateral institutions, 367–70 Murphy, Kevin, 196 Murray, Charles, 227 muskets, 42–43 Muslims, 21, 35, 36, 241, 242, 272, 277 Napoleon I, 126 nationalism, xvii, 64, 184, 330, 397 civic, 297–99, 302 ethnic, 215–17; see also populist nationalism mercantilism and, 63 populist, see populist nationalism Nation at Risk, A, 232–33 nation-states, 26, 42, 50, 51–52, 61–62 Nehru, Jawaharlal, 267, 270, 287, 298 neighborhoods, 297 isolation index and, 333 sorting and, see residential sorting see also community Netville, 331–32 Neumann, Franz, 112 New Deal, 134–35 New Localism, The (Katz and Nowak), 303 news consumption, and diversity of opinions, 332–33 New York Times, 19, 98, 218, 387 Nixon, Richard, 98, 108 North, Douglass, 70, 97 Nowak, Jeremy, 303 Obama, Barack, xvii, 158, 235, 240 India visited by, 273 Obama, Michelle, 240 Obamacare, 144, 214, 239–41 Oceana (Harrington), 58 oil industry, 84–86, 99, 103, 107, 111 Oliver, Douglas, 9 one percent, 102, 191–94 On Liberty (Mill), 81–83 open-access societies, 98 Opium Wars, 349–50 Organization for Economic Co-operation and Development (OECD), 189–90 Our Towns: A 100,000-Mile Journey into the Heart of America (Fallows and Fallows), 344 Owen, Robert, 88 Owens, Ann, 226 Papal Revolution, 38, 40 parents, 222–31, 343 Paris Agreement, 365 parliaments, 77, 78–79 English, 57, 60–62, 65–70, 74, 77, 84, 105 patents, 204–6, 362, 382–84 patriotism, 298 peasants, 37–38, 73, 74, 78 see also feudalism, feudal communities Peltzman, Sam, 202 Perez, Carlotta, 118 Petersen, Mitchell, 15, 219 pharmaceutical drugs and companies, 183, 184, 204, 354, 362–63, 384 Physiocrats, 77 Piketty, Thomas, 191 Pilsen community, xxii–xxvi, 12, 298, 344, 381 Pirenne, Henri, 45 plague (Black Death), 40, 41–42 Polanyi, Karl, 84 police officers, 312 politics: conflict over, 234–36 isolation index and, 332–33 left-wing, xiii, xix, xxvii, 214, 217, 394 right-wing, xiii, xix, 214–17, 394 Polybius, 118 population aging, 260, 284, 286, 292–93, 324, 342–43, 348, 396 population diversity, see diversity population growth, 83, 152, 162–63 populism, xiii, xix, xxviii, 63, 136, 137, 211, 213–44, 284 in China, 276–79 and conflict over values and politics, 234–36 in Europe, 241–43 Global Financial Crisis and, 236–43 growing divide and, 218–19 in India, 272, 276–78 left-wing, 214, 217 Obamacare and, 239–41 Populist movement at turn of nineteenth century, 23, 26, 79, 98–101, 102, 105–6, 112, 244, 265 reemergence in the industrial West, 213–44 right-wing, 214–17 types of, 214–18 populist nationalism, xiii, xix–xx, xxi, xxvii, 144, 216–17, 241–44, 246, 276–79, 286, 289, 295–300, 302, 352, 353 in China, 276–79 in Europe, 241–43 in India, 276–78 why it cannot work, 296–97 Populist Revolt, The (Hicks), 99 Portugal, 148, 238 Poterba, James, 140 poultry farms, 354–55, 357 poverty, 396 African Americans and, 157 Elberfeld system of assistance, 129–31, 320 War on, 158, 160, 229 Powell, Enoch, 159 presidential election of 2016, 235, 236, 333, 354 Price, Brendan, 185 Princeton University, 125 printing press, 41–42, 46 private sector, 107–8, 111, 139, 147, 283, 284, 352, 371 liberalization and, 194–201, 207–8 Progressives, 26, 79, 98–99, 102–6, 112, 124, 134, 137, 244, 265 property, 26, 52, 57, 58, 74, 79, 83, 103, 115, 352, 362, 374, 394 competition and, 286 intellectual, see intellectual property land, see landowners taxes on, 121, 123 as theft, 110–11 protectionism, 108, 258–59, 278, 306, 353–56, 364 Protestant Ethic and the Spirit of Capitalism, The (Weber), 47 Protestant Reformation, 40–41, 47, 49 Protestants, 48, 49 public hearings, 389–90 Putnam, Robert, 227, 334 Quakers, 16–17, 230 race, see ethnicity and race race to the bottom, 358–60 railroad industry, 85, 87, 99, 101 Ramanathan, Swati, 312 Ramcharan, Rodney, 72 ranchers, 9–10, 11 Rand, Ayn, 80, 391 R&D, 183–84 Rashtriya Swayamsevak Sangh (RSS), xix, 277 Rauh, Joshua, 192 Rawls, John, 115 Raymundo, Raul, xxiii, xxvi Reagan, Ronald, 165, 194, 232 Reeves, Richard, 224 Reformation, 40–41, 47, 49 regulation(s), 103–5, 107–8, 165, 172 antitrust, 202 of banks, 358–60 communities and, 285, 304, 306–7, 341, 357 competition and, 165, 387–88 deregulation, 165–67, 194, 197 harmonization of, 354–63, 365, 371 relief efforts, 131–33, 135 see also safety nets religion, 49, 51, 64 Protestant Reformation, 40–41, 47, 49 Protestants, 48, 49 see also Catholic Church Republicans, 235–36 residential sorting, 144, 177, 222, 227, 314 by income, 307–9 race and immigration and, 229–31 resources, policies on, 365 Resurrection Project, xxiii–xxvi Ritter, Jay, 201 Robinson, James, 94 Rockefeller, John D., 84–91, 98, 103, 104, 108, 200 Rodgers, Daniel, 334 Rodrik, Dani, 364–65, 371 Roman Republic, 58 Romney, Mitt, 235 Roosevelt, Franklin, 134–37, 156 Roosevelt, Theodore, 106 Rosen, Sherwin, 193 Russell, John, 95 Russia, 97, 287, 292, 354, 369 wealthy in, 111 Saez, Emmanuel, 191 safety nets, 139, 173, 290 caregivers and, 319–20 community and, 127–38, 318–25 in Europe, 156 government support in, 322–24 health care, see health care paying for, 324–25 for peasants, 37–38 in U.K., 155–56 in U.S., 133–34, 156, 157–58, 320–21, 324 welfare, 129, 137, 148, 158, 230 Salam, Reihan, 235 Sandel, Michael, 389–90 Sanders, Bernie, 214 Satyanath, Shaker, 112 schools, see education and schools Schumpeter, Joseph, 203, 379 Schwartz, Heather, 225–26 science, 21 “Second Coming, The” (Yeats), 141 Second Federal Bank, xxv SeeClickFix, 311–12 Sen, Amartya, 287 Shakespeare, William, 30 Shapiro, Jesse, 332–33 Share Our Wealth Society plan, 136 Shleifer, Andrei, 197 Sinclair, Upton, 104 Singapore, 247, 291, 318 Singh, Manish, 336 Singh, Manmohan, 270 Siuai people, 9 smartphones, 175, 178, 182–83 Smith, Adam, 17, 64, 77, 80–81, 83, 84, 87, 91, 105, 200 Smoot Hawley Act, 138 socialism, 132, 138, 145–47, 168, 250 in India, 267–69, 391 socializing the young, 5–7 social media, 330, 354, 386 social relationships, 7–8 social safety nets, see safety nets Social Security, 134–38, 187, 241, 324 Sokoloff, Kenneth, 72, 96 sorting, see residential sorting South Sea Company, 68, 69–70 sovereignty, 349–72 and controlling flows, 351–54 and harmonization of regulation, 354–63 Soviet Union, 91, 145–47, 153–54, 250, 251, 267, 287, 367 Spain, 148, 162, 169, 237, 238, 353–54 Spence, Michael, 234 stagflation, 163 Standard Oil, 86, 99, 103, 107 Stanford marshmallow test, 222–23 state, xiii, xv, xvii–xviii, xx–xxi, xxvii–xxviii, 25–27, 50, 139, 140, 172, 283–86, 304, 393 anti-state ideology and, 176 buffers against market volatility, 127–38 Church and, 45–46 community and, 303–25, 345–46 constitutionally limited, 52–74, 83 definition of, xiii–xiv growth of, 145 international responsibilities and, 363–67, 372, 397 laissez-faire and, 77–78, 81, 83 markets and, 304 relief efforts from, 131–33 separation from community, xiv–xv strong but limited, rise of, 51–75 sustainable financing for, 65–71 steel industries, 87, 99, 122, 185, 186, 253, 261, 338, 364, 366 European Coal and Steel Community, 150 student loans, 317–18 suffrage, see voting, suffrage Summers, Larry, 197 Supreme Court, U.S., 103, 384 Sweden, 138 Swift, Taylor, 193 Talleyrand, Charles Maurice de, 66 Tarbell, Ida, 103, 200 tariffs, 61, 63–64, 80–81, 100, 108, 138, 150–51, 164, 181–83, 217, 242, 258–59, 271, 277, 352–53, 356, 363, 364, 366, 371 General Agreement on Tariffs and Trade, 146, 150, 353 Tawney, Richard, 34–35, 46 taxes, 59, 61–62, 102–5, 156–57, 163–64, 206, 308–9, 364 for education, 121, 123 property, 121, 123 tax holidays, 341 tax incentives, 345 on towns, 59–60 universal basic income and, 322–23 tax preparation, 179, 180 Tea Party movement, 239–41, 242, 333 technology, xii, xxviii, 117, 160–62, 175–76, 283, 284, 286, 287 automation in, 18, 84, 179, 180, 284 China and, 261–62, 278 community and, 119, 335, 344–45 disruptive change from, xii–xiii, xix education and, 122–23 feudal community and, 41–42 financial crises and, 118 incomes and, 188–94 job losses from, xii, xviii public anxiety about, 116–18 winner-take-most effects of, 191–94 see also Industrial Revolution; Information and Communications Technology revolution Teles, Steven, 205 Thatcher, Margaret, 165–66, 194 three pillars, xiii, 25–27, 393, 394 balance between, xvii–xviii, 175, 394 see also community; markets; state Tiananmen Square protests, 250–51 Tiv people, 7–8 Tönnies, Ferdinand, 3–4 totalitarian regimes, 97 trade, 62–64, 80–81, 143, 146, 149–51, 154, 160, 164–65, 172, 181, 245, 271, 283, 307, 352–53, 363, 371 “beggar thy neighbor” policies and, 364 communications costs and, 181, 182 communities and, xviii–xx, 335, 352 European, with Muslim lands, 36 ICT revolution and, 143–44, 173, 181–88 incomes and, 188–94 protectionism and, 108, 258–59, 278, 306, 353–56, 364 tariffs and, see tariffs transportation costs and, 181–82 Trade Related Intellectual Property Rights Agreement (TRIPS), 362 training and socializing the young, 5–7 transactions: in communities, 3, 8–9, 10–11 market, 3, 4 Trotsky, Leon, 90 Trump, Donald, 235 Truly Disadvantaged, The (Wilson), 230 Turkey, xix, 97, 167, 190, 245 Uber, 196 Unified Payments Interface (UPI), 386 unions, 165, 198, 206, 360, 361 United Kingdom, 173 Companies Act in, 377 health care in, 156 income in, 191, 192 in Opium Wars, 349–50 safety net in, 155–56 United Nations, 367 United States, 143, 145, 149, 246, 298 African Americans in, see African Americans agriculture in, 184 China and, 278 Civil War in, 74, 93, 133–34 competitive market in, 98–105 Constitution of, 71 diversity in population of, 134 financial crises in, 87–88, 118 GI Bill in, 156, 157 Gilded Age in, 87 gold standard in, 100 government debt in, 324 growth of, 148, 162 health care in, 158, 203 hegemony of, 148, 367–69 immigration and, 137, 159–60, 292 Industrial Revolution in, 121 manufacturing in, 184–85 Marshall Plan of, 149–51, 365 in postwar period, 148 presidential election of 2016, 235, 236, 333, 354 safety net in, 133–34, 157–58, 320–21, 324 schools in, 119–25, 127, 190–91, 233–34, 317 South of, 72, 74 Supreme Court, 103, 384 voting rights in, 92–93, 96 Western settlers in, 72, 99–100 universal basic income (UBI), 322–23 universities, see colleges and universities University of Chicago, xxiii, xxvi, 87, 124–25, 164, 290–91 University of Rochester, 223 usury: Catholic Church and, 34–42, 44–46, 49 favorable public attitudes toward, 44 intellectual support for ban on, 39–40 prohibition on, 31–32 rationale for proscribing, 32–34 values: community, and tolerance for markets, 390–92 conflict over, 234–36 Virginia, 58 Voigtländer, Nico, 112 Volcker, Paul, 163 Voth, Hans-Joachim, 112 voting and suffrage, xxvii, 26, 79, 105 extension of franchise, 91–98 wages, see income and wages Wallis, John, 97 Washington Post, 108 wealth, 111, 395–96 Wealth of Nations, The (Smith), 80 weavers, 18–19, 116, 188 Weber, Max, 47, 38 Weingast, Barry, 70, 97–98 welfare, 129, 137, 148, 158, 230 Wellman, Andrew, 331 Whigs, 67, 95 William of Orange, 67 Wilson, William Junius, 230, 231 Wilson, Woodrow, 125 Wolf, Martin, 355 workers, 75, 78, 79, 87, 89, 97, 127–28 education and capabilities of, 313–18 insurance plans for, 132 rights of, 360–61 strikes by, 102 unions for, 165, 198, 206, 360, 361 see also income and wages; jobs working at a distance, 219, 220 World Bank, 151, 253–54 World Trade Organization (WTO), 353, 356, 362 World Values Survey, 297 World War I, 103, 112, 124 World War II, xxvii, 138, 139, 140, 143, 145, 146, 155–57, 210, 243, 367 Marshall Plan and, 149–51, 365 postwar period, 148–54 Wulf, Julie, 193 Xi Jinping, 261, 278 Xiushui Market, 255 Yeats, W.


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Winners Take All: The Elite Charade of Changing the World by Anand Giridharadas

"side hustle", activist lawyer, affirmative action, Airbnb, Bernie Sanders, bitcoin, Burning Man, Capital in the Twenty-First Century by Thomas Piketty, carried interest, cognitive dissonance, collective bargaining, corporate raider, corporate social responsibility, crowdsourcing, David Brooks, David Heinemeier Hansson, deindustrialization, disintermediation, Donald Trump, Edward Snowden, Elon Musk, friendly fire, global pandemic, high net worth, hiring and firing, housing crisis, Hyperloop, income inequality, invisible hand, Jeff Bezos, Kibera, Kickstarter, land reform, Lyft, Marc Andreessen, Mark Zuckerberg, new economy, Occupy movement, offshore financial centre, Panopticon Jeremy Bentham, Parag Khanna, Paul Graham, Peter Thiel, plutocrats, Plutocrats, profit maximization, risk tolerance, rolodex, Ronald Reagan, shareholder value, sharing economy, side project, Silicon Valley, Silicon Valley startup, Skype, Social Responsibility of Business Is to Increase Its Profits, Steven Pinker, technoutopianism, The Chicago School, The Fortune at the Bottom of the Pyramid, the High Line, The Wealth of Nations by Adam Smith, Thomas L Friedman, too big to fail, Travis Kalanick, trickle-down economics, Uber and Lyft, uber lyft, Upton Sinclair, Vilfredo Pareto, working poor, zero-sum game

Pishevar was among the leading venture capitalists in the Valley, a status he had cemented by placing early bets on Airbnb and Uber. Those investments earned the kind of returns that could allow one’s grandchildren to be full-time philanthropists. Pishevar was an Iranian-born immigrant whose adopted country, through its Department of Homeland Security, had named him an Outstanding American by Choice. He was a kingmaker in the Valley, whom the founder of Uber, Travis Kalanick, had reportedly leaned on as a tutor in the art of going clubbing in Los Angeles, with Pishevar providing “club clothes,” according to the New York Times. And the entrepreneurs at Summit at Sea knew that a VC like Pishevar, whose firm was called Sherpa Ventures, was in a position, should he so choose, to guide any of them to the mountaintop. This knowledge helped explain the crush of bodies that had come to see Pishevar’s talk, titled “All Aboard the Hyperloop: Supersonic Storytelling with VC Shervin Pishevar.”

The characteristic that world-changers have in common, Pishevar said, is a willingness to fight for the truth. It had nothing to do with their being more luckily born than you, unburdened by racial and gender discrimination and with greater access to seed capital from family and friends. It was that they were braver, bolder than you—some might say ruthless—willing to take on power, no matter the cost. Citing Travis Kalanick of Uber and Elon Musk of Tesla, he said, “They are most comfortable in the uncomfortable places. What that means is, they’re very comfortable having uncomfortable conversations. And most of us want to just be kumbaya, everything’s great, I’m happy, you’re happy, we’re good, besties, BFFs—and it’s like, ‘No. Fuck that. Let’s challenge each other. What’s going on here? What is the truth?’ When things get uncomfortable, the reason it’s getting uncomfortable is because there’s a conflict between something that’s true and something that’s not true.

And their success could be said to come at the expense of the critics’. For every thought leader who offered advice on how to build a career in a merciless new economy, there were many less-heard critics aspiring to make the economy less merciless. The Hilary Cohens and Stacey Ashers and Justin Rosensteins and Greg Ferensteins and Emmett Carsons and Jane Leibrocks and Shervin Pishevars and Chris Saccas and Travis Kalanicks of the world needed thinkers to formulate the visions of change by which they would live—and to convince the wider public that they, the elite, were change agents, were the solutions to the problem, and therefore not the problem. In an age of inequality, these winners longed to feel, on one hand, that they had “some kind of ethical philosophy,” as Pishevar put it. They needed language to justify themselves to themselves and others.


pages: 344 words: 104,077

Superminds: The Surprising Power of People and Computers Thinking Together by Thomas W. Malone

agricultural Revolution, Airbnb, Albert Einstein, Amazon Mechanical Turk, Apple's 1984 Super Bowl advert, Asperger Syndrome, Baxter: Rethink Robotics, bitcoin, blockchain, business process, call centre, clean water, creative destruction, crowdsourcing, Donald Trump, Douglas Engelbart, Douglas Engelbart, drone strike, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, experimental economics, Exxon Valdez, future of work, Galaxy Zoo, gig economy, happiness index / gross national happiness, industrial robot, Internet of things, invention of the telegraph, inventory management, invisible hand, Jeff Rulifson, jimmy wales, job automation, John Markoff, Joi Ito, Joseph Schumpeter, Kenneth Arrow, knowledge worker, longitudinal study, Lyft, Marshall McLuhan, Occupy movement, Pareto efficiency, pattern recognition, prediction markets, price mechanism, Ray Kurzweil, Rodney Brooks, Ronald Coase, Second Machine Age, self-driving car, Silicon Valley, slashdot, social intelligence, Stephen Hawking, Steve Jobs, Steven Pinker, Stewart Brand, technological singularity, The Nature of the Firm, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, theory of mind, Tim Cook: Apple, transaction costs, Travis Kalanick, Uber for X, uber lyft, Vernor Vinge, Vilfredo Pareto, Watson beat the top human players on Jeopardy!

Unlike the ecosystems described in this book, business ecosystems, in this sense, often have a leader and substantial amounts of cooperation among the ecosystem members. For example, both Apple and Microsoft are leaders in their respective ecosystems of IT companies. See James F. Moore, “Predators and Prey: A New Ecology of Competition,” Harvard Business Review (May–June 1993): 75–86. 2. Erin Griffith, “Why Uber CEO Travis Kalanick’s Resignation Matters,” Fortune, June 21, 2017, http://fortune.com/2017/06/21/uber-ceo-travis-kalanick-why-it-matter. 3. Charles Darwin, On the Origin of Species by Means of Natural Selection (London: John Murray, 1859). 4. Richard R. Nelson and Sidney G. Winter, An Evolutionary Theory of Economic Change (Cambridge, MA: Harvard University Press, 1982); Michael T. Hannan and John Freeman, Organizational Ecology (Cambridge, MA: Harvard University Press, 1993); Andrew W.

Markets allocate resources in a way that all the buyers and sellers agree to, but as we saw earlier, no individual in the market has that goal, and markets can be ruthless in their treatment of individuals who don’t have many resources to trade. Communities try to serve the interests of their members, but they sometimes systematically—even violently—oppress some of their members, such as those in racial and other minorities. Sometimes a supermind’s goals can even be different from those of its most powerful members. Uber, for instance, forced Travis Kalanick to resign in 2017, even though he was not only the CEO of the company; he also held a majority of the company’s voting shares.2 In some cases (like the firing of a CEO), we may be able to identify specific individuals who play a key role in a supermind’s decision. But often, the decisions just emerge from the actions of many people in the group. Who is responsible for a community’s racism, for instance?


pages: 339 words: 103,546

Blood and Oil: Mohammed Bin Salman's Ruthless Quest for Global Power by Bradley Hope, Justin Scheck

augmented reality, Ayatollah Khomeini, clean water, coronavirus, distributed generation, Donald Trump, Downton Abbey, Elon Musk, Exxon Valdez, Google Earth, high net worth, Jeff Bezos, Marc Andreessen, Mark Zuckerberg, MITM: man-in-the-middle, new economy, Peter Thiel, ride hailing / ride sharing, Sand Hill Road, Silicon Valley, South of Market, San Francisco, sovereign wealth fund, starchitect, Steve Jobs, Tim Cook: Apple, trade route, Travis Kalanick, Uber for X, urban planning, women in the workforce, young professional, zero day

The wheel gets reinvented every few days,” a person working for BCG complained. The sovereign wealth fund debut showed the world Mohammed was planning to spend. A month later he hosted US secretary of state John Kerry on his yacht the Serene. But he still needed a splashy deal to introduce the Public Investment Fund (PIF) as the new investor on the block. Not long before, Mohammed had been introduced to Travis Kalanick, founder of the then-hot start-up Uber. The men developed a rapport—the prince would later call the entrepreneur a friend—and Mohammed saw Uber as an attractive investment. The business press fawned over the company. It was expanding quickly all over the world and could play a big domestic role in Saudi Arabia, with women still prohibited from driving. Mohammed and Kalanick discussed an investment.

There was a sense that Mohammed bin Salman’s economic transformation was going to make a lot of people inside and outside the kingdom very rich, and no one wanted to jeopardize that. In the lobbies and hallways of the Ritz, Saudi government officials were in such demand that one of them remarked in private to a friend that it was like being the most popular kid in school. One of the world’s largest money managers, Blackstone’s Stephen Schwarzman, was there, along with SoftBank’s Masayoshi Son, former British prime minister Tony Blair, Uber CEO Travis Kalanick, and Hollywood kingmaker Ari Emanuel. Foreign media called the event “Davos in the Desert,” a moniker also used in the early 2000s for a World Economic Forum event in Jordan. Top CEOs, bankers, consultants, and political figures, all of them clamoring for fees or investment, lined up for meetings with Rumayyan and Mohammed. It was a scene rarely found outside gala events in the capitals of global finance.

Other executives who wanted to avoid public association with the crown prince but maintain the Saudi financial relationship gathered for an opulent roast lamb dinner under purple-lit palm trees at the home of Yasir al-Rumayyan, the man Mohammed put in charge of the sovereign wealth fund investing in Uber and SoftBank. Guests included banker Ken Moelis, Republican congressman-cum-financier Eric Cantor, and a cohort of Silicon Valley notables, including Uber founder Travis Kalanick, venture capitalist Jim Breyer, and a manager working for Peter Thiel’s firm. For some, the Saudi relationship was too valuable to scrap over a single murder. Bloomberg LP moved ahead with its joint venture with the Salman family’s media company. Jay Penske, whose firm owns Rolling Stone magazine, moved ahead with a $200 million investment from the PIF. An American hedge fund manager named John Burbank, who attended the Rumayyan dinner, put it bluntly in an interview with the Journal.


pages: 385 words: 123,168

Bullshit Jobs: A Theory by David Graeber

1960s counterculture, active measures, basic income, Berlin Wall, Bernie Sanders, Bertrand Russell: In Praise of Idleness, Bretton Woods, Buckminster Fuller, call centre, cognitive dissonance, collateralized debt obligation, David Graeber, Donald Trump, equal pay for equal work, full employment, global supply chain, High speed trading, hiring and firing, informal economy, Jarndyce and Jarndyce, Jarndyce and Jarndyce, job automation, John Maynard Keynes: technological unemployment, knowledge worker, moral panic, post-work, precariat, Silicon Valley, Silicon Valley startup, single-payer health, software as a service, telemarketer, The Future of Employment, Thorstein Veblen, too big to fail, Travis Kalanick, universal basic income, unpaid internship, wage slave, wages for housework, women in the workforce, working poor, Works Progress Administration, young professional, éminence grise

Some Belgian friends told me the net effects were extremely beneficial, as almost all major parties were committed to the then European-wide consensus about the need for austerity, but the lack of a government in Belgium at that critical moment meant reforms were not carried out, and the Belgian economy ended up growing substantially faster than its neighbors’. It’s also worth noting that Belgium does have seven different regional governments that were unaffected. 11. Caitlin Huston, “Uber IPO Prospects May Be Helped by Resignation of CEO Travis Kalanick,” MarketWatch, last modified June 22, 2017, www.marketwatch.com/story/uber-ipo-prospects-may-be-helped-by-resignation-of-ceo-travis-kalanick-2017-06-21. 12. Rutger Bregman, Utopia for Realists: The Case for Universal Basic Income, Open Borders, and a 15-Hour Workweek (New York: Little, Brown, 2017). Even police strikes rarely have the anticipated effects. In December 2015 New York police carried out a work stoppage for all but “urgent” police business; there was no effect on crime rate, but city revenues plummeted owing to the lack of fines for traffic violation and similar infractions.

These crises have been known to continue for considerable periods of time—the record so far is 541 days—without there being any observable negative impact on health, transportation, or education. One has to imagine that if the situation were to endure for decades, it would make some sort of difference; but it’s not clear how much of one or whether the positive effects would outweigh the negative ones.10 Similarly, at time of writing, the Uber corporation, considered one of the world’s most dynamic, has seen the resignation not only of its founder, Travis Kalanick, but a host of other top executives, with the result that it “is currently operating without a CEO, chief operating officer, chief financial officer, or chief marketing officer”—all without any apparent effect on day-to-day operations.11 Similarly, there’s a reason why those who work in the financial sector, and who have extremely well-paid occupations more generally, almost never go on strike.


pages: 52 words: 14,333

Growth Hacker Marketing: A Primer on the Future of PR, Marketing, and Advertising by Ryan Holiday

Airbnb, iterative process, Kickstarter, Lean Startup, Marc Andreessen, market design, minimum viable product, Paul Graham, pets.com, post-work, Silicon Valley, slashdot, Steve Wozniak, Travis Kalanick

If they are geeks, they are at TechCrunch or Hacker News or Reddit or attending a handful of conferences every year. If they are fashionistas, they are regularly checking a handful of fashion blogs like Lookbook.nu or Hypebeast. If they are _______________, like you and your founders are, they are reading and doing the same things you do every day. Catch their attention and pull them in. It’s as simple as that. Uber, a car service start-up founded by Travis Kalanick and Garrett Camp, has been giving out free rides during Austin’s SXSW Conference for several years. During a single week, thousands of potential Uber customers—tech-obsessed, high-income young adults who cannot find a cab—are motivated to try out this service. One year Uber offered free rides. Another year, it offered BBQ delivery. Instead of spending millions on advertising or countless resources trying to reach these potential users in their respective cities, Uber just waited for the one week a year when they were all in one place and did something special.


pages: 87 words: 25,823

The Politics of Bitcoin: Software as Right-Wing Extremism by David Golumbia

3D printing, A Declaration of the Independence of Cyberspace, Affordable Care Act / Obamacare, bitcoin, blockchain, Burning Man, crony capitalism, cryptocurrency, currency peg, distributed ledger, Elon Musk, en.wikipedia.org, Ethereum, ethereum blockchain, Extropian, fiat currency, Fractional reserve banking, George Gilder, jimmy wales, litecoin, Marc Andreessen, money: store of value / unit of account / medium of exchange, Mont Pelerin Society, new economy, obamacare, Peter Thiel, Philip Mirowski, risk tolerance, Ronald Reagan, Satoshi Nakamoto, seigniorage, Silicon Valley, Singularitarianism, smart contracts, Stewart Brand, technoutopianism, The Chicago School, Travis Kalanick, WikiLeaks

But the analysis of cyberlibertarianism is getting at something subtler: the way that a set of slogans and beliefs associated with the spread of digital technology incorporate critical parts of a right-wing worldview even as they manifest a surface rhetorical commitment to values that do not immediately appear to come from the right. Certainly, many leaders in the digital technology industries, and quite a few leaders who do not work for corporations, openly declare their adherence to libertarian or other right-wing ideologies. Just a brief list of these includes figures like Elon Musk, Peter Thiel, Eric Raymond, Jimmy Wales, Eric Schmidt, and Travis Kalanick. Furthermore, the number of leaders who demur from such political points of view is small, and their demurrals are often shallow. But the group of people whose beliefs deserve to be labeled “cyberlibertarian” is much larger than this. The core tenet of cyberlibertarianism—the insistence that “governments should not regulate the internet”—appears to be compatible with a wide range of political viewpoints.


pages: 389 words: 87,758

No Ordinary Disruption: The Four Global Forces Breaking All the Trends by Richard Dobbs, James Manyika

2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, access to a mobile phone, additive manufacturing, Airbnb, Amazon Mechanical Turk, American Society of Civil Engineers: Report Card, autonomous vehicles, Bakken shale, barriers to entry, business cycle, business intelligence, Carmen Reinhart, central bank independence, cloud computing, corporate governance, creative destruction, crowdsourcing, demographic dividend, deskilling, disintermediation, disruptive innovation, distributed generation, Erik Brynjolfsson, financial innovation, first square of the chessboard, first square of the chessboard / second half of the chessboard, Gini coefficient, global supply chain, global village, hydraulic fracturing, illegal immigration, income inequality, index fund, industrial robot, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, inventory management, job automation, Just-in-time delivery, Kenneth Rogoff, Kickstarter, knowledge worker, labor-force participation, low skilled workers, Lyft, M-Pesa, mass immigration, megacity, mobile money, Mohammed Bouazizi, Network effects, new economy, New Urbanism, oil shale / tar sands, oil shock, old age dependency ratio, openstreetmap, peer-to-peer lending, pension reform, private sector deleveraging, purchasing power parity, quantitative easing, recommendation engine, Report Card for America’s Infrastructure, RFID, ride hailing / ride sharing, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Silicon Valley startup, Skype, smart cities, Snapchat, sovereign wealth fund, spinning jenny, stem cell, Steve Jobs, supply-chain management, TaskRabbit, The Great Moderation, trade route, transaction costs, Travis Kalanick, uber lyft, urban sprawl, Watson beat the top human players on Jeopardy!, working-age population, Zipcar

“Hailo arrives in Cork” (press release), July 1, 2013, https://hailocab.com/ireland/press-releases/hailo-cork-release. 8. www.uber.com/cities. 9. Evelyn M. Rusli and Douglas MacMillan, “Uber gets an uber-valuation,” Wall Street Journal, June 6, 2014, http://online.wsj.com/articles/uber-gets-uber-valuation-of-18-2-billion-1402073876. 10. Ian Silvera, “Uber CEO Travis Kalanick: We will have 42,000 London drivers in 2016,” International Business Times, October 2014, http://www.ibtimes.co.uk/uber-ceo-travis-kalanick-we-will-have-42000-london-drivers-2016-1468436. 11. “Angry London cabbies attack Hailo taxi app office,” BBC.com, May 22, 2014, www.bbc.co.uk/news/technology-27517914. 12. Rhiannon Williams, “Uber adds black cabs amid claims taxi strike ‘could cost lives,’” Telegraph (London), June 11, 2014, www.telegraph.co.uk/technology/news/10891442/Uber-adds-black-cabs-amid-claims-taxi-strike-could-cost-lives.html. 13. “2,500,000 BCE to 8,000 BCE timeline,” Jeremy Norman’s HistoryofInformation.com, www.historyofinformation.com/expanded.php?


Alpha Girls: The Women Upstarts Who Took on Silicon Valley's Male Culture and Made the Deals of a Lifetime by Julian Guthrie

Airbnb, Apple II, barriers to entry, blockchain, Bob Noyce, call centre, cloud computing, credit crunch, disruptive innovation, Elon Musk, equal pay for equal work, fear of failure, game design, glass ceiling, hiring and firing, Jeff Bezos, Louis Pasteur, Lyft, Mark Zuckerberg, Menlo Park, Mitch Kapor, new economy, PageRank, peer-to-peer, pets.com, phenotype, place-making, Ronald Reagan, Rosa Parks, Sand Hill Road, Silicon Valley, Silicon Valley startup, Skype, Snapchat, software as a service, South of Market, San Francisco, stealth mode startup, Steve Jobs, Steve Wozniak, TaskRabbit, Tim Cook: Apple, Travis Kalanick, uber lyft, unpaid internship, upwardly mobile, urban decay, web application, William Shockley: the traitorous eight, women in the workforce

Women, outnumbered and overmatched, were mostly reduced to entertainers, companions, wives, or housekeepers. Things were not that different in the more recent gold rush. The Valley was always a region dominated by men, from William Hewlett, Dave Packard, Bob Noyce, Gordon Moore, Andy Grove, Larry Ellison, Steve Jobs, and Steve Wozniak to, decades later, in the twenty-first century, Larry Page, Sergey Brin, Mark Zuckerberg, Elon Musk, Tim Cook, Travis Kalanick, and Marc Benioff. Mary Jane, fueled by peanut butter sandwiches packed in wax paper for the two-day journey, was under no illusion that it would be easy to navigate the old boys’ club of Sand Hill Road and Silicon Valley. Even today, decades after Mary Jane first arrived, 94 percent of investing partners at venture capital firms—the financial decision makers shaping the future—are men, and more than 80 percent of venture firms have never had a woman investing partner.

She lost the case but became an activist for equality. Now a flurry of stories, allegations, and lawsuits filled the news and was spreading from industry to industry. Female entrepreneurs in Silicon Valley were coming forward to say they had been afraid until now to report the misconduct of certain venture capitalists. Susan Fowler, an engineer at Uber, accused her company of fostering a toxic culture of sexism. Uber CEO Travis Kalanick had quipped to a reporter in an interview years earlier that he should call the company “boober” for all the women he gets “on demand.” New allegations of abuse and bad behavior seemed to make headlines every day. Everyone at the Broadway Angels table knew someone who was accused of misconduct or worse. Shervin Pishevar, the Menlo partner and Uber investor who had moved into Sonja’s old office, was being accused of sexual harassment and assault by a handful of women.


pages: 139 words: 33,246

Money Moments: Simple Steps to Financial Well-Being by Jason Butler

Albert Einstein, asset allocation, buy and hold, Cass Sunstein, diversified portfolio, estate planning, financial independence, fixed income, happiness index / gross national happiness, index fund, intangible asset, longitudinal study, loss aversion, Lyft, Mark Zuckerberg, mortgage debt, passive income, placebo effect, Richard Thaler, ride hailing / ride sharing, Steve Jobs, time value of money, traffic fines, Travis Kalanick, Uber and Lyft, uber lyft, Vanguard fund, Yogi Berra

The advent of ride hailing apps like Uber and Lyft, and the eventual availability of autonomous electric cars, together with wider adoption of car-sharing and better public transport, as well as rising vehicle running costs, are combining to undermine car ownership among younger people in urban areas. ‘Our intention is to make Uber so efficient, cars so highly utilized, that for most people it is cheaper than owning a car.’ said Uber’s then CEO Travis Kalanick in 2015. Interestingly the majority of UK automotive executives expect that more than half of today’s car owners will not want to own a car in less than a decade.25 While car ownership may always be relevant for families and those living in more remote rural places, it looks like young single urban dwellers will increasingly turn to alternative mobility as a service (MaaS) model. But if you do want or need to own a car, there is a better way to do so then taking out expensive and inflexible car finance.


pages: 196 words: 54,339

Team Human by Douglas Rushkoff

1960s counterculture, autonomous vehicles, basic income, Berlin Wall, big-box store, bitcoin, blockchain, Burning Man, carbon footprint, clean water, clockwork universe, cloud computing, collective bargaining, corporate personhood, disintermediation, Donald Trump, drone strike, European colonialism, Filter Bubble, full employment, future of work, game design, gig economy, Google bus, Gödel, Escher, Bach, Internet of things, invention of the printing press, invention of writing, invisible hand, iterative process, Kevin Kelly, knowledge economy, life extension, lifelogging, Mark Zuckerberg, Marshall McLuhan, means of production, new economy, patient HM, pattern recognition, peer-to-peer, Peter Thiel, Ray Kurzweil, recommendation engine, ride hailing / ride sharing, Ronald Reagan, Ronald Reagan: Tear down this wall, shareholder value, sharing economy, Silicon Valley, social intelligence, sovereign wealth fund, Steve Jobs, Steven Pinker, Stewart Brand, technoutopianism, theory of mind, trade route, Travis Kalanick, Turing test, universal basic income, Vannevar Bush, winner-take-all economy, zero-sum game

The Soviets’ launch of the Sputnik satellite in the 1960s led America to begin offering advanced math in high school Alvin Powell, “How Sputnik Changed U.S. Education,” Harvard Gazette, October 11, 2007. 27. For these reasons, many of the most ambitious engineers, developers, and entrepreneurs end up dropping out of college altogether Bill Gates, Steve Jobs, Mark Zuckerberg, Evan Williams, Travis Kalanick, Larry Ellison, Michael Dell, John Mackey, Jan Koum, to name only a few. 28. Consider Thomas Jefferson’s famous invention, the dumbwaiter Silvio A. Bedini, Thomas Jefferson: Statesman of Science (Basing­stoke: Palgrave–MacMillan, 1990). Even today, Chinese laborers “finish” smartphones by wiping off any fingerprints Victoria Turk, “China’s Workers Need Help to Fight Factories’ Toxic Practices,” New Scientist, March 22, 2017. 29.


pages: 237 words: 67,154

Ours to Hack and to Own: The Rise of Platform Cooperativism, a New Vision for the Future of Work and a Fairer Internet by Trebor Scholz, Nathan Schneider

1960s counterculture, activist fund / activist shareholder / activist investor, Airbnb, Amazon Mechanical Turk, barriers to entry, basic income, bitcoin, blockchain, Build a better mousetrap, Burning Man, capital controls, citizen journalism, collaborative economy, collaborative editing, collective bargaining, commoditize, conceptual framework, crowdsourcing, cryptocurrency, Debian, deskilling, disintermediation, distributed ledger, Ethereum, ethereum blockchain, future of work, gig economy, Google bus, hiring and firing, income inequality, information asymmetry, Internet of things, Jacob Appelbaum, Jeff Bezos, job automation, Julian Assange, Kickstarter, lake wobegon effect, low skilled workers, Lyft, Mark Zuckerberg, means of production, minimum viable product, moral hazard, Network effects, new economy, offshore financial centre, openstreetmap, peer-to-peer, post-work, profit maximization, race to the bottom, ride hailing / ride sharing, SETI@home, shareholder value, sharing economy, Shoshana Zuboff, Silicon Valley, smart cities, smart contracts, Snapchat, TaskRabbit, technoutopianism, transaction costs, Travis Kalanick, Uber for X, uber lyft, union organizing, universal basic income, Whole Earth Catalog, WikiLeaks, women in the workforce, Zipcar

In Average Is Over, the economist Tyler Cowen foresees a future in which a tiny “hyper meritocracy” would make millions while the rest of us struggle to survive on anywhere between $5,000 and $10,000 a year. It already works quite well in Mexico, Cowen quips. Carl B. Frey and Michael A. Osborne predict that 47 percent of all jobs are at risk of being automated over the next twenty years. And I have no doubt about the vision of platform owners like Travis Kalanick (Uber), Jeff Bezos (Amazon), or Lukas Biewald (CrowdFlower)—who, in the absence of government regulation and resistance from workers, will simply exploit their undervalued workers. I’m all on board for Paul Mason’s and Kathi Weeks’ visions for a post-capitalist, post-work future where universal basic income will rule the way we think about life opportunities. In the United States, however, unlike in Finland, the chances for this scenario becoming a reality over the next two years are not high.


pages: 222 words: 70,132

Move Fast and Break Things: How Facebook, Google, and Amazon Cornered Culture and Undermined Democracy by Jonathan Taplin

1960s counterculture, affirmative action, Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, American Legislative Exchange Council, Apple's 1984 Super Bowl advert, back-to-the-land, barriers to entry, basic income, battle of ideas, big data - Walmart - Pop Tarts, bitcoin, Brewster Kahle, Buckminster Fuller, Burning Man, Clayton Christensen, commoditize, creative destruction, crony capitalism, crowdsourcing, data is the new oil, David Brooks, David Graeber, don't be evil, Donald Trump, Douglas Engelbart, Douglas Engelbart, Dynabook, Edward Snowden, Elon Musk, equal pay for equal work, Erik Brynjolfsson, future of journalism, future of work, George Akerlof, George Gilder, Google bus, Hacker Ethic, Howard Rheingold, income inequality, informal economy, information asymmetry, information retrieval, Internet Archive, Internet of things, invisible hand, Jaron Lanier, Jeff Bezos, job automation, John Markoff, John Maynard Keynes: technological unemployment, John von Neumann, Joseph Schumpeter, Kevin Kelly, Kickstarter, labor-force participation, life extension, Marc Andreessen, Mark Zuckerberg, Menlo Park, Metcalfe’s law, Mother of all demos, move fast and break things, move fast and break things, natural language processing, Network effects, new economy, Norbert Wiener, offshore financial centre, packet switching, Paul Graham, paypal mafia, Peter Thiel, plutocrats, Plutocrats, pre–internet, Ray Kurzweil, recommendation engine, rent-seeking, revision control, Robert Bork, Robert Gordon, Robert Metcalfe, Ronald Reagan, Ross Ulbricht, Sam Altman, Sand Hill Road, secular stagnation, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, smart grid, Snapchat, software is eating the world, Steve Jobs, Stewart Brand, technoutopianism, The Chicago School, The Market for Lemons, The Rise and Fall of American Growth, Tim Cook: Apple, trade route, transfer pricing, Travis Kalanick, trickle-down economics, Tyler Cowen: Great Stagnation, universal basic income, unpaid internship, We wanted flying cars, instead we got 140 characters, web application, Whole Earth Catalog, winner-take-all economy, women in the workforce, Y Combinator

Ultimately Rand had an almost Nietzschean will-to-power philosophy, which she handed down to followers such as Thiel. It plays out perfectly in these lines from The Fountainhead: “Do you mean to tell me that you’re thinking seriously of building that way, when and if you are an architect?” “Yes.” “My dear fellow, who will let you?” “That’s not the point. The point is, who will stop me?” “Who will stop me.” This became the central tenet of Internet disrupters, from Thiel’s PayPal right up to Travis Kalanick’s Uber. 3. The ideas of Ayn Rand have not only inspired men like Thiel, they have also found a home in the highest political offices in the country. Paul Ryan, the Speaker of the House, told the Weekly Standard, “I give out Atlas Shrugged as Christmas presents, and I make all my interns read it.” In a video series, Ryan said, “Ayn Rand, more than anyone else, did a fantastic job of explaining the morality of capitalism, the morality of individualism, and this, to me, is what matters most.”


pages: 252 words: 79,452

To Be a Machine: Adventures Among Cyborgs, Utopians, Hackers, and the Futurists Solving the Modest Problem of Death by Mark O'Connell

3D printing, Ada Lovelace, AI winter, Airbnb, Albert Einstein, artificial general intelligence, brain emulation, clean water, cognitive dissonance, computer age, cosmological principle, dark matter, disruptive innovation, double helix, Edward Snowden, effective altruism, Elon Musk, Extropian, friendly AI, global pandemic, impulse control, income inequality, invention of the wheel, Jacques de Vaucanson, John von Neumann, knowledge economy, Law of Accelerating Returns, life extension, lifelogging, Lyft, Mars Rover, means of production, Norbert Wiener, Peter Thiel, profit motive, Ray Kurzweil, RFID, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Singularitarianism, Skype, Stephen Hawking, Steve Wozniak, superintelligent machines, technological singularity, technoutopianism, The Coming Technological Singularity, Travis Kalanick, trickle-down economics, Turing machine, uber lyft, Vernor Vinge

But when the race was held again the following year, five cars finished the route, and the winning team went on to form the nucleus of Google’s Self-Driving Car Project, under the auspices of which, even now, California’s roads were being successfully navigated by vehicles unguided by human hands, luxury ghostmobiles on the decaying highways, an advance guard of an automated future. Uber, the drive-sharing service that had seriously damaged the taxi sector in recent years, was already speaking openly about its plans to replace all of its drivers with automated cars as soon as the technology allowed. At a conference in 2014, the company’s preeminently obnoxious CEO Travis Kalanick had explained that “the reason Uber could be expensive is because you’re not just paying for the car, you’re paying for the other dude in the car. When there’s no other dude in the car, the cost of taking an Uber anywhere becomes cheaper than owning a vehicle.” When asked how he might explain to these other dudes the reality of their obsolescence, their versioning out, he said this: “Look, this is the way of the world, and the world isn’t always great.


pages: 245 words: 72,893

How Democracy Ends by David Runciman

barriers to entry, basic income, Bernie Sanders, bitcoin, blockchain, Capital in the Twenty-First Century by Thomas Piketty, centre right, crowdsourcing, cuban missile crisis, Dominic Cummings, Donald Trump, Edward Snowden, first-past-the-post, Francis Fukuyama: the end of history, full employment, Internet of things, Joseph Schumpeter, Kickstarter, loss aversion, Mahatma Gandhi, Mark Zuckerberg, money: store of value / unit of account / medium of exchange, mutually assured destruction, Network effects, Norman Mailer, Panopticon Jeremy Bentham, Peter Thiel, quantitative easing, self-driving car, Silicon Valley, Steven Pinker, The Wisdom of Crowds, Travis Kalanick, universal basic income, Yogi Berra

In practice, these rules are not neutral because they currently reflect the interests of the giant technology companies and of the states that are trying to regulate them. But in theory they could be neutral. The internet certainly has room for multiple different visions of the good life to co-exist. Nozick’s list would need to be updated for the twenty-first century (here’s mine, though really it could be anyone’s): ‘Rihanna, Ai Weiwei, Margaret Atwood, Travis Kalanick, Maria Sharapova, PSY, Janet Yellen, Russell Brand, Larry David, J. K. Rowling, Pope Francis, Lena Dunham, Mohammed al-Zawahiri, Kid Rock, etc., etc.’ In fact, what’s most dated about Nozick’s litany of names (apart from the fact that they are almost all men) is the assumption that someone needs to be famous to have a vision of the good life we can recognise. In the 1970s there was little opportunity for anybody without name recognition to project their views about how they wished to live: only the lucky few could find an audience.


pages: 302 words: 73,946

People Powered: How Communities Can Supercharge Your Business, Brand, and Teams by Jono Bacon

Airbnb, barriers to entry, blockchain, bounce rate, Cass Sunstein, Charles Lindbergh, Debian, Firefox, if you build it, they will come, IKEA effect, Internet Archive, Jono Bacon, Kickstarter, Kubernetes, lateral thinking, Mark Shuttleworth, Minecraft, minimum viable product, more computing power than Apollo, planetary scale, pull request, Richard Stallman, Richard Thaler, sexual politics, Silicon Valley, Travis Kalanick, Y Combinator

Lizette Chapman and Eric Newcomer, “Software Maker Docker Is Raising Funding at $1.3 Billion Valuation,” Bloomberg, August 9, 2017, https://www.bloomberg.com/news/articles/2017-08-09/docker-is-said-to-be-raising-funding-at-1-3-billion-valuation. 17. Johana Bhuiyan, “Drivers Don’t Trust Uber. This Is How It’s Trying to Win Them Back,” Recode, February 5, 2018, https://www.recode.net/2018/2/5/16777536/uber-travis-kalanick-recruit-drivers-tipping; Chris Matyszczyk “United Airlines Was Just Ranked Lower Than America’s Most Controversial Airline in Customer Satisfaction,” Inc., May 30, 2018, https://www.inc.com/chris-matyszczyk/united-airlines-was-just-ranked-lower-than-americas-most-controversial-airline-in-customer-satisfaction.html; Tom Chandler, “The Death of MySpace,” Young Academic, March 31, 2011, https://www.youngacademic.co.uk/features/the-death-of-myspace-young-academic-columns-953; Charles Arthur, “Digg Loses a Third of Its Visitors in a Month: Is It Dead?


pages: 286 words: 87,401

Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies by Reid Hoffman, Chris Yeh

activist fund / activist shareholder / activist investor, Airbnb, Amazon Web Services, autonomous vehicles, bitcoin, blockchain, Bob Noyce, business intelligence, Chuck Templeton: OpenTable:, cloud computing, crowdsourcing, cryptocurrency, Daniel Kahneman / Amos Tversky, database schema, discounted cash flows, Elon Musk, Firefox, forensic accounting, George Gilder, global pandemic, Google Hangouts, Google X / Alphabet X, hydraulic fracturing, Hyperloop, inventory management, Isaac Newton, Jeff Bezos, Joi Ito, Khan Academy, late fees, Lean Startup, Lyft, M-Pesa, Marc Andreessen, margin call, Mark Zuckerberg, minimum viable product, move fast and break things, move fast and break things, Network effects, Oculus Rift, oil shale / tar sands, Paul Buchheit, Paul Graham, Peter Thiel, pre–internet, recommendation engine, ride hailing / ride sharing, Sam Altman, Sand Hill Road, Saturday Night Live, self-driving car, shareholder value, sharing economy, Silicon Valley, Silicon Valley startup, Skype, smart grid, social graph, software as a service, software is eating the world, speech recognition, stem cell, Steve Jobs, subscription business, Tesla Model S, thinkpad, transaction costs, transport as a service, Travis Kalanick, Uber for X, uber lyft, web application, winner-take-all economy, Y Combinator, yellow journalism

When you have strong individual captains and an admiral who can’t or won’t build a staff to help him or her actually manage the fleet, you end up with a pirate mob. The failure to build a unified executive team is sadly common. Some entrepreneurs find it difficult to accept the increased structure and decreased freedom of a formal staff; many of these people started companies precisely because they disliked the feeling of working in a large organization. In his book on Uber, Wild Ride, the journalist Adam Lashinsky describes how Uber’s Travis Kalanick viewed his role at the helm of his giant company: “The way I do it, it doesn’t feel big,” [Kalanick] says, falling back on a favorite trope: that he approaches his day as a series of problems to be solved….“I would say you constantly want to make your company feel small,” he says. “You need to create mechanisms and cultural values so that you feel as small as possible. That’s how you stay innovative and fast.


pages: 292 words: 85,151

Exponential Organizations: Why New Organizations Are Ten Times Better, Faster, and Cheaper Than Yours (And What to Do About It) by Salim Ismail, Yuri van Geest

23andMe, 3D printing, Airbnb, Amazon Mechanical Turk, Amazon Web Services, augmented reality, autonomous vehicles, Baxter: Rethink Robotics, Ben Horowitz, bioinformatics, bitcoin, Black Swan, blockchain, Burning Man, business intelligence, business process, call centre, chief data officer, Chris Wanstrath, Clayton Christensen, clean water, cloud computing, cognitive bias, collaborative consumption, collaborative economy, commoditize, corporate social responsibility, cross-subsidies, crowdsourcing, cryptocurrency, dark matter, Dean Kamen, dematerialisation, discounted cash flows, disruptive innovation, distributed ledger, Edward Snowden, Elon Musk, en.wikipedia.org, Ethereum, ethereum blockchain, game design, Google Glasses, Google Hangouts, Google X / Alphabet X, gravity well, hiring and firing, Hyperloop, industrial robot, Innovator's Dilemma, intangible asset, Internet of things, Iridium satellite, Isaac Newton, Jeff Bezos, Joi Ito, Kevin Kelly, Kickstarter, knowledge worker, Kodak vs Instagram, Law of Accelerating Returns, Lean Startup, life extension, lifelogging, loose coupling, loss aversion, low earth orbit, Lyft, Marc Andreessen, Mark Zuckerberg, market design, means of production, minimum viable product, natural language processing, Netflix Prize, NetJets, Network effects, new economy, Oculus Rift, offshore financial centre, PageRank, pattern recognition, Paul Graham, paypal mafia, peer-to-peer, peer-to-peer model, Peter H. Diamandis: Planetary Resources, Peter Thiel, prediction markets, profit motive, publish or perish, Ray Kurzweil, recommendation engine, RFID, ride hailing / ride sharing, risk tolerance, Ronald Coase, Second Machine Age, self-driving car, sharing economy, Silicon Valley, skunkworks, Skype, smart contracts, Snapchat, social software, software is eating the world, speech recognition, stealth mode startup, Stephen Hawking, Steve Jobs, subscription business, supply-chain management, TaskRabbit, telepresence, telepresence robot, Tony Hsieh, transaction costs, Travis Kalanick, Tyler Cowen: Great Stagnation, uber lyft, urban planning, WikiLeaks, winner-take-all economy, X Prize, Y Combinator, zero-sum game

Even as a child, Elon Musk, perhaps the world’s most celebrated entrepreneur today, had a burning desire to address energy, transportation and space travel at a global level. His three companies (SolarCity, Tesla and SpaceX) are each addressing those spaces. Each has a Massive Transformative Purpose. Keep in mind, however, that an MTP is not a business decision. Finding your passion is a personal journey. As Travis Kalanick, CEO of Uber, said at the 2013 LeWeb conference in Paris, “You have to be self-aware and look for that startup idea and purpose that is a perfect fit with you—with you as a person, not as a business[person].” Howard Thurman, the American author and philosopher, summarizes the same idea as follows: “Don’t just ask what the world needs. Ask what makes you come alive and go do it. What the world needs is people who have come alive.”


pages: 305 words: 79,303

The Four: How Amazon, Apple, Facebook, and Google Divided and Conquered the World by Scott Galloway

activist fund / activist shareholder / activist investor, additive manufacturing, Affordable Care Act / Obamacare, Airbnb, Amazon Web Services, Apple II, autonomous vehicles, barriers to entry, Ben Horowitz, Bernie Sanders, big-box store, Bob Noyce, Brewster Kahle, business intelligence, California gold rush, cloud computing, commoditize, cuban missile crisis, David Brooks, disintermediation, don't be evil, Donald Trump, Elon Musk, follow your passion, future of journalism, future of work, global supply chain, Google Earth, Google Glasses, Google X / Alphabet X, Internet Archive, invisible hand, Jeff Bezos, Jony Ive, Khan Academy, longitudinal study, Lyft, Mark Zuckerberg, meta analysis, meta-analysis, Network effects, new economy, obamacare, Oculus Rift, offshore financial centre, passive income, Peter Thiel, profit motive, race to the bottom, RAND corporation, ride hailing / ride sharing, risk tolerance, Robert Mercer, Robert Shiller, Robert Shiller, Search for Extraterrestrial Intelligence, self-driving car, sentiment analysis, shareholder value, Silicon Valley, Snapchat, software is eating the world, speech recognition, Stephen Hawking, Steve Ballmer, Steve Jobs, Steve Wozniak, Stewart Brand, supercomputer in your pocket, Tesla Model S, Tim Cook: Apple, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, undersea cable, Whole Earth Catalog, winner-take-all economy, working poor, young professional

., 192, 268 intellectual property theft, 157–61, 166 iPhone and competition, 90 economic disruption of, 91 and irrational decision making, 178 as luxury brand, 75–76, 85 marketshare, 70, 81 price premium for, 83 product differentiation of, 187 reaction to, 66, 68, 69 Ive, Jony, 87 JCPenney, 136–37 Jet.com, 45–47, 221 job creation, 266, 268 Jobs, Steve and Apple II, 69, 132, 180 character of, 64, 68, 77 and consumers’ buying decisions, 179 death of, 68, 77, 78 and HP, 83–84 iconic founder status, 77–78, 260 innovator status, 67, 88 intellectual property theft, 161, 166 and luxury industry, 69, 73, 88–89 risk taking, 68 secular worship of, 66, 77, 78 Kalanick, Travis, 217, 218, 225 leadership stages in life cycles of firms, 253–57 Levi Strauss & Co., 80, 81, 194 Libet experiments, 123 likability of companies, 191–94 LinkedIn, 222–25, 223, 231 long/short tails, 257–59 Lore, Marc, 45–47, 221 love, 171–72, 177 loyalty to people, 247 luxury brands and artisanship, 78–79 and founders, 76–78 and global status, 82–83 and irrational decision making, 174–75, 178–79 and price premium of, 83–86 sex appeal of, 178–79 Tesla, 214 and vertical integration, 79–80 See also Apple Ma, Jack, 206, 210 Manhattan Project, 267 marketing funnel, 98, 98 Mayer, Marissa, 161–62, 192–93 media and publishers and advertising growth, 113 decline and deaths of, 162, 256–57 and Facebook, 115–16, 119–25 and fake news, 120–21, 122–23, 124, 125, 194 and Google’s use of content, 139–47, 148, 150, 151, 154, 161–62, 166, 192–93 loss of advertising base, 162 and mobile ad spend, 113–14 and threats to civilization, 125 trust in media, 132–33 Microsoft, 153, 155, 192, 205, 222–25, 229, 260 middle class, 43, 54, 90, 267 multichannel retail, 44–49 Musk, Elon, 210, 212, 213, 260 newspapers, 106, 162, 166, 192–93.


Driverless: Intelligent Cars and the Road Ahead by Hod Lipson, Melba Kurman

AI winter, Air France Flight 447, Amazon Mechanical Turk, autonomous vehicles, barriers to entry, butterfly effect, carbon footprint, Chris Urmson, cloud computing, computer vision, connected car, creative destruction, crowdsourcing, DARPA: Urban Challenge, digital map, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, Google Earth, Google X / Alphabet X, high net worth, hive mind, ImageNet competition, income inequality, industrial robot, intermodal, Internet of things, job automation, Joseph Schumpeter, lone genius, Lyft, megacity, Network effects, New Urbanism, Oculus Rift, pattern recognition, performance metric, precision agriculture, RFID, ride hailing / ride sharing, Second Machine Age, self-driving car, Silicon Valley, smart cities, speech recognition, statistical model, Steve Jobs, technoutopianism, Tesla Model S, Travis Kalanick, Uber and Lyft, uber lyft, Unsafe at Any Speed

Source: National Public Radio Truckers won’t be the only ones whose jobs are taken by driverless vehicles. Taxi drivers and chauffeurs will also find themselves out of work. The profession of taxi driving has already been disrupted by the growing popularity of services such as Uber and Lyft, where anybody with a car can become a cabby. Driverless cars will sound the final death knell to the jobs of roughly 233,700 cabbies and chauffeurs employed in the United States.5 Uber’s CEO, Travis Kalanick, believes that the biggest cost component of running a taxi service is paying the car’s driver. In a talk at a conference, Kalanick said, “When there’s no other dude in the car, the cost of taking an Uber anywhere becomes cheaper than owning a vehicle.”6 To develop a car that can drive without a “dude” behind the wheel, Uber has invested $5.5 million to develop driverless-car technology, hiring dozens of robotics researchers from Carnegie Mellon University’s National Robotics Engineering Center (NREC).7 Driverless cars will transform other jobs in the gigantic economic value chain that supports the buying, selling, and maintaining of the automobile.


pages: 307 words: 88,180

AI Superpowers: China, Silicon Valley, and the New World Order by Kai-Fu Lee

AI winter, Airbnb, Albert Einstein, algorithmic trading, artificial general intelligence, autonomous vehicles, barriers to entry, basic income, business cycle, cloud computing, commoditize, computer vision, corporate social responsibility, creative destruction, crony capitalism, Deng Xiaoping, deskilling, Donald Trump, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, full employment, future of work, gig economy, Google Chrome, happiness index / gross national happiness, if you build it, they will come, ImageNet competition, income inequality, informal economy, Internet of things, invention of the telegraph, Jeff Bezos, job automation, John Markoff, Kickstarter, knowledge worker, Lean Startup, low skilled workers, Lyft, mandatory minimum, Mark Zuckerberg, Menlo Park, minimum viable product, natural language processing, new economy, pattern recognition, pirate software, profit maximization, QR code, Ray Kurzweil, recommendation engine, ride hailing / ride sharing, risk tolerance, Robert Mercer, Rodney Brooks, Rubik’s Cube, Sam Altman, Second Machine Age, self-driving car, sentiment analysis, sharing economy, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, Skype, special economic zone, speech recognition, Stephen Hawking, Steve Jobs, strong AI, The Future of Employment, Travis Kalanick, Uber and Lyft, uber lyft, universal basic income, urban planning, Y Combinator

It was the domestic combatants who pushed each other to be faster, nimbler, leaner, and meaner. They aggressively copied each other’s product innovations, cut prices to the bone, launched smear campaigns, forcibly deinstalled competing software, and even reported rival CEOs to the police. For these gladiators, no dirty trick or underhanded maneuver was out of bounds. They deployed tactics that would make Uber founder Travis Kalanick blush. They also demonstrated a fanatical around-the-clock work ethic that would send Google employees running to their nap pods. Silicon Valley may have found the copying undignified and the tactics unsavory. In many cases, it was. But it was precisely this widespread cloning—the onslaught of thousands of mimicking competitors—that forced companies to innovate. Survival in the internet coliseum required relentlessly iterating products, controlling costs, executing flawlessly, generating positive PR, raising money at exaggerated valuations, and seeking ways to build a robust business “moat” to keep the copycats out.


pages: 344 words: 96,020

Hacking Growth: How Today's Fastest-Growing Companies Drive Breakout Success by Sean Ellis, Morgan Brown

Airbnb, Amazon Web Services, barriers to entry, Ben Horowitz, bounce rate, business intelligence, business process, correlation does not imply causation, crowdsourcing, DevOps, disruptive innovation, Elon Musk, game design, Google Glasses, Internet of things, inventory management, iterative process, Jeff Bezos, Khan Academy, Kickstarter, Lean Startup, Lyft, Mark Zuckerberg, market design, minimum viable product, Network effects, Paul Graham, Peter Thiel, Ponzi scheme, recommendation engine, ride hailing / ride sharing, side project, Silicon Valley, Silicon Valley startup, Skype, Snapchat, software as a service, Steve Jobs, subscription business, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, working poor, Y Combinator, young professional

For Yelp, that experience was the ability to discover promising local restaurants and businesses through trusted community reviews. For eBay, the aha moment was finding and winning one-of-a-kind items at auction from people all over the world. For Facebook, it was instantly seeing photos and updates from friends and family and sharing what you were up to. For Dropbox, it was the concept of easy file sharing and unlimited file storage. Or take Uber’s aha moment, which Uber cofounder and CEO Travis Kalanick explained as, “You push a button and a black car comes up. Who’s the baller? It was a baller move to get a black car to arrive in 8 minutes.”11 An aha experience is a necessary ingredient of sustainable growth because it is one that is simply too remarkable not to value, to return to often, and to share. Thus the key to knowing when it’s time to start the high-tempo push for growth is simple: Can you identify an aha moment that users love?


pages: 385 words: 111,113

Augmented: Life in the Smart Lane by Brett King

23andMe, 3D printing, additive manufacturing, Affordable Care Act / Obamacare, agricultural Revolution, Airbnb, Albert Einstein, Amazon Web Services, Any sufficiently advanced technology is indistinguishable from magic, Apple II, artificial general intelligence, asset allocation, augmented reality, autonomous vehicles, barriers to entry, bitcoin, blockchain, business intelligence, business process, call centre, chief data officer, Chris Urmson, Clayton Christensen, clean water, congestion charging, crowdsourcing, cryptocurrency, deskilling, different worldview, disruptive innovation, distributed generation, distributed ledger, double helix, drone strike, Elon Musk, Erik Brynjolfsson, Fellow of the Royal Society, fiat currency, financial exclusion, Flash crash, Flynn Effect, future of work, gig economy, Google Glasses, Google X / Alphabet X, Hans Lippershey, Hyperloop, income inequality, industrial robot, information asymmetry, Internet of things, invention of movable type, invention of the printing press, invention of the telephone, invention of the wheel, James Dyson, Jeff Bezos, job automation, job-hopping, John Markoff, John von Neumann, Kevin Kelly, Kickstarter, Kodak vs Instagram, Leonard Kleinrock, lifelogging, low earth orbit, low skilled workers, Lyft, M-Pesa, Mark Zuckerberg, Marshall McLuhan, megacity, Metcalfe’s law, Minecraft, mobile money, money market fund, more computing power than Apollo, Network effects, new economy, obamacare, Occupy movement, Oculus Rift, off grid, packet switching, pattern recognition, peer-to-peer, Ray Kurzweil, RFID, ride hailing / ride sharing, Robert Metcalfe, Satoshi Nakamoto, Second Machine Age, selective serotonin reuptake inhibitor (SSRI), self-driving car, sharing economy, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, Skype, smart cities, smart grid, smart transportation, Snapchat, social graph, software as a service, speech recognition, statistical model, stem cell, Stephen Hawking, Steve Jobs, Steve Wozniak, strong AI, TaskRabbit, technological singularity, telemarketer, telepresence, telepresence robot, Tesla Model S, The Future of Employment, Tim Cook: Apple, trade route, Travis Kalanick, Turing complete, Turing test, uber lyft, undersea cable, urban sprawl, V2 rocket, Watson beat the top human players on Jeopardy!, white picket fence, WikiLeaks

In doing so, they redesigned the way drivers were recruited, the way Uber’s vehicles were dispatched (no radio), the way a passenger orders a car, the way you pay for your journey and a bunch of other innovations. Uber even allows its drivers to get a car lease or open a bank account when they sign up. The total taxi market size in San Francisco prior to Uber was US$150 million annually. In early 2015, Uber CEO Travis Kalanick revealed it had ballooned to US$650 million, with Uber taking US$500 million in revenue.21 By building an experience, not just an app, Uber attracted a ton of new business that would never have gone to taxi companies. Uber didn’t build a better taxi, it didn’t iterate on the journey—it started from scratch across the entire experience. The effect on the traditional taxi companies? The San Francisco Examiner reported on 6th January 2016 that San Francisco’s Yellow Cab Co-Op had filed for bankruptcy.


pages: 359 words: 110,488

Bad Blood: Secrets and Lies in a Silicon Valley Startup by John Carreyrou

Affordable Care Act / Obamacare, bioinformatics, corporate governance, Donald Trump, El Camino Real, Elon Musk, Google Chrome, John Markoff, Jony Ive, Kickstarter, Marc Andreessen, Mark Zuckerberg, Mars Rover, medical malpractice, Menlo Park, obamacare, Ponzi scheme, ride hailing / ride sharing, Right to Buy, Sand Hill Road, side project, Silicon Valley, Silicon Valley startup, stealth mode startup, Steve Jobs, supply-chain management, Travis Kalanick, ubercab

Despite their moniker, these tech unicorns were no myth: by Lee’s count, there were thirty-nine of them—a number that would soon soar past one hundred. Instead of rushing to the stock market like their dot-com predecessors had in the late 1990s, the unicorns were able to raise staggering amounts of money privately and thus avoid the close scrutiny that came with going public. The poster child of the unicorns was Uber, the ride-hailing smartphone app cofounded by the hard-charging engineer Travis Kalanick. A few weeks before Elizabeth’s Journal interview, Uber had raised $361 million at a valuation of $3.5 billion. There was also Spotify, the music streaming service that in November 2013 raised $250 million at a price per share that valued the whole company at $4 billion. These companies’ valuations would keep rising over the next few years, but for now they had been leapfrogged by Theranos.


pages: 349 words: 109,304

American Kingpin: The Epic Hunt for the Criminal Mastermind Behind the Silk Road by Nick Bilton

bitcoin, blockchain, crack epidemic, Edward Snowden, mandatory minimum, Marc Andreessen, Mark Zuckerberg, Ross Ulbricht, Rubik’s Cube, Satoshi Nakamoto, side project, Silicon Valley, Skype, South of Market, San Francisco, Steve Jobs, Ted Kaczynski, the market place, trade route, Travis Kalanick, white picket fence, WikiLeaks

When Facebook introduced the “timeline,” its few-million-strong user base grew enraged at the privacy violations that came with involuntarily sharing everything you did with others. But Mark Zuckerberg had no choice; he needed to grow his revenue, and this was the path forward. Uber went through it when the company defiantly refused to eliminate its “surge pricing” model, which would make customers’ car rides double, triple, and in some instances even octuple without much warning. But Travis Kalanick had no choice; he needed to grow his revenue. Every tech company has faced these challenges: Twitter, Google, Apple, Yahoo! All seemingly screwing over their customers for their own gain. People don’t realize that these are simply some of the tough decisions a CEO must make in order to survive. So if Ross wanted to continue to grow the Silk Road, he had to make these kinds of grueling decisions too.


pages: 419 words: 109,241

A World Without Work: Technology, Automation, and How We Should Respond by Daniel Susskind

3D printing, agricultural Revolution, AI winter, Airbnb, Albert Einstein, algorithmic trading, artificial general intelligence, autonomous vehicles, basic income, Bertrand Russell: In Praise of Idleness, blue-collar work, British Empire, Capital in the Twenty-First Century by Thomas Piketty, cloud computing, computer age, computer vision, computerized trading, creative destruction, David Graeber, David Ricardo: comparative advantage, demographic transition, deskilling, disruptive innovation, Donald Trump, Douglas Hofstadter, drone strike, Edward Glaeser, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, financial innovation, future of work, gig economy, Gini coefficient, Google Glasses, Gödel, Escher, Bach, income inequality, income per capita, industrial robot, interchangeable parts, invisible hand, Isaac Newton, Jacques de Vaucanson, James Hargreaves, job automation, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, John von Neumann, Joi Ito, Joseph Schumpeter, Kenneth Arrow, Khan Academy, Kickstarter, low skilled workers, lump of labour, Marc Andreessen, Mark Zuckerberg, means of production, Metcalfe’s law, natural language processing, Network effects, Occupy movement, offshore financial centre, Paul Samuelson, Peter Thiel, pink-collar, precariat, purchasing power parity, Ray Kurzweil, ride hailing / ride sharing, road to serfdom, Robert Gordon, Sam Altman, Second Machine Age, self-driving car, shareholder value, sharing economy, Silicon Valley, Snapchat, social intelligence, software is eating the world, sovereign wealth fund, spinning jenny, Stephen Hawking, Steve Jobs, strong AI, telemarketer, The Future of Employment, The Rise and Fall of American Growth, the scientific method, The Wealth of Nations by Adam Smith, Thorstein Veblen, Travis Kalanick, Turing test, Tyler Cowen: Great Stagnation, universal basic income, upwardly mobile, Watson beat the top human players on Jeopardy!, We are the 99%, wealth creators, working poor, working-age population, Y Combinator

Just 16 percent of Americans think a four-year degree prepares students “very well” for a well-paying job.21 In part, this may have been prompted by the fact that many of today’s most successful entrepreneurs dropped out from these sorts of institutions. The list of nongraduates is striking: Sergey Brin and Larry Page left Stanford University; Elon Musk did likewise; Bill Gates and Mark Zuckerberg left Harvard University; Steve Jobs left Reed College; Michael Dell left the University of Texas; Travis Kalanick left the University of California; Evan Williams and Jack Dorsey left the University of Nebraska and New York University, respectively; Larry Ellison left both the University of Illinois and the University of Chicago; Arash Ferdowsi (cofounder of DropBox) left MIT; and Daniel Ek (cofounder of Spotify) left the Royal Institute of Technology.22 This list could go on. Though these entrepreneurs stepped away for various reasons, all shared the same trajectory afterward: out of education, and into the stratosphere of the labor market.


pages: 334 words: 102,899

That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea by Marc Randolph

Airbnb, crowdsourcing, high net worth, inventory management, Isaac Newton, Jeff Bezos, late fees, loose coupling, Mason jar, pets.com, recommendation engine, rolodex, Sand Hill Road, Silicon Valley, Silicon Valley startup, Snapchat, Steve Jobs, Travis Kalanick

conversation. Origin stories often hinge on epiphanies. The stories told to skeptical investors, wary board members, inquisitive reporters, and—eventually—the public usually highlight a specific moment: the moment it all became clear. Brian Chesky and Joe Gebbia can’t afford their San Francisco rent, then realize that they can blow up an air mattress and charge people to sleep on it—that’s Airbnb. Travis Kalanick spends $800 on a private driver on New Year’s Eve and thinks there has to be a cheaper way—that’s Uber. There’s a popular story about Netflix that says the idea came to Reed after he’d rung up a $40 late fee on Apollo 13 at Blockbuster. He thought, What if there were no late fees? And BOOM! The idea for Netflix was born. That story is beautiful. It’s useful. It is, as we say in marketing, emotionally true.


pages: 425 words: 112,220

The Messy Middle: Finding Your Way Through the Hardest and Most Crucial Part of Any Bold Venture by Scott Belsky

23andMe, 3D printing, Airbnb, Albert Einstein, Anne Wojcicki, augmented reality, autonomous vehicles, Ben Horowitz, bitcoin, blockchain, Chuck Templeton: OpenTable:, commoditize, correlation does not imply causation, cryptocurrency, delayed gratification, DevOps, Donald Trump, Elon Musk, endowment effect, hiring and firing, Inbox Zero, iterative process, Jeff Bezos, knowledge worker, Lean Startup, Lyft, Mark Zuckerberg, Marshall McLuhan, minimum viable product, move fast and break things, move fast and break things, NetJets, Network effects, new economy, old-boy network, pattern recognition, Paul Graham, ride hailing / ride sharing, Silicon Valley, slashdot, Snapchat, Steve Jobs, subscription business, TaskRabbit, the medium is the message, Travis Kalanick, Uber for X, uber lyft, Y Combinator, young professional

“Culture is not something”: Ben Thompson, “The Curse of Culture,” Stratechery, May 24, 2016, https://stratechery.com/2016/the-curse-of-culture. STRUCTURE AND COMMUNICATION MERCHANDISE TO CAPTURE AND KEEP YOUR TEAM’S ATTENTION. “Year of the Driver”: Johana Bhuiyan, “Drivers Don’t Trust Uber. This Is How It’s Trying to Win Them Back,” Recode, February 5, 2018, www.recode.net/2018/2/5/16777536/uber-travis-kalanick-recruit-drivers-tipping. “Of all the things that can”: Teresa Amabile and Steven J. Kramer, “The Power of Small Wins,” Harvard Business Review, May 2011, https://hbr.org/2011/05/the-power-of-small-wins. A MOCK-UP > ANY OTHER METHOD OF SHARING YOUR VISION “When evaluating a product”: Peep Laja, “8 Things That Grab and Hold Website Visitor’s Attention,” Conversation XL, May 8, 2017, https://conversionxl.com/blog/how-to-grab-and-hold-attention.


pages: 386 words: 113,709

Why We Drive: Toward a Philosophy of the Open Road by Matthew B. Crawford

1960s counterculture, Airbus A320, airport security, augmented reality, autonomous vehicles, Bernie Sanders, Boeing 737 MAX, British Empire, Burning Man, call centre, collective bargaining, crony capitalism, deskilling, digital map, don't be evil, Donald Trump, Elon Musk, en.wikipedia.org, Fellow of the Royal Society, gig economy, Google Earth, hive mind, income inequality, informal economy, Internet of things, Jane Jacobs, labour mobility, Lyft, Network effects, New Journalism, New Urbanism, Nicholas Carr, Ponzi scheme, Ralph Nader, ride hailing / ride sharing, Ronald Reagan, Sam Peltzman, security theater, self-driving car, sharing economy, Shoshana Zuboff, Silicon Valley, smart cities, social graph, social intelligence, Stephen Hawking, technoutopianism, the built environment, The Death and Life of Great American Cities, the High Line, too big to fail, traffic fines, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, Unsafe at Any Speed, urban planning, Wall-E, Works Progress Administration

Crawford, for chasing down the lowland bicycle thieves in an excellent episode of vigilante justice, conducted in style from behind the wheel of a Ford Fairlane convertible with his freak flag flying in the wind. Thanks to the taxi drivers of London, for their erudition and gentlemanliness. To whoever laid out Route 9 through the Santa Cruz mountains. To my daughters, G and J, for insisting that I take the twisty road on the way home from their preschool, squealing “go faster!” Notes INTRODUCTION: DRIVING AS A HUMANISM 1.Uber’s then chief executive Travis Kalanick was named to the president’s Strategic and Policy Forum, and Trump selected Elaine Chao for transportation secretary. The driverless car industry is “salivating over Elaine Chao’s light touch when it comes to regulations and her vocal support for the ride-sharing economy,” according to the Hill. Paul Brubaker, a spokesperson for the industry, said, “She has a keen understanding that technology presents a great opportunity to . . . create new mobility paradigms.”


Innovation and Its Enemies by Calestous Juma

3D printing, additive manufacturing, agricultural Revolution, Asilomar, Asilomar Conference on Recombinant DNA, autonomous vehicles, big-box store, business cycle, Cass Sunstein, clean water, collective bargaining, colonial rule, computer age, creative destruction, Daniel Kahneman / Amos Tversky, deskilling, disruptive innovation, energy transition, Erik Brynjolfsson, financial innovation, global value chain, Honoré de Balzac, illegal immigration, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invention of movable type, invention of the printing press, Joseph Schumpeter, knowledge economy, loss aversion, Marc Andreessen, means of production, Menlo Park, mobile money, New Urbanism, Nicholas Carr, pensions crisis, phenotype, Ray Kurzweil, refrigerator car, Second Machine Age, self-driving car, smart grid, smart meter, stem cell, Steve Jobs, technological singularity, The Future of Employment, Thomas Kuhn: the structure of scientific revolutions, Travis Kalanick

Brian Arthur, Andrew Barnett, Martin Bauer, John Beddington, Sujata Bhatia, Rosina Bierbaum, Johan Bodegård, John Boright, Brantley Browning, Thomas Burke, Gordon Conway, Paul David, Mateja Dermastia, Elizabeth Dowdeswell, Nina Fedoroff, Deborah Fitzgerald, Susanne Freidberg, Lynn Frewer, Sakiko Fukuda-Parr, Frank Geels, Kimo Goree, Philip Greenish, Brian Grottkau, Anil K. Gupta, Eric von Hippel, Heping Jia, Donald Kaberuka, Travis Kalanick, Yusuf Keshavjee, Jennifer Kuzma, Gary Marchant, R. A. Mashelkar, Janet Maughan, Robert May, Erik Millstone, Joel Mokyr, Romain Murenzi, Bernarditas de Castro Muller, Adil Najam, Nicholas Negroponte, Alan Olmstead, Owen Paterson, Samantha Power, Fernando Quezada, Atta ur Rahman, Adrian Randall, Fil Randazzo, Firoz Rasul, Gregory Robbins, Nathan Rosenberg, Marc Saner, Peter Johan Schei, Bruce Scott, Joseph Schwab, Rinn Self, Lecia Sequist, Ismail Serageldin, Peter Singer, Chris Smart, M.


pages: 496 words: 131,938

The Future Is Asian by Parag Khanna

3D printing, Admiral Zheng, affirmative action, Airbnb, Amazon Web Services, anti-communist, Asian financial crisis, asset-backed security, augmented reality, autonomous vehicles, Ayatollah Khomeini, barriers to entry, Basel III, blockchain, Boycotts of Israel, Branko Milanovic, British Empire, call centre, capital controls, carbon footprint, cashless society, clean water, cloud computing, colonial rule, computer vision, connected car, corporate governance, crony capitalism, currency peg, deindustrialization, Deng Xiaoping, Dissolution of the Soviet Union, Donald Trump, energy security, European colonialism, factory automation, failed state, falling living standards, family office, fixed income, flex fuel, gig economy, global reserve currency, global supply chain, haute couture, haute cuisine, illegal immigration, income inequality, industrial robot, informal economy, Internet of things, Kevin Kelly, Kickstarter, knowledge worker, light touch regulation, low cost airline, low cost carrier, low skilled workers, Lyft, Malacca Straits, Mark Zuckerberg, megacity, Mikhail Gorbachev, money market fund, Monroe Doctrine, mortgage debt, natural language processing, Netflix Prize, new economy, off grid, oil shale / tar sands, open economy, Parag Khanna, payday loans, Pearl River Delta, prediction markets, purchasing power parity, race to the bottom, RAND corporation, rent-seeking, reserve currency, ride hailing / ride sharing, Ronald Reagan, Scramble for Africa, self-driving car, Silicon Valley, smart cities, South China Sea, sovereign wealth fund, special economic zone, stem cell, Steve Jobs, Steven Pinker, supply-chain management, sustainable-tourism, trade liberalization, trade route, transaction costs, Travis Kalanick, uber lyft, upwardly mobile, urban planning, Washington Consensus, working-age population, Yom Kippur War

But thanks to SoftBank’s consistent support for a suite of Asian car-sharing firms—Didi Chuxing (DiDi) in China, GrabShare in Southeast Asia, and Ola Cabs in India—Uber’s valuation dropped below that of DiDi, which bought Uber’s China operations (after which SoftBank bought Uber shares at a discount).28 In Russia, Uber was subsumed by Yandex.Drive; in Southeast Asia, Uber sold its operations to GrabShare, which took another $1 billion in investment from Toyota. Now DiDi is expanding into Brazil, Ola Cabs (in which DiDi has invested) is moving into Australia, and Careem leads in the Gulf region. These Asian firms collectively own the Asian space while challenging Uber everywhere else. In many Asian cities, Uber is no longer the market leader but a transport solutions partner for indigenous champions. In stark contrast to Uber founder Travis Kalanick, DiDi founder Jean Liu—one of fifty recently minted billionaire Chinese females—is considered a nurturing mentor to her regional peers. Grab CEO Anthony Tan has said, “There’s this sense of brotherhood, that we’re in this battle together. Let’s show them the power of Asia.”29 Feeding and Fueling Asia Autarky, not conquest, is the holy grail of geopolitics. Countries and regions that achieve self-sufficiency in natural resources, agriculture, industries, and technology can liberate themselves from the risks of foreign dependency.


Virtual Competition by Ariel Ezrachi, Maurice E. Stucke

Airbnb, Albert Einstein, algorithmic trading, barriers to entry, cloud computing, collaborative economy, commoditize, corporate governance, crony capitalism, crowdsourcing, Daniel Kahneman / Amos Tversky, David Graeber, demand response, disintermediation, disruptive innovation, double helix, Downton Abbey, Erik Brynjolfsson, experimental economics, Firefox, framing effect, Google Chrome, index arbitrage, information asymmetry, interest rate derivative, Internet of things, invisible hand, Jean Tirole, John Markoff, Joseph Schumpeter, Kenneth Arrow, light touch regulation, linked data, loss aversion, Lyft, Mark Zuckerberg, market clearing, market friction, Milgram experiment, multi-sided market, natural language processing, Network effects, new economy, offshore financial centre, pattern recognition, prediction markets, price discrimination, price stability, profit maximization, profit motive, race to the bottom, rent-seeking, Richard Thaler, ride hailing / ride sharing, road to serfdom, Robert Bork, Ronald Reagan, self-driving car, sharing economy, Silicon Valley, Skype, smart cities, smart meter, Snapchat, social graph, Steve Jobs, supply-chain management, telemarketer, The Chicago School, The Myth of the Rational Market, The Wealth of Nations by Adam Smith, too big to fail, transaction costs, Travis Kalanick, turn-by-turn navigation, two-sided market, Uber and Lyft, Uber for X, uber lyft, Watson beat the top human players on Jeopardy!, women in the workforce, yield management

Notes to Pages 208–213 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 327 Hayak, “The Use of Knowledge in Society,” 519–530. Hayek, “Competition as a Discovery Procedure,” 9. Ibid., 10. The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1975, Leonid Vitaliyevich Kantorovich, Tjalling C. Koopmans, “Mathematics in Economics: Achievements, Difficulties, Perspectives,” http://www.nobelprize.org/nobel _prizes/economic-sciences/laureates/1975 /kantorovich-lecture.html. Travis Kalanick, “NYE Surge Pricing Explained,” Uber (December 31, 2011), http://newsroom.uber.com/2011/12/nye-surge-pricing-explained/; see also Annie Lowrey, “Is Uber’s Surge-Pricing an Example of High-Tech Gouging?” New York Times, January 10, 2014, http://www.nytimes.com/2014/01/12 /magazine/is-ubers-surge-pricing-an-example-of-high-tech-gouging.html; Uber’s CEO defended its surge pricing: “Higher prices are required in order to get cars on the road and keep them on the road during the busiest times.


pages: 586 words: 186,548

Architects of Intelligence by Martin Ford

3D printing, agricultural Revolution, AI winter, Apple II, artificial general intelligence, Asilomar, augmented reality, autonomous vehicles, barriers to entry, basic income, Baxter: Rethink Robotics, Bayesian statistics, bitcoin, business intelligence, business process, call centre, cloud computing, cognitive bias, Colonization of Mars, computer vision, correlation does not imply causation, crowdsourcing, DARPA: Urban Challenge, deskilling, disruptive innovation, Donald Trump, Douglas Hofstadter, Elon Musk, Erik Brynjolfsson, Ernest Rutherford, Fellow of the Royal Society, Flash crash, future of work, gig economy, Google X / Alphabet X, Gödel, Escher, Bach, Hans Rosling, ImageNet competition, income inequality, industrial robot, information retrieval, job automation, John von Neumann, Law of Accelerating Returns, life extension, Loebner Prize, Mark Zuckerberg, Mars Rover, means of production, Mitch Kapor, natural language processing, new economy, optical character recognition, pattern recognition, phenotype, Productivity paradox, Ray Kurzweil, recommendation engine, Robert Gordon, Rodney Brooks, Sam Altman, self-driving car, sensor fusion, sentiment analysis, Silicon Valley, smart cities, social intelligence, speech recognition, statistical model, stealth mode startup, stem cell, Stephen Hawking, Steve Jobs, Steve Wozniak, Steven Pinker, strong AI, superintelligent machines, Ted Kaczynski, The Rise and Fall of American Growth, theory of mind, Thomas Bayes, Travis Kalanick, Turing test, universal basic income, Wall-E, Watson beat the top human players on Jeopardy!, women in the workforce, working-age population, zero-sum game, Zipcar

MARTIN FORD: I saw an article recently with the CEO of Boeing, Dennis Muilenburg, saying that they’re going to have autonomous drone taxis flying people around within the next decade, what do you think of his projection? RODNEY BROOKS: I will compare that to saying that we’re going to have flying cars. Flying cars that you can drive around in and then just take off have been a dream for a long time, but I don’t think it’s going to happen. I think the former CEO of Uber, Travis Kalanick, claimed that they were going to have flying Ubers deployed autonomously in 2020. It’s not going to happen. That’s not to say that I don’t think we’ll have some form of autonomous personal transport. We already have helicopters and other machines that can reliably go from place to place without someone flying them. I think it’s more about the economics of it that will determine when that happens, but I don’t have an answer to when that will be.