Natural Data Monopolies: Market Failure or Capitalism's Failure?

Allen Farrington and Sacha Meyers join me for a multi-episode conversation exploring their book "Bitcoin is Venice." In this episode, we discuss the business model of Facebook and Google, data monopolies and their network effects, the concept of owning your data, and whether Bitcoin can change the Internet.

Allen Farrington and Sacha Meyers co-authored the book "Bitcoin is Venice". 

// GUEST // 
Book: https://store.bitcoinmagazine.com/collections/books/products/bitcoin-is-venice 
Allen’s Twitter: https://twitter.com/allenf32
Sacha’s Twitter: https://twitter.com/sacha_meyers

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// OUTLINE // 
00:00:00 - Coming up 
00:00:47 - Intro 
00:02:20 - Helping Lightning Startups with In Wolf's Clothing 
00:03:06 - Introducing Allen Farrington and Sacha Meyers 
00:03:50 - Facebook and Google: Fundamentally Different Economic Entities 
00:09:06 - Bitcoin and Data Monopolies 
00:12:26 - Why These Companies Got So Big 
00:16:04 - Misunderstanding the Technology 
00:18:42 - Network Business Capitals 
00:22:30 - Process of Capital Accumulation 
00:24:29 - An Alternative Option with Bitcoin 
00:26:58 - Advertising Taken to its Logical Extreme 
00:29:27 - Power of Network Effects 
00:32:08 - Business Ethics and Data Integrity 
00:34:09 - Run Your Business from Anywhere with NetSuite 
00:35:14 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet 
00:36:10 - How Bitcoin Fixes Data Monetization 
00:41:36 - How Does Facebook Work? 
00:44:24 - Novel Communications Protocol of Facebook 
00:47:40 - “Breaking up” the Monopoly of Network Businesses 
00:54:47 - The Analogy of Surveillance 
00:56:56 - The Problem with Owning Your Data 
00:59:47 - Data and Network Effects 
01:03:06 - Knowledge is Capital 
01:05:38 - Objection to Intellectual Property 
01:08:05 - Take Control of Your Healthcare with CrowdHealth 
01:09:07 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet 
01:09:59 - The Nature of the Internet 
01:13:06 - Open-Source Software vs. Free Software 
01:16:43 - Can Bitcoin Change the Internet?

// PODCAST // 
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