Life After Google: The Fall of Big Data and the Rise of the Blockchain Economy by George Gilder

Summary

'Life After Google' by George Gilder explores the limitations of the current big data-centric internet economy dominated by companies like Google, arguing that it suffers from fundamental security and privacy flaws. Gilder proposes that the advent of blockchain technology heralds a new era, where decentralized networks will replace centralized data silos. Through historical context and forward-looking analysis, he investigates how blockchain could reshape trust, value transfer, and information storage for individuals and businesses alike.

Life-Changing Lessons

1. Centralized models, despite offering convenience, create security and privacy risks that are increasingly untenable for users and societies.

2. Decentralization through blockchain can shift power from big tech monopolies to individuals, potentially democratizing access and ownership of digital assets.

3. Innovation is cyclical; the dominance of current platforms will eventually give way to disruptive technologies that empower the next wave of entrepreneurs.

Publishing year and rating

The book was published in: 2018

AI Rating (from 0 to 100): 78

Practical Examples

1. Google's Centralized Model

   Gilder critiques Google’s centralized server-based approach, explaining how it accumulates and monetizes user data while exposing society to privacy violations and hacking risks. He contrasts this with older internet ideals where users had more control and ownership of their information.

2. Blockchain-enabled Security

   The book describes how blockchain can provide security through decentralized consensus, eliminating single points of failure. Gilder highlights public ledgers as a means to create trust directly between users, reducing reliance on intermediaries.

3. Self-sovereign Identity

   Gilder discusses the concept of self-sovereign identity, where individuals, not corporations, control their personal information using blockchain wallets. This could upend current models of data brokerage and targeted advertising.

4. Smart Contracts

   He illustrates how programmable agreements, or smart contracts, could automate and secure digital transactions without the need for trusted third parties. This example shows blockchain’s potential to disrupt industries like insurance, law, and finance.

5. The Rise of Cryptocurrencies

   Gilder examines how digital currencies such as Bitcoin challenge the established order by decentralizing money creation and offering alternatives to central banking systems. He suggests this could have broad economic and political ramifications.

6. Disintermediation of Online Platforms

   The book describes how blockchain allows for the emergence of peer-to-peer platforms that bypass traditional middlemen, such as ride-sharing or content distribution services directly connecting providers and users.

7. Incentive Structures in Decentralized Networks

   Gilder points out that blockchain allows for the creation of new incentive structures using crypto-tokens, which reward positive behaviors and participation without centralized oversight.

8. Immutable Records for Supply Chains

   He gives the example of using blockchain to create tamper-proof records in supply chains, increasing transparency and reducing fraud in industries like food production and pharmaceuticals.