Logo

George Gilder - the peerless visionary of technology and culture explains why Silicon Valley is suffering a nervous breakdown and what to expect as the post- Google age dawns.  The Age of Google, built on big data and machine intelligence, has been an awesome era. But it is coming to an end. Google’s astonishing ability to “search and sort” attracts the entire world to its search engine and countless other goodies - videos, maps, email, calendars, etc. Everything it offers is free, or so it seems. Instead of paying directly, users submit to advertising. The system of “aggregate and advertise” works—for a while - if you control an empire of data centers, but a market without prices strangles entrepreneurship and turns the Internet into a wasteland of advertisements. The crisis is not just economic. Silicon Valley has pretty much given up on security. The internet firewalls supposedly protecting all those passwords and personal information have proved hopelessly permeable. The crisis cannot be solved within the current computer and network architecture. The future lies with the “cryptocosm”—the new architecture of the blockchain and its derivatives. Enabling crypto currencies such as bitcoin and ether, NEO and Hashgraph, it will provide the internet a secure global payments system, ending the aggregate-and-advertise Age of Google. Silicon Valley, long dominated by a few giants, faces a “great unbundling,” which will disperse computer power and commerce and transform the economy and the Internet.