Rosen explains as follows: “Hearing a succession of mediocre singers does not add up to a single outstanding performance.” In other words, talent is not a commodity you can buy in bulk and combine to reach the needed levels: There’s a premium to being the best. Therefore, if you’re in a marketplace where the consumer has access to all performers, and everyone’s q value is clear, the consumer will choose the very best.
American computer scientist, academic lecturer and writer
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Bill Maher ends every episode of his HBO show Real Time with a monologue. The topics are usually political. This was not the case, however, on May 12, 2017, when Maher looked into the camera and said: The tycoons of social media have to stop pretending that they’re friendly nerd gods building a better world and admit they’re just tobacco farmers in T-shirts selling an addictive product to children. Because, let’s face it, checking your “likes” is the new smoking.
As digital technology reduces the need for labor in many industries, the proportion of the rewards returned to those who own the intelligent machines is growing. A venture capitalist in today’s economy can fund a company like Instagram, which was eventually sold for a billion dollars, while employing only thirteen people. When else in history could such a small amount of labor be involved in such a large amount of value?
In hindsight, these observations are obvious. If life-transforming missions could be found with just a little navel-gazing and an optimistic attitude, changing the world would be commonplace. But it’s not commonplace; it’s instead quite rare. This rareness, we now understand, is because these breakthroughs require that you first get to the cutting edge, and this is hard — the type of hardness that most of us try to avoid in our working lives.
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