Hedge

by Nicolas Colin

  [192] William Mellor, Lulu Yilun Chen, and Zijing Wu, “Ma Says Alibaba Shareholders Should Feel Love, Not No. 3,” Bloomberg, November 9, 2014,

  https://www.bloomberg.com/news/articles/2014-11-09/ma-says-alibaba-shareholders-should-feel-love-not-no-3.

  [193] Henry Blodget, “14 Years Ago Jeff Bezos Told You How To Take Over The World,” Business Insider, November 16, 2011, http://www.businessinsider.com/jeff-bezos-told-you-how-to-take-over-the-world-2011-11.

  [194] Roger L. Martin, “The Age of Customer Capitalism,” Harvard Business Review, January 1, 2010,

  https://hbr.org/2010/01/the-age-of-customer-capitalism.

  [195] Gus Lubin and Vivian Giang, “The 19 Most Hated Companies In America,” Business Insider, June 2011,

  http://www.businessinsider.com/most-hated-companies-america-2011-6.

  [196] Andrew McAfee and Erik Brynjolfsson, “Investing in the IT That Makes a Competitive Difference,” Harvard Business Review, July 1, 2008,

  https://hbr.org/2008/07/investing-in-the-it-that-makes-a-competitive-difference.

  [197] Nicolas Colin and Henri Verdier, “The Economics of the Multitude,” Paris Innovation Review, June 7, 2012,

  http://parisinnovationreview.com/2012/06/07/economics-multitude/.

  [198] Venkatesh Rao, “A New Soft Technology,” Breaking Smart, February 7, 2015,

  https://breakingsmart.com/en/season-1/a-new-soft-technology/.

  [199] Kevin Kelly, “1,000 True Fans,” Kevin Kelly Blog, 2008, http://kk.org/thetechnium/1000-true-fans/.

  [200] Nicolas Colin and Bruno Palier, “The Next Safety Net,” Foreign Affairs, June 16, 2015,

  https://www.foreignaffairs.com/articles/2015-06-16/next-safety-net.

  [201] Tim O’Reilly, “Workers in a World of Continuous Partial Employment,” WTF?, August 31, 2015,

  https://medium.com/the-wtf-economy/workers-in-a-world-of-continuous-partial-employment-4d7b53f18f96.

  [202] Tim O’Reilly, “Networks and the Nature of the Firm”, August 14, 2015,

  https://medium.com/the-wtf-economy/networks-and-the-nature-of-the-firm-28790b6afdcc.

  [203] Nilofer Merchant, “We need a new language for the collaborative age,” Wired UK, March 8, 2013,

  http://www.wired.co.uk/article/we-need-a-new-language-for-the-collaborative-age.

  [204] Nicolas Colin, “A New Corporate Contract for the Digital Age,” The 8th Global Drucker Forum Blog, October 19, 2016, https://www.druckerforum.org/blog/?p=1364.

  [205] Rick Levine et al., The Cluetrain Manifesto: The End of Business as Usual (New York: Basic Books, 2000),

  http://www.cluetrain.com/book/95-theses.html.

  [206] Named after Gordon Moore, a co-founder of Intel, “whose 1965 paper described a doubling every year in the number of components per integrated circuit, and projected this rate of growth would continue for at least another decade”. In fact Moore’s law has remained true until at least 1998. “Moore’s law – Wikipedia.” Accessed October 28, 2016, https://en.wikipedia.org/wiki/Moore%27s_law/.

  [207] Pierre Collin and Nicolas Colin, “Taxation and the Digital Economy” (Task force report commissioned by the French Government, January 2013),

  https://www.dropbox.com/s/6w2divhpv3dcegj/Taxation_Digital_Economy.pdf?dl=0.

  [208] Nicolas Colin, “In Search of Scalability,” The Family Papers, August 26, 2016,

  https://salon.thefamily.co/in-search-of-scalability-5c495f8f4f0.

  [209] Jeff Howe, Crowdsourcing: Why the Power of the Crowd Is Driving the Future of Business (New York: Crown Business, 2009).

  [210] Don Tapscott and Anthony D. Williams, Wikinomics: How Mass Collaboration Changes Everything, Expanded edition (New York: Portfolio, 2010).

  [211] Yochai Benkler, The Wealth of Networks: How Social Production Transforms Markets and Freedom (New Haven: Yale University Press, 2007).

  [212] Shoshana Zuboff, “Creating Value in the Age of Distributed Capitalism,” McKinsey Quarterly, September 2010,

  http://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/creating-value-in-the-age-of-distributed-capitalism.

  [213] Clay Shirky, Cognitive Surplus: How Technology Makes Consumers into Collaborators, Reprint edition (New York: Penguin Books, 2011).

  [214] Yann Moulier Boutang, Cognitive Capitalism, First edition (Cambridge, UK: Polity, 2012).

  [215] Trebor Scholz, ed., Digital Labor: The Internet as Playground and Factory, First edition (New York: Routledge, 2012).

  [216] Nicolas Colin and Henri Verdier, L’ge de la multitude, Entreprendre et gouverner après la révolution numérique, Second edition (Armand Colin, 2015). For an overview in English, read Nicolas Colin and Henri Verdier, “The Economics of the Multitude,” Paris Innovation Review, June 7, 2012, http://parisinnovationreview.com/2012/06/07/economics-multitude/.

  [217] Tim O’Reilly, “What Is Web 2.0: Design Patterns and Business Models for the Next Generation of Software,” O’Reilly Media, September 30, 2005, http://www.oreilly.com/pub/a/web2/archive/what-is-web-20.html.

  [218] Babak Nivi, “The Entrepreneurial Age” Venture Hacks, February 25, 2013, http://venturehacks.com/articles/the-entrepreneurial-age.

  [219] Philip Evans and Patrick Forth, “Borges’ Map: Navigating a World of Digital Disruption”, BCG Perspectives, 2015, http://digitaldisrupt.bcgperspectives.com/.

  [220] Benedict Evans, “Ways to Think about Cars,” Benedict Evans’ Blog, July 27, 2015,

  http://ben-evans.com/benedictevans/2015/7/27/ways-to-think-about-cars.

  [221] Carl Shapiro and Hal R. Varian, Information Rules, (Cambridge, MA: Harvard Business School Press, 1998), 179.

  [222] Bruce Henderson, “The Rule of Three and Four,” BCG Perspectives, accessed May 6, 2017,

  https://www.bcgperspectives.com/content/Classics/strategy_the_rule_of_three_and_four/.

  [223] Andrew Odlyzko and Benjamin Tilly, “A refutation of Metcalfe’s Law and a better estimate for the value of networks and network interconnections,” Digital Technology Center, University of Minnesota, March 2, 2005,

  http://www.dtc.umn.edu/~odlyzko/doc/metcalfe.pdf.

  [224] Sangeet Paul Choudary, “Reverse Network Effects: Why Today’s Social Networks Can Fail As They Grow Larger,” Wired, March 2014,

  https://www.wired.com/insights/2014/03/reverse-network-effects-todays-social-networks-can-fail-grow-larger/.

  [225] W. Brian Arthur, “Increasing Returns and the New World of Business,” Harvard Business Review, July-August 1996, https://hbr.org/1996/07/increasing-returns-and-the-new-world-of-business.

  [226] W. Brian Arthur, Ibid.

  [227] Fred Wilson, “Winner Takes Most,” AVC, October 2015, http://avc.com/2015/10/winner-takes-most/.

  [228] Erik Brynjolfsson and Andrew McAfee, “The Big Data Boom Is the Innovation Story of Our Time,”The Atlantic, November 21, 2011,

  https://www.theatlantic.com/business/archive/2011/11/the-big-data-boom-is-the-innovation-story-of-our-time/248215/.

  [229] W. Brian Arthur, “Increasing Returns and the New World of Business,” Harvard Business Review, July-August 1996, https://hbr.org/1996/07/increasing-returns-and-the-new-world-of-business.

  [230] Sam Walton and John Huey, Made In America: My Story (New York: Bantam America, 1993).

  [231] Mark Whitehouse, “How Wal-Mart’s Price Cutting Influences Both Rivals and Inflation,” The Wall Street Journal, November 25, 2006, http://www.wsj.com/articles/SB116441560746932358.

  [232] Charles Fishman, The Wal-Mart Effectt: How the World’s Most Powerful Company Really Works and How It’s Transforming the American Economy, Reprint edition (New York: Penguin Books, 2006).

  [233] Thomas Wailgum, “45 Years of Wal-Mart History: A Technology Time Line,” CIO, October 17, 2007, http://www.cio.com/article/2437873/infrastructure/45-years-of-wal-mart-history--a-technology-time-line.html.

  [234] Jodi Kantor and David Streitfeld, “Inside Amazon: Wrestling Big Ideas in a Bruising Workplace,” The New York Times, Augu
st 15, 2015,

  https://www.nytimes.com/2015/08/16/technology/inside-amazon-wrestling-big-ideas-in-a-bruising-workplace.html.

  [235] Jeffrey Pfeffer, “Here’s Why Amazon Is More Ruthless Than Walmart,” Time, June 11, 2014,

  http://time.com/2850505/amazon-walmart-suppliers/.

  [236] David Greenberg, “How Teddy Roosevelt Invented Spin,” The Atlantic, January 24, 2016, https://www.theatlantic.com/politics/archive/2016/01/how-teddy-roosevelt-invented-spin/426699/.

  [237] Louis Hartz, The Liberal Tradition in America (San Diego: Harvest Books, 1991).

  [238] Franklin Foer, “Amazon Must Be Stopped,” The New Republic, October 10, 2014, https://newrepublic.com/article/119769/amazons-monopoly-must-be-broken-radical-plan-tech-giant.

  [239] Michael Pollan, “Why Did the Obamas Fail to Take On Corporate Agriculture?,” The New York Times, October 5, 2016, https://www.nytimes.com/interactive/2016/10/09/magazine/obama-administration-big-food-policy.html.

  [240] Keith Naughton, Alex Webb, and Mark Bergen, “Silicon Valley Just Realized How Hard It Is to Make a Car,” Bloomberg, October 25, 2016,

  https://www.bloomberg.com/news/articles/2016-10-25/bill-ford-to-silicon-valley-the-future-of-cars-is-in-detroit.

  [241] Issie Lapowsky, “Tech’s Next Big Legal Clash Will Be Over Selling Insurance,” Wired, July 15, 2015, https://www.wired.com/2015/05/zenefits-funding/.

  [242] Tim O’Reilly, “Networks and the Nature of the Firm,” WTF?, August 14, 2015,

  https://medium.com/the-wtf-economy/networks-and-the-nature-of-the-firm-28790b6afdcc.

  [243] Kim-Mai Cutler, “How Burrowing Owls Lead To Vomiting Anarchists (Or SF’s Housing Crisis Explained),” Techcrunch, April 14, 2014, http://social.techcrunch.com/2014/04/14/sf-housing/.

  [244] Nicolas Colin and Antoine Zins, “Why Entrepreneurship Is Harder in Healthcare, and How We Can Make It Easier,” The Family Papers, November 18, 2015,

  https://salon.thefamily.co/why-entrepreneurship-is-harder-in-healthcare-and-how-we-can-make-it-easier-d53dd94d94c1.

  [245] Cameron Albert-Deitch, “The Single Biggest Barrier to Entrepreneurship Among Millennials,” Inc, June 7, 2016, https://www.inc.com/cameron-albert-deitch/2016-30-under-30-student-loans.html.

  [246] Philippe Aghion et al., “Competition and Innovation: An Inverted-U Relationship,” The Quarterly Journal of Economics 120, no. 2 (May 2005), http://www.jstor.org/stable/25098750.

  [247] George Packer, “Cheap Words,” The New Yorker, February 17, 2014,

  http://www.newyorker.com/magazine/2014/02/17/cheap-words.

  [248] Franklin Foer, “Amazon Must Be Stopped,” The New Republic, October 10, 2014, https://newrepublic.com/article/119769/amazons-monopoly-must-be-broken-radical-plan-tech-giant.

  [249] Ylan Q. Mui and Michael S. Rosenwald, “Wal-Mart’s New Tack: Show ’Em the Payoff,” The Washington Post, September 13, 2007,

  http://www.washingtonpost.com/wp-dyn/content/article/2007/09/12/AR2007091202513.html?%20hpid=moreheadlines.

  [250] Megan McArdle, “Beware: Wal-Mart’s Raises Are Not a Victory,” Bloomberg, January 26, 2016,

  https://www.bloombergview.com/articles/2016-01-26/beware-wal-mart-s-raises-are-not-a-victory.

  [251] Tim O’Reilly, “The Architecture of Participation,” O’Reilly Media, June 2004,

  http://archive.oreilly.com/pub/a/oreilly/tim/articles/architecture_of_participation.html.

  [252] Nelson Lichtenstein, State of the Union: A Century of American Labor, Revised and Expanded edition with a new preface and two new chapters by the author edition (Princeton, New Jersey: Princeton University Press, 2013), 22.

  [253] W. Brian Arthur, “Increasing Returns and the New World of Business,” Harvard Business Review, July-August 1996, https://hbr.org/1996/07/increasing-returns-and-the-new-world-of-business.

  [254] Fred Wilson, “Winner Takes Most,” AVC, October 2015, http://avc.com/2015/10/winner-takes-most/.

  [255] Marcus Wohlsen, “What Uber Will Do With All That Money From Google,” Wired, January 2014,

  https://www.wired.com/2014/01/uber-travis-kalanick/.

  [256] Babak Nivi, “No Tradeoff between Quality and Scale,” Venture Hacks, February 18, 2013,

  http://venturehacks.com/articles/there-is-no-finish-line-for-entrepreneurs.

  [257] Steve Blank, “Why Uber Is the Revenge of the Founders,” October 24, 2017,

  https://steveblank.com/2017/10/24/uber-the-revenge-of-the-founders/.

  [258] J. Bradford Delong, “Profits of Doom,” Wired, April 1, 2003,

  https://www.wired.com/2003/04/profits-of-doom-2/.

  [259] Rachel Sherman, “What the Rich Won’t Tell You,” The New York Times, September 8, 2017,

  https://www.nytimes.com/2017/09/08/opinion/sunday/what-the-rich-wont-tell-you.html.

  [260] Edmund S. Phelps, “Corporatism Not Capitalism Is to Blame for Inequality,” The Financial Times, July 24, 2014,

  https://www.ft.com/content/54411224-132c-11e4-8244-00144feabdc0.

  [261] Clayton M. Christensen, “A Capitalist’s Dilemma, Whoever Wins the Election,” The New York Times, November 3, 2012, http://www.nytimes.com/2012/11/04/business/a-capitalists-dilemma-whoever-becomes-president.html.

  [262] Clayton M. Christensen, Stephen P. Kaufman, and Willy C. Shih, “Innovation Killers: How Financial Tools Destroy Your Capacity to Do New Things” Harvard Business Review, January 1, 2008,

  https://hbr.org/2008/01/innovation-killers-how-financial-tools-destroy-your-capacity-to-do-new-things.

  [263] William Lazonick, “Profits Without Prosperity,” Harvard Business Review, September 1, 2014,

  https://hbr.org/2014/09/profits-without-prosperity.

  [264] Edmund S. Phelps, “Less Innovation, More Inequality,” The New York Times, Opinionator,

  https://opinionator.blogs.nytimes.com/2013/02/24/less-innovation-more-inequality/.

  [265] Dan Wang, “Why Is Peter Thiel Pessimistic About Technological Innovation?,” September 10, 2014,

  https://danwang.co/why-is-peter-thiel-pessimistic-about-technological-innovation/.

  [266] David Graeber, The Utopia of Rules: On Technology, Stupidity, and the Secret Joys of Bureaucracy, Reprint edition (New York: Melville House, 2016).

  [267] Marc Andreessen, “Why Software Is Eating The World,” The Wall Street Journal, August 20, 2011,

  https://www.wsj.com/articles/SB10001424053111903480904576512250915629460.

  [268] Lauren Friedman, “IBM’s Watson Supercomputer May Soon Be The Best Doctor In The World,” Business Insider, April 22, 2014,

  http://www.businessinsider.com/ibms-watson-may-soon-be-the-best-doctor-in-the-world-2014-4.

  [269] Kim-Mai Cutler, “YC’s ROSS Intelligence Leverages IBM’s Watson To Make Sense Of Legal Knowledge,” TechCrunch, July 2017, http://social.techcrunch.com/2015/07/27/ross-intelligence/.

  [270] Seth Godin, “I Spread Your Idea Because...,” Seth’s Blog, October 27, 2010,

  http://sethgodin.typepad.com/seths_blog/2010/10/ideas-spread-when.html.

  [271] James Bessen, “How Technology Creates Jobs for Less Educated Workers,” Harvard Business Review, March 21, 2014, https://hbr.org/2014/03/how-technology-creates-jobs-for-less-educated-workers.

  [272] Tim O’Reilly, “Don’t Replace People. Augment them,” WTF?, July 17, 2016,

  https://wtfeconomy.com/dont-replace-people-augment-them-8bea60cb80ac.

  [273] Chris Taylor, “Sorry, Taxis: You’re History,” Mashable UK, June 12, 2014,

  http://mashable.com/2014/06/11/sorry-taxis/#e.63w_lKGEqI.

  [274] James Bessen, “How Technology Creates Jobs for Less Educated Workers,” Harvard Business Review, March 21, 2014.

  [275] Dani Rodrik, “The inescapable trilemma of the world economy,” Dani Rodrik’s weblog, June 27, 2007,

  http://rodrik.typepad.com/dani_rodriks_weblog/2007/06/the-inescapable.html.

  [276] Rex Storgatz, “The Internet Really Has Changed Everything. Here’s the Proof,” Backchannel, April
19, 2016,

  https://www.wired.com/2016/04/the-internet-really-has-changed-everything-heres-the-proof/.

  [277] Kevin Baker, “Democrats Should Bring Back the Political Machines,” The New Republic, August 17, 2016, https://newrepublic.com/article/135686/soul-new-machine.

  [278] Thomas Ferguson and Joel Rogers, Right Turn: The Decline of the Democrats and the Future of American Politics (New York: Hill & Wang, 1987), 46-51.

  [279] Clark Clifford, “The Politics of 1948, Memorandum from Clark Clifford to Harry S. Truman,” 1947, https://www.trumanlibrary.org/dbq/res/1948/1948Campaign_CliffordMemo.pdf.

  [280] Clark Clifford, Ibid.

  [281] Janan Ganesh, “Who Is Paying for the Global City?,” The Financial Times, August 4, 2017, https://www.ft.com/content/e7067ffc-7834-11e7-90c0-90a9d1bc9691.

  [282] W. Brian Arthur, “Where is technology taking the economy?,” McKinsey Quarterly, October 2017,

  https://www.mckinsey.com/business-functions/mckinsey-analytics/our-insights/where-is-technology-taking-the-economy.

  [283] Corin Faife, “The Rebirth of the City-State,” How We Get To Next, April 12, 2016,

  https://howwegettonext.com/the-rebirth-of-the-city-state-1d005f7c4eb7.

  [284] Balaji Srinivasan, “Silicon Valley’s Ultimate Exit”, Y Combinator’s Startup School, October 2013,

  https://genius.com/Balaji-srinivasan-silicon-valleys-ultimate-exit-annotated. See also Albert O. Hirschman, Exit, Voice, and Loyalty: Responses to Decline in Firms, Organizations, and States (Cambridge, MA: Harvard University Press, 1970).

  [285] Dan Zak, “This Is California in the Era of Trump,” The Washington Post, March 22, 2017,

  https://www.washingtonpost.com/lifestyle/style/this-is-california-in-the-era-of-trump/2017/03/22/04e349e2-02b0-11e7-b1e9-a05d3c21f7cf_story.html?utm_term=.693ce04e0621.

  [286] Richard Florida, “The Most Disruptive Transformation in History,” Medium, December 1, 2016,

  https://medium.com/@Richard_Florida/the-most-disruptive-transformation-in-history-80a50ef89b4d.

  [287] Claire Cain Miller, “Liberals Turn to Cities to Pass Laws and Spread Ideas,” The New York Times, January 26, 2016,

  https://www.nytimes.com/2016/01/26/upshot/liberals-turn-to-cities-to-pass-laws-and-spread-ideas.html.