Economies of the Future: Disruptive Technology, the Myth of Capitalism, and Why Ordinary People Don't Get Wealthy
a Tech 2025 Think Tank and live podcast recording
Thursday, April 11 (6:30pm-8:30pm)
at Rise NY, 43 West 23rd Street
Featured Speakers: Denise Hearn, co-author of "The Myth
of Capitalism: Monopolies and the Death of Competition"
and Max Sklar, host of "The Local Maximum" podcast
Think Tank Discussion
Join us for our next think tank discussion. Our think tanks are interactive, open discussions, and an exchange of information and ideas between our expert guest speaker(s) and the audience -- everyone gets the opportunity to share their opinions and ideas. We encourage and facilitate thought-provoking, respectful discourse as we all struggle to understand sweeping changes that are coming to our world!
"The anger in Northern California and elsewhere in the United States springs from an increasingly obvious reality: the rich are getting richer while many other people are struggling. It’s hard not to wonder whether Silicon Valley, rather than just exemplifying this growing inequality, is actually contributing to it... Does the region really portend a future... in which a few very rich people leave the rest of us hopelessly behind?" -- David Rotman (Technology Review)
Jason Calacanis (a serial technology entrepreneur and arguably one of the most successful and respected angel investors in Silicon Valley) knows why you're not wealthy. In a recent blog post, Why People Don’t Get Wealthy, Calacanis listed nine reasons why people don't get wealthy:
1. A lack of skills
2. Lack of taking risks
3. Not building a network
4. Poor work ethic
5. Not reading books
6. Giving up after getting beat down
8. Being born at the wrong time
9. Being born in the wrong country
After tweeting his blog post where he also laments the growing trend among young people to embrace socialism over capitalism, a lively debate ensued with people tweeting their reasons for why people don't get wealthy and whether capitalism has failed.
What does disruptive, emerging technology have to do with the inability of people to "get wealthy?" Apparently, a lot. One of the largest and most prominent debates in social sciences and economics today is the role of technology in inequality.
"But the biggest factor of why technological changes can contribute to inequality, Brynjolfsson says, is that the technology-driven economy greatly favors a small group of successful individuals by amplifying their talent and luck, and dramatically increasing their rewards. Brynjolfsson argues that these people are benefiting from a winner-take-all effect originally described by Sherwin Rosen in a 1981 paper called “The Economics of Superstars.”" -- David Rottman (Technology Review)
According to McKinsey Global Institute's recent report on the Impact of AI on the world economy, Artificial Intelligence has the potential to incrementally add 16 percent, or around $13 trillion, to current global economic output by 2030. How will this new wealth be distributed? What new economic systems will come out of this? Who will benefit from this new wealth, who will lose, and who will simply disappear?
In this think tank, we will tackle these questions and the question posed by Jason Calacanis with guest speaker and author, Denise Hearn, who will provide much-needed perspective on what's really happening and the root causes of our economic instability and widening income gap as a result of technological disruptions (among other factors). Max and his production team will do a live episode recording of their show, The Local Maximum Podcast, including getting certain audience feedback, and will interview Denise Hearn.
ABOUT DENISE HEARN
Denise Hearn writes, presents, and consults on economic justice and systems change aimed at human flourishing. She is co-author of The Myth of Capitalism: Monopolies and the Death of Competition – named one of the Financial Times’ Best Books of 2018 and endorsed by two Nobel Prize winners. Denise has presented to over 50,000 people at venues including: the Oxford Union, Bloomberg, a Canadian Parliamentary Standing Committee, and group homes for foster children.
Most recently, Denise was Head of Business Development at Variant Perception - a global macroeconomic research and investment strategy firm that caters to hedge funds and family offices. She has also built new impact investment models in Canada, helped create the world’s first Trustmark for Sharing Economy companies in the UK, and was chosen for the Alt/Now: Economic Inequality residency program at the Banff Centre in 2016.
Denise has an MBA from the Oxford Saïd Business School, where she co-chaired the Social Impact Oxford Business Network, and a BA in International Studies from Baylor University. She resides in Seattle with her husband and enjoys hiking, singing, and breaking conversation norms at parties.
ABOUT THE BOOK
Named one of the Best Books of 2018 by Financial Times
The Myth of Capitalism tells the story of how America has gone from an open, competitive marketplace to an economy where a few very powerful companies dominate key industries that affect our daily lives. Digital monopolies like Google, Facebook and Amazon act as gatekeepers to the digital world. Amazon is capturing almost all online shopping dollars. We have the illusion of choice, but for most critical decisions, we have only one or two companies, when it comes to high speed Internet, health insurance, medical care, mortgage title insurance, social networks, Internet searches, or even consumer goods like toothpaste.
Every day, the average American transfers a little of their pay check to monopolists and oligopolists. The solution is vigorous anti-trust enforcement to return America to a period where competition created higher economic growth, more jobs, higher wages and a level playing field for all. The Myth of Capitalism is the story of industrial concentration, but it matters to everyone, because the stakes could not be higher. It tackles the big questions of: why is the US becoming a more unequal society, why is economic growth anemic despite trillions of dollars of federal debt and money printing, why the number of start-ups has declined, and why are workers losing out.
Buy the book HERE.
ABOUT MAX SKLAR
Machine Learning Engineer and Host of "The Local Maximum"
Max Sklar is a machine learning engineer at Foursquare. He focuses on using machine learning and heuristics to develop new features and products. More recently he has led the development effort of the Marsbot app, a bot that texts local recommendations, and on a new methodology for Ad Attribution - a step forward for the industry.
Max has spoken at a variety of conferences and universities, including the ACM conference on Recommender Systems, the Cambridge Workshop on Urban Data Science, and Talkabot 2016.
He holds a masters degree from NYU in Information Systems, and a Bachelor of Science in Computer Science from Yale. He is also a board member of the Yale Alumni Service Corps, and recently led a volunteer trip to the Fort Mojave Indian Reservation in October.
Listen to Charlie interview Max on the Tech 2025 podcast HERE.
ABOUT THE LOCAL MAXIMUM PODCAST
Expanding our perspective about technology and the future.
Hosted by Max Sklar (former Machine Learning Engineer at Foursquare, currently at Luminary Media), The Local Maximum Podcast is a weekly podcast, launched in 2017. The phrase “Local Maximum” is a mathematical term, and it refers to a point at which you need to step down in order to reach new heights. But people - not just points - can get caught in a local maximum. That means they’ve gone as far as they can through one strategy which has gone stale and they need to search for new ideas.
In product design and machine learning, we sometimes ask if we’re in a local maximum, and whether starting from a fresh perspective can lead to better results.
So this podcast is about examining technology, engineering, and social trends through the lens of expanding perspectives and moving beyond the Local Maximum both for ourselves AND for our algorithms. Max and his guests explore techniques to understanding the world of AI and Machine Learning that an average person can understand - and he shows how to get our algorithms to be more flexible through the same process we use on people. Listen to Max interview Charlie Oliver (CEO of Tech 2025) on The Local Maximum HERE.
ABOUT CHARLIE OLIVER
Founder/CEO, TECH 2025 and Served Fresh Media
Charlie Oliver’s years of experience in the trenches of old media include working in advertising in New York at such media goliaths as BBDO Worldwide and Condé Nast, to producing sitcoms and dramas at Sony Pictures Entertainment, Paramount Pictures, Warner Brothers, Dreamworks and Oscar-award winning indie production companies, to event management at the Sundance Film Festival. After spending several years in corporate law in document review at global firms (White & Case, Clifford Chance and Wachtel Lipton, to name a few), Charlie segued seamlessly into tech and new media as a web video producer where she co-created and co-produced experimental web video projects.
At Served Fresh Media, Charlie and her team provide digital strategy, senior management advisory, team building and training, strategic partnerships, event management, and product development for companies. In January 2017, driven by a passion to help the general public to understand and participate actively in the next technological revolution, Charlie launched TECH 2025 -- a community and platform for professionals to learn about the next wave of disruptive, emerging technologies and to facilitate discourse about the impact of these technologies on society and the future.
OUR AMAZING SPONSORS
Rise New York is a global community of startups and corporates creating the future of commerce and fintech by helping startups and entrepreneurs connect, co-create, and scale innovation. Created by Barclays, we listen, nurture and oxygenate through our international network of Rise hubs. Rise New York also houses a world-class event space and is home to the New York cohort of the Barclays Accelerator, powered by Techstars. #HomeofFinTech
BraveIT 2019, presented by Tierpoint, BraveIT is a unique interactive, thought leadership and networking experience designed for the modern IT professional seeking to boldly innovate their organization into the technological future. At BraveIT we push the boundaries of ideas, creativity and "business as usual." Use this special TECH 2025 discount code to receive 10% off full ticket price: 10OFFTech2025