data is not the new oil

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Four Battlegrounds by Paul Scharre

2021 United States Capitol attack, 3D printing, active measures, activist lawyer, AI winter, AlphaGo, amateurs talk tactics, professionals talk logistics, artificial general intelligence, ASML, augmented reality, Automated Insights, autonomous vehicles, barriers to entry, Berlin Wall, Big Tech, bitcoin, Black Lives Matter, Boeing 737 MAX, Boris Johnson, Brexit referendum, business continuity plan, business process, carbon footprint, chief data officer, Citizen Lab, clean water, cloud computing, commoditize, computer vision, coronavirus, COVID-19, crisis actor, crowdsourcing, DALL-E, data is not the new oil, data is the new oil, data science, deep learning, deepfake, DeepMind, Demis Hassabis, Deng Xiaoping, digital map, digital rights, disinformation, Donald Trump, drone strike, dual-use technology, Elon Musk, en.wikipedia.org, endowment effect, fake news, Francis Fukuyama: the end of history, future of journalism, future of work, game design, general purpose technology, Geoffrey Hinton, geopolitical risk, George Floyd, global supply chain, GPT-3, Great Leap Forward, hive mind, hustle culture, ImageNet competition, immigration reform, income per capita, interchangeable parts, Internet Archive, Internet of things, iterative process, Jeff Bezos, job automation, Kevin Kelly, Kevin Roose, large language model, lockdown, Mark Zuckerberg, military-industrial complex, move fast and break things, Nate Silver, natural language processing, new economy, Nick Bostrom, one-China policy, Open Library, OpenAI, PalmPilot, Parler "social media", pattern recognition, phenotype, post-truth, purchasing power parity, QAnon, QR code, race to the bottom, RAND corporation, recommendation engine, reshoring, ride hailing / ride sharing, robotic process automation, Rodney Brooks, Rubik’s Cube, self-driving car, Shoshana Zuboff, side project, Silicon Valley, slashdot, smart cities, smart meter, Snapchat, social software, sorting algorithm, South China Sea, sparse data, speech recognition, Steve Bannon, Steven Levy, Stuxnet, supply-chain attack, surveillance capitalism, systems thinking, tech worker, techlash, telemarketer, The Brussels Effect, The Signal and the Noise by Nate Silver, TikTok, trade route, TSMC

sh=10eefed73045; Adeola Adesina, “Data Is the New Oil,” Medium, November 13, 2018, https://medium.com/@adeolaadesina/data-is-the-new-oil-2947ed8804f6; Will Murphy, “Data Is the New Oil,” Towards Data Science, May 7, 2017, https://towardsdatascience.com/data-is-the-new-oil-f11440e80dd0; Giuliano Giacaglia, “Data Is the New Oil,” Hackernoon, February 9, 2019, https://hackernoon.com/data-is-the-new-oil-1227197762b2. 20data-is-not-the-new-oil articles: Antonio Garcia Martinez, “No, Data Is Not the New Oil,” Wired, February 26, 2019, https://www.wired.com/story/no-data-is-not-the-new-oil/; Bernard Marr, “Here’s Why Data Is Not the New Oil,” Forbes, March 5, 2018, https://www.forbes.com/sites/bernardmarr/2018/03/05/heres-why-data-is-not-the-new-oil/?sh=4b277fa13aa9; Samuel Flender, “Data Is Not the New Oil,” Towards Data Science, February 10, 2019, https://towardsdatascience.com/data-is-not-the-new-oil-bdb31f61bc2d; John Thuma, “Data Is Not the New Oil!” fisglobal.com, July 13, 2020, https://www.fisglobal.com/en/insights/what-we-think/2020/july/data-is-not-the-new-oil; Justin Sherman and Samm Sacks, “The Myth of China’s Big A.I.

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The search for historical analogies to understand the geostrategic significance of digital power, such as data, is understandable, even if such analogies are bound to be imperfect. “Data is the new oil” became a common refrain for a brief period, spawning articles and op-eds in outlets such as Wired, Forbes, and the New York Times. (Not long after came a counter-wave of data-is-not-the-new-oil articles, including in many of the same outlets.) Data, of course, is not oil. But it can be a useful metaphor in certain ways. Not only are data and oil both valuable, they are both critical inputs into the technological revolutions of their age. Oil is used to fuel engines that can be used for mechanical work.

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fisglobal.com, July 13, 2020, https://www.fisglobal.com/en/insights/what-we-think/2020/july/data-is-not-the-new-oil; Justin Sherman and Samm Sacks, “The Myth of China’s Big A.I. Advantage,” Slate, June 13, 2019, https://slate.com/technology/2019/06/data-not-new-oil-kai-fu-lee-china-artificial-intelligence.html. 20China is “the Saudi Arabia of data”: “China May Match or Beat America in AI,” The Economist, July 15, 2017, https://www.economist.com/business/2017/07/15/china-may-match-or-beat-america-in-ai; Kai-Fu Lee, AI Superpowers: China, Silicon Valley, and the New World Order (Boston: Mariner Books, September 1, 2018), 55, https://www.amazon.com/AI-Superpowers-China-Silicon-Valley/dp/132854639X. 20data is not a fungible resource: Husanjot Chahal, Ryan Fedasiuk, and Carrick Flynn, Messier Than Oil: Assessing Data Advantage in Military AI (Center for Security and Emerging Technology, July 2020), https://cset.georgetown.edu/publication/messier-than-oil-assessing-data-advantage-in-military-ai/. 21surveillance capitalism: Shoshana Zuboff, The Age of Surveillance Capitalism: The Fight for a Human Future at the New Frontier of Power (New York: PublicAffairs, January 15, 2019), https://www.amazon.com/Age-Surveillance-Capitalism-Future-Frontier/dp/1610395697. 22900 million internet users as of 2020: “Number of Internet Users in China from 2008 to 2020,” Statista, 2021, https://www.statista.com/statistics/265140/number-of-internet-users-in-china/. 22750 million internet users in 2020: The Indian Telecom Services Performance Indicators: April–June, 2020 (Telecom Regulatory Authority of India, November 9, 2020), https://trai.gov.in/sites/default/files/Report_09112020_0.pdf. 22400 million users: “Internet access,” in “Digital economy and society statistics—households and individuals,” Eurostat, September 2020, https://ec.europa.eu/eurostat/statistics-explained/index.php/Digital_economy_and_society_statistics_-_households_and_individuals#Internet_usage. 22290 million internet users: “Digital Population in the United States as of January 2021,” Statista, February 2021, https://www.statista.com/statistics/1044012/usa-digital-platform-audience/. 22Facebook has 2.7 billion users: Facebook, “Facebook Reports Third Quarter 2020 Results,” news release, October 29, 2020, https://investor.fb.com/investor-news/press-release-details/2020/Facebook-Reports-Third-Quarter-2020-Results/default.aspx. 22YouTube over 2 billion: “YouTube for Press,” YouTube Official Blog, n.d., https://blog.youtube/press/. 22WeChat’s 1.2 billion: Monthly active users as of 30 September 2020.

Leadership by Algorithm: Who Leads and Who Follows in the AI Era? by David de Cremer

"Friedman doctrine" OR "shareholder theory", algorithmic bias, algorithmic management, AlphaGo, bitcoin, blockchain, business climate, business process, Computing Machinery and Intelligence, corporate governance, data is not the new oil, data science, deep learning, DeepMind, Donald Trump, Elon Musk, fake news, future of work, job automation, Kevin Kelly, Mark Zuckerberg, meta-analysis, Norbert Wiener, pattern recognition, Peter Thiel, race to the bottom, robotic process automation, Salesforce, scientific management, shareholder value, Silicon Valley, Social Responsibility of Business Is to Increase Its Profits, Stephen Hawking, The Future of Employment, Turing test, work culture , workplace surveillance , zero-sum game

As Kevin Kelly in his book, The Inevitable, notes: “This is not a race against the machines … This is a race with the machines.”¹⁰⁵ * * * 89 Tarnoff, B. (2017). ‘Silicon Valley siphons our data like oil. But the deepest drilling has just begun.’ The Guardian. Retrieved from: https://www.theguardian.com/world/2017/aug/23/silicon-valley-big-data-extraction-amazon-whole-foods-facebook 90 Thorp, J. (2012). ‘Big data is not the new oil.’ Harvard Business Review. November 30. Retrieved from: https://hbr.org/2012/11/data-humans-and-the-new-oil 91 Lapuschkin, S., Wäldchen, S., Binder, A., Montavon, G., Samek, W., & Mueller, K.-R. (2019). ‘Unmasking clever Hans predictors and assessing what machines really learn.’ Nature Communications, 10, 1096. 92 Editorial (2017).

The Capitalist Manifesto by Johan Norberg

AltaVista, anti-communist, barriers to entry, Berlin Wall, Bernie Sanders, Big Tech, Boris Johnson, business climate, business cycle, capital controls, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, carbon tax, Charles Babbage, computer age, coronavirus, COVID-19, creative destruction, crony capitalism, data is not the new oil, data is the new oil, David Graeber, DeepMind, degrowth, deindustrialization, Deng Xiaoping, digital map, disinformation, Donald Trump, Elon Musk, energy transition, Erik Brynjolfsson, export processing zone, failed state, Filter Bubble, gig economy, Gini coefficient, global supply chain, Google Glasses, Greta Thunberg, Gunnar Myrdal, Hans Rosling, Hernando de Soto, Howard Zinn, income inequality, independent contractor, index fund, Indoor air pollution, industrial robot, Intergovernmental Panel on Climate Change (IPCC), invention of the printing press, invisible hand, Jeff Bezos, Jeremy Corbyn, job automation, job satisfaction, Joseph Schumpeter, land reform, liberal capitalism, lockdown, low cost airline, low interest rates, low skilled workers, Lyft, manufacturing employment, Mark Zuckerberg, means of production, meta-analysis, Minecraft, multiplanetary species, Naomi Klein, Neal Stephenson, Nelson Mandela, Network effects, open economy, passive income, Paul Graham, Paul Samuelson, payday loans, planned obsolescence, precariat, profit motive, Ralph Nader, RAND corporation, rent control, rewilding, ride hailing / ride sharing, Ronald Coase, Rosa Parks, Salesforce, Sam Bankman-Fried, Shenzhen was a fishing village, Silicon Valley, Simon Kuznets, Snapchat, social distancing, social intelligence, South China Sea, Stephen Fry, Steve Jobs, tech billionaire, The Spirit Level, The Wealth of Nations by Adam Smith, TikTok, Tim Cook: Apple, total factor productivity, trade liberalization, transatlantic slave trade, Tyler Cowen, Uber and Lyft, uber lyft, ultimatum game, Virgin Galactic, Washington Consensus, working-age population, World Values Survey, X Prize, you are the product, zero-sum game

Between different spheres of society, there must be a certain healthy antagonism so that they balance each other in an open, decentralized system. When big government and big business team up, the small players will lose out. Data is the new sand One reason why lots of people think the big platforms are unbeatable is the misconception that data itself is what is valuable. However, data is not ‘the new oil’ but the new sand. Sand is not very valuable in itself. But if you refine it properly (to silicon), you can create the most powerful productive power we have (the data chip). So it is with data. Since the breakthrough of the web and digitization, we have been living with a surplus of information, just about everywhere.

The Master Algorithm: How the Quest for the Ultimate Learning Machine Will Remake Our World by Pedro Domingos

Albert Einstein, Amazon Mechanical Turk, Arthur Eddington, backpropagation, basic income, Bayesian statistics, Benoit Mandelbrot, bioinformatics, Black Swan, Brownian motion, cellular automata, Charles Babbage, Claude Shannon: information theory, combinatorial explosion, computer vision, constrained optimization, correlation does not imply causation, creative destruction, crowdsourcing, Danny Hillis, data is not the new oil, data is the new oil, data science, deep learning, DeepMind, double helix, Douglas Hofstadter, driverless car, Erik Brynjolfsson, experimental subject, Filter Bubble, future of work, Geoffrey Hinton, global village, Google Glasses, Gödel, Escher, Bach, Hans Moravec, incognito mode, information retrieval, Jeff Hawkins, job automation, John Markoff, John Snow's cholera map, John von Neumann, Joseph Schumpeter, Kevin Kelly, large language model, lone genius, machine translation, mandelbrot fractal, Mark Zuckerberg, Moneyball by Michael Lewis explains big data, Narrative Science, Nate Silver, natural language processing, Netflix Prize, Network effects, Nick Bostrom, NP-complete, off grid, P = NP, PageRank, pattern recognition, phenotype, planetary scale, power law, pre–internet, random walk, Ray Kurzweil, recommendation engine, Richard Feynman, scientific worldview, Second Machine Age, self-driving car, Silicon Valley, social intelligence, speech recognition, Stanford marshmallow experiment, statistical model, Stephen Hawking, Steven Levy, Steven Pinker, superintelligent machines, the long tail, the scientific method, The Signal and the Noise by Nate Silver, theory of mind, Thomas Bayes, transaction costs, Turing machine, Turing test, Vernor Vinge, Watson beat the top human players on Jeopardy!, white flight, yottabyte, zero-sum game

The most determined resistance comes from machine learning’s perennial foe: knowledge engineering. According to its proponents, knowledge can’t be learned automatically; it must be programmed into the computer by human experts. Sure, learners can extract some things from data, but nothing you’d confuse with real knowledge. To knowledge engineers, big data is not the new oil; it’s the new snake oil. In the early days of AI, machine learning seemed like the obvious path to computers with humanlike intelligence; Turing and others thought it was the only plausible path. But then the knowledge engineers struck back, and by 1970 machine learning was firmly on the back burner.

Greater: Britain After the Storm by Penny Mordaunt, Chris Lewis

"World Economic Forum" Davos, 2021 United States Capitol attack, 3D printing, accelerated depreciation, Ada Lovelace, Airbnb, banking crisis, battle of ideas, behavioural economics, Bernie Madoff, bitcoin, Black Lives Matter, blockchain, Bob Geldof, Boeing 747, Boris Johnson, Bretton Woods, Brexit referendum, British Empire, carbon footprint, Charles Babbage, collective bargaining, Corn Laws, corporate social responsibility, COVID-19, credit crunch, crowdsourcing, data is not the new oil, data is the new oil, David Attenborough, death from overwork, Deng Xiaoping, Diane Coyle, Donald Trump, Downton Abbey, driverless car, Elon Musk, en.wikipedia.org, experimental economics, failed state, fake news, Firefox, fixed income, full employment, gender pay gap, global pandemic, global supply chain, green new deal, happiness index / gross national happiness, high-speed rail, impact investing, Jeremy Corbyn, Khartoum Gordon, lateral thinking, Live Aid, lockdown, loss aversion, low skilled workers, microaggression, mittelstand, moral hazard, Neil Kinnock, Nelson Mandela, Ocado, off-the-grid, offshore financial centre, Panamax, Ponzi scheme, post-truth, quantitative easing, remote working, road to serfdom, Salesforce, Sheryl Sandberg, Skype, smart cities, social distancing, South China Sea, sovereign wealth fund, Steve Jobs, Steven Pinker, surveillance capitalism, transaction costs, transcontinental railway

v=GTG2VvvIs1o 23 https://www.newscientist.com/article/2110280-what-can-we-3d-print-everything-here-are-8-awesome-examples/ 24 https://all3dp.com/1/3d-printing-materials-guide-3d-printer-material/ 25 https://www.bbc.com/news/business-40189959 26 https://www.theguardian.com/business/2013/sep/10/banknotes-history 27 https://www.economist.com/leaders/2017/05/06/the-worlds-most-valuable-resource-is-no-longer-oil-but-data 28 https://www.wired.com/story/no-data-is-not-the-new-oil/ 29 https://datareportal.com/reports/digital-2019-global-digital-overview 30 https://www.oecd.org/internet/ascendancy-digital-trade-new-world-order.htm 31 https://e-estonia.com/solutions/e-governance/i-voting/ 32 https://www.cnbc.com/2020/11/19/Covid-drives-global-debt-to-a-new-record-high.html 33 https://money.cnn.com/2017/01/12/pf/americans-lack-of-savings/index.html 34 https://www.theguardian.com/money/2018/jan/25/uk-workers-chronically-broke-study-economic-insecurity 35 https://www.forbes.com/2009/11/03/capitalism-greed-recession-forbes-opinions-markets.html?

Rentier Capitalism: Who Owns the Economy, and Who Pays for It? by Brett Christophers

"World Economic Forum" Davos, accounting loophole / creative accounting, Airbnb, Amazon Web Services, barriers to entry, Big bang: deregulation of the City of London, Big Tech, book value, Boris Johnson, Bretton Woods, Brexit referendum, British Empire, business process, business process outsourcing, Buy land – they’re not making it any more, call centre, Cambridge Analytica, Capital in the Twenty-First Century by Thomas Piketty, Cass Sunstein, cloud computing, collective bargaining, congestion charging, corporate governance, data is not the new oil, David Graeber, DeepMind, deindustrialization, Diane Coyle, digital capitalism, disintermediation, diversification, diversified portfolio, Donald Trump, Downton Abbey, electricity market, Etonian, European colonialism, financial deregulation, financial innovation, financial intermediation, G4S, gig economy, Gini coefficient, Goldman Sachs: Vampire Squid, greed is good, green new deal, haute couture, high net worth, housing crisis, income inequality, independent contractor, intangible asset, Internet of things, Jeff Bezos, Jeremy Corbyn, Joseph Schumpeter, Kickstarter, land bank, land reform, land value tax, light touch regulation, low interest rates, Lyft, manufacturing employment, market clearing, Martin Wolf, means of production, moral hazard, mortgage debt, Network effects, new economy, North Sea oil, offshore financial centre, oil shale / tar sands, oil shock, patent troll, pattern recognition, peak oil, Piper Alpha, post-Fordism, post-war consensus, precariat, price discrimination, price mechanism, profit maximization, proprietary trading, quantitative easing, race to the bottom, remunicipalization, rent control, rent gap, rent-seeking, ride hailing / ride sharing, Right to Buy, risk free rate, Ronald Coase, Rutger Bregman, sharing economy, short selling, Silicon Valley, software patent, subscription business, surveillance capitalism, TaskRabbit, tech bro, The Nature of the Firm, transaction costs, Uber for X, uber lyft, vertical integration, very high income, wage slave, We are all Keynesians now, wealth creators, winner-take-all economy, working-age population, yield curve, you are the product

‘Datafication’ is the term used by Jathan Sadowski in his ‘When Data Is Capital: Datafication, Accumulation, and Extraction’, Big Data & Society, doi: 10.1177/2053951718820549. 19. Economist, ‘Data Is Giving Rise to a New Economy’, 6 May 2017. 20. K. Granville, ‘Facebook and Cambridge Analytica: What You Need to Know as Fallout Widens’, New York Times, 19 March 2018. 21. Economist, ‘Data Is Giving Rise to a New Economy’. See also T. Hale, ‘Data Is Not the New Oil’, 8 May 2019, at ftalphaville.ft.com. 22. We Are Social, ‘Digital in 2018’, January 2018, pp. 126, 128 – pdf available at digitalreport.wearesocial.com. 23. B. Fabo, M. Beblavy, Z. Kilhoffer and K. Lenearts, ‘An Overview of European Platforms: Scope and Business Models’, 2017, pp. 10–11 – pdf available at publications.jrc.ec.europa.eu. 24.