John Batelle hit oil. Data is the new oil. And every individual is sitting on their own personal oil well. Only right now The Big Four have it. That should shift to individuals. But oil is physical. Data is not. Data portability will cause the ownership shift without harming The Big Four. This oil well is big enough that it could fund the much touted Universal Basic Income.
Don’t Break Up The Tech Oligarchs. Force Them To Share Instead.
Data Could Drive a Small Business Renaissance. But First, We Have to Free It.
Don’t Break Up The Tech Oligarchs. Force Them To Share Instead.
The idea is simply this: Require all companies who’ve reached a certain scale to build machine-readable data portability into their platforms. ....... that one rule, that one requirement: That every data service at scale had to stand up an API that allowed consumers to access their co-created data, download a copy of it (which I am calling a token), and make that copy available to any service they deemed worthy? ...... the example of a token that has all your Amazon purchases, which you then give to Walmart so it can do a historical price comparison and tell you how much money you would save if you shopped at its online service. ..... I mean, don’t we at least co-own the information about what we bought at Amazon? ...... Why can’t an ecosystem of agents, startups, and data brokers emerge, a new industry of information processing not seen since the rise of search optimization in the early aughts, leveraging and arbitraging consumer information to create entirely new kinds of businesses driven by insights currently buried in today’s data monopolies? ...... It’s be a lot like the Internet was once imagined to be. ...... it could dwarf our current Internet in terms of overall value created ..... tens of thousands of new companies would form, all of them feeding off the newly liberated oxygen of high quality, structured, machine readable data.
Data Could Drive a Small Business Renaissance. But First, We Have to Free It.
The intents, desires, and needs of tens of millions of consumers, who relentlessly poured their queries into Google’s placid and unblinking search box. ..... Adwords was a freaking revolution, but it ain’t nothing compared to what will happen if we unleash data tokens on the world. ...... what happens when local entrepreneurs have access to the information currently silo’d across thousands of walled garden services like Uber, LoopNet, Resy, and of course Facebook and Google ...... dry cleaners, hardware stores, bike shops — and this newly liberated class of information enables an explosion of efficiency, investment, and, well, flourishing in what has become, over the past four decades, a stagnant SMB environment. ..... this new competitive force will drive everyone to play at a higher level, focusing not on moats built on data silos, but instead on what really matters: A highly satisfied customer. That’s certainly Michelle’s goal, and the goal of every successful local business. Why shouldn’t it also be the goal of the data giants?
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