[1] https://nest.com/works-with-nest/
2 $3.2 billion
4 On Tesla cars features are regularly added via software updates.
An article describing a Gm vs. a Tesla recall:
6 http://www.apple.com/ios/health/
7 http://kk.org/books/the-inevitable/ - or if you prefer to get the message through a 14-minute TED-talk: https://www.ted.com/talks/kevin_kelly_how_ai_can_bring_on_a_second_industrial_revolution
9 In his book, “Makers”, Chris Anderson, succinctly states how atoms are becoming manifestations of bits, and substrates for processes run by software:
“In a sense, hardware is mostly software these days, with products becoming little more than intellectual property embodied in commodity materials, whether it’s the code that drives the off-the-shelf chips in gadgets or the 3D design files that drive manufacturing. And the more products become information, the more they can be treated as information, collaboratively created by anyone, shared globally online, remixed and reimagined, given away for free, or, if you choose, held secret. (In short, the reason atoms are the new bits is that they can increasingly be made to act like bits.)”
Chris Anderson, Makers: The New Industrial Revolution, Crown publishing 2014
11 http://online.wsj.com/articles/SB10001424053111903480904576512250915629460
http://www.econtalk.org/archives/2014/05/marc_andreessen.html
12 It’s hard to find exact numbers, but in mid-2016 Google was reportedly doing at least 5,5 billion Searches pr. day
http://searchengineland.com/google-now-handles-2-999-trillion-searches-per-year-250247
13 https://www.wired.com/insights/2012/05/amazon-hpc-cloud/
15 From an environmental perspective, the word “consumer” is problematic. The consumer belongs in the old linear paradigm of extracting resources and consuming them, by turning them into waste. In a circular economy, resources are not consumed, but merely used and sent on to the next link in the chain.
In contrast, in the circular economy, you use materials for a while, but they are not consumed in the sense that they are left as waste without value. Instead, the materials are passed on to others to use again for yet another purpose. Waste is re-purposed as new materials – like food for a new process. Consumption is merely use.
The circular economy is by necessity participatory and collective. You recognize that no consumption takes place in isolation – we are always interacting as part of a greater context, where everyone and everything is connected and interdependent. Humans influence the other parts of the ecosystem, and they influence us. We depend on all other living things – and the rest of life depends on us.
16 These and many other initial observations about moving towards a we-economy were presented in Charles Leadbeater’s excellent book, We-think. Mass innovation, not mass production.
http://charlesleadbeater.net/2010/01/we-think/
17 The idea of the long tail was originally coined by Chris Anderson to describe how the value chain is extending by making even very small providers part of the economy.
http://www.thelongtail.com/about.html
The case is described in more detail at: http://we-economy.net/case-stories/lego-ideas.html
19 Bloomberg largest companies by market capitalization: https://www.bloomberg.com/gadfly/articles/2016-08-02/tech-giants-form-fab-five-to-dominate-stock-valuation-chart
http://dogsofthedow.com/largest-companies-by-market-cap.htm
20 https://en.wikipedia.org/wiki/The_Nature_of_the_Firm
21 http://onlinelibrary.wiley.com/doi/10.1111/j.1468-0335.1937.tb00002.x/full
22 http://innovativemobility.org/wp-content/uploads/2016/07/Impactsofcar2go_FiveCities_2016.pdf
28 Independent work, Choice, necessity, and the gig economy (gig-economy hyphenated in body text), report by McKinsey Global Institute, Oct. 2016:
29 As Tim O’Reilly points out, it is likely that we will see a blending of professional and amateurs on the platforms of the sharing economy, similar to the development on YouTube. Initially, YouTube was a site, where anyone could share their videos and most of the content was indeed created by amateurs. Now, as YouTube has become one of main global media outlets, an increasing part of the content is produced by professionals and regular media companies. Likewise, a greater share of the rooms offered on Airbnb could belong to professionals or regular hotels.
https://medium.com/the-wtf-economy/networks-and-the-nature-of-the-firm-28790b6afdcc#.wzleffep4
30 https://www.theguardian.com/technology/2015/apr/03/how-much-musicians-make-spotify-itunes-youtube
31http://we-economy.net/what-is-the-we-economy/index.html
32 http://we-economy.net/what-is-the-we-economy/the-research-project/report.html
33 http://platformrevolution.com
One of the authors, Sangeet Paul Choudary, has a very useful blog: http://platformed.info
34 http://matchmakereconomics.com
36 https://skift.com/2016/08/11/airbnb-has-a-golden-moment-at-the-rio-olympics/
37 This has been very well described by Jeremy Rifkin in his book Zero Marginal Cost Economy.
http://www.thezeromarginalcostsociety.com http://www.commonwealthclub.org/events/archive/podcast/jeremy-rifkin-are-we-moving-capitalist-collaborative-economy-4914
http://newnature.blogspot.dk/2014/05/jeremy-rifkin-on-economy-where-energy.html
38 Not all platforms need to be giants. By specializing and targeting accurately, even smaller platforms can gain critical mass as the leading platform in their niche: Airbnb covers all types of travelers, but there is platform for renting rooms that cater to particular audiences: very high end homes, gay travelers, football fans or people who go for nature hikes.
39 According to Financial Times Datawatch:
- Google had a 62% share of all global searches in March 2105 (http://blogs.ft.com/ftdata/2015/04/17/datawatch-global-search-market-share/)
- In 2014, Amazon had a 20% share of all global internet retailing, followed by Alibaba’s 14% share. (http://blogs.ft.com/ftdata/files/2015/11/G118X-DATAWATCH-MON.png)
- In the US, Amazon had a 41% share of the book market in 2014 (http://www.publishersweekly.com/pw/by-topic/industry-news/bea/article/62520-bea-2014-can-anyone-compete-with-amazon.html)
40 Toptal.com is a labor platform for software developers and designers, which explicitly will only represent the top 3% of the people they interview. The top talents can offer their services in a global market place and companies will know that they are hiring the best in the world for a task. In that situation, the freelancer is in a very good position to demand a high wage.
42https://www.eurofound.europa.eu/sites/default/files/ef_publication/field_ef_document/ef1359en.pdf
43 http://secondmachineage.com
44 http://www.digitimes.com/news/a20161229PD206.html
46 https://www.ft.com/content/f30051b2-1e36-11e4-bb68-00144feabdc0
47 Tip of the hat to Per Ödling for the example
48 According to a survey conducted in 2014 by the independent research firm Edelman Borland and commissioned by Freelancers Union and Elance-oDesk.
49 Independent work, Choice, necessity, and the gig economy, report by McKinsey Global Institute, Oct. 2016:
51 Polarization and Populism, World Bank ECA economic update Nov. 2016. page 34-36
http://www.ft.com/intl/cms/s/0/32e6bf64-36cd-11e5-b05b-b01debd57852.html?siteedition=uk
52 In its annual statistics, the freelance platform Upwork provides an interesting overview of the types of tasks the platform mediates, the number of jobs and where in the world they get done:
http://elance-odesk.com/online-work-report-global
54 http://cdn.equitablegrowth.org/wp-content/uploads/2016/12/06195635/playfair-12.png
55 http://eml.berkeley.edu/~saez/saez-UStopincomes-2015.pdf
56 https://fred.stlouisfed.org/graph/?graph_id=195323
57 A 2015 OECD study finds that temporary employees typically earn 40% less than permanent employees for the same number of hours:
OECD 2015, In It Together: Why Less Inequality Benefits All, see section 4.4
59 http://www.margaretthatcher.org/document/106689
60 For at very detailed description of the many ways in which in-equality damages society, see “The spirit level - Why Equality is Better for Everyone”, by Richard Wilkinson and Kate Pickett, Penguin books 2010. https://www.equalitytrust.org.uk/resources/the-spirit-level
61 Warren Buffet, the second richest person in the US, has pointed out that his secretary pays more taxes than he does.
http://abcnews.go.com/blogs/business/2012/01/warren-buffett-and-his-secretary-talk-taxes/
62 http://www.oecd.org/els/soc/income-distribution-database.htm
65 Detailed and up-to-date information about distribution of wealth can be found at the World Wealth and Income Database: http://www.wid.world
66 https://www.oxfam.org/en/pressroom/pressreleases/2017-01-16/just-8-men-own-same-wealth-half-world
67 Thomas Piketty, Capital in the twenty-first Century, 2014, Harvard University press
69Corporate taxes in the EU28 countries 1996-2015
70 https://fred.stlouisfed.org/graph/?g=2Xa
71 Zucman: The effective rate paid by US corporations has been reduced by 1/3 since late 1990s
http://gabriel-zucman.eu/files/Zucman2015Slides.pdf
72 http://www.epi.org/publication/charting-wage-stagnation/ - figure 7
https://qz.com/911968/bill-gates-the-robot-that-takes-your-job-should-pay-taxes/
74 For a well-written, rather disturbing insight in to the nature of high frequency stock trading, check Flash Boys: A Wall Street Revolt by Michael Lewis, 2014, W. W. Norton & Company
75 You can find an interesting of the relative size of different parts of the economy at this site: http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/
BIS, the Bank of International Settlements, keeps track of the number so-called derivatives, that are traded on the financial markets. In 2013, the total was $710 trillion.
In 2103 the Gross World Product, the sum of all countries’ GDP, was $75 trillion. http://www.statista.com/statistics/268750/global-gross-domestic-product-gdp/
Roughly, this indicates that the nominal value of derivatives is ten times greater than the value of the ”real” economy.
76 https://www.gpo.gov/fdsys/pkg/ERP-2017/pdf/ERP-2017-table6.pdf
77 The Economist has a critical presentation of the concept here: http://www.economist.com/blogs/economist-explains/2013/09/economist-explains-1
78 http://gabriel-zucman.eu/files/Zucman2015Slides.pdf
79 http://www.usatoday.com/story/money/business/2013/10/23/big-companies-pay-no-taxes/2480281/
81 https://itep.org/offshore-shell-games-2016/
82 https://www.greens-efa.eu/en/article/corporate-tax-avoidance-5963/
84 For individuals, the number of working hours has fallen somewhat, but the workforce has grown, because the population has increased, and because many more women have joined the workforce.
85 An Extraordinary Time, The End of the Postwar Boom and the Return of the Ordinary Economy, by Marc Levinson, by Penguin book, 2016
The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War, by Robert J. Gordon, Princeton university press, 2016
https://en.wikipedia.org/wiki/Trente_Glorieuses
http://larrysummers.com/category/secular-stagnation/
86 https://www.mturk.com/mturk/welcome
87 The chart builds on work by Anne Flemmert, LEGO educational institute
88 The analogy was described to me in an interview by the robot and AI scientist professor Hans Moravec of Carnegie Mellon University.
89 http://www.nytimes.com/2016/12/17/business/economy/universal-basic-income-finland.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=second-column-region®ion=top-news&WT.nav=top-news
90 http://www.ynharari.com/homo-deus/short-overview/
93 You can find more information about the High Tech, Low Cost concept at: http://peterhesseldahl.dk/high-tech-low-cost.html
94 http://www.itu.int/en/connect2020/Pages/default.aspx
95 I have had the pleasure of managing this research project examining frugal innovation: http://www.frugalsolutions.org
96 For more on the idea of equity as payment for even small transaction, see Esko Kilpi’s interesting writing: https://shift.newco.co/post-blockchain-smart-contracts-creating-a-new-firm-7695a910ea31
97 https://creativecommons.org
98 A widespread and enduring example is the Bristol Pound: http://bristolpound.org
99 The New Economic Foundation: http://www.neweconomics.org/publications/entry/21-hours
101 Danmarks Statistik, ADAM’s databank.
102 http://pubdocs.worldbank.org/en/278581479765753603/ECA-Economic-Update-Nov-2016-Eng.pdf
104 http://neweconomics.org/2016/12/massive-surge-londons-gig-economy/?header=Our+Work
105 http://www.livingwage.org.uk
106 http://www.uniontaxidenver.net
108 An important forum for discussing how cooperatives could play a greater role in the new economy is the ”platform cooperativism” conference: http://platformcoop.net
110 http://deemly.co
114 I have previously written a book on how we are
becoming a global organism. It was published back in 2002.
http://peterhesseldahl.dk/in-english/the-global-organism.html
115 An important literary example is the Greek myth of Pygmalion who fell in love with a statue that had become alive.
Daedalus and Icarus has been used since classical texts as symbolic of the ramifications and anxieties of machine-human hybrids.
117 http://motherboard.vice.com/read/simulated-universe-thinker-nick-bostrom-hasnt-stopped-believing
118 The Stiglitz commission on economic performance and social progress: http://www.insee.fr/en/publications-et-services/default.asp?page=dossiers_web/stiglitz/performance_eco.htm
119 It has been profitable to lay dedicated fiber networks for trading faster between Chicago and New York, and New York and London. http://www.dailymail.co.uk/news/article-2606539/How-super-fast-cable-networks-allow-City-flash-boys-fleece-pension-billions.html
120 Check the good news at Gapminder, the website of global development statistics started by the late Swedish statistician Hans Rosling: http://www.gapminder.org
121 http://www.indexmundi.com/commodities/
122 For a hopeful vision of this, I can recommend reading the work of the economist Carlota Perez: http://www.carlotaperez.org