Doomsday for Google Marxism
As a reader of Daily Prophecy, it is imperative that you are aware of this.
Google has pulled off a fabulous accomplishment. It grew a company from nothing to a $700 billion market cap behemoth.
It has dominated in the world of search and cloud computing.
We live in the Google era. There’s no doubt about that. But that era is coming to an end.
I chose Google to highlight the problems with the current Internet infrastructure because the company is fundamentally flawed.
Indeed, we already know that its advertising business is not sustainable.
Did you know that 30% of your payments for smartphone services go to download ads that you don’t want to see? And only 0.06% of these smartphone ads are clicked on?
According to surveys, 50% of these clicks are made in error. That means only 0.03% of ads are actually desired.
This is a catastrophe.
And it’s not a viable business. Google is coming to the end of the line in smartphone advertising.
Of course, advertising isn’t Google’s only business. It also offers search and solutions — where, through artificial intelligence and the company’s increasing accumulation of big data, it can answer all your questions.
But that is where Google becomes downright delusional.
In my book, I call Google out as “neo-Marxist.”
Hear me out…
The key error of Marxism was Karl Marx’s belief that the Industrial Revolution of the 19th century was final attainment. That the problem of productivity and wealth creation had been solved forever.
And from then on, the only challenge would be how to distribute wealth, rather than how to create it.
What does this have to do with Google?
Well, Google is just repeating Karl Marx’s error with the new technology.
Google believes that its artificial intelligence, its machine learning, its robotics, its algorithmic biology, its search, its solutions, constitute a new final achievement of human beings.
In fact, I’d take it one step further. Google’s Marxism is even more grandiose than Karl’s original vision.
Google imagines a singularity where the machines will eclipse the human minds and allow all of the rest of us to retire on beaches and collect a guaranteed annual income.
In other words, robots are running the world. While the leaders of the revolution — like Sergey Brin and Larry Page — fly off with Elon Musk to some remote planet in a winner-take-all universe.
Again, this is delusional.
Google’s era will come to an end. Sooner than many think.
But what comes after?
What will be the new backbone of the Internet that allows for spontaneity and creativity to flourish once again?
We’ve experienced a billion data breaches on the net this year. And we’re seeing paranoia everywhere about “fake news,” spy chips, and fake hate.
If you’re brand-new to Daily Prophecy, the Cryptocosm (with the blockchain at its core) will provide a way out of this mess, as it opens the way to an internet architecture based on provable timestamped facts and immutable records.
The only problem?
For investors, blockchain companies offer a tantalizing mixed bag of initial coin offerings (ICOs) — many of which are already defunct or come packaged with huge (but elusive) promises.
But another option has opened up…
Joining the ICOs of the last two years are a new efflorescence of security token offerings (STOs). And STOs are contractually compliant with Security and Exchange Commission rules.
Under the JOBS act of 2015, these next generation companies can now raise up to $75 million from ordinary investors. That means you, if you remain aware of these.
Keep in mind that investments in this space are still new. So the Cryptocosm demands the kind of intense analysis that was previously given to Internet companies such as Amazon, Google, and Apple.
That is our goal here. Which is why this is a theme we’ll explore heavily here at Daily Prophecy.
Editor, Gilder’s Daily Prophecy