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tv   George Gilder Life After Google  CSPAN  August 26, 2018 9:34am-10:01am EDT

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things like democrat -- demographics. the job was under class and concerns around productivity. also something that was never discussed. these are all long-term problems but yet the people who are charged with overseeing the regulatory and policy environment are short-term. i thought this mismatch between the long-term problems and short-term political frame is something that had not been fully explored. i don't feel the potential solution to this mismatch. this is part of the liberal system.
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>> all previous afterwards are available to watch online at booktv .org. >> once a year we get to talk to you here at freedom fest in las vegas about your latest book. you write a book per year. >> i have written 20. i spent a lot of time as a venture capitalist. i learned the para -- it's kind of frozen today. you know, the number of public companies on the stock market has declined 50, 60 percent
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over the last few decades. >> why is that? >> there are no ipos, initial public offering, the administrative state has made it so complex to be a public company that small companies can't really do it. they aim to be absorbed by the bang of facebook, amazon, google, apple. >> netflix. >> so, they are all these unicorns. this company in the past in the office of the big companies.
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as a result steady shrinkage of the stock market. china now has many more ipos then we do. it's a real crisis of the economy. the solution is what i stated. when everything opens up again and we get a new economy. new world with new money. new internet architecture. new security. new privacy. new property. you know, you own your own data again. >> we'll get into life after
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google in a minute. your last book was about bitcoin. are you still a fan? >> i'm still a fan of bitcoin. the technology that bitcoin introduce. i'm a fan of the revolution and instigated. i think bitcoin itself faces a crisis. a lot of big holders of bitcoin are going to have to confront fundamental flaws in the model in order to carry this currency forward as a real substitute for gold which is what he thought he was inventing. a substitute for gold. it has since turned out that bitcoin lacks dimensions that
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gold possesses. gold doesn't have a cap. when you lose a nugget of gold it's still there. you lose a private tee and bitcoin is gone forever. the important issue for bitcoin in the future is recapturing the initial goal of the creator which was to create a substitute for gold. >> explain to us once again, this plays out in life after google what's a blockchain? >> a blockchain is a system as a ledger.
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rather then putting on the ledger which is all results of transactions or a list of titles of property or a list of credentials. whatever it is, facts. it's rather then protecting them by putting them in a central database somewhere. then defending them with a lot of firewalls and other defenses. a blockchain distributes them across the entire network and publishes them. all of the transactions are publicked across the whole network. unless you take control of the network you can't reverse or falsify or manipulate the list
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of transactions. bitcoin converted a blockchain 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 have essentially a monetary system. the differences and prices in bitcoin can in effect can be allocated to the various participants in the bitcoin economy. >> okay, google is free. this is it's great fallacy. prices exist for a reason. they bring information to consumers. they can evaluate different
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products in accordance with the measuring stick of money. i explain this in life after google money is essentially based in the scarcity of time. time is what remains scarce when everything else becomes abundant. time remains scarce. money conveying the scarcity principal in economics is ultimately based on the scarcity of time. what google does is reach past your wallet, it holds your money and worth. an economy without money is essentially an economy ruled by power and realtime.
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time is running out for google. now people, you know, 80 hours a week or something on their smart phones is millennial or whatever. time is running out for google. >> how so, make that connection for us? >> because when people -- when a technology is no longer severing it's customers in the end it fails. google has an advertise model which depends on collecting data from millions of customers free. that's why all of it's goods if free. they would like to capture all of the data of all it's
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customers and use it as a perfect guide. google knows what you want before you know it yourself. the advertiser can't turndown that deal. at a certain point when everything is free there is a way the advertiser can make money that's constrained. google's free world is really in crisis today. it's not visibly in crisis because they are at the top of their game. digital equipment and ibm were dominant forces. similarly, google and facebook and all of these companies are dominant. they have a fundamental flaw of escaping the obligations of
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security and liabilities to real customers and the transmission of real information and real marketplaces by their strategy of free. sergei was the author with insight. what happens if everything is free. what we discover is we win all of the market. you can't compete with free. >> what is the danger in
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google knowing you are a venture capitalist. they know that about you. >> i'm not a privacy paranoid. i don't worry about google or facebook or any of these companies knowing facts about me. however, i think that -- i want my -- i want to master my data. i would like to own my own data, my own creations and content. google has about 55% of all music revenues from market share and you youtube. it only pays about 13% of all
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of the royalties. it's really the people who produce the content. they have to mediate it threw advertisers. this is the foundation of google future. >> isn't that smart business? >> it's smart business and they have enjoyed a huge banana -- bananza. they are the second richest company because they have given things for free. >> what will be the downfall? >> one is based on big it data. they really know that there is
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flaw in big data, machine learning, a.i., philosophy which was the heart of the google business plan. they believed that human beings no longer have a real role in this world that they are creating. that a.i. and machine learning can replace the human mind. they believe that their technology is really the ultimate technology. it's is final thing, it's their technology. i see that this is a return of the old marks fallacies.
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carol marks believes the san satanic millions and turbines and the early industrial age was the stalls of human productivity problem forever. in the future the challenge of economics would be distributing wealth rather then generating it. marks believes that his technology was the ultimate technology. the google people image machine learning and a.i. is the ultimate technology of this age. they can't even solve the security problem. i mean, they have created a pourous cloud in which the money floats to the top and
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improvishes the network. there is a security flaw. this is another critical path of google.
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and that is accomplished through this cryptographic revolution that was initiated by bitcoin and by others. >> you talk about this but the internet is a benign thing and it's the way we use it, isn't it? it's not really hurting us. >> i think the internet was completely benign when it was used chiefly for e-mail and communications among academics and bulletin boards and newsgroups and, you know, the
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initial uses of the distributed free internet were benign. but as soon as the internet became the center of the world's transactional in economy, then security became a central factor. to solve the security problem, each of the big internet companies, one after another created on siloed, its own walled garden, its own implemented in its own cloud. this broke up the internet, and also resulted in this centralization of all this sensitive data that was entailed in conducting transaction across the net. and so the internet filled with usernames and passwords and
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mothers maiden names and all these fingerprints and all these personal data had to be centralized in these clouds, in these walled gardens. each of these companies imagine that centralization was safe, but centralization is not safe. it tells you what all the sensitive that it is. it tells the hacker where to go to find them, the jewels. and so we know how this porous system with very little security where millions of passwords get lost every few weeks, and where
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malware and household and leach aware and adds that are supposedly adds but everyone knows they are really minuses, all congested the internet. and so we need a new internet architecture. security is not an after-the-fact. it's not a videogame. with swat teams to enforce it, as google imagines. security is an architecture, and the architecture of security is the blockchain. and a number of other cryptographic systems are emerging as candidates to replace this porous internet where all the power and money
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rises to the top with block stack at the bottom were each person control their own data, the own identity, their own content, their own creativity. >> do you use google? >> i use google obsessively. i couldn't have written this book without google. this book is a celebration of google. google has reached one of the great threat from the companies in all history, but they got infatuated and their own technology, and now imagine that it's almost a religious revelation that's going to end all human creative endeavor while they fly off to settle it somewhere with elon musk and leaving the rest of the world to subsist on guaranteed annual incomes dispersed from the final
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machine of artificial intelligence. >> george gilder, did you have to get permission to use the google logo? >> it's not the google -- the lawyers figured it out. >> because it's different colors and it's upside down? >> it's different. i don't know, we are claiming it is different here i don't know. there's been lots of legal involvement and that innocent jacket. >> what is your next book about? >> carver mead is one of the great scientists of our era. he was one of the first people in the microchip revolution. i wrote about him and a book called microcosm, and he went on
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to both 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 actually have intelligence, it's got to be carbon. you can't do it in silicon. >> george gilder, as always, thanks for talking with us on booktv. >> it's great to be here. thank you. always appreciate your brilliance. >> tv recently visited capitol hill to ask members of congress what they are reading this summer. >> senator murkowski, what's on your summer reading list? >> i don't know if i have a list but i can tell you what is on my nightstand right now, and it's a
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little awkward because it's all starting to tip over. i have the tendency to take on the books that i might give any officer with the one next to because i want to read them later. i'll do a couple chapters here and a couple chapters there. the base of the nightstand is the biggest book and that is master of the senate. i felt that on my nightstand for about, i don't know, half a dozen years. robert caro. and that's a tough slog as you know but i enjoy that. i have pope francis encyclical on care of the common home. my little book on climate change there. i have a reflection of prayers. i have kind of a joke beach novel. i don't even know who the author is on that. i have a book that was written by a friend called how to repair a piano bench, which is kind of,
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just kind of come at a self-help that are reflected one. what else do i have? on the nightstand right now. oh, i just finished one, i just finished one by a priest in los angeles who ran a home for young people who have just been released from prison, kind of reentry, and i got his second book that is sitting there as well. it's kind of a random hodgepodge of what do i feel like tonight, and how tired and my? isn't one of wha want to think t and reflect, or save for tomorrow? it's a big list. either way, i have all of the so
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supreme court opinions. me? youon't but those by my bedside though. >> booktv wants to know what you're reading.rs. send us your summer reading list. list. booktv on c-span2, television for serious readers. [applause] >> hi. thank you all for joining us tonight. i'm going to everyone get settled for a second here. thank you all for joining us tonight for the special event conversation with kai green, marlon peterson and mychal denzel smith. as the booksellers who can put antenna and pick books and authors we featured our discovery writers program, they will take the truth about darnell moore is beautiful and deeply memoir, "no ashes in the fire."

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