Life After Google

1. The Google era is ending, ushering in a new decentralized Internet

Google's security foibles, its "aggregate and advertise" model, its avoidance of price signals, its vertical silos of customer data, and its visions of machine mind are unlikely to survive the root-and-branch revolution of distributed peer-to-peer technology, which I call the "cryptocosm."

The centralized model is failing. Google's dominance in the digital world is built on a foundation of centralized data collection, free services, and targeted advertising. However, this model is becoming increasingly problematic due to:

• Security vulnerabilities: Centralized data repositories are prime targets for hackers
• Privacy concerns: Users are growing wary of how their personal data is collected and used
• Lack of true price signals: "Free" services obscure the real costs and value of digital products

A decentralized future is emerging. The cryptocosm, powered by blockchain technology, offers an alternative vision:

• Distributed networks: No single point of failure or control
• User-owned data: Individuals have greater control over their personal information
• Micropayments: Enable more accurate pricing of digital goods and services

This shift promises to reshape the Internet, returning power to users and fostering a more diverse, innovative digital ecosystem.

2. Blockchain technology will revolutionize trust, security, and transactions

Beyond the suppliers of ads that no one wishes to see, Google's main role is intermediator. Although Google's list of business principles leads off with "The customer comes first," Google has few end customers at all.

Blockchain eliminates middlemen. The technology behind cryptocurrencies has far-reaching implications beyond digital money:

• Immutable ledgers: Create tamper-proof records for various industries (e.g., supply chains, voting systems)
• Smart contracts: Enable automated, trustless agreements without intermediaries
• Decentralized identity: Users can control and verify their own digital identities

Trust becomes programmable. Blockchain's key innovation is its ability to create trust through cryptography and consensus mechanisms, rather than relying on central authorities:

• Reduced fraud: Transparent, verifiable transactions
• Lower costs: Elimination of intermediaries and associated fees
• Increased efficiency: Faster settlement times for various types of transactions

This technology has the potential to disrupt numerous industries, from finance and real estate to healthcare and government services, by fundamentally changing how we establish and maintain trust in digital systems.

3. Artificial intelligence is overhyped; human consciousness remains supreme

Thinking is conscious, willful, imaginative, and creative. A computer running at gigahertz speeds and playing a deterministic game like chess or Go is only a machine.

AI's limitations are overlooked. While artificial intelligence has made impressive strides in specific domains, it falls short of true human-like cognition:

• Narrow vs. general intelligence: AI excels at specialized tasks but lacks broad understanding
• Consciousness gap: Machines process information but don't possess self-awareness or emotions
• Creativity deficit: AI can optimize and recombine, but struggles with genuine innovation

Human minds remain unique. Key aspects of human intelligence that AI has yet to replicate:

• Intuition and insight
• Ethical reasoning and moral judgment
• Abstract thinking and metaphorical understanding
• Emotional intelligence and empathy

The focus should be on developing AI as a tool to augment human capabilities, rather than attempting to replace human consciousness. This approach will lead to more productive and beneficial applications of AI technology.

4. The current financial system is flawed; cryptocurrencies offer solutions

All wealth is the product of knowledge. Matter is conserved; progress consists of learning how to use it.

Traditional finance is inefficient. The current global financial system suffers from several critical issues:

• Centralized control: Central banks and large financial institutions wield disproportionate power
• Inflationary pressures: Fiat currencies are subject to devaluation through money printing
• High transaction costs: International transfers and currency exchanges incur significant fees
• Limited access: Billions of people remain unbanked or underbanked

Cryptocurrencies provide alternatives. Digital currencies and blockchain-based financial systems offer potential solutions:

• Decentralization: No single entity controls the currency supply or transaction processing
• Deflationary by design: Many cryptocurrencies have fixed or predictable supply schedules
• Low-cost transactions: Peer-to-peer transfers can be faster and cheaper than traditional methods
• Financial inclusion: Anyone with internet access can participate in the crypto economy

While cryptocurrencies face challenges in terms of scalability, regulatory acceptance, and price stability, they represent a promising path towards a more efficient and equitable financial system.

5. Virtual reality will transform education, training, and human experience

VR puts the conscious human being at the center of the sphere, letting you "feel your consciousness" in its pure form.

Immersive learning revolutionizes training. Virtual reality technology is reshaping how we acquire skills and knowledge:

• Experiential learning: Users can "learn by doing" in safe, controlled environments
• High-stakes scenarios: Practice dangerous or rare situations without real-world risks
• Customized experiences: Tailor training to individual learning styles and needs

VR expands human perception. Beyond practical applications, virtual reality offers new ways to experience and understand the world:

• Empathy building: Step into others' perspectives and experiences
• Scientific visualization: Explore complex data sets and abstract concepts in 3D space
• Cultural preservation: Recreate historical sites and events for immersive study

As VR technology becomes more sophisticated and accessible, it has the potential to fundamentally alter how we learn, work, and interact with our environment and each other.

6. Silicon Valley's "free" business model is unsustainable and deceptive

If you do not charge for your software services—if they are "open source"—you can avoid liability for buggy "betas". You can happily escape the overreach of the patent bureau's ridiculous seventeen-year protection for minor software advances or "business processes" like one-click shopping. But don't pretend that you have customers.

"Free" comes at a cost. The dominant business model of many tech giants relies on offering free services in exchange for user data and attention:

• Privacy trade-offs: Users' personal information becomes the product
• Attention economy: Platforms are designed to maximize engagement, often at the expense of user well-being
• Quality concerns: Without direct monetary incentives, service quality may suffer

A new economic model is needed. Alternatives to the "free" paradigm are emerging:

• Micropayments: Enable users to pay small amounts for specific content or services
• Subscription models: Offer ad-free, premium experiences for a recurring fee
• Tokenization: Use blockchain-based systems to reward users for their contributions and attention

These approaches aim to create more sustainable, user-centric business models that align incentives between service providers and users.

7. A new system of the world is emerging, centered on human creativity

The new system of the world must reverse these positions, exalting the singularities of creation: mind over matter, human consciousness over mechanism, real intelligence over mere algorithmic search, purposeful learning over mindless evolution, and truth over chance.

Rejecting technological determinism. The current paradigm often places technology at the center, diminishing the role of human agency and creativity:

• AI supremacy myth: The belief that machines will inevitably surpass human intelligence
• Data-driven decision making: Overreliance on algorithms at the expense of human judgment
• Technological solutionism: The assumption that every problem has a technological fix

Embracing human-centric innovation. The emerging system recognizes the unique value of human consciousness and creativity:

• Augmented intelligence: Developing tools that enhance, rather than replace, human capabilities
• Ethical innovation: Prioritizing technologies that serve human values and well-being
• Interdisciplinary approaches: Combining insights from science, philosophy, and the arts

This shift in perspective encourages a more balanced and humane approach to technological development, one that harnesses the power of innovation while preserving the essential role of human consciousness and creativity.

8. The great unbundling: Cryptocurrencies disaggregate roles of money

In the great unbundling, the blockchain generates tokens of functionality (from BAT for attention to GNT for supercomputing, to RNDR for graphics processing functions). It creates mediums of exchange (bitcoin, ether, Monero, Zcash), stores of value (bitcoin, ether, and others), rivets of security (Blockstack, Rivetz), software languages (Solidity, Golem), and measures of wealth.

Traditional money is multifaceted. Historically, money has served several functions simultaneously:

• Medium of exchange
• Store of value
• Unit of account

Cryptocurrencies enable specialization. The blockchain ecosystem allows for the separation of these functions into distinct tokens and platforms:

• Transactional currencies: Optimized for fast, low-cost transfers
• Store of value tokens: Designed for long-term wealth preservation
• Stablecoins: Pegged to traditional assets to serve as units of account
• Utility tokens: Represent specific rights or services within a blockchain ecosystem

This unbundling allows for greater flexibility and efficiency in the digital economy, as each type of token can be optimized for its specific purpose.

9. Entrepreneurship and innovation are stifled by current regulatory environment

The harvest of this system and its horrendous student debt is whole generations driven out of the entrepreneurial economy.

Overregulation hinders progress. The current regulatory landscape poses significant challenges to innovation and entrepreneurship:

• High compliance costs: Startups struggle to navigate complex regulatory requirements
• Risk aversion: Excessive liability concerns discourage bold experimentation
• Incumbent protection: Regulations often favor established players over new entrants

Education system misalignment. Traditional higher education is failing to prepare students for the entrepreneurial economy:

• Crushing student debt: Graduates are burdened with loans, reducing risk-taking capacity
• Outdated curricula: Many programs lag behind rapidly evolving industry needs
• Credential inflation: Over-emphasis on degrees rather than practical skills and experience

Fostering innovation requires reform. Potential solutions to encourage entrepreneurship:

• Regulatory sandboxes: Safe spaces for startups to test innovative ideas with reduced regulatory burden
• Alternative education models: Emphasize practical skills, entrepreneurship, and lifelong learning
• Access to capital: Expand funding options beyond traditional venture capital (e.g., crowdfunding, token sales)

Creating a more supportive environment for innovation is crucial for maintaining economic dynamism and solving complex global challenges.

10. Time is the ultimate scarce resource in economics and technology

Time is what remains scarce when all else becomes abundant: the speed of light and the span of life.

Time's fundamental role. In an era of increasing material abundance and technological progress, time emerges as the ultimate constraint:

• Physical limits: Speed of light bounds information transfer and processing
• Biological limits: Human lifespan caps individual learning and experience
• Economic scarcity: Time is the one resource that cannot be manufactured or multiplied

Implications for technology and economics:

• Value of immediacy: Real-time services and instant gratification become premium offerings
• Attention economy: Companies compete for users' limited time and focus
• Time-based currencies: Some propose using time as a more equitable basis for money

Rethinking progress. Recognizing time's scarcity encourages a shift in how we measure advancement:

• Quality over quantity: Valuing experiences and relationships over material accumulation
• Efficiency and automation: Developing technologies that save time for human-centric activities
• Long-term thinking: Balancing immediate gains with sustainable, time-conscious development

By centering time as the core scarce resource, we can develop more meaningful metrics for progress and design technologies and economic systems that truly enhance human well-being.

Last updated: November 19, 2024