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114 - Our 1000-Year Struggle Over Technology and Prosperity with Simon Johnson

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The Matthew Effect and the Rich Get Ritcher

I see an overlap between my work and yours is around this idea of the Matthew effect, which is like the cumulative effect of accumulated advantage. And I think also applies to matters of fame and status. Like Tom Hanks is getting more famous faster than I am because he's got that accumulated fame that creates that network effect. The tech giants hoovering up all of our data are able to monetize it much faster than anyone else is able to. What we do know is they're getting a lot of it from places where they don't have full permission or websites where data has been illegally, illegally broken out of restricted domains and publicized. All of this is a big problem in terms

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