The Zero Marginal Cost Society | Jeremy Rifkin | Talks at Google | Summary and Q&A

TL;DR

The emergence of the collaborative commons, driven by near zero marginal cost, is revolutionizing the economy and creating new opportunities for production and sharing of goods and services through the internet of things.

Key Insights

• 👋 The internet of things is revolutionizing the economy by enabling near zero marginal cost in the production and sharing of goods and services.
• 👶 The collaborative commons, driven by the internet of things, is a new economic system that challenges traditional capitalist and socialist models.
• 🖐️ The social commons, including cooperatives and non-profit organizations, plays a crucial role in the collaborative commons by providing social capital and community support.

Transcript

PRESENTER: Welcome, everybody. Today's author Google guest is Jeremy Rifkin. The book is titled "Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism." Jeremy is the best-selling author of 19 books on the impact of scientific and technological changes. His books have been translated into more ... Read More

Questions & Answers

Q: What is the collaborative commons?

The collaborative commons is a new economic system characterized by near zero marginal cost and the production and sharing of goods and services through the internet of things. It is a shift away from traditional capitalist and socialist models.

Q: How does the internet of things enable near zero marginal cost?

The internet of things connects people and objects in a network, allowing for the efficient production and sharing of goods and services. This reduces the marginal cost and enables individuals and small businesses to compete with larger corporations.

Q: How does the social commons contribute to the collaborative commons?

The social commons, including cooperatives and non-profit organizations, plays an important role in the collaborative commons by providing social capital and creating a sense of community. These organizations generate revenue through fees for services rendered and contribute to the overall economy.

Q: How does the internet of things impact labor employment?

The internet of things has the potential to dramatically reduce the need for labor, as increased automation and artificial intelligence replace traditional jobs. However, in the short to mid-term, there will be a surge in labor demand to build and maintain the infrastructure of the internet of things.

Summary & Key Takeaways

• Jeremy Rifkin discusses the shift to a new economic system called the collaborative commons, driven by near zero marginal cost.

• This shift is facilitated by the internet of things, which connects people and objects in a network and allows for the production and sharing of goods and services at low or no cost.

• The internet of things is already being used in various industries, such as energy and 3D printing, to reduce marginal costs and increase efficiency.

• The social commons, including cooperatives and non-profit organizations, plays a crucial role in this new economic system by providing social capital and creating a sense of community.