The Ad Hoc Committee on The Triple Revolution, The Triple Revolution, April 6, 1964.
This committee included Linus Pauling (Nobel Prize in Chemistry), Gunnar Myrdal (Nobel Prize in Economics), and a long list of other notables, and the report was written for Lyndon Johnson.
They were right, they just got the timing wrong. It wasn’t the first wave of computers — laid down on top of existing business processes — that is emphemeralizing most human labor. It’s today’s wave, the new explosion of computing scale — in our hands (foreground) and in the cloud (background) — into which we are moving everything, and through which we can monitor and computicate with everything that’s connected: people, sensors, devices, intelligent and dumb apps, and autonomous gear.
Autonomous gear — like Bezos Amazon Prime Air demo (see What does the Amazon Prime Air experiment say about the future of work?) — is going to be a major force in sidelining people from things that are ‘work’ today, and will soon be viewed as something more like electricity streaming through the walls in our buildings: a resource like water, or cable.
You wouldn’t imagine having to pay someone to fill the tank of your toilet, would you? Soon that’s how we will think of pizza delivery or taking a cab to the movies.
Some solid investing advice from @betterment’s Jon Stein.
The best digitally native financial services firms (many of them @anthemis companies) will develop services naturally tailored to this new, emerging “distributed” economy…
More than two years ago, the staff of Nacha, the industry-owned group that sets the rules for the automated clearing house network, decided it was time to modernize the system. The group’s proposal was far more modest than the near-real-time systems that now exist in numerous other countries. If a U.S. bank submitted a payment before 2 p.m. Eastern time on a weekday, it would be settled around 5 p.m., rather than waiting until the following weekday, or perhaps the day after that.
The plan, known as Expedited Processing and Settlement, may not have been a step into 21st Century, but at least it would remodel a system built in the 1970s and 1980s. But even this incremental move was too much change for a bloc of big banks that played a decisive role in torpedoing the proposal in a vote in August of last year.”
Gee, what a surprise… #turkeysdontvoteforthanksgiving