Technologies for more seamless transactions are eating the world.
Some call it the sharing economy.
Another way to generalize this is to call them exchanges.
Exchanges are eating the world.
This comment board, Pinterest, Reddit, Twitter, etc., are further examples of exchanges .
I bring this up because a lot of people wouldn’t necessarily call them markets. From the users’ POVs, there’s no money being transacted. Some call it the marketplace of ideas.
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With opportunity comes challenges.
There are already many digital versions of:
1) counterfeit money (cryptocurrency spoofing; dubious alt coins)
2) counterfeit ideas (trolls, misinformation)
3) counterfeit products (NFT art)
4) flooding the market (NFT art; dubious altcoins)
5) cheap knock-offs) (NFT art, altcoins)
6) online cults, which are groups of blind followers being manipulated for fun, profit, misguided or fallible leaders. Q-Anon, fantasy sports/influencers, Naval, Bajali all have their cults.
7) blocking the streets to markets with carts and wagons and toll booths (slow hash rates; gas fees; ransomware)
8) blowing up roads and bridges (cyber warfare)
9) thieves & pickpockets
10) contagion/pandemics. Wherever people gather, they can be exposed to bad infections as well as good ones. Q-Anon is the easiest example. Wokeness is a good virus like a vaccination, namely being more considerate of marginalized people, that has gone too far.
Etc.
Elites (leaders, priests, guilds) and nations (tribes, religions, governments) emerged to help protect folks from the above chaos.
The dream is to have algorithms do the same. But anything nature made, include man made, is fallible.
——
Meta:
Nature uses millions upon millions of fungi and tiny bots called viruses per cubic meter of air and earth to tear the exchanges down. No joke. They are mostly gentle garbage and recycling services relentlessly working in the background. Sometimes they go awry especially in crowded conditions, wrong context or when weakened organisms can’t fend them off.
Viruses: or when they are so novel that there is NO natural immunity built up
—-
Beware of the bots and viruses called algorithms, especially the ones that can spoof and spew dDOS attacks. There is very little natural immunity as these are novel and further are at scale or may have emergent properties.
Technologies for more seamless transactions are eating the world.
Some call it the sharing economy.
Another way to generalize this is to call them exchanges.
Exchanges are eating the world.
This comment board, Pinterest, Reddit, Twitter, etc., are further examples of exchanges .
I bring this up because a lot of people wouldn’t necessarily call them markets. From the users’ POVs, there’s no money being transacted. Some call it the marketplace of ideas.
——-
With opportunity comes challenges.
There are already many digital versions of:
1) counterfeit money (cryptocurrency spoofing; dubious alt coins)
2) counterfeit ideas (trolls, misinformation)
3) counterfeit products (NFT art)
4) flooding the market (NFT art; dubious altcoins)
5) cheap knock-offs) (NFT art, altcoins)
6) online cults, which are groups of blind followers being manipulated for fun, profit, misguided or fallible leaders. Q-Anon, fantasy sports/influencers, Naval, Bajali all have their cults.
7) blocking the streets to markets with carts and wagons and toll booths (slow hash rates; gas fees; ransomware)
8) blowing up roads and bridges (cyber warfare)
9) thieves & pickpockets
10) contagion/pandemics. Wherever people gather, they can be exposed to bad infections as well as good ones. Q-Anon is the easiest example. Wokeness is a good virus like a vaccination, namely being more considerate of marginalized people, that has gone too far.
Etc.
Elites (leaders, priests, guilds) and nations (tribes, religions, governments) emerged to help protect folks from the above chaos.
The dream is to have algorithms do the same. But anything nature made, include man made, is fallible.
——
Meta:
Nature uses millions upon millions of fungi and tiny bots called viruses per cubic meter of air and earth to tear the exchanges down. No joke. They are mostly gentle garbage and recycling services relentlessly working in the background. Sometimes they go awry especially in crowded conditions, wrong context or when weakened organisms can’t fend them off.
Here’s a viewpoint adjacent to Erik’s:
https://twitter.com/cdixon/status/1429585831899983876?s=21
Viruses: or when they are so novel that there is NO natural immunity built up
—-
Beware of the bots and viruses called algorithms, especially the ones that can spoof and spew dDOS attacks. There is very little natural immunity as these are novel and further are at scale or may have emergent properties.