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Active Filters Clear all. Previous 1 Next. John James Currier. Send us an email. Locate a store. Dymocks wishes to acknowledge the Traditional Custodians of the lands on which our stores across the nation work and gather. There needs to be some central organization. So in this token economics world, what is the role of that central organization?
Or is it a company? Is it a partnership? Is it just people hanging out in a Slack channel? And if most of the things like Ethereum are run by a DAO—. And that organization lives in the ether. And because Ethereum is only in the ether that works. And so it might not be even 10 percent, it might need to be 15 percent to even cover your cost.
And we can look to the movie industry as a historical example of what will happen. And then you got these studios, which had the knowledge about how to make movies—the technology, the audio, the distribution of the movie houses.
So all the people who worked on Casablanca , all the people who worked on Gone with The Wind —they had seen what it looks like when you make a great movie, when you had enough of this operational expertise out there.
Then you move to a world where the agents ran Hollywood because they could pull together a group of 12 and they could pretty reliably make a great movie.
And we are getting to that point in tech, on business SaaS. And these network effect businesses are still not well understood, but they hopefully will be in the next 15 or 20 years. So Helium is trying to build up a nationwide datacoms network. I think the challenge for Helium is that a lot of people know how to lock a door and clean a rug, and a lot of people can drive a car at the speed limit and deliver you without killing you, but fewer people understand how to add software to their wifi and then open up their router.
Most people have been used to having an employer and being employed. Are they going to be able to get a salary by working for the core entity, or will they just have to accept this mishmash of sort of cryptocurrencies coming one way or another? Same thing will happen with crypto. I think the big picture here is that it does appear that we are at the inflection point in the explosion of money, because money is just a collective trance about confidence in the future.
How many people do you need to believe in them for them to maintain their value? Because underpinning the economy is essentially a large number of discovery systems that are figuring themselves out. And crypto seems to build more on top of that. They get big, and the pollution arises. And we know that the oceans are suffering from the fact that no one takes responsibility for them.
In networks that are totally ungoverned, the oceans. In a world that you see where everything becomes networks, what does the governance look like? How do we avoid either the tragedy of the commons or the tragedy that is a company in East Palo Alto?
And that is for us to become better practitioners at pollution management features. So it is the case that Facebook, if they had a particular mindset about reducing pollution, trading off growth for pollution reduction, they could actually be reducing their pollution quite effectively. We all have pollution in our brains. If you had a Reed Hastings running that company, you would see a very different result. But hopefully he will. Google is number one at search, who is number three?
Facebook is number one at what Facebook does, who is number three or four? And that in a sense might be problematic. And certainly in my book, what I argue is that the issue is not monopoly in the way that perhaps we thought about it with Standard Oil. And those platforms have their own incentive and they crowd out alternatives. So these things that are part of being a human are now controlled by a profit-seeking company that has dominant control within its thin slice of the market.
I think Facebook was like the th social network with the same five features. Crypto might provide that window to open that up. There might be some other technology shift that would allow us to make a change there. Number two, collective action. Applying pressure from below. So the hierarchy is defending itself against the network structure, and we always say that the SEC in the United States, the Securities Exchange Commission, they come with briefcases and ties, and the FTC, the Federal Trade Commission, they come with the guns.
And we may not like the governance mechanism, the lack of democratic accountability and so on in China. The unwinding of Ant Financial in the way that they are doing, and its data will attenuate whatever risk Ant Financial was going to pose to the system more broadly.
So in the U. And then we have Lina Khan, who is running the FTC and three years ago, wrote a very, very insightful post on the way in which Amazon affects markets negatively and sort of escapes the traditional antitrust lens.
She understands it, however, from a hierarchical perspective and she wants to protect the hierarchy. The legacy of his craftsmanship can be seen in the circulation desk he built for the Abbott Library and in the skills he passed on to his daughter, Lindsay, and her husband Shawn, and his granddaughters in his workshop.
He was always a teacher at heart. He was adored not only by his children and grandchildren, but also by their friends as well. His warm smile, quick wit, vivacious spirit, and love of a good time made him a joy to be around.
He will be remembered and celebrated by his wife, Cyndy, daughter and son-in-law Meagan and Jeff Reed and their daughters Molly and Emma, daughter and son-in-law Lindsay and Shawn Walkinshaw and their daughters Katie and Elle, nieces and nephews, and friends of all ages.
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