ERIK BRYNJOLFSSON + ANDREW MCAFEE ~ THE SECOND MACHINE AGE ~ 2014

~ W-TAD-CIB-TASWAWP-TSTDE-WAITNRTS ~ When – Things Are Digitized – Converted Into Bits – They Acquire Some Weird And Wonderful Properties – They’re Subject To Different Economics – Where Abundance Is The Norm Rather Than Scarcity

~ GDANLPO-A-TDM ~ Digital Goods Are Not Like Physical Ones – And – These Difference Matter

~ ETMBDHUCTMBM ~ Even The Most Beneficial Developments Have Unpleasant Consequences That Must Be Managed

~ TPIGTLBSP-PEALOP-AIRA ~ Technological Progress Is Going To Leave Behind Some People – Perhaps Even A Lot Of People – As It Races Ahead

~ IITDTLNCOTSMAASADAHTMT-TNI-BTWFTE ~ It’s Important To Discuss The Likely Negative Consequences Of The Second Machine Age And Start A Dialogue About How To Mitigate Them – They’re Not Insurmountable – But They Won’t Fix Themselves, Either

~ AAS-TCADTEIA-AD-H-ITMCAIT ~ Algorithms Are Simplifications – They Can’t And Don’t Take Everything Into Account – Algorithms Do – However – Include The Most Common And Important Things

~ WKMTWCT ~ We Know More Than We Can Tell

~ ITDOTSMA-ITC-E-D-C ~ It’s The Dawn Of The Second Machine Age – It’s Three Characteristics – Exponential – Digital – Combinatorial

~ SLAM ~ Simultaneous Localization And Mapping

~ NE-ASWTVOARFEOIUIWEAU ~ Network Effect – A Situation Where The Value Of A Resource For Each Of Its Users Increases With Each Additional User

~ TEOB ~ The Economics Of Bits

~ MT-FPAI-MSLUEFMP-BAMIID-MPWFITC ~ Making Things – Free, Perfect And Instant – Might Seem Like Unreasonable Expectations For Most Products – But As More Information Is Digitized – More Products Will Fall Into These Categories

~ M2M ~ Machine-To-Machine – Devices Sharing Data With One Another Over Networks

~ MLYNR ~ New Layers Yield New Recipes

~ GPT ~ General Purpose Technologies

~ IACT ~ Information and Communication Technologies

~ T-’I-A-B-B’-VOTW-BBDEGEOOUU-IF-TITOFFR ~ The – “Innovation-As-Building-Block” – View Of The World – Building Blocks Don’t Ever Get Eaten Or Otherwise Used Up – In Fact – They Increase The Opportunities For Future Recombinations

~ BOI-CS ~ Billions of Innovators – Coming Soon

~ BATEHC-STMOM ~ But As The Economy Has Changed – So, Too, Must Our Metrics

~ MAMWWCAITSMAA-INT-MNM-BNA-A-INT ~ More And More What We Care About In The Second Machine Age Are – Ideas Not Things – Mind Not Matter – Bits Not Atoms – And – Interactions Not Transactions

~ TGIOTIAIT-IMW-WAKLATSOVITETWDFYA-MOTCHBIFALTSBWDNKWTLF ~ The Great Irony Of This Information Age Is That – In Many Ways – We Actually Know Less About The Sources Of Value In The Economy Than We Did Fifty Years Ago – Much Of The Change Has Been Invisible For A Long Time Simply Because We Did Not Know What To Look For

~ WT-GDP-LO ~ What – GDP – Leaves Out

~ F:GFWB-BF-GDP ~ Free: Good For Well-Being – Bad for – GDP

~ R&R ~ Reputations And Recommendations

~ IA ~ Intangible Assets

~ NMANFTSMA ~ New Metrics Are Needed For The Second Machine Age

~ WGMGD-IWALATWG-WWMTWDAGTWO-IWMOT-TWWCTITWMUBO ~ What Get Measured Gets Done – If We Are Looking At The Wrong Gauges – We Will Make The Wrong Decisions And Get The Wrong Outputs – If We Measure Only Tangibles – Then We Won’t Catch The Intangibles That Will Make Us Better Off

~ IWDM-P&I-TWWGTMPANEI ~ If We Don’t Measure – Pollution And Innovation – Then We Will Get Too Much Pollution And Not Enough Innovation

~ NETCCBC-A-NETCBC-C ~ Not Everything That Counts Can Be Counted – And – Not Everything That Can Be Counted – Counts

~ HTMWD? ~ How’s The Median Worker Doing?

~ ASSOABP ~ A Smaller Slice Of A Bigger Pie

~ DTTTITEPTW-WOBLEAHLWR ~ Digital Technologies Tend To Increase The Economic Payoff To Winners – While Others Become Less Essential And Hence Less Well Rewarded

~ TSSABCIE ~ The Skill Set Affected By Computerization Is Evolving

~ TBW:S&S ~ The Biggest Winners: Stars And Superstars

~ MTG ~ Mind The Gap

~ WRALTAD ~ When Relative Advantage Leads To Absolute Domination

~ TSAOS ~ The Social Acceptability Of Superstars

~ TPCN ~ The Power Curve Nation

~ I-L-D-PR-A-TROL-IOBP-EO-OTBTEATROTGTSOEE-PP ~ Institutions – Like – Democracy – Property Rights – And – The Rule Of Law – Inclusive Ones Bring Prosperity – Extractive Ones – Ones That Bend The Economy And The Rules Of The Game To The Service Of Entrenched Elite – Bring Poverty

~ TU ~ Technological Unemployment

~ AAE:G ~ An Alternative Explanation: Globalization

~ MOOC ~ Massive Online Open Courses

~ TFF ~ The Fuzzy Future

~ SWMT-TW ~ Since We Must Tax – Tax Wisely

~ PT ~ Pigovian Taxes

~ TOER ~ Taxes On Economic Rents

~ RTBI ~ Revisiting The Basic Income

~ GI ~ Guaranteed Income

~ TNIT ~ The Negative Income Tax

~ TPE ~ The Peer Economy

~ WIW ~ Wild Ideas Welcomed

~ SA-‘MBH’-LM ~ Start A – “Made By Humans” – Labeling Movement

~ WOATDACDUOTARETKUS? ~ Will Our Ability To Detect And Counteract Destructive Uses Of Technology Advance Rapidly Enough To Keep Us Safe?

~ ITSMA-WNTTMMDA-WIIWRW-AWWV-BAIASAS ~ In The Second Machine Age – We Need To Think Much More Deeply About – What It Is We Really Want – And What We Value – Both As Individuals And As A Society

~ TIND-WSOD ~ Technology Is Not Destiny – We Shape Our Destiny

ANDREW MCAFEE + ERICK BRYNJOLFSSON ~ MACHINE PLATFORM CROWD ~ 2017

~ TRIAECOM ~ The Rapidly Increasing And Expanding Capabilities Of Machines

~ TRAOLAIYC-TBLRTTEIITI-TUA-P ~ The Recent Appearance Of Large And Influential Young Companies – That Bear Little Resemblance To The Established Incumbents In Their Industries – These Upstarts Are – Platforms

~ TEOTC-TSLAO-HKEAE-DAOTW-ANA-O ~ The Emergence Of The Crowd – The Startlingly Large Amount Of – Human Knowledge, Expertise, And Enthusiasm – Distributed All Over The World – And Now Available – Online

~ R-TBB-M&M-P&P-A-TC&TC ~ Rethink – The Balance Between – Minds And Machines – Products And Platforms – And – The Core And The Crowd

~ AFSITP-AF-LRF-LTP-A-BB-AT-CST-IEAT ~ A Fundamental Shift Is Taking Place – Away From – Long-Range Forecast – Long-Term Plans – And – Big Bets – And Toward – Constant Short-Term – Iteration, Experimentation, And Testing

~ ML-TAASOBSSTCDPAFWSAFSME ~ Machine Learning – The Art And Science Of Building Software Systems That Can Detect Patterns And Formulate Winning Strategies After Being Shown Many Examples

~ HR ~ Hi, Robot

~ VIR-VIS ~ Virtualization Is Reality – Virtualization Is Spreading

~ SPWCTSSH-T-HI-BVIALTTTWGIOTAMGMC ~ Some People Will Continue To Self-Select Human-To-Human Interactions – But Virtualization Is A Long-Term Trend That Will Generally Increase Over Time As Machines Gain More Capabilities

~ TEOFPAI ~ The Economics Of Free, Perfect, And Instant

~ CCTC ~ Curation Counters The Corruptors

~ TAOPW:BD-A-BE ~ The Art Of Platform War: Be Different – And – Be Early

~ HOSP-ETTS-TAOTEOCG-MABROO-C-TDACAPETP ~ Habits Of Successful Platforms – Early To The Space – Take Advantage Of The Economics Of Complementary Goods – Maintain A Broad Rule Of Openness – Curate – To Deliver A Consistent And Positive Experience To Participants

~ DIMMSFYT-TTBYOP-OTPISE? ~ Does It Make More Sense For You To – Try To Build Your Own Platform – Or To Participate In Someone Else’s?

~ IMTOPAE-WSAPATY? ~ If More Than One Platform Already Exists – Why Should Anyone Pay Attention To Yours?

~ WVAYO-O-PAYS-FYIU? ~ What Value Are You Offering – Or – Problem Are You Solving – For Your Intended Users?

~ TPOPI ~ The Perils Of Perishing Inventory

~ TTL-LA ~ To Tread Lightly – Leverage Assets

~ GIAALTI ~ Giving It Away And Locking Them In

~ DD ~ Durable Differentiation

~ WANP ~ Writing A New Playbook

~ WTGRC-DLTTE-I-CITO ~ When Things Get Really Complex – Don’t Look To The Experts – Instead – Call In The Outsiders

~ DE-LAH-SFAROBTDTQOTW-TBS-SATWDBTOAC-BSATLTWO ~ Domain Experts – Like All Humans – Suffer From A Range Of Biases That Degrade The Quality Of Their Work – These Blind Spots – Such As The Well-Documented Biases Toward Overconfidence And Confirmation – Become Stronger And Thus Lead To Worse Outcomes

~ ICEBTM-‘E’-AAEAA-TTBKTATROUATAATQOTW ~ It Could Even Be That Many – “Experts” – Actually Aren’t Expert At All – That They’ve Been Kidding Themselves And The Rest Of Us About Their Abilities And The Quality Of Their Work

~ IT-CFCTSW-ICBQHTDWAKWTTA ~ In Today’s – Complex, Fast-Changing, Technologically Sophisticated World – It Can Be Quite Hard To Distinguish Who Actually Knows What They’re Talking About

~ TKOTC-CEBOOD-TCCBS-WTCRC ~ The Knowledge Of The Core – Can Easily Become Out Of Date – The Core Can Become Stale – While The Crowd Really Can’t

~ TCISV-ILP-BIMM-GIA/OS-FAOC ~ The Crowd Is So Valuable – In Large Part – Because It’s Massively Marginal – Geographically, Intellectually, And/Or Socially – From Any Organization’s Core

~ OAOA-TREOTCSTPBBUACIMOTC ~ Over And Over Again – The Recognized Experts Of The Core See Their Performance Beaten By Uncredentialed And Conventionally Inexperienced Members Of The Crowd

~ TCCNAALWENMOAC ~ The Crowd Can Now Accomplish A Lot Without Ever Needing Much Of A Core

~ DAO ~ Decentralized Autonomous Organization