tv George Gilder Life After Google CSPAN August 12, 2018 10:00pm-10:31pm EDT
as a result there's been a steady shrinkage of the stock markets only half as many shared, half as many public companies and a 90% drop in the number of initial public offerings and china now has many more than we do and they are close to the levels of venture capital and the solution is to get a new economy and world with new money and intranet architecture, new security, new privacy and new property.
you form your own data. >> we will get to the more recent book in just a minute. your last book was about that -- bitcoin. >> it instigated i think bitcoin itself faces a crisis and a love of big holders are going to have fundamental flaws in the model in order to carry this currency forward as a substitute for the goal which he thought he was inventing a substitute for goals
the crucial dimension. gold doesn't have a calf -- cap. it's still aware of the private key and bitcoin is gone forever. so the various walls things may get an adequate and the crucial issue for the future is recapturing the initial goal which was to create a substitute for gold. >> explained to us once again what is a blog chain?
>> it is a system lecture ledger that results in property or credentials or whatever it is a, facts, truth. rather than putting them in a central database somewhere and defending them with firewalls and other defenses it distributes them in the network and publishes it so of all the transactions published across the network unless you can take control of the network, you
can't reverse order .-full-stop by or manipulate a ballistic transactions. and bitcoin convert of a blog chain into money by seeing that if you have a list of transactions that is completely reliable and goes back to the first transaction in the currency you essentially have a monetary system. the difference is in the prices can in fact be allocated to the various participants in the economy. >> host: as we talk about the economy and economics, google is a big bargain for consumers, isn't it? >> this is a great fallacy because prices exist for a
reason. they bring information to consumers to evaluate different products in accordance with the measuring of money which as i explain it is based on the scarcity of time. i am time is what remains scarce when everything else remains abundant. money condé in the scarcity principle into economics is ultimately based on the scarcity of time. what google does is reach past your wallet and disdains your money and work and takes your time directly. in an economy without money it
is essentially ruled by power and real-time but it's running out for google. now people 80 hours a week on their smart phones, time is running out. >> dot also, make that connection for us. >> when a technology is no longer serving its customers, indiana and it fails to, and google has an advertising model which depends on collecting data from millions of customers and
that's why why its free accounts to capture the data of all of its customers and to transform that data into a perfect guide for advertising. google knows what you want even before you know it yourself and the advertiser can't turn down that deal, but at a certain point when everything is free to, there is the way the advertiser can make money and contends to become strained. but it is in crisis today. they are at the top of their game, but digital equipment and ibm were dominant forces in the previous era and a similarly, google and facebook and all these companies are dominant,
but they have a fundamental flaw in the escaping the obligations of security and liabilities to real customers and the transmission of real information and marketplaces by their strategy free. as sergei was the author of insight he said what happens if everything is free? what we discover is we win all of the market, we win the entire market. now, you can't compete with free. it relieves you of the burden of protecting data because if it is free, the hackers were so eager
to steal free goods. they are already available. >> what is the danger and google knowing you are a runner and write books and you are a venture capitalist? guest co. i'm not a privacy paranoid. i don't worry about google or facebook or any of these companies knowing facts about me. however, the eye of eyes want to master my data. i want to own my own data creation content. google has about 55% of all music revenues from or music from market share in youtube but
only pays about 13% of the royalties. it's the people who produce the content that have to mediate through advertisers and that model exploits the producers of the actual content as the foundation of the future. >> but isn't that just smart business? >> they enjoyed a huge bonanza for the second richest company in the world by giving things away for free but the model is coming to an end. >> host: what is going to be the downfall of the model packs
>> guest: one is based on the data they know that there's a fundamental flaw in the big data machine learning philosophy which is the heart of the business plan. they believe that human beings no longer have a role in this world but they are creating, that ai and machine learning and usurp the human mind and they believe their technology is the ultimate technology. it's the final thing is their technology. and i see that this is the
return of the old marxist fallacy. karl marx believed that the industrial revolution along with dark satanic mills and the turbines and the early industrial age was to solve the human productivity problem forever so that in the future the challenge of economics would be distributing wealth rather than generating it. so, marx believed that his technology was the ultimate technology. now the google people imagine that the robotics is the ultimate technology of this age but they can't even solve their security problem.
they've created a cloud in which all the money flows to the top and impoverishes the network and this is the security flaw in the critical path and vulnerability. >> so what is the solution plaques >> the blog chain distributed a return of the cloud, dissolution of the walled gardens of apple and amazon and google and facebook and around the world the chinese communist rulers, whatever. they all have their own internet now and that model is not
sustainable, so we need a new intranet but once again endows the individual with control of their own facts and their own content and that is accomplished through this cryptographic revolution and they got some ideas with life after google. >> host: you talk about this, but the internet is kind of a benign thing and the way we use it, isn't it? it's not really hurting us. >> guest: it was completely benign when it was used for e-mail communications and among
academics and bulletin boards and newsgroups and the initial uses of the distributed internet for the benign but as soon as it became the center of the world's transaction economy, then security became a central factor , and to solve the security problem, each of the internet companies one after another created its own silo, its own walled garden and implemented in its own cloud. and this broke up the internet and resulted in the central sensitive data that was entailed in conducting transactions across the net so the internet
filled with usernames and passwords and pins and mother's maiden names in all these fingerprints and iris scans and all these personal data have had to be centralized in these clouds and gardens but each of these companies imagined it was safe, but it's not safe. it tells you where all the sensitive data is and where to go to find the jewels. so, we now have this system with very little security where millions of passwords get lost
every few weeks and where now we are in households and reach beachwear ads that are supposedly adds that everyone really knows that they are minuses that come just the internet so we need a new intranet architecture. security is not an after-the-fact or a videogame with swat teams to enforce it as google imagined. security is an architecture and the architecture of security is double chain and a number of other cryptographic systems for
the candidates to replace this intranet where all the power and money rises to the top of the block stack at the bottom, where each person controls their own data and identity and content and creativity. >> host: do you use google? >> guest: i use it obsessively. i couldn't have written this book without it. this book is a celebration of google. it's one of the greatest transformative companies in all history, but they got infatuated with their own technology. now imagine it's almost a religious revelation that's going to end the whole human creative endeavor while they fly off to a satellite somewhere leaving the rest of the world to
subsist on guaranteed annual incomes dispersed from the final machine of artificial intelligence. >> host: did you have to get permission to use the logo? >> guest: the lawyers figured it out. >> host: because it is different colors and upside down? >> guest: it's different. we are claiming it is different. [laughter] i don't know. there've been lots of legal involvement. >> host: what is your next book about? >> guest: carver mead is one of the great scientists of our era. he was one of the first people in a microchip revolution in a
book i wrote called microcosm and he went on to do the research for moore's law and the name moore's law. carver has been my counsel for decades, and he's got lots of ideas for the future of technology. it's not necessarily going to be based on if you want to have intelligence that scott to be carbon. you can do it in silicon. >> host: as always, thanks for talking with us on booktv. >> guest: it's great to be here. thank you. i've always appreciated you. >> booktv visited capitol hill to ask members of congress what they are reading this summer. >> right now i am reading courage and consequence written
by karl rove. i'm only about halfway through right now, but it focuses on the sort of political strategies of how to be sort of propelled george bush into a position where he can run for governor and when an aide race that was determined to be not winnable, but of course they proved that wrong. and then after that, the political strategy in moving him from the governor's office of texas to a candidate for eventually becoming president of the united states. it starts out with a description of karl rove's personal life and how he became involved in politics and the sum of his ups and downs and the beginning of his career, so i find very
fascinating. i like to read books that are factual. i'm not a fiction reader. i like to read of history and real people and events. >> you've read a couple of books on your favorite presidents. do you care to talk about those? >> guest: in the hispanic a hispanic i am in a blink in fan and i like the idea of bringing those. mr. lincoln is famous for bringing some of his enemies into his cabinet, and it's a fascinating story how he was not able to run the country and the courage that it took to move through the civil war. another favorite of mine is teddy roosevelt so this is just one example of the books i've read. there've been many. this one is special because i
happened to visit with teddy roosevelt. the fourth of. like his ancestor, he was interested and involved in the environment, so it's also a as i met him and learned about teddy roosevelt and the passion he had for the environment it was interesting to see how that's passed down from generation to generation so that was a pleasure to meet with teddy roosevelt. >> now you've authored a book and it goes to charity. >> yeah. so, i think this book came out in 2004. i was a homicide detective in the early '80s and became a lead detective in an agency called the green serial murder
case. over a 19 year span, this -- am going to call him the devil of a human a monster of a human being -- took the lives of somewhere between 60 to 70 people. he pled guilty and they finally caught him through dna and microscopic evidence. he claimed guilty to 49 murders and we closed 51 cases, so there were a couple that we didn't have all the evidence we needed to charge him with, but we knew he had committed those, so we closed 51 murder cases. this book describes in the beginning a little bit of my childhood, a little bit of my early life and the struggles that i had growing up. some of those struggles are described in the book mostly focused on the investigation of
the murders and the day-to-day activity and task force and the team involved over the years for a tremendous, tremendously talented and committed people from detectives to volunteers, scientists, civilian employees who entered data. this is before the era of computers so i'm very proud to say that this book all the proceeds go to pediatric interim care centers and they are known for their ability to take in drug addicted babies and put them through treatment withdraw from those drugs and get them into foster homes or adoptive homes are back with their
biological parents. two of my grandchildren are from the pediatric center and they were busted by my daughter tabitha and her husband. at three months old each, and now at 16 and 15 they are doing awesome. so all of the proceeds from the book go to this. and a special at college apology to the family of the victims who lost their daughters and a special thanks and recognition to those that stayed with theou case for so long to catch the f. monster that did this. the k >> booktv wants to know what yop are reading.
what's made us the most successful nation in the history of the world as i think most of you probably know capitalism has created more wealth and created across many an any other in human history and a perfect example of that is the united states. the democrats however have seized upon the millennialist affinity for socialism. while bernie sanders didn't win the election as a note she didn't even get the nomination, hillary clinton got the nomination. keep in mind a lot of people think with justification hillary clinton got the nomination because debbie wasserman schultz and the dnc fixed the primary so we really don't know who would have won but she tried to move further left to appeal and that didn't work although they certainly thought it would and
donald trump was elected the president of the united states and thank god the american dream still has some life left in it. but it's good to keep in mind a lot of quotes from ronald reagan, but particularly when i'm about to repeat his freedom is always a generation away from extinction. and if you look at this generation we are dealing with now, maybe we have something to be worried about. poll after poll tells us that millennialist view socialism favorably and capitalism less favorably. [inaudible conversations] let's do a test to make sure the people in the back can