Comments
Transcript
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ASgoogle climategate... fake data used.
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AVIf you are an RIA or private client who has their account at Schwab, TD, Fidelity, IBKR, have you considered how your data is being used? Nothing in life is free and when you are not paying for the product, you are the product instead!
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DSJust another book promotion presentation. It could have been so much much better is if both sides were presented by Ms. Foroohar showing that we were the problem as well as we wanted something for free. DLS
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YBVery interesting. I don't think any politician would dare touch any of the big tech companies. They would be blamed for causing a collapse in the stock market that is just waiting to happen. The regulation will come only after the crash. Just like 2008. After the FAANGs drop 30%, it will be safe to regulate them.
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PWThey lost me when they said neoliberalism has replaced Keynes. Could make a better argument that Keynesianism is at least partly due to the current economic problems they describe. She describes some real issues with big tech but the generalizations (CEO short termism, for example) take away from what she is pushing.
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JLhahaha you lost me at video game addict. stupid statement. its called a past time.
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WPVincent is a world class interviewer!
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ALThese plugs for Realvision video services are ... Well ... Frequent. Not sure I'm going to buy video services. But maybe someone is. Would be happier if the ads would rotate, or I could ignore those always present ones for video. Maybe sell me some fund, trading platform or broker? Anything but video.
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MGA novel economic theory i find very impressive is " Field Theory of macroeconomics". It is rich and what is deducted in the Archiv.1407.6334 paper is amazing. If you have a physics background or some other higher math background i can only recommend the read.
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NRGreat video, more Rana please. Vincent Catalano is taking his place as one of the best RV interviewers, toguether with Mark Green and Roger Hirst.
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RTBtw... 20 years ago we thought the Sand Hill Road VCs and the tech startups had lost their minds for offering services at mass for an operating loss. If google charged $1/pa per users for each free service it offers... search, gmail, maps, cloud, android, voice, etc - Seems reasonable? You’ll conclude the developed world has subsidised developing ones through ads and tech ubiquity. Don’t worry, they don’t offer the developing world the same privacy privileges as westerners. As annoying and hypocritical these tech giants are, we shouldn’t dismiss all they say in their defence in it’s entirety.
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RTTraditional media will always have it in for the tech platforms for eating away at their lunch the past 20 years. One of your best interviewers. She’s very well read and informed, but I‘m left with the impression her book is a good summary of what has become an all too commonly held view - great journalism nevertheless in an era of fake sensationalism. Malcom Gladwell without the figures and stats. I didn’t learn anything particularly new or insightful from her interview that her own paper or the Economist regularly correspond on.
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TWExcellent interview, Rana is a very smart person.
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DPGreat interview. A book I expect to read soon. The discussion regarding how society should address or regulate surveillance capitalists is very important. Unfortunately, it's discussion society should have had about 20 years ago. It's too late. The thought that Google, FB, et al will allow themselves to be regulated, with rules with teeth, is unrealistic. There might be some superficial changes, but the new rules will be written by Google, FB, et al. United Health care wrote the ACA. Can't imagine this will be any different.
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BSWhat a shame that people no longer seem to take personal responsibility. Don't like all the incredible free stuff Google provides? Use another search engine (DuckDuckGo is one). Don't like your son's online/video game activity? Take the game away. Don't like Facebook gathering your private data? Get off FB! Government intervention is never the answer. She implies big tech needs regulation, but that never works (see 2008-2009 and the banks, which were heavily regulated). Regulation is never about making things better. Sure would be nice if RV could get some speakers on who advocate for freedom and personal responsibility rather than more regulation.
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NIEven if we passed laws protecting privacy, they would likely be as unenforced and ineffective as HIPAA. Not even a sitting President (Bill Clinton at the time) could get anyone in the US Federal government off their dead butt to enforce it. As consumers, we desperately need countermeasures because this genie isn't going back in the bottle. I go some distance in that direction on a personal level with multiple email addresses, multiple phones, et.al. but that's the market entrepreneurs should aggressively enter.
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WMA very worthwhile discussion about some big issues that concern us all, and not just as investors...
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RMWhen thinking about when will political paradigms change, I like the explanation of necessity explained by george clooney in the movie three kings about the gulf war. He asks what is the most important thing? Answer, necessity. Therefor, the applcation here is that things like politics don’t change at the first thought of idealism. Things resist change until necessity requires and breaks the hold of resistance.
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MWBitcoin fixes this 🚀
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RAExcellent interview. I know probably not for everyone, but reminds me of some of the “far reaching” more academic interviews from 3 or 4 years ago. This interview, IMO, represents the special “curation” factor that RV brings to the table. This material is just not something that I would have found on my own and I appreciate very much having been led to it. Some of these broader more academic discussions are great when they are sprinkled in and proportion is maintained. This one may be a bit controversial with the RV viewership, but I for one thoroughly enjoyed it—keep up the great curation.
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SSWhere is Grant Williams. Is he still involved actively with Real Vision or taking a back step?
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FFVincent, STOP TALLING!
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EKRead Shoshana Zuboff's book "The Age Of Surveillance Capitalism" as well to get the full picture. Or you can Google her (did I just say that? ) for podcasts and interviews.
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HCVince - there is NO statistically nexus between wildfires in CA and climate change - ZERO REPEAT ZERO. There is a SIGNIFICANT amount highly institutionalized studies, papers, writings, and books that intelligently dispel the notions of climate change. Not only does climate change not exist, but it is a fraudulent hijacking of the world politics and our economies. As news reporter you have question why was once called Global Cooling, then Global Warming and now its called Climate Change. Because it is cult and not real science.
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eaGreat that you're doing these interviews with journalists and others who have somewhat of an outsider's view on these issues. And good to see that Mr. Catalano seems to be growing into his role as an interviewer. Please keep it coming!
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ddat RV we pay and we are the product at the same time
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ddRV has been decaying very fast since the 2 week bitcoin week
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PGExcellent points on the definition of a monopoly and price vs. data. Great conversation! Let me guess her son's video game....Fortnite? That has thousands and thousands of kids hooked...
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RMGreat overview of the challenges created by big tech in protecting the markets and individual freedom.
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JHThis was fantastic - thank you. Please have Rana back again.
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IHA very important topic, yes it is a book plug, but on a topic that is super important.
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SS"If the Product is Free---You're The Product"
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NvWell summarized Rana. This is, and will be, a big focus area for 2020. Regulatory risk is not priced into big tech, at all. Seems obvious big tech is the new tobacco and Facebook will pay the biggest fines for many years to come.
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SKAnother (30 min) Book advert
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AMCheck out praxeology.