Online giants are our new masters
Confronted by the power of huge online companies, governments should emulate them and use the internet to collaborate on far-reaching policy issues.
Global power is shifting from a society of nation states towards a society of global online companies. Many of the traditional roles of government such as the redistribution of wealth, the creation of public infrastructure and competition regulation are being tested by a growing constellation of planetary-sized online businesses such as Apple, Facebook, Alibaba, Tencent, Google and Amazon.
Even in that most rarefied role of the public sector – intelligence, government's potency and efficacy is now in question. In the latest 007 movie Spectre, James Bond's rival codenamed "C" says of their new impressive headquarters: "Her majesty's government wouldn't have the money to fund this – it's funded by a benefactor." And in the 2014 film Kingsman (which is intended to be a spy movie franchise) the central idea is one of a privately funded secret service, its founders having long given-up on the idea such an organisation could spring from and be run effectively in public hands.
Full article at the Australian Financial Review
Photocredit: Daniel Craig at Film Premiere "Spectre" 007 - on the Red Carpet in Berlin by Glyn Lowe.
While Kodak was an iconic and hugely successful global consumer products company - mentions in all printed books English language books never outnumbered the US Government — even during its heyday of the 1970s.
In less than a decade, Google on the other hand has overtaken the US Government in mentions in English language books in its brief but spectacular ascent to become one of the worlds most influential online giants.