An unnerving yet plausible portrait of a future in which “finance capitalism will be as old-fashioned as Flower Power.”
Another entry in the rapidly growing literature about how big data will soon transform capitalism as we know it.
Expect “a fundamental reorganization of our economy, one that will be arguably as momentous as the Industrial Revolution,” write Mayer-Schönberger (Internet Governance and Regulation/Univ. of Oxford; Delete: The Virtue of Forgetting in the Digital Age, 2009, etc.) and Economist contributing editor Ramge. In this thoughtful, provocative account of the coming impact of big data on human transactions, the authors note that economic activity has long been coordinated by markets and firms, with price serving as a convenient way to distill information about the value of goods and services. In the process, valuable details were lost. Now, as we enter a new age of data capitalism, digital innovations are allowing “massive amounts of data…[to] flow quickly, easily, and cheaply between transaction partners,” helping them make better decisions. At the same time, we have the methods and tools to work with that data. This emerging economy has already given us such enterprises as BlaBlaCar, which helps millions of people share car rides each month. “From internet travel site Kayak to online investment company SigFig, to digital labor platform Upwork,” write the authors, “more and more markets that use data to help participants find better matches are gaining traction and attention.” Such improvements in transactions and efficiency will soon reshape markets of all kinds and allow us to address climate change and other complex issues. With price no longer the chief focus (machines will negotiate with sellers), there will be less need for money and banks (many will be gone by the late 2020s), and firms will have to reinvent the way they do business. The authors cover the inevitable upending of the labor market and the possible need for constant worker retraining or a universal basic income.
An unnerving yet plausible portrait of a future in which “finance capitalism will be as old-fashioned as Flower Power.”Pub Date: Feb. 27, 2018
ISBN: 978-0-465-09368-7
Page Count: 288
Publisher: Basic Books
Review Posted Online: Dec. 10, 2017
Kirkus Reviews Issue: Jan. 1, 2018
More uncommonly sensible investment guidance from a master of the game. Drawing on his experience at Fidelity's Magellan Fund, a high- profile vehicle he quit at age 46 in 1990 after a spectacularly successful 13-year tenure as managing director, Lynch (One Up on Wall Street, 1988) makes a strong case for common stocks over bonds, CDs, or other forms of debt. In breezy, anecdotal fashion, the author also encourages individuals to go it alone in the market rather than to bank on money managers whose performance seldom justifies their generous compensation. With the caveat that there's as much art as science to picking issues with upside potential, Lynch commends legwork and observation. ``Spending more time at the mall,'' he argues, invariably is a better way to unearth appreciation candidates than relying on technical, timing, or other costly divining services prized by professionals. The author provides detailed briefings on how he researches industries, special situations, and mutual funds. Particularly instructive are his candid discussions of where he went wrong as well as right in his search for undervalued securities. Throughout the genial text, Lynch offers wry, on-target advisories under the rubric of ``Peter's Principles.'' Commenting on the profits that have accrued to those acquiring shares in enterprises privatized by the British government, he notes: ``Whatever the Queen is selling, buy it.'' In praise of corporate parsimony, the author suggests that, ``all else being equal, invest in the company with the fewest photos in the annual report.'' Another bull's-eye for a consummate pro, with appeal for market veterans and rookies alike. (Charts and tabular material— not seen.)
Pub Date: March 1, 1993
ISBN: 0-671-75915-9
Page Count: 320
Publisher: Simon & Schuster
Review Posted Online: May 19, 2010
Kirkus Reviews Issue: Jan. 1, 1993
An easy reading book of supportive encouragement to follow one’s dreams.
More than 40 career-changers tell their stories.
Introduced by Facebook executive and founder of Leanin.org Sheryl Sandberg, Lewis’ second cousin, the book offers exuberant advice for people who want to make a leap—daring or modest—from one career path to another, just as he did. At the age of 24, working for the investment firm Bain Capital, the author felt restless and dissatisfied. “I began to realize,” he writes, “that I wanted this life mostly because I thought I should,” but he heard “a very distinct if faint voice” urging him to try something “very different.” As he considered following his passion to become a professional squash player, Lewis sought advice from others who made similar jumps: a banker-turned-cyclist, for example, and a journalist-turned-politician. From them, and the others whose stories fill the book, he came up with the idea of the Jump Curve, a process of four key phases: listening to your inner voice, making a practical plan, believing in your own good luck, and rejecting regret. “You will come out stronger,” Lewis insists, even if your initial plan fails. “I keep coming back to the idea of agency,” said a man who made a move from corporate hospitality service to restaurant ownership: “the difference between life happening to you versus you making life happen.” Among the individuals profiled are a nurse who, at the age of 50, became a doctor; a football player–turned-writer; an investment professional who became coxswain of the U.S. Paralympic Rowing Team; a PR executive who found her calling as an Episcopal bishop; and a lawyer who sued the New York fire department to admit women firefighters—and then became the first woman hired. “Harassment, discrimination, death threats,” and physical abuse dogged her 25-year career. But, she says, “this was a jump worth fighting for,” a sentiment that Lewis underscores. Changing careers is risky, but “there is a risk to not taking a jump at all.”
An easy reading book of supportive encouragement to follow one’s dreams.Pub Date: Jan. 9, 2018
ISBN: 978-1-250-12421-0
Page Count: 336
Publisher: Henry Holt
Review Posted Online: Oct. 16, 2017
Kirkus Reviews Issue: Nov. 1, 2017
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