Crypto is intended to be hard to regulate, but at least the Treasury wants to have a go

This morning’s Observer column:

For my sins, I have been reading Future financial services regulatory regime for cryptoassets, 82 pages of prime Whitehall verbiage that was published recently, setting out HM Treasury’s plans to govern the clouds and hold back the tides.

It opens with the statutory ringing endorsement by Andrew Griffith, economic secretary to the Treasury. He reminds readers that the government’s “firm ambition is for the UK to be home to the most open, well-regulated and technologically advanced capital markets in the world” – which “means taking proactive steps to harness the opportunities of new financial technologies”. He further believes that “crypto technologies” can have a profound impact across financial services and that “by capitalising on the potential benefits offered by crypto we can strengthen our position as a world leader in fintech, unlock growth and boost innovation”. Cont’d p94, as they say in Private Eye.

Billed as a “consultation and call for evidence”, the document invites our views on these important matters. As a public-spirited columnist, it would be churlish to refuse the invitation. So here goes…

Read on.

A self-driving revolution? We’re barely out of second gear

This morning’s Observer column:

“Britain moves closer to a self-driving revolution,” said a perky message from the Department for Transport that popped into my inbox on Wednesday morning. The purpose of the message was to let us know that the government is changing the Highway Code to “ensure the first self-driving vehicles are introduced safely on UK roads” and to “clarify drivers’ responsibilities in self-driving vehicles, including when a driver must be ready to take back control”.

The changes will specify that while travelling in self-driving mode, motorists must be ready to resume control in a timely way if they are prompted to, such as when they approach motorway exits. They also signal a puzzling change to current regulations, allowing drivers “to view content that is not related to driving on built-in display screens while the self-driving vehicle is in control”. So you could watch Gardeners’ World on iPlayer, but not YouTube videos of F1 races? Reassuringly, though, it will still be illegal to use mobile phones in self-driving mode, “given the greater risk they pose in distracting drivers as shown in research”.

As usual, the announcement comes coated in three layers of prime political cant. This “exciting technology” is “developing at pace right here in Great Britain” (but apparently not in Northern Ireland; could it be that the DUP doesn’t approve of such advanced technology?). The government is “ensuring we have strong foundations in place for drivers when the technology takes to our roads”, which will be great once it has attended to the crumbling physical foundations of the roads in my neighbourhood. And of course it’s all happening “while boosting economic growth across the nation and securing Britain’s place as a global science superpower”…

Read on

Is there still time to rein in the tech giants?

Long piece by me in today’s Observer:

When historians look back on this period, one of the things that they will find remarkable is that for a quarter of a century, the governments of western democracies slept peacefully while some of the most powerful (and profitable) corporations in history emerged and grew, without let or hindrance, at exponential speeds.

They will wonder at how a small number of these organisations, which came to be called “tech giants” (Alphabet, Amazon, Apple, Facebook and Microsoft), acquired, and began to wield, extraordinary powers. They logged and tracked everything we did online – every email, tweet, blog, photograph and social media post we sent, every “like” we registered, every website we visited, every Google search we made, every product we ordered online, every place we visited, which groups we belonged to and who our closest friends were.

And that was just for starters. Two of these companies even invented a new variant of extractive capitalism. Whereas the standard form appropriated and plundered the Earth’s natural resources, this new “surveillance capitalism” appropriated human resources in the shape of comprehensive records of users’ behaviour, which were algorithmically translated into detailed profiles that could be sold to others. And while the activities of extractive capitalism came ultimately to threaten the planet, those of its surveillance counterpart have turned into a threat to our democracy…

Read on

China is cutting its tech giants down to size. Should the west learn from this?

This morning’s Observer column:

This is story of two parallel universes. Over in the western one, neoliberal capitalism rules. In the other – the Chinese universe – a different system presides. In both universes, government concern over the growing power of giant tech companies has been growing for a while, but there the similarities end.

In the west, governments and legislatures were asleep at the wheel as the tech companies zoomed along their rapid growth paths. But in the past few years, democratic institutions have belatedly lumbered into action, or at any rate into a semblance of activity…

Read on

Finally, the Johnson government appears to have had a good idea

This morning’s Observer column:

On Tuesday, in a rare break with recent practice, a branch of the UK government did something clever. The Competition and Markets Authority (CMA) outlined plans for an innovative way of regulating powerful tech firms in a way that overcomes the procedural treacle-wading implicit in competition law that had been designed for an analogue era.

The proposals emerged from an urgent investigation by the Digital Markets Taskforce, an ad hoc body set up in March and led by the CMA with input from the Information Commissioner’s Office and Ofcom, the telecommunications and media regulator. The taskforce was charged with providing advice to the government on the design and implementation of a pro-competition regime for digital markets. It was set up following the publication of the Treasury’s Furman review on unlocking digital competition, which reported in March 2019 and drew on evidence from the CMA’s previous market study into online platforms and digital advertising.

This is an intriguing development in many ways. First of all it seems genuinely innovative – unlike this week’s antitrust lawsuits brought against Facebook in the US…

Read on

If this survives the ‘consultation’ (i.e. lobbying) phase and makes it onto the statute book, then things could get interesting.

Sunday 15 November, 2020

Metropolitan life


Quote of the Day

”A trip through a sewer in a glass-bottomed boat.”

  • Wilson Mezner, describing his time in Hollywood.

Musical alternative to the radio news of the Day

Mark Knopfler | Going Home | Royal Albert Hall | 2019

Link


When it comes to Amazon, breaking up is hard to do

This morning’s Observer column

The European commission has opened an antitrust investigation of Amazon, on the grounds that the company has breached EU antitrust rules against distorting competition in online retail markets. Amazon, says the commission, has been using its privileged access to non-public data of independent sellers who sell on its marketplace to benefit the parts of its own retail business that directly compete with those third-party sellers. The commission has also opened a second investigation into the possible preferential treatment of Amazon’s own retail offers compared with those of marketplace sellers that use Amazon’s logistics and delivery services.

The good news about this is not so much that the EU is taking action as that it is doing so in an intelligently targeted manner. Too much of the discourse about tech companies in the last two years has been about “breaking them up”. But “break ’em up” is a slogan, not a policy, and it has a kind of Trumpian ring to it. The commission is avoiding that.

It is also avoiding another trap – that of generally labelling Amazon as a “monopoly”…

Read on


Long Read of the Day

Welcome to Apple: A one-party state

The tech giants have as much money and influence as nations. So what if we reported on them like countries? What would Apple be? A liberal China…

Read on


The generational impact of Moore’s law

Lovely post by Venkatesh Rao about the mindset induced by living in a world governed by Moore’s Law.

Moore’s Law was first proposed in 1965, then again in revised form in 1975. Assuming an 18-month average doubling period for transistor density (it was ~1 year early on, and lately has been ~3y) there have been about 40 doublings since the first IC in 1959. If you ever go to Intel headquarters in San Jose, you can visit the public museum there that showcases this evolution.

The future of Moore’s law seems uncertain, but it looks like we’ll at least get to 1-3 nanometer chips in the next decade (we were at 130nm at the beginning of the century, and the first new computer I bought had a 250nm Celeron processor). Beyond 1-3nm, perhaps we’ll get to different physics with different scaling properties, or quantum computing. Whatever happens, I think we can safely say Gen X (1965-80) will have had lives nearly exactly coincident with Moore’s Law (we’ll probably die off between 2045-85).

While there have been other technologies in history with spectacular price/performance curves (interchangeable parts technology for example), there is something special about Moore’s Law, since it applies to a universal computing substrate that competes with human brains.

GenXers are Moore’s Law people. We came of age during its heyday…

Original and interesting, like almost everything Rao writes. Worth reading in full.


Other, hopefully interesting, links

  • Diane Coyle’s Longlist for the economics book of 2020. Link. Damn: I’ve only read one of them.And she’s missed out Zachary Carter’s fine biography of Keynes (and Keynesianism).

  • iFixit’s iPhone 12 mini teardown looks at how Apple fit so much into such a tiny device. iFixit does wonderful analyses of intricate devices. This ‘teardown’ of the new mini version of the iPhone 12 is a gem. Link

  • Hermione Lee on what it’s like writing a biography of a living subject. Link In her case it’s the playwright Tom Stoppard. The book is out — and on my list. My friend Gerard is enjoying it. And I loved her biography of Virginia Woolf.


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Sunday 11 October, 2020

Walking by a clear running stream this afternoon, we came on this beautiful carpet of star-shaped plants. No idea what it is, but it was really striking.


Quote of the Day

I had a lovely email from a friend about last Friday’s “Quote of the Day” (cricket commentator Brian Johnson’s immortal remark: “The bowler’s Holding, the batsman’s Willey”) It reminded him, he wrote,

of the story about Harry Caray, a legendary American baseball announcer. Caray was calling a Chicago Cubs game on TV in the mid 1980’s. Baseball is a slow game so the cameramen were often looking for something interesting going on in the crowd. At several times during the game, the broadcast showed a particular couple in the stands making out. Finally, towards the end of the game, Caray says, “Folks, I think I figured it out. He kisses her on the strikes and she kisses him on the balls!”

Many thanks to Hap for that knockout quote.


Musical alternative to the morning’s radio news

Alfred Brendel – Schubert, Klavierstücke D. 946 No. 2 in E Flat

Link


Finally US politicians are taking the fight to the tech giants

This morning’s Observer column

On Tuesday evening, a large (449-page) pdf landed in my inbox. It’s the majority report of the US House of Representatives judiciary committee’s subcommittee on antitrust, commercial and administrative law and it makes ideal bedside reading material for only two classes of person: competition lawyers and newspaper columnists. But even if it’s unlikely to be a bestseller, its publication is still a landmark event because it marks the first concerted (and properly resourced) critical interrogation of a new group of unaccountable powers that is roaming loose in our democracies: tech companies. Its guiding spirit was something said by the great Supreme Court justice Louis Brandeis many moons ago: “We must make our choice. We may have democracy or we may have wealth concentrated in the hands of a few, but we cannot have both.”

Only four tech companies were targeted – Amazon, Apple, Facebook and Google. How Microsoft escaped scrutiny is a mystery (to me anyway); perhaps it’s because that company had its day in court long ago and survived to become the handmaiden of governments and organisations everywhere and is therefore part of the ruling establishment.

The inquiry that led to the report started in 2019 as an investigation into the state of competition online. It had three aims: “1) to document competition problems in digital markets; 2) examine whether dominant firms are engaging in anticompetitive conduct; and 3) assess whether existing antitrust laws, competition policies and current enforcement levels are adequate to address these issues.” Crudely summarised, its conclusions are…

Read on


Good news for Glassholes

Wearable tech has never been so fashionable. Meet Spectacles 3 from Snap Inc. Capture your world in 3D with two HD Cameras and four built-in mics, which store up to 100 3D videos or 1,200 3D photos. Photos and videos wirelessly sync to your phone, where you can edit and transform then with a new suite of 3D effects on Snapchat. Recharge Spectacles 3 on the go with the included charging case.

Think of it as DIY sousveillance.

Source


The looming mental health crisis

This is a slide from one of the most alarming presentations I’ve been to in a long time. It’s worth reading carefully. In particular, note the bullet points for life expectancy, male suicide rates, the estimated cost to the economy and the fact that three-quarters of mental health problems start before the age of 18.

Cambridge University is setting up an Institute for Mental Wellbeing, and the presentation was giving some background information on the new institute and the justifications for it.

Of course, like most people, I’ve been aware of a degree of public concern about mental health — concern which has been greatly amplified by the Coronavirus and associated lockdowns, job losses, precarity and other sources of stress. But since it’s not my field I’m ashamed to say that I had relegated discussions about it to the status of depressing background noise. I had absolutely no idea of the scale of the crisis until the meeting last Monday when the presentation was given.

Over the years some of my friends and family members have suffered from depression, anxiety and other psychological conditions, and I supported one of them through three terrible bouts, but until now I’d always thought of these as relatively rare misfortunes rather than as conditions that afflict millions of people.

How wrong can you be?


How to film a conversation in a yellow Fiat Quinquecento

From Axios


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Friday 2 October, 2020

If only…

Arles, July 2017.


Quote of the Day

”Writing a novel does not become easier with practice.”

  • Graham Greene

Musical replacement for the morning’s radio news

John Field: Nocturne No. 10 in E minor

Link


EU plans for controlling tech companies

Politico has obtained a leaked copy of measures that EU regulators are considering imposing on certain kinds of tech companies. Cory Doctorow has provided a neat annotated list on Pluralistic.net.

First of all, stuff that the EU is considering prohibiting:

  • Mining your customers’ data to compete with them or advertise to their customers (think: Facebook Like buttons on publisher pages, Amazon’s own-brand competitors)

  • Mixing third-party data with surveillance data you gather yourself (like Facebook buying credit bureaux data), without user permission (which is the same as never because no one in the world wants this)

  • Ranking your own offerings above your competitors (think: Google Shopping listings at the top of search results)

  • Pre-installing your own apps on devices (like Ios and Android do) or requiring third party device makers to install your apps (as Android does)

  • Using DRM [Digital Rights Management] or terms to service to prevent users from uninstalling preinstalled apps (no immortal shovelware)

  • Exclusivity deals – mobile OS/device companies can’t force an app vendor to sell only through the app, and not on the open web

  • Using DRM or terms of service to prevent sideloading

  • Nondisparagement/confidentiality clauses that would prevent your suppliers from complaining about your monopolistic behavior

  • Tying email to other services – you have to be able to activate an Android device without a Gmail account

  • Automatically logging users into one service on the basis that they’re logged into another one (eg using Gmail doesn’t automatically log you into Youtube)

Then there are projected new ‘requirements’ that companies will have to provide:

  • Annual transparency reports that make public the results of an EU-designed audit that assesses compliance

  • Annual algorithmic transparency reports that disclose a third-party audit of “customer profiling” and “cross-service tracking”

  • Compliance documents showing current practices, on demand by regulators

  • Advance notice of all mergers and acquisitions

  • An internal compliance officer who oversees the business

This is an interesting leak, not so much for the specific kinds of measures that they are contemplating, but as revealing the general conception of regulation that underpins EU thinking. In a way, it’s as if they are regarding tech companies much as we regard banks. That may work in some circs. But it may also reflect an inadequate conception of the power of tech companies.


The mystery of John Banville’s mysteries

Lovely essay in the NYT by Charles McGrath about John Banville and the background to his forthcoming novel Snow:

The Irish novelist John Banville is a famous perfectionist — the kind of writer who can spend a day on a single sentence. His books, most written in the first person, are lapidary, intricate, Nabokovian. Or just difficult, some readers have complained, more interested in style than in storytelling. They invariably come laden with words that seem meant to prove his vocabulary is bigger than yours: flocculent, crapulent, caducous, anaglypta, mephitic, velutinous.

A Banville novel typically takes four or five painful years to complete, after which the author is still dissatisfied. In a 2009 interview, he told The Paris Review that he hated his own books. “They’re an embarrassment and a deep source of shame,” he said, and then added: “They’re better than everybody else’s, of course, but not good enough for me.”

In March 2005, however, while staying at a friend’s house in Italy, Banville sat down one morning and for some reason began writing a mystery novel set in 1950s Dublin. By lunchtime he had 1,500 words — or a week’s worth at his usual pace. He thought to himself, “John Banville, you slut,” but kept going and finished in five or six months. “I was a little appalled at the speed with which I got the thing done,” he said in a recent email. He had been reading Simenon — though not the Inspector Maigret crime novels — and was inspired by him to see what could be accomplished with a narrow vocabulary and a spare, straightforward style.

Many years ago I wrote a few pieces for the Irish Times when Banville was the paper’s Literary Editor. The striking thing (to me) when dropping in copy was the way everybody referred to him as “Mr. Banville”. Even then he was just like his writing: fastidious, distant, intimidating. Looks like he hasn’t changed. But he’s a terrific writer, so he’s excused normality.

The NYT piece has a couple of terrific photographs of him, btw.


What Trump’s tax-returns tell us

Basically, that he’s incapable of running a business.

All of his casinos, property developments, etc. have been commercial disasters. The one thing that really worked for him was his spell on The Apprentice and the celebrity status that that gave him, which he then assiduously leveraged by endorsements and lending his name to various ventures. He earned a staggering amount from that alone. He then spent a lot of those earnings on buying hotels and 15 golf courses in various parts of the US and the world (including, as I now know, one in Ireland). But these are proper businesses and he can’t run such things, so some of them have been bleeding money over the years.

By 2016, his earnings from the celebrity glow of The Apprentice were declining rapidly (all celebrity has a half-life) and he had an urgent need to find a new way of rekindling it because of the losses on the golf and hotel businesses.

So here’s my idea for a comic novel based on these circumstances…

Trump’s big idea for reigniting his celebrity status was that running for president would be a way to do it. Think of all the free publicity. His name in lights every day on cable TV, etc. So he decided to run. The end-game would be that he could then start his own TV network — Trump TV — challenging Fox and Murdoch and becoming a new media mogul. The idea was not to be elected: even his narcissism didn’t make him think that he might succeed. The celebrity-enhancement flowing from the campaign was the goal. Trump didn’t actually want to be president: too much like hard work.

Far-fetched? Hey — this is a novel, remember. Pure fiction. No requirement to adhere to the facts.

But… Michael Lewis’s terrific book, The Fifth Risk: Undoing Democracy opens with the night of the election and the stunned astonishment in the Trump campaign team at what was unfolding. It was one long “Oh, shit!!!!!” Moment. The plan had backfired. They had actually won the election. Trump was going to have to be President!

Lewis points out that when Trump won the Republican nomination he was astonished and infuriated that he was now obliged, by law, to start forming a Transition Team to plan for forming an Administration. And he did everything in his power to hobble that process.

The New York Times’s exposé of his tax returns adds the final touch necessary for the plot of my comic novel. Their analysis suggests that Trump is now personally liable for something like $400m of debts for which he is the sole guarantor. The banks who are on the hook for that can’t touch him while he’s President. But if he loses…. Well, next stop the bankruptcy court, or worse. No wonder he’s desperate not to lost the election.


More on how to model (and explain) the spread of Covid-19

Further to my post yesterday about Zeynep Tufecki’s fascinating article on why focussing simply on R0, the reproduction rate for Covid-19 might be misleading because it misses the importance of ‘super-spreading’ events, Seb Schmoller pointed out a new research paper published by the Royal Society the other day which appears to support Tufecki’s line of argument.

Here’s the Abstract of the paper:

The basic reproduction number ℛ0 of the coronavirus disease 2019 has been estimated to range between 2 and 4. Here, we used an SEIR model that properly accounts for the distribution of the latent period and, based on empirical estimates of the doubling time in the near-exponential phases of epidemic progression in China, Italy, Spain, France, UK, Germany, Switzerland and New York State, we estimated that ℛ0 lies in the range 4.7–11.4. We explained this discrepancy by performing stochastic simulations of model dynamics in a population with a small proportion of super-spreaders. The simulations revealed two-phase dynamics, in which an initial phase of relatively slow epidemic progression diverts to a faster phase upon appearance of infectious super-spreaders. Early estimates obtained for this initial phase may suggest lower ℛ0.

The key sentence in the concluding section reads:

Spatial heterogeneity of the epidemic spread observed in many European countries, including Italy, Spain and Germany, can be associated with larger or smaller super-spreading events that initiated outbreaks in particular regions of these countries.

This is just the latest demonstration of how limited our understanding of this pandemic is — still. We’re learning as we go, but without a good understanding of the dynamics of infection and spread, we’re driving by looking in the rear-view mirror.


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Tuesday 18 August, 2020

Dusk

That magical moment between daylight and darkness.

Click on the image for a bigger version.


Quote of the Day

“The convent taught me only that if you spit on a pencil eraser it will erase ink.”


Musical alternative to the morning’s radio news

Paul Brady sings ‘Arthur McBride’, an Irish folk song variously categorised as an “anti-recruiting” song, a specific form of anti-war song, or more broadly as a protest song. Planxty also has a lovely version of it.

Link


Thinking about tech regulation

This diagram comes from an interesting article, “Law and Technology Realism” by Thibault Schrepel.

While it is commonly accepted that technology is deterministic, I am under the impression that a majority of “Law and Technology” scholars also believe that technology is non-neutral. It follows that, according to this dominant view, (1) technology drives society in good or bad directions (determinism), and that (2) certain uses of technology may lead to the reduction or enhancement of the common good (non-neutrality). Consequently, this leads to top-down tech policies where the regulator has the impossible burden of helping society control and orient technology to the best possible extent.

This article is deterministic and non-neutral.

But, here’s the catch. Most of today’s doctrine focuses almost exclusively on the negativity brought by technology (read Nick Bostrom, Frank Pasquale, Evgeny Morozov). Sure, these authors mention a few positive aspects, but still end up focusing on the negative ones. They’re asking to constrain technology on that sole basis. With this article, I want to raise another point: technology determinism can also drive society by providing solutions to centuries-old problems. In and of itself. This is not technological solutionism, as I am not arguing that technology can solve all of mankind’s problems, but it is not anti-solutionism either. I fear the extremes, anyway.

Not sure I agree with his methodological recommendations at the end, but this is an interesting way of thinking about the regulation problem.


Challenging the epistemological imperialism of ‘Computer Science’

Randy Connolly has written an extraordinary article in the August issue of Communications of the ACM on “Why Computing Belongs Within the Social Sciences”. It’s a really interesting and important essay, about which I will be writing more. But for now, here’s the trailer.

Link


Jack Shafer: stop fretting about Trump’s bluffing on postal voting and get your vote in early

Typically robust Shafer column:

If you’re still worried about the disenfranchisement of the 76 percent of eligible voters who have the right to cast their ballot by mail, there are practical things you can do as an individual besides tweeting anxiously about Trump. The progressives at Democracy Docket recommend that in addition to using special drop boxes, you avoid the Election Day crowds by taking part in the early, in-person voting offered in 41 states. Some states even offer weekend voting. They also suggest you participate in the organized collection of ballots, which some states allow. (Trump assails organized collection as “ballot harvesting.”)

Other things you can do to increase the tabulated vote: Request your absentee ballot at the earliest date possible and return it in person, by mail or secure dropoff as soon as you can. If you live in a state that sends ballots to all registered voters, complete yours and return it promptly. Also, use the USPS sparingly in the three weeks before the election to liberate capacity. Pay your bills via the web. Don’t send postcards. Place phone calls instead of sending birthday cards. Send packages through FedEx or UPS.

Do what you can—if only to call Trump’s postal bluff.

I like Shafer’s brusque, no-nonsense style. Which is why I always read him.


Summer books #7

Magic Mobile by Michael Frayn.

This is lovely. I bought it at the beginning of lockdown. It’s a “no-fuss, non-digital entertainment system”, complete with 35 “pre-loaded new text files” by one of Britain’s greatest playwrights and humourists. No batteries required. Makes a lovely gift for non-techies, I’ve discovered.


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Tuesday 28 July, 2020

Quote of the Day

A handful of very large, very rich companies that need fewer and fewer workers doesn’t add up to an economy.

  • Rana Foroohar, Financial Times, 27.07.2020.

Today’s musical alternative to Radio 4’s ‘Today’ programme

BB King and friends, live in the Albert Hall in 2011


So will Congress holds tech bosses to account tomorrow?

Er, don’t hold your breath. The New York Times set the scene this morning:

The captains of the New Gilded Age — Jeff Bezos of Amazon, Tim Cook of Apple, Mark Zuckerberg of Facebook and Sundar Pichai of Google — will appear together before Congress for the first time to justify their business practices. Members of the House judiciary’s antitrust subcommittee have investigated the internet giants for more than a year on accusations that they stifled rivals and harmed consumers.

The hearing is the government’s most aggressive show against tech power since the pursuit to break up Microsoft two decades ago. It is set to be a bizarre spectacle, with four men who run companies worth a total of around $4.85 trillion — and who include two of the world’s richest individuals — primed to argue that their businesses are not really that powerful after all.

Last Saturday I highlighted Scott Galloway’s wonderful list of searching questions that the law-makers should ask, but probably won’t. We’ll just have to wait and see.

Interestingly, this will be the first time that Jeff Bezos has appeared before Congress.

The fact that the House judiciary’s antitrust subcommittee has been thinking about antitrust questions in relation to the tech giants is interesting, though. My hope is that the researchers have moved beyond “break ’em up” sloganeering and have started to think about the kinds of policy measures that would stand a chance of having an impact on the companies.

In that context, Benedict Evans published a very thoughtful essay on the regulation issue this week.

Tech has gone from being just one of many industries to being systemically important to society. My old colleague Marc Andreessen liked to say that ‘software is eating the world’ – well, it did.

The trouble is, when tech becomes the world, all of tech’s problems matter much more, because they become so much bigger and touch so many more people; and in parallel all of the problems that society had already are expressed in this new thing, and are amplified and changed by it, and channeled in new ways. When you connect all of society, you connect all of society’s problems as well. You connect all the bad people, and more importantly you connect all of our own worst instincts. And then, of course, all of these combine and feed off each other, and generate new externalities. The internet had hate speech in 1990, but it didn’t affect elections, and it didn’t involve foreign intelligence agencies.

When something is systemically important to society and has systemically important problems, this brings attention from governments and regulators. At a very high level, one could say that all industries are subject to general legislation, and some also have industry-specific legislation. All companies have to follow employment law, and accounting law, and workplace safety law, and indeed criminal law. But some also have their own laws as well, because they have some very specific and important questions that need them. This chart is an attempt to capture some of this industry-specific law. Banks, airlines and oil refineries are regulated industries, and technology is going to become a regulated industry as well.

It’s a great, wise essay. Worth reading in full.


How not to win friends in Silicon Valley

I’ve just learned that my Observer piece about Trump and Zuckerberg on Sunday had over a million page-views.

That’s even more than the piece I wrote in the Summer of 2013 about Edward Snowden.


‘Hygiene Theatre’ is a huge waste of time

Really interesting piece by Derek Thompson in The Atlantic arguing that surface transmission is not such a big threat compared with airborne transmission. In other words, “people are power scrubbing their way to a false sense of security”.

To some American companies and Florida men, COVID-19 is apparently a war that will be won through antimicrobial blasting, to ensure that pathogens are banished from every square inch of America’s surface area.

But what if this is all just a huge waste of time?

In May, the Centers for Disease Control and Prevention updated its guidelines to clarify that while COVID-19 spreads easily among speakers and sneezers in close encounters, touching a surface “isn’t thought to be the main way the virus spreads.” Other scientists have reached a more forceful conclusion. “Surface transmission of COVID-19 is not justified at all by the science,” Emanuel Goldman, a microbiology professor at Rutgers New Jersey Medical School, told me. He also emphasized the primacy of airborne person-to-person transmission.

So “hygiene theatre” may be the Covid equivalent of the security theatre that goes on in airports.


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