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Kindle Notes & Highlights
by
Don Tapscott
The New Yorker could rerun Peter Steiner’s 1993 cartoon of one dog talking to another without revision: “On the Internet, nobody knows you’re a dog.”
Online, we still can’t reliably establish one another’s identities or trust one another to transact and exchange money without validation from a third party like a bank or a government.
If you were smart and hardworking in India, your merit would bring you reputation.
“We substitute a positive-sum model which is, essentially, you can have privacy and—fill in the blank.”34
BlackBox Company, LLC,
In New York State, money transmission laws date back to the Civil War when the primary means of moving money around was horse and buggy.
Hyperledger Project.
If regulators can peer into the inner workings of banks and markets, then surely we can simplify some laws and repeal others, right? This is a tricky question to answer. On the one hand, regulators will have to rethink their oversight role, given the breakneck pace of innovation. On the other hand, banks have a track record of acting without integrity when government steps away.
Suresh Ramamurthi
“Accountants are like mushrooms—they’re kept in the dark and fed shit,”
Luca Pacioli
Name another industry where five hundred years of technological advancement have increased the time it takes to complete a task by 9,000 percent.
How many bad films must this Oscar winner make before the blockchain impairs the Hanks brand value?
Robert Monks wrote, “Capitalism has become a kleptocracy, run by and for the enrichment of CEOs, or what I term manager-kings.”70
Think assassination contracts and terrorism futures.
For example, he could buy a prediction contract that pays out if a crop yield is below a certain level, or if the country gets less than a predetermined amount of rain.
We evolved past lots of species, many of which are doing fine (in their present forms).”
Peter Thiel, cofounder of PayPal, wrote in praise of monopolies in his enormously readable and equally controversial book, Zero to One. A Rand Paul supporter, Thiel said, “Competition is for losers …. Creative monopolies aren’t just good for the rest of society; they’re powerful engines for making it better.”
