The digital economy of the 21st century represents a “historical and civilizational revolution” – I24NEWS
We will continue to see the development of the network economy, from Facebook to Bitcoin to Tesla.
Companies in the digital economy, such as Apple, Google, Facebook and Tesla, are now 10 times larger than most countries, and 10 times larger than companies in the industrial economy.
We will continue to see the development of the digital economy, from content networks like Facebook and YouTube, to money networks and Bitcoin, to energy and transportation networks like Tesla. We will see why Apple reached $3 trillion and Tesla reached $1 trillion.
Most people still think of Tesla as a car company, but it is primarily a social energy network, just as Facebook is a social network of words and YouTube and TikTok are social networks of videos. If Tesla is just a car company like General Motors, Mercedes or Honda, why is it worth more than the market value of these three companies?
About 20 years ago, decentralized content social networks emerged that relied on “a television studio and a newspaper in your pocket” in the form of the iPhone. Every boy and girl could suddenly create texts and videos and broadcast them to billions of people on YouTube. Today, Elon Musk believes that anyone can generate decentralized energy from solar panels, wind turbines or giant electric car batteries.
After content social networks, Microsoft and Apple realized the great power of decentralized social networks. That’s why Microsoft bought LinkedIn for $24 billion and its value reached $2 trillion. Apple built iTunes, a social network for music, and AppStore, a social network for apps, to reach $3 trillion in value. The social network is a huge source of information, which is the main source of wealth in the 21st century.
It is about more than a technological and economic revolution. This is a historical-civilizational revolution as we know it in past millennia:
1. The muscles of the man working with the hoe created the wealth of the land in the agricultural society.
2. In industrial society, fuel created wealth from the machine.
3. An artificial or biological neural network (the basis of deep artificial intelligence) produces a lot of big data from a social network, a network society.
After content networks such as Facebook, YouTube, LinkedIn and Twitter, the decentralized currency social network bitcoin appeared. Why did bitcoin rise more than 2000% in two years (2019-2021) from $3000 to $69,000?
Because Bitcoin is the money of the network generation. Gold has been the world currency for 5000 years. During the industrial revolution of the modern era, gold was replaced by gold banknotes. In 1971, the US pegged the dollar to gold, and since then the price of gold has risen from $35 to $1,500 an ounce, and global debt has surpassed $100 trillion. Bitcoin was designed to stop the global economic recession and created a whole new system of new concepts that have emerged recently: Metaverse, NFT, WEB 3.0, Crypto, Blockchain, etc.
The main reason for the enormous power of social networks of content, money and energy is surprising and simple: the industrial revolution was created by the appearance of the steam engine in the factory and in transport. A machine equal to 100 horsepower. The network is equal to 100 steam engines, that is, 10,000 horsepower!
Dr. Asher Idan is an international lecturer with 40 years of experience in research conferences and consulting at Tel Aviv and Bar Ilan universities. He is the author of three books on futurism, technological innovation, networks and bitcoin.
