Reinventing Capitalism in the Age of Big Data

Name: Reinventing Capitalism in the Age of Big Data
Brand: Hachette Audio
Availability: InStock
Author: Viktor Mayer-Schönberger
ISBN: 9781478923862

Author: Viktor Mayer-Schönberger, Thomas Ramge

Narrator: John Chancer

Unabridged: 7 hr 56 min

Format: Digital Audiobook Download

Publisher: Basic Books

Published: 02/27/2018

Categories: Nonfiction, Business & Economics, Technology & Engineering, Social Aspects

Synopsis

From the New York Times bestselling author of Big Data, a prediction for how data will revolutionize the market economy and make cash, banks, and big companies obsolete

In modern history, the story of capitalism has been a story of firms and financiers. That's all going to change thanks to the Big Data revolution. As Viktor Mayer-SchÃ¶rger, bestselling author of Big Data, and Thomas Ramge, who writes for The Economist, show, data is replacing money as the driver of market behavior. Big finance and big companies will be replaced by small groups and individual actors who make markets instead of making things: think Uber instead of Ford, or Airbnb instead of Hyatt.

This is the dawn of the era of data capitalism. Will it be an age of prosperity or of calamity? This book provides the indispensable roadmap for securing a better future.

About Viktor Mayer-Schönberger

VIKTOR MAYER-SCHÖNBERGER is Professor of Internet Governance and Regulation at the Oxford Internet Institute, Oxford University. The co-author of Big Data: A Revolution That Will Transform How We, Live, Work, and Think, he has published over a hundred articles and eight other books, including Delete: The Virtue of Forgetting in the Digital Age. He is on the advisory boards of corporations and organizations around the world, including Microsoft and the World Economic Forum.

Reviews

Goodreads review by Marks54 on December 21, 2020

I am sorry - I started this a few times and then stalled before I finally pushed through. I found this book to be oversold and underargued. The basic point is clear enough — the advent of “big data” will permit information technology to improve upon the current state of the economy by improving the......more

Goodreads review by Nujood on January 31, 2022

KARL MARX’S MANIFESTO: BIG DATA EDITION I think I understand why many people would not like this book as it truly simplifies concepts that are generally thought of as familiar or common knowledge. I for one thoroughly enjoyed it and was genuinely taken back by how much I enjoyed it as I usually and......more

Goodreads review by Karel on December 28, 2018

Many big words overexplaining simple ideas to justify an Oxford sabbatical. I continue to the end hoping for any gem in the verbiage... no avail. Wherein AI helps imperfect but free people make better decisions, only requiring progressive open sharing of data to avoid controlling firms or govts from......more

Goodreads review by Navneet on June 09, 2019

On page 203 the authors tell what in their view the emerging data age is all about " a move away from money and capital, an appreciation of capturing the richness of reality through the richness of data, an embrace of the market over the firm, and an exceptional opportunity to improve the human abil......more

Goodreads review by Teresa on February 03, 2021

The authors fail to get me on board with the suggested data sharing mandates or taxes.. for a number of reasons that the book avoids. Providing employers with a new hire tax credit threatens employee loyalty & retention, incentivizing employers to fire & hire for financial gain. For all of the innov......more

Quotes

"Viktor Mayer-Schönberger and Thomas Ramge argue that big data will transform our economies on a fundamental level...Thought-provoking."—Science

"A thoughtful volume about the digital and data-driven future...Emphasizes the human choices and market and societal opportunities that data will enable."—Forbes

"Mayer-Schönberger and Ramge offer several intriguing ideas for limited the excesses of data-rich capitalism...These ideas won't get much of a hearing in today's Washington. But the shift toward an information-based economy will outlast the current administration. Eventually, this country will have a government interested in the best parts of modern capitalism while restraining the worst."—David Leonhardt, New York Times Book Review

"[One of] this year's best business books on technology and innovation"—James Surowiecki, Strategy + Business

"If this overall analysis is right, then we are going to have to start thinking more about such radical ideas. Data capitalism can deliver phenomenal services, as Amazon has shown. But it may also undermine some of the foundations on which our societies have been built."—Financial Times

"In 2013's Big Data, Viktor Mayer-Schönberger...described the necessity of using digital information to better connect with customers and train automated systems... Reinventing Capitalism in the Age of Big Data...expands that vision as dramatically as the title implies. Big data, the authors argue, is an omnipresent force that will create a new world--one in which large public companies may no longer be relevant at all."—Fortune

"Smoothly written and provocative, Reinventing Capitalism in the Age of Big Data is one of those rare pop future books that takes fundamental economics seriously... Viktor Mayer-Schönberger and Thomas Ramge argue that the data's rise means money's decline, that meaningful economic growth overwhelmingly depends on data innovation, and that regulating market competition requires rethinking data access."—F&D

"A welcoming and comprehensible narrative featuring interesting profiles of key personalities driving the Big Data revolution...The future marketplace of goods, services, and ideas will benefit from a wide readership of this instructive study."—Booklist

"An unnerving yet plausible portrait of a future in which 'finance capitalism will be as old-fashioned as Flower Power.'"—Kirkus

"Anyone interested in the future of business should read this fascinating book as soon as possible. By now it is conventional wisdom--thanks in no small part to Mayer-Schönberger's previous book--that big data will transform the way firms operate. Reinventing Capitalism in the Age of Big Data makes a compelling case that it will change the nature of the market itself. With brilliant insights, it explains how the shift from simple price signaling to data-rich preference matching will determine the winners and losers of the 21st century economy, and thoughtfully outlines steps to curb the excesses of this new environment."—Kevin Werbach, The Wharton School, University of Pennsylvania