This is from a Richard Chen meet yesterday. I can’t get it out out of my head…would love your thoughts..
1/ We all believe in power of data
2/ How we collect data now is centralised (FAANGS)
3/ How we collect data in the future is decentralised (crypto).
4/ When you have all the data you can control all the things. The collective data is more powerful than the human brain. It knows us better than we know ourselves.
5/ Once you are a company with all the data you don’t need to humans to work for you.
6/ Power will be more binary than we can conceive. Most will be begging on the streets.
7/ The US and China have / will have all the big companies. Europe will be a satellite of these states as we don’t own any of them .
If u therefore believe in power of data as ‘the new oil’ it is perfectly logical to have portfolio of only centralised data and — as a response — centralised data. In this version of the world you would hold FAANGS and crypto giants as they emerge.
Binary for sure..
But damn compelling.