Machine, Platform, Crowd: Harnessing Our Digital Future
updated 9d ago
updated 9d ago
One of the things our economy needs most are people who specialize in inventing these new jobs. This task requires designing and implementing new combinations of technologies, human skills,
MargaretC added 5mo ago
using technology to complement human labor is Iora Health, which (as we discussed in Chapter 5) employs health coaches.
MargaretC added 5mo ago
pure engineering, aided by statistical modeling based on gigantic amounts of raw data. . . . I not only didn’t
MargaretC added 5mo ago
supervised learning techniques, and a few have used reinforcement learning (for
MargaretC added 5mo ago
The marvel [of prices] is that in a case like that of a scarcity of one raw material, without an order being issued, without more than perhaps a handful of people knowing the cause, tens of thousands of people whose identity could not be ascertained by months of investigation, are made to use the material or its products more sparingly; i.e., they
... See moreMargaretC added 5mo ago
Markets are therefore called “emergent” systems: prices emerge from all members’ interactions and can’t be observed just by looking at a few.
MargaretC added 5mo ago
Instead of filing for patents, they uploaded the plans for Robohand’s parts to Thingiverse, a site where the crowd shares 3D printing files.
MargaretC added 5mo ago
network effects (the more good investment algorithms it holds, the more capital it will attract; the more capital it holds, the more algo traders it will attract),
MargaretC added 5mo ago
Someone well versed in transaction cost economics and the realities of incomplete contracting might have predicted an outcome like this.
MargaretC added 5mo ago