Machine, Platform, Crowd: Harnessing Our Digital Future

Machine, Platform, Crowd: Harnessing Our Digital Future


Machine, Platform, Crowd: Harnessing Our Digital Future ➝ [Epub] ❦ Machine, Platform, Crowd: Harnessing Our Digital Future By Andrew McAfee ➧ – Centrumpowypadkowe.co.uk In The Second Machine Age, Andrew McAfee and Erik Brynjolfsson predicted some of the far reaching effects of digital technologies on our lives and businesses Now they ve written a guide to help reader In The Second Machine Crowd: Harnessing Epub Ù Age, Andrew McAfee and Erik Brynjolfsson predicted some of the far reaching effects of digital technologies on our lives and businesses Now they ve written a guide to help readers make the most of our collective future Machine Platform Crowd outlines the opportunities and challenges inherent in the Machine, Platform, eBook ¼ science fiction technologies that have come to life in recent years, like self driving cars and D printers, online platforms for renting outfits and scheduling workouts, or crowd sourced medical research and financial instruments.

  • Paperback
  • 416 pages
  • Machine, Platform, Crowd: Harnessing Our Digital Future
  • Andrew McAfee
  • 23 September 2019
  • 039335606X

About the Author: Andrew McAfee

Is a well known Crowd: Harnessing Epub Ù author, some of his books are a fascination for readers like in the Machine, Platform, Crowd: Harnessing Our Digital Future book, this is one of the most wanted Andrew McAfee author readers around the world.



10 thoughts on “Machine, Platform, Crowd: Harnessing Our Digital Future

  1. Athan Tolis Athan Tolis says:

    Warning Red Alert At the end of each chapter this book has summaries of the main points and questions, and in particular questions about how the content of the chapter may relate to the goings on at your employer It is clearly meant to be packaged into continued education courses offered by the authors employer the Sloane School of Business at MIT to middle aged hence the enormous print middle managers on a two week jolly off site executive MBA This, sadly, I discovered only aft Warning Red Alert At the end of each chapter this book has summaries of the main points and questions, and in particular questions about how the content of the chapter may relate to the goings on at your employer It is clearly meant to be packaged into continued education courses offered by the authors employer the Sloane School of Business at MIT to middle aged hence the enormous print middle managers on a two week jolly off site executive MBA This, sadly, I discovered only after the book had come through the mail.I decided to read it anyway, because the authors of Machine Platform Crowd are who I thank for waking me up to the fact that we are living through a proper, bona fide depression Just like the depression that the discovery of the tractor and phosphates caused in the 1930 s, by dint of putting out of work, permanently, the 25% of the US workforce who used to work in agriculture, McAfee and Brynjolfsson argued six year ago in their 76 page monograph Race Against the Machine that we are living a new depression brought about by a Second Machine Age which is the title of their second, less sombre, book, incidentally The victims this time round are educated people who do repetitive work that once upon a time but not anycould only be performed by an educated human Oh, and we re only getting started Sure, blame the deficits, blame the banks, blame the ninja loans, blame the Fed, blame who you like, but only for trying to solve this intractable problem in silly ways that won t work and thereby for making things even worse The deeper cause of the depression, however, is that the educated class has educated itself to do repetitive tasks that are increasingly done by machines Oh, and the 1% of guys who can run with the machines, yeah, they are going to be the bad guy 1 percenters Ooops.This was a good way for the authors to become famous and earn my respect forever but not a terribly good way to get rich themselves Dismal does not sell Ask that Malthus fellow.Boy, have they changed tack since 2011 Machine Platform Crowd is to the machine age what Candide and Ingenu were to the Enlightenment, but with no trace of irony, sarcasm or, indeed, doubt about what promises to be the best of possible worlds.Let s start with us humans We suck at judgement, it turns out Our Kahneman System 1 is trash and an algorithm will always beat it But wait Not all is lost That info is solid gold for those of us who are smart enough to understand that we have been doing things backwards All we need to do is let our System 1 free to come up with whatever garbage a billion of years of evolution have taught it to do, and then feed it all as input to the algorithm Job done Conversely, don t dare take the results of the algorithm and judge them with your experience You ll mess it all up.Don t meet the client Trust that FICO score Call up the guys at FICO and ask politely if their computer will talk to your loan officer It may well be able to process his otherwise useless experience into an even better FICO score You ve guessed right, it does not say this in the book, that s me extrapolating, sorry Next let s look at the machines themselves In the words of ZZ Top, they come in two classes First, the kind that we program with some sensible ideas we have example adjectives in English absolutely have to be in this order opinion size age shape color origin material purpose Noun p.70 and then have the machine implement much faster than we ever could Second, the kind that don t need us at all and look at reams of data and come back with some answer and we just tell them how well they guessed That s called supervised learning for those in the back who are not paying attention The first kind has been beating idiots like me at chess since I can remember The second kind steered, but not quite, by a fellow Greek, let s hear it for Demis did something muchawesome the other day, it beat the world champion in Go, which is apparently much harder because there are fewer atoms in the known universe and any undiscovered parallel universes than there are ways to lay your pieces on a Go board Maybe Approximately Where s Val Kilmer when I need him The second kind of machine does not know what it knows or how it learned it, it embodies the Polanyi paradox What s new and amazing, basically, is a machine that, like me, could not tell you why it played the move, but very much unlike me, plays the correct move All from having played many many manytimes than I ever have, mostly with itself no, honestly, that s what it does And it s finally possible today thanks to i Moore s Law iiWeb Services and iii the availability of big data to train itself on.The future is in machines that don t know what they know, just like us, basically Instead of asking for the Highest Paid Person s Opinion, also known as the HiPPO, ask this machine It may not know what a liver transplant is, but if it thinks you need one, stop reading and call Alvin Roth now Kidney, liver, it s all the same, don t heckle Instead, pray that it s as well trained in recommending rare medical procedures as Demis Deep Mind is at playing Go with itself I m sure it will be fine Better than the highest paid doctor s opinion, you can be sure of that The final frontier is that machines are starting to do creative work Exactly how they play Go without knowing why they played the move, merely that it will probably work, they can design a radiator that looks like no radiator you ve seen before, rig up a very effective chassis for your racing car, or compose a piece of music that you are likely to enjoy Amazingly, after all the mumbo jumbo of the first 100 pages in the book, I actually found this fifth chapter to be totally fascinating and convincing.From Machine the book moves on to Platform, which actually is a tremendous section There are two authors at work here, basically, and this is the one I prefer The authors start by explaining that Apple makes 110% of all money made in phones today because 1 it controls the platform for all the apps and 2 nobody is counting the money Google is making off of Android Jokes aside, they make the very strong point that making devices comes down to competing on costs, whereas establishing a platform allows you to reap the positive externalities generated by every single new participant in your platform The virtuous circle works like this every app that runs on an iPhone creates demand for the iPhone itself if many people own an iPhone, this creates a bigger supply of good appsSo 700 dollars is a lot of money for a telephone, but not if it can run 700 apps you d pay a dollar each for, and things work out such that it will And Apple no longer has to find its competitive edge in squeezing down the costs of making its beautiful devices.Next come up the two sided platforms, which are all the craze I do not remember my days of starting book2eat.com that fondly a good 40 VC s were aghast at the fact that I was trying to sign up both restaurants and punters at the same time, and another 200 never answered my calls or emails but the point is that if you manage to fillseats the word gets out and you sign uprestaurants and if you ve signed uprestaurants punters are likelier to make a booking on your platform and this creates a dynamic that becomes irresistible So much so, that for example a company called ClassPass that filled exercise studios with punters who were happy to be told at the last minute where to take their yoga mat to had to revise its pricing policy p 178 due to the unmitigated success of the business model in filling exercise classes Next up is an analysis of Uber Here I finally understood something that had always been a mystery to me Uber s obsession with low price is so huge because that s where the demand curve is most elastic All the way to the right, the demand curve is almost horizontal People switch over from the train to Uber at some point, basically, and then all your cabs are full all of the time The chart is on p 213 and I totally buy it Congestion in that city would be awful, but that s down to the choice of the taxi example, of course The point about why double sided platforms love a low price is very well made The way ratings have solved the asymmetric information problem is discussed here too, with the inevitable name dropping of the authors colleague down the hall who got the Nobel Prize for first posing it Oh, and don t worry, Airbnb will not kill the hotels industry, because hotels cater to business travelers Don t forget, it s all good The fate of the cabbies and the longshoremen is left to the reader to ponder, but they can all go work for Travis, no The third, final, section of the book is about the crowd It starts by explaining that crowdsourced software rocks, basically, and that the ingredients you need are 1 Openness who knows what motivates them, but people do contribute2 Noncredentialism good software can be written by absolutely anyone3 Verifiable and reversible contributions unlike a novel, you can test software quickly and undo any poor contributions4 Clear outcomes via a good license you can assure coders that their work will remain public5 Self organization people do best the work that they WANT to do and if that leads to a fork in the code, so be it6 Geeky leadership it s the kind coders will write code forHayek and Polanyi make another guest appeareance in the chapter, but it works fine without them.A further important point about the crowd is that very often the contribution to a project that makes the big difference does not come from an expert in the field Indeed, the knowledge that will cut the Gordian knot may come from somebody with knowledge that is far away from the subject, i.e somebody who will be surplus to requirements 99% of the time and thus a team of experts could never afford to have on board The expert you know is not the expert you need, basically He s somewhere in the crowd and that s where you must reach for him.From there we jump to a painfully banal chapter on Bitcoin that addresses the points about cryptocurrency I could not care less about like the mechanics of how it works, described just inaccurately enough for you not to be able to actually work it out, or the effete generalization that blockchain may beimportant than Bitcoin, barely gets into the aspects that matter is it money How does it provide store of value if there can be a million different otherwise scarce and deflationary varieties of Bitcoin How will it compete if nobody will accept to be paid tax in it and complains that the Chinese are now dominating it By that point, we find ourselves in a final chapter that s nothing to do with Machine, Platform or Crowd, but is there to make the customers feel good who are attending the seminar and assures them that companies will still carry on being necessary in the future, because they are who possesses the residual rights to control the right to make decisions not specified in contracts Given that, presumably for the benefit of the same attendees, there is a need to sketch very well, I must say, see pp 154 156 how the demand curve and the supply curve work and what happens when they intersect, one can safely say that this short paean to the firm is guaranteed to go over their head But it must make for a warm conclusion And now, back to work

  2. Marks54 Marks54 says:

    I was disappointed with this.The authors are well known professors consultants who write a lot about current developments in technology and the workplace They place current developments in the context of our prior understandings of industry, work, and technology and thus help their readers orient themselves to a fast changing technical environment I also suspect that these sorts of works are helpful as reading materials for executive education classes and consulting assignments This is clear I was disappointed with this.The authors are well known professors consultants who write a lot about current developments in technology and the workplace They place current developments in the context of our prior understandings of industry, work, and technology and thus help their readers orient themselves to a fast changing technical environment I also suspect that these sorts of works are helpful as reading materials for executive education classes and consulting assignments This is clear from the summaries and discussion questions at the end of each chapter I have no problem with any of this and this sort of intellectual gate keeping on really technical matters is very helpful.This book is organized around three related streams of technical development the proliferation of cheap and powerful computing, the development and prospering of network platform approaches to organizing technical firms, and the increasing importance of crowd based approaches for obtaining tacit knowledge that is resident is some collective group or audience So far, so good these are critical streams of development and lots of books and papers are written about each For each of these three, McAfee and Brynjolfsson create a pairing withtraditional business arrangements For smart computers, the pairing is with traditional views of simpler androutinized machines and non data driven tasks Networked platforms are compared with traditional manufacturing and service strategies Crowds are sources of critical information are compared with the traditional hierarchical expert based structures of traditional firms For each of these pairs, the authors then review current developments of interest and highlight the important issues that have arisen, especially over the last decade The discussions are generally informative and well written The materials that are referenced are current and on target The discussions also highlight important case examples, especially if they have made the news For example, Uber and AirBnb are featured as cases to show the growth of network platform businesses.Why only three stars To start with, I had seen many of the examples before and there was not much new in the presentations Far too often, I wondered what the authors were bringing to the table in terms of new information or principles There were some fairly informative discussions that I liked, especially in discussion of network strategies and how they worked for Uber I also enjoyed the discussion of bitcoin and block chain issues Several of the discussions fell flat For one example of this, early on the question is raised of expert systems outperforming expert human judges, raising the issue of whether AI systems will eventually take over in making decisions The problem with the discussion is that these issues have been common for decades and yet the computer has not made much progress in taking over, except in well known specific situations The discussion turns out to be rehash rather than a new look at the importance of high powered computers Surprise We still need human judgment Big Data is not the total solution The facts do not speak for themselves.For another example, there is a discussion towards the end of whether organizations and firms have a future and whether new networked technology and crowd sourcing approaches will lead to a radical decentralization that obviates the need for organizations Well, it turns out that there areorganizations than ever andmanagers than ever Evidently it is hard to do away with the incomplete contracting problem raised by transaction cost economists but who ever suggested that firms and organizations would go away under the onslaught of technology Nobody Organizations have changed, big firms aredecentralized, and outsourcing iscommon than it was 50 years ago for reasons well considered by transaction cost researchers Why the big discussion on this when the dynamics have been well known for a long time My biggest issue is that the book spends too much time disabusing readers about some troubling future trends that seem to be the result of overzealous hyping of technological changes perhaps by the consultant and guru classes Changes are happening and the resulting business environment is complex Readers have to come to grips with this and think hard about it It does not help to take the highly touted putative success of some start ups that have yet to show profits and see the future as the realization of the hype Real life is hard enough to analyze for these developments Some of the marketing advocacy and promise of new worlds would have been better left in the box.This book will be most valuable for people who need to get up to speed on these issues in a hurry Fornuanced views, read the articles that are cited and dive a bit deeper into the details It will be well worth it

  3. Elena Elena says:

    I enjoyed it I do not watch TV and do not read news so i only found out about this couture clothing and accessories renting platforms from this book Clever And some items are exposed to particular markets after they served their time inadvanced ones And too bad the system of purchasing unlimited access to unused capacities of exercise facilities did not survive but I am sure eventually most optimal solution will be found My own need is for a platform where i can order for a reasonable I enjoyed it I do not watch TV and do not read news so i only found out about this couture clothing and accessories renting platforms from this book Clever And some items are exposed to particular markets after they served their time inadvanced ones And too bad the system of purchasing unlimited access to unused capacities of exercise facilities did not survive but I am sure eventually most optimal solution will be found My own need is for a platform where i can order for a reasonable price a reasonable quality narration of a book not available on audio CD or audible Other memorabilia from this book order a car cleaning service exactly where the car is parked service arrives to it Uber asks drivers to take and submit selfies once in a while to make sure the car is still driven by the one who received the ratings dealing with information asymmetries make the problem generic enough free of domain knowledge and ask the crowd to try to optimize the algorithm reducing the time to complete a task possibilities that block chain technology an un alterable ledger can bring Will follow the authors for sure

  4. Daniel Daniel says:

    This is an excellent book about our evolving reality thanks to technology It s divided into 3 parts Men vs Machine, Product vs Platform, and Core vs Crowd 1 Men or machine AI is already making better decisions in investment, medical diagnosis and a host of other scenarios However, it suffers from Polanyi s Paradox, meaning that there is so much tacit knowledge, AI can t possibly consider them all because it does not know what to know That s why predictive AI for presidential election can This is an excellent book about our evolving reality thanks to technology It s divided into 3 parts Men vs Machine, Product vs Platform, and Core vs Crowd 1 Men or machine AI is already making better decisions in investment, medical diagnosis and a host of other scenarios However, it suffers from Polanyi s Paradox, meaning that there is so much tacit knowledge, AI can t possibly consider them all because it does not know what to know That s why predictive AI for presidential election can miss the mark Also if John goes to football games every week, but broke his leg, a human will immediately know that he won t be going this week, but AI would not Also AI is good at doing what it s supposed to do It is inflexible That s why Uber s surge pricing during terrorist attacks, though economically correct, caused so much public uproar In the end surge pricing AI was shut down for that period 2 Product or Platform The power is clearly shifting to the Platforms like Google, , Facebook, Uber and Airbnb However they cannot completely eradicate the traditional business The authors give the example of Airbnb which is not suitable for the business traveller, who needs meeting room, easy meals etc I must add that there is backlash against these Google was fined by the EU, and London has just shut down Uber 3 Core or Crowd The crowd is getting smarter than core, with examples given as solving some genetic problems Some platforms are now available to let anyone anywhere to bid for jobs Bitcoin was developed to bypass central banks and government control of money However the problem for Bitcoin is that China is now running the largest proportion of nodes and they will eventually have control over it Decentralised work is unlikely to annihilate the firm, because of the problem of incomplete contract That essentially says that all contracts or algorithms are imperfect and thus we still need the firm to solve unexpected problems I enjoyed this well researched book The only thing is that I ended up skipping the repetitive chapter summary and study questions

  5. Tim Pendry Tim Pendry says:

    This book is a good run down of commercially disruptive technologies, at least those disruptive as of 2017 Things move so fast that one wonders how long this text will be useful but at the time of reading two years later it still acted as a decent primer.McAfee and Brynjolfsson are not men to doubt the capitalist paradigm or free markets so they are well into the idea that creative destruction is one of those things we have to live with and that dinosaurs will die and adaptable creatures will t This book is a good run down of commercially disruptive technologies, at least those disruptive as of 2017 Things move so fast that one wonders how long this text will be useful but at the time of reading two years later it still acted as a decent primer.McAfee and Brynjolfsson are not men to doubt the capitalist paradigm or free markets so they are well into the idea that creative destruction is one of those things we have to live with and that dinosaurs will die and adaptable creatures will thrive Managers, of course, are set up to be heroes.The book is divided into three parts matching the three starting nouns machine, platform and crowd Each part moves steadily and clearly into theradical end of each model, with for those who like that sort of thing end chapter executive summaries and questions for troubled executives.The Machine covers the rise of machine learning and artificial intelligence and has some tough things to say about the value of human reason In the end, humans are relegated to being the creatures who command the machines to meet their wants and needs according to their values.Much of the administrative and professional class is going to be consigned to history, it would seem, leaving a management elite of those who make the value judgments and a working community of personal service providers and those who monkey around literally the machines.Even creativity so they suggest will be devolved to machines While humans are not to be made useless by any means after all, this is for our benefit , work is going to mean something very different for us within a very few decades.Needless to say, being market ideologues speaking unto managers and capitalists or would be capitalists , the authors have nothing to say on the wider social and cultural consequences of a world of machine human interaction One suspects they don t enormously care in this book.The Platform section is exceptionally useful in explaining, in clear terms and from the perspective of economics, one of the mysteries of the new economy to ordinary folk precisely how it creates wealth or, rather, how it makes money which may or may not be the same thing.The consumer sees a lot of things provided for free I pay for one newspaper subscription reluctantly , use ad blockers and restrict streaming to Netflix,Prime and Spotify so how do I get so much information and entertainment elsewhere for nothing I found this valuable enough to know that I will hold on to the book business books otherwise tend to get recycled out of my library faster than most categories for quick reference when ever I have to deal with a start up in technology in order to double check the viability of their business model.It has to be said that, two years on, with the financial markets beginning to get cold feet about pouring money into platforms like WeWork, one gets the sense that what works on paper may not quite work as the authors expect as projects come up against real world difficulties.The book is, however, wise to see platforms as disruptive but not exclusive and that traditional businesses such as hotels in relation to, say, Airbnb still have many opportunities for adaptation whether into niches or into global segmentation for particular markets.In the final section Crowd , the authors draw a distinction between the crowd enabled by the internet and the core the traditional hierarchical management centre This section is largely about corporate organisation and decentralisation.This reminds me of the last book we reviewed Niall Ferguson s The Square and the Tower which explored how networks and hierarchies had played off each other to transform society and culture in history The crowd core story is a variant of that tale.There is an element of wisdom of crowds in this although we are personally suspicious of the long term value of this concept Lemmings are a crowd and human confabulation and cognitive biases which make machinesuseful than us can create herd absurdities.To be fair, the authors are thoroughly sensible on the limits of decentralisation This makes them very cautious about some of theoutre libertarian economic models Recent history is tending to prove them right There is a necessity for some core functions Which brings us neatly into the world of bitcoin and blockchain where the authors are still cautious boosters although the last two years has tended to show that these technologies have a long way to go yet before they are truly transformative instead of magic money pits.The book closes with a question about whether the new technologies will eventually kill off the corporate sector to replace the firm with, say, the collective or the peer to peer network or some other form of decentralised organisation and it will be no surprise to hear that they do not think so.This final and shortest section is worth reading because it is very well argued and plausible within a classic American capitalist framework, based on a very articulate exposition of the theory of transaction cost economics and the problem of incomplete contracting Incomplete contracting the inability of contracts to cover every eventuality acts as a check on the smart contract being a total solution for global commerce as opposed to a possible solution to particular categories of repeatable contract.The authors may contradict themselves here insofar as their Machine section implies that AI will be able to make such managerial judgements but we ll let that pass on the basis that they also say there are natural limits to AI comprehension of real world human interactions.Of course all this depends on a particular concept of property rights but the authors complacency is certainly justified so long as the American Constitution remains honoured Even the Corbynista socialists will have trouble unravelling the British bedrock of protective common and statute law.At the very end, the book is a booster for good managers who are as all such books tend to do heroised as the new breed of socially skilled aka manipulative, let us dare not say sociopathic directors of persons in a common cause makingmoney for people with money.Taken as a whole, this is an excellent and fair and not over enthusiastic guidebook to the new commercial reality If it does not deal with social or cultural consequences and is managerialist to the core, it strikes me as well grounded in its economics.If I have doubts, it is not about the book which I recommend but about where the ideology behind the book is leading us or rather where it thinks it is leading us only to find that humans are remarkably stubborn about not being led except by their own desire, greed and fear.It is not the little things , like the energy consumption of blockchain in an age of middle class neurosis about climate change, that suggest black swans ahead but the slow collapse of people s willingness to take expert or managerial guidance for granted.I detect a muchvolatile humanity, quite capable of switching out of a product or platform and into a new one at surprising speed, machines discredited quickly by single failures as in the Ethiopian Airlines crash and social and political resistance to unmanaged effects.There are signs of techno hubris Too many energetic geniuses chasing too many advanced projects Too little interest in those awkward social and cultural effects and in the psychology of nervous politicians Too much creative destruction for the market to bear Corporate managers manage the delivery of things but not the effects of things so the management of the latter is left to States with increasing problems of administrative capacity and volatile democratic politics What could go wrong The simple business of lobbying for advantage is no longer simple and done behind closed doors The old socialism for corporations is being exposed to public gaze in the West and managers may well look to Chinese guided democracy as preferable to chaos but not be able to wangle it.I detect that the manipulations involved in marketing, PR and human resources have created a race of managers who believe their own lies that they are needed and loved farthan they are like aristocrats in 1788 who would swear that their peasants adored them.Just when managers most need the skills outlined so well by McAfee and Brynjolfsson at the end of the book, the crowd communications on platforms may be educating raising the awareness of workers and public that those skills may be manipulative and manufactured and so to be resisted.It may even be that, if we think of the original of socialism as being an ideology of freedom that was actually about bread, shelter and medicine, we are moving towards a variant ideology of needs and wants that is actually about freedom and that freedom is, in fact, resistance to managerialism.I would be fascinated to see a dissident reverse engineer this text and take it out of the zone of managers meeting needs and wants through the corporate organisation of markets and into a new zone of demands that use the technologies to contain and control managers and administrators.In fact, as always, my guess is that the coming decades will see an uneasy compromise of networks and hierarchies The technologies will raise social and other problems Managers will be run ragged by the complexity of it all Populations will never quite be clear about what they want.It is probable that even the mighty FANGS could be brought down to earth and new forms of enterprise emerge and at ever faster speeds The regulators will be fighting wars on two fronts Voters will alternate between rage and apathy and it will never be clear which is uppermost.Above all, survival requires somethingthan understanding how to manage human beings in an age of machines It also requires an understanding of actual rather than believed power relations a recognition of powerlessness or manipulation or exploitation is the very trigger for revolt Still, if you are a manager struggling with this new and unstable world, then this book is not a bad basic primer so long as you remember that the theory may not always accord with the brute reality as it unfolds in the future

  6. Narendran Thangarajan Narendran Thangarajan says:

    I see this bookas a revision to The Second Machine Age by the same authors Though the main difference is that in that book, the authors differentiate the societal impacts of the Industrial Revolution from the Second Machine Age However, in this book, they dive deep into the current Information and Communication Technologies ICT revolution and categorize the various rapid, seemingly random innovations under three buckets or re balancings Man and Machine, Products and Platforms and I see this bookas a revision to The Second Machine Age by the same authors Though the main difference is that in that book, the authors differentiate the societal impacts of the Industrial Revolution from the Second Machine Age However, in this book, they dive deep into the current Information and Communication Technologies ICT revolution and categorize the various rapid, seemingly random innovations under three buckets or re balancings Man and Machine, Products and Platforms and finally Core and Crowd The authors have excelled in convincing the readers at least me about the categorization and they also provide some advice on how individuals and organizations can balance between the three pairs.A timely book The best time to read this is now

  7. Vicky Hunt Vicky Hunt says:

    A Platform of Platforms The Internet Machine, Platform, Crowd is an application level guide to implementing available technology into the business place It seems geared towards workplace staff development for companies, with questions at the end of each chapter that could be discussed in a team read of the book It is the type of book employees often read to further their own personal development, as well It is not a work of great vision for the future, or cutting edge tech info, or business A Platform of Platforms The Internet Machine, Platform, Crowd is an application level guide to implementing available technology into the business place It seems geared towards workplace staff development for companies, with questions at the end of each chapter that could be discussed in a team read of the book It is the type of book employees often read to further their own personal development, as well It is not a work of great vision for the future, or cutting edge tech info, or business theory to any degree All of the ideas contained within are dated 5 15 years from before the publication date But, to be clear, this is intended to spark ideas for existing programs And, it is intended to be a guide to thinking and practice in the work world In general it is not the owner of stage coaches who invent railways To give some comparison, Michio Kaku writes about future tech and new ideas in the world of business tech His ideas are often theory level and show great genius and vision They are ideas the average person would not come up with just by surveying the available literature Vision is like creativity The authors here point out an idea from ai pioneer Marvin Minsky He says that some words that describe processes in our mind our suitcase like jungles of different ideas Creativity is such a word Creativity is specifically thought of as the use of imagination or original ideas especially in the production of new works But, the actual denotation is simply the ability to make new things or think of new ideas The average employee and manager pair in the work world are like the stage coach owners and drivers They are not adept at thinking of how to invent railroads They are finding a decent amount of success at their current business plan This is why many business models fall to the wayside when some new tech comes to the foreground Where Michio Kaku type writers are looking for alternative ideas outside the box that could in possibility be developed books like this one provide ideas from inside the box to augment your current tools of the trade Machines can do better Human minds brilliant but buggy At the core of this book is the question, Is your business a Second Machine Age Company This idea is an expansion on their earlier book of that title I have not read that book, so I have no idea whether it is practice or theory But, judging from the dates of publication, and the dates of ideas used in this book, it sounds like this is just adown to earth application of the same principles from that book I would expect that it isof a synthesis of the available ideas, while this involves a lower application level of thinking It gives suggestions for encouraging the acquisition of new ideas in your work But, everything contained here can be gained from reading, watching the news, or even playing video games, which deals quite a bit with robotics and technology.What s , all of these ideas are already being used to great success all over the business world I know Honda uses robotics throughout the manufacturing process, and has for years, for one example Asimo, their robot, was first created in 2000 I believe So, this is not cutting edge stuff here Not only could your 15 year old research and compile this info, but your 9 year old would not even need to do the research And, that draws me to the crux of everything in this book If you are not using young people, or as the authors term tech savvy people, geeky workers as leaders and decision makers then your organization, business, or group will still be making stage coaches while the customers are on the train platform It is great to have leaders with mature judgment, and good leadership qualities, as well as great communicators But, don t leave out the younger and or tech savvy generation in your leadership The company of the future will have just two employees A human and a dog The human s job will be to feed the dog And, the dog s job will be to keep the human from touching any of the machines joke anecdote from the bookThe book is set up on the plan of Mind Machine, Products Platform, Core Crowd In the past, business as usual meant having a product, and using your mind to develop that product with the backing of a core of important leaders In this second machine age of today there is often no visible product Instead, the product is a digitized or mechanized bit of data the machine And, instead of just relying on a core of people, many companies are reaching out to the crowd for backers and input A good example of this from the book is that of David Bowie and his Bowie Bonds He sold bonds to raise money for an album This idea came and went very fast, but he was using creative funding techniques Another example is that of game developers who now often use crowd funding to kickstart their games During the development process, they reach out to the crowd funders for ideas on what they want to see in that game It places much of the locus of control outside the core, but it makes a muchmarketable product The best way to predict the future is to invent it There are times when the crowd may not be the best source of inspiration Take the unique situation of churches for example The leadership of a church is often guided by ideas that are limited to a certain framework of their interpretation of Scripture Reaching out to the crowd would result in di vision instead of vision or multiple plans, many counterintuitive to the overarching goal Businesses have to keep this in mind as well Ultimately, the game designer in my earlier example will lose some of his own ideas in that finished product by virtue of having accepted crowd input Does this matter That is a highly personal question, and has caused the split up of many companies Sometimes, a company is intending heading in a certain direction, while one element wants to move in a different direction When this happens, people often split and form individual companies So, I am saying that in all this thinking outside the box, you ultimately have to ask yourself why you were inside the box in the first place Is the box a guide, or is it keeping you from moving forward Uber, the world s largest taxi company, owns no vehicles, he wrote Facebook, the world s most popular media owner, creates no content Alibaba, the most valuable retailer, has no inventory And Airbnb, the world s largest accommodation provider, owns no real estate Similarly, many of the largest hotel companies don t actually own all the properties that bear their names, opting instead to sign licensing or management agreements with real estate holders Similarly, many of the largest hotel companies don t actually own all the properties that bear their names, opting instead to sign licensing or management agreements with real estate holders Throughout the book, many ideas and specific examples of technology are described from Chess and Go playing Artificial Intelligences, to War Games style taking humans out of the loop, to self driving cars, to crypto currencies The authors point out the preferability of favoring the crowd over the core for many internet users of Bit Coins They describe how the intention was for the currency to be uncontrollable by any one society, but with over half of the currency being owned within China, it loses some of that freedom of crowd ownership They point to what Science Fiction writer Bruce Sterling said in 2012 He said that it makes no sense to talk about Internet, PC business, telephones, silicone valley, or the media It makessense to study Google, Apple, Facebook, , and Microsoft He was talking about what happens when we favor the core over the crowd He called them stacks because there is a great concentration of power there in these companies We used to refer to Trust Busters and monopolies But today, monopoly is becoming an irrelevant term Alibaba, founded in 1999 by former schoolteacher Jack Ma and seventeen colleagues, acted as an online middleman connecting buyers and sellers Its most popular sites were the Taobao Marketplace, where individuals and small businesses sold goods to consumers, and Tmall, where larger companies did the same By the end of 2016, the number of Chinese people using Alibaba s apps every month was greater than the entire US population When you put it all together, the internet itself is the ultimate model of this idea of machine, platform, crowd The internet is the machine, the platform, and the crowd all three in one And, many businesses today have succeeded by going O2O, or Online to Offline and bringing bits to the world of atoms Uber is a prime example of this I enjoyed reading the book, and think it is a good look at what is happening around us, or rather what has happened in an already being fulfilled kind of way The only thing new I learned here was of the existence of Airbnb That is definitely an interesting service that utilizes several concepts that have been in practice for decades The developer of Airbnb is certainly using the machine, platform, crowd design idea of the internet to make money I enjoyed this in the Audible format, which was narrated well by Jeff Cummings

  8. Jmota05 Jmota05 says:

    Excellent I think its a must read for all teenagers 16 or 17 and all the way up to where productive age finishes The world is changing and fast This read helps us understand how Excellent I think its a must read for all teenagers 16 or 17 and all the way up to where productive age finishes The world is changing and fast This read helps us understand how

  9. Joanna Katelyn Joanna Katelyn says:

    It is easy to think that old economic principles no longer apply to the modern digital economy, given the way new technologies have dissolved many traditional ways of conducting business The book would dispel that notion for you completely.The authors here offer a structured framework to help the reader navigate across the key new tech trends, and a comprehensive analysis of their commercial successes in the context of existing economic theories In a nutshell, this book could be considered a It is easy to think that old economic principles no longer apply to the modern digital economy, given the way new technologies have dissolved many traditional ways of conducting business The book would dispel that notion for you completely.The authors here offer a structured framework to help the reader navigate across the key new tech trends, and a comprehensive analysis of their commercial successes in the context of existing economic theories In a nutshell, this book could be considered a blend of computer science, microeconomic theories and management 101 for those who want to know how best to position their careers amidst these disruptive technologies.The most unique part of the book of for me and I have read a good number of similar tech business titles is its ability to marry economic theories with the successes of these new technologies, particularly in the platform business space Why has that worked and why so well Some of the concepts highlighted include free, perfect and instant distribution think Spotify , network effects think Facebook, Whatsapp , compliments think free Apps that boost value of smartphones , price elasticities and the economics of two sided networks think Uber and AirBnb , and switch cost think Apple iOS While many of these business cases are well known, the perspective provided here are both refreshing and insightful.Each chapter ends with an executive summary of key points discussed, and a list of questions designed to make readers think through how to incorporate the new insights into their life design and work, in order to maintain a competitive edge in this knowledge economy I find that to be excellent and highly practical I would recommend this book to anybody from youngsters seeking answers to the direction for their career development, to managers and leaders responsible for their organizational strategy.The only drawback that prevented this book from being a 5 star is the style of the writing, which is dense and almost purely factual which is also fair given it s positioned as a guide textbook As informative and useful as the content is, it lacks humour and a narrative so one needs a certain amount of determination and focus to get to the end

  10. Douglas Douglas says:

    I have the good Fortune of thinking about the future and the implications of technology professionally Frankly, at this stage of my life, these thoughts are woven into my DNA and all consuming My only escape is a good non tech book.So, if you re a curious nerd this and everything written by the authors is a must read, ponder, and apply.

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