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08-May-2020 15:12

they found a way to use distributed resources across the Internet not controlled by a centralized company.

In essence users like you probably used many of these products without complete awareness that your computer became a node and was being used to transmit files.

The Internet that has offered the world so much economic opportunity has also centralized wealth creation into the hands of relatively few people on a scale and in a timeframe never seen before in history.

And while many of the people bringing you the great applications and infrastructure you now rely on are benevolent, there is of course a normal incentive for these companies to use their scale advantages to continue to dominate the markets they’re in, making it harder for upstarts to compete.

And our social graphs are locked in Facebook, Twitter and Snapchat.

Breakout companies become much harder and this isn’t likely to improve unless we give new companies the tools and capital they need to flourish.

This market structure in which the few, large players use their market position to eliminate competition is inevitable and it’s hard to blame large companies or countries who want to protect their advantages. When you achieve economies-of-scale advantages it doesn’t benefit you to help newer companies draft off of your infrastructure to rise and compete against you.

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And you need a means of auditing transactions so that they are verifiable.

The Internet allows people in relatively poorer parts of the world to complete work for relatively richer parts of the world at wages higher than a local economy may bear.